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Market Value and Patent Quality in Japanese Manufacturing Firms


  • Yasuo, Nakanishi
  • Setsuo, Yamada


We 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.

Suggested Citation

  • Yasuo, Nakanishi & Setsuo, Yamada, 2007. "Market Value and Patent Quality in Japanese Manufacturing Firms," MPRA Paper 10285, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:10285

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    More about this item


    Patent; Citation; q; Market value; Innovation;

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D


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