Valuation of patent - a real options perspective
AbstractBoth the theoretical model and the empirical analysis methods are examined for valuing patents from the real options perspective. This study not only sets up a real options approach for evaluating patent to conform to the main sensitivity analysis of patent activities, but also establishes an empirical method about valuing patents by a panel data. Cross-sectional and time-series data from 101 Taiwanese electronic firms between 1993 and 2002 are employed for the fixed effects analysis in the panel data model. This study concludes the consist results from the theoretical model and empirical analysis. That is, the patent value increases with increasing the underlying asset, time to maturity and risk-free rate.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 13 (2006)
Issue (Month): 5 ()
Contact details of provider:
Web page: http://www.tandfonline.com/RAEL20
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Wu, Ming-Cheng, 2011. "Antecedents of patent value using exchange option models: Evidence from a panel data analysis," Journal of Business Research, Elsevier, vol. 64(1), pages 81-86, January.
- Lee, Shun-Chung, 2011. "Using real option analysis for highly uncertain technology investments: The case of wind energy technology," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(9), pages 4443-4450.
- Roy Cerqueti & Marco Ventura, 2009. "A Discrete Model for Patent Valuation," ISAE Working Papers 120, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.