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Using Patent-based Metrics to Understand the Value of Companies

出版	IPRIA, 2003
URL	http://books.google.com.hk/books?id=4yQynwEACAAJ&hl=&source=gbs_api

註釋All firms are investing more and more into technological, managerial and organisational innovations. Researchers have not yet document the contextual conditions associated with these investments and their association with market values. This paper provides systematic evidence on the association of market values and three innovation conditions based on the economics of innovation: technological potential, appropriability and innovation intensity. It further tests the association between market values and patent protection. The results of this study provide strong support for the prediction that innovation conditions are significantly associated with market values. The robustness of the results with respect to specific industries and alternative specifications of the models have been tested, confirming the reported findings.