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. --
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Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number
04-38.
Find related papers by JEL classification: C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Cowling, Keith & Waterson, Michael, 1976.
"Price-Cost Margins and Market Structure,"
Economica,
London School of Economics and Political Science, vol. 43(171), pages 267-74, August.
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