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Information Content of Business Methods Patents

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  • 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. Copyright 2006, The Eastern Finance Association.

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
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1540-6288.2006.00148.x
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    Cited by:

    1. 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.
    2. Komulainen, Mari & Takalo, Tuomas, 2009. "Does State Street lead to Europe? : The case of financial exchange innovations," Research Discussion Papers 22/2009, Bank of Finland.

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