IDEAS home Printed from https://ideas.repec.org/p/inh/wpaper/2018-3.html
   My bibliography  Save this paper

A Man is Known by the Company He Keeps? : A Structural Relationship Between Backward Citation and Forward Citation of Patents

Author

Listed:
  • Junbyoung Oh

    (Department of Economics, Inha University)

  • Wonchang Hur

    (College of Business Administration, Inha University)

Abstract

Inventing is a recombinant process that involves searching and recombining differ- ent streams of knowledge. The value of invention is associated with not only how many prior inventions are considered, but also how they are related to each other. We introduce social network analysis broadly used in the social capital theory, and extend the dimension of analysis for the evaluation of patent value. This study em- ploys U.S. pharmaceutical patent data and investigates whether the network charac- teristic of backward citations have significant effect on the future patent value. The empirical results suggest that the network features of backward citations measured by cohesion, constraint, and efficiency have statistically significant implication on the value of invention in both level and depreciation rate. The study also provides empirical evidence that the exploration strategy is more significantly and positively correlated with the future value of invention compared to the exploitation strategy of inventors.

Suggested Citation

  • Junbyoung Oh & Wonchang Hur, 2018. "A Man is Known by the Company He Keeps? : A Structural Relationship Between Backward Citation and Forward Citation of Patents," Inha University IBER Working Paper Series 2018-3, Inha University, Institute of Business and Economic Research.
  • Handle: RePEc:inh:wpaper:2018-3
    as

    Download full text from publisher

    File URL: https://drive.google.com/file/d/17X_QEikCd4w2j7G4tVc9FGpsH6bRzvZh/view?usp=sharing
    File Function: First version, 2018
    Download Restriction: no

    More about this item

    Keywords

    Patent value; Social network analysis; Network structure of backward citation;

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inh:wpaper:2018-3. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Hyunduk Suh). General contact details of provider: http://edirc.repec.org/data/deinhkr.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.