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dc.contributor.authorNeuhäusler, Peteren
dc.contributor.authorFrietsch, Raineren
dc.contributor.authorSchubert, Torbenen
dc.contributor.authorBlind, Knuten
dc.date.accessioned2011-04-18-
dc.date.accessioned2011-04-19T09:48:30Z-
dc.date.available2011-04-19T09:48:30Z-
dc.date.issued2011-
dc.identifier.piurn:nbn:de:0011-n-1582128en
dc.identifier.urihttp://hdl.handle.net/10419/44995-
dc.description.abstractThe following article systematically analyzes the question of how the results of R&D and its protection - or so to say, the technology base of a firm - can influence its market value and profits. Based on theoretical arguments it is hypothesized that large and highly valuable patent portfolios of firms have significant effects on their competitiveness in the long run. For the empirical testing a panel dataset including 479 firms from 1990 to 2007 based on the DTI-Scoreboard is used, which contains data on R&D expenditures, market capitalization, turnover etc. and structural information like firm-size and industry sector. To this database the relevant information on patenting behavior and financial performance are added, so effects of firm characteristics can be calculated. To assess the value of a firm's patent portfolio, different value measures like the number of received patent citations, opposed patents, number of inventors etc. are being applied. The results suggest that at least at the firm level, especially forward citations and family size positively influence market value. Concerning the Return on Investment, especially oppositions and family size show positive effects. This leads to the conclusion that securing international markets has a positive effect on the value of the firm in the home market.en
dc.language.isoengen
dc.publisher|aFraunhofer-Institut für System- und Innovationsforschung ISI |cKarlsruheen
dc.relation.ispartofseries|aFraunhofer ISI Discussion Papers - Innovation Systems and Policy Analysis |x28en
dc.subject.ddc330en
dc.titlePatents and the financial performance of firms - An analysis based on stock market data-
dc.typeWorking Paperen
dc.identifier.ppn656575352en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:fisidp:28en

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