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Information Content of Business Methods Patents

Author

Listed:
  • Brian Boscaljon
  • Greg Filbeck
  • Tim Smaby

Abstract

We examine the market reaction to business method patents granted to publicly traded firms. Our findings suggest that the State Street decision represents a turning point not only for the growth in the number of business method patent filings, but also in the market's awareness and perception of value creation for the filing firms. The granting of a business method patent evokes a positive average stock price reaction, especially in the post‐State Street period. Cross‐sectional differences in abnormal returns depend on the type of patent granted. The market reaction also differs based on industry classification.

Suggested Citation

  • Brian Boscaljon & Greg Filbeck & Tim Smaby, 2006. "Information Content of Business Methods Patents," The Financial Review, Eastern Finance Association, vol. 41(3), pages 387-404, August.
    • Handle: RePEc:bla:finrev:v:41:y:2006:i:3:p:387-404
    DOI: 10.1111/j.1540-6288.2006.00148.x
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    Cited by:

    1. Mari Komulainen & Tuomas Takalo, 2013. "Does State Street Lead to Europe? The Case of Financial Exchange Innovations," European Financial Management, European Financial Management Association, vol. 19(3), pages 521-557, June.
    2. repec:zbw:bofrdp:2009_022 is not listed on IDEAS
    3. Robert M. Hunt, 2010. "Business Method Patents And U.S. Financial Services," Contemporary Economic Policy, Western Economic Association International, vol. 28(3), pages 322-352, July.
    4. Tian Heong Chan & Haibo Liu & Steffen Keck & Wenjie Tang, 2023. "When do teams generate valuable inventions? The moderating role of invention integrality on the effects of expertise similarity, network cohesion, and gender diversity," Production and Operations Management, Production and Operations Management Society, vol. 32(6), pages 1760-1777, June.
    5. Mari Komulainen & Tuomas Takalo, 2013. "Does State Street Lead to Europe? The Case of Financial Exchange Innovations," European Financial Management, European Financial Management Association, vol. 19(3), pages 521-557, June.

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