Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24047
Authors: 
Kraft, Kornelius
Czarnitzki, Dirk
Year of Publication: 
2004
Series/Report no.: 
ZEW Discussion Papers 04-38
Abstract: 
Successful innovative activity is a major contribution to the intangible capital of firms. Although its importance is generally acknowledged, the contribution to companies? profits is a priori unclear. We present the results of an empirical study on the effects of the patent stock on profitability. The data base is a representative sample of German manufacturing firms and we use a number of control variables including measures of competition and firm leadership. It turns out that the patent stock has a strong and robust effect on profitability.
Subjects: 
Innovation
Patents
Profitability
Discrete Regression Models
JEL: 
C25
L11
O31
O32
Document Type: 
Working Paper

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