کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
10483105 934344 2013 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Innovation and firm value: An investigation of the changing role of patents, 1985-2007
ترجمه فارسی عنوان
نوآوری و ارزش شرکت: تحقیق در مورد نقش تغییر پتنت ها، 1985-2007
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
چکیده انگلیسی
This paper examines how the relationship between firm value and patent-based indicators of inventive activity has changed over time. We use data from more than 33,000 mergers and acquisitions deals between 1985 and 2007, and distinguish between American (USPTO) and European (EPO) patents. Our results indicate that over time EPO patents have become the dominant indicator of innovative activity, while USPTO patents have no effect on firm value near the end of the sample period. The results are robust to controlling for citations and are especially strong for small firms, for firms operating in the drug and chemical industries, and when target and acquiring firms operate in different industries or countries.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Research Policy - Volume 42, Issue 8, September 2013, Pages 1496-1510
نویسندگان
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