Patent quality, cumulative innovation and market value: Evidence from Japanese firm level panel data
AbstractWe examine empirically how patent quality in terms of forward citation and science linkage affect the market value of a firm. We find that both indicators affect the market value of a firm significantly even if we extensively control the effects of the other major determinants of the market value, including R&D investment and current return on asset. In addition, the forward citation affects the market value more in cumulative innovation area such as in IT, consistent with a theoretical proposition that the value of having a dependent patent is larger in the industry where innovation is cumulative among firms.
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.
Bibliographic InfoPaper provided by Institute of Innovation Research, Hitotsubashi University in its series IIR Working Paper with number 05-06.
Length: 27,  p.
Date of creation: Feb 2005
Date of revision:
Note: Presented to the Conference on IT Innovation, Tokyo, December 2004.
Contact details of provider:
Postal: 2-1 Naka, Kunitachi City, Tokyo 186-8601
Web page: http://www.iir.hit-u.ac.jp/
More information through EDIRC
patent quality; market value; forward citation; science linkage; cumulative innovation;
Find related papers by JEL classification:
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Cassiman, Bruno & Veugelers, Reinhilde & Zuniga, Pluvia, 2007. "Science linkages and innovation performance: An analysis on CIS-3 firms in Belgium," IESE Research Papers D/671, IESE Business School.
- Sebastien Lechevalier & Yukio Ikeda & Junichi Nishimura, 2006. "Collaborative R&D in the robot technology in Japan: an inquiry based on patent data analysis (1991-2004)," CIRJE F-Series CIRJE-F-453, CIRJE, Faculty of Economics, University of Tokyo.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Digital Resources Section, Hitotsubashi University Library).
If references are entirely missing, you can add them using this form.