Market Value and Patent Quality in Japanese Manufacturing Firms
AbstractWe investigate the effect of quality of patents on the market value of firms represented by the Tobin's q. We consider the number of objections as well as the number of citations. We construct the database of patent stock, citation-weighted patent stock and objection-weighted patent stock. Our analysis is pioneering work involving Japanese data, as we were unable to find any pre-existing Japanese data that considered both truncation problems and quality of the patent. Our study departs from Hall, Jaffe and Trajtenberg (2000) because of the application of objections as well as the consideration of the quality of patent citations.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 10285.
Date of creation: Sep 2007
Date of revision:
Patent; Citation; q; Market value; Innovation;
Find related papers by JEL classification:
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
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