Nakanishi, Yasuo and Yamada, Setsuo (2007): Market Value and Patent Quality in Japanese Manufacturing Firms.
This is the latest version of this item.
Download (61kB) | Preview
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.
|Item Type:||MPRA Paper|
|Original Title:||Market Value and Patent Quality in Japanese Manufacturing Firms|
|Keywords:||Patent, Citation, q, Market value, Innovation|
|Subjects:||O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development; Intellectual Property Rights > O32 - Management of Technological Innovation and R&D|
|Depositing User:||Yasuo Nakanishi|
|Date Deposited:||28. Sep 2008 00:16|
|Last Modified:||14. Feb 2013 21:41|
Cockburn,I. and Griliches.Z. 1988. "Industry effects and appropriability measures in the stock market's valuation of R\&D and Patents, " American Economic Review 78: 419-423.
Goto,A. and Motohashi.K. 2007. "Development and Innovation of a Paten Database, " Web Site ;The Institute of Intellectual Property (IIP).
Griliches,Z. 1980. "Patent Statistics as Economic Indicators:A Survey, " Journal of Economic Literature 28:1661-1707.
Grossman. G. and Helpman. E. 1991. Innovation and Growth, Cambridge:The MIT Press.
Hall,~B . and Mairesse. ~J. 1995. "Exploring the relationship between R\&D and productivity in French manufacturing firms," Journal of Econometrics 65:263-293.
Hall,B ., Jaff. A. and Trajtenberg. M. 2000. "Market value and patent citations: A First Look," National Bureau of Economic Research Working Paper No.7741.
Hall,B ., Jaff. A. and Trajtenberg. M. 2005. "Market value and patent citations," RAND Journal of Economics} 36:16-38.
Haneda,S., and Odagiri.M. 1997. "Appropritation of returns from technological assets and the value of patents and R\&D in Japanese high-tech firms," Economics of Innovation and New Technology 5:303-321.
Lanjouw,J. and Schankerman. M. 2001. "Characteristics of Patent Litigation: a Window on Competition," Rand Journal of Economics 32:129~151.
Lanjouw,J. and Schankerman. M. 2004. "Patent Quality and Research Productivity : Measuring Innovation with Multiple Indicators," Economic Journal 114:441~465.
Miyagawa,T. and Kim. G. 2006. "The Quantitative Assessment of Organization Capital," Research Institute of Economy, Trade and Industry Discussion Paper No.06-J-048. Porter. M. 1990. The Competitive advantage of Nations, New York:Free Press.
Schankerman,M. 1998. "How Valuable is Patent Protection? Estimates by Technology Field," RAND Journal of Economics 29,77-107.
Schumpeter. J. 1942. Capitalism, Socialism and Democracy, New York: Harper and Row.
Trajtenberg,M. 1990. "A Penny for Your Quotes:Patent Citations and the Value of Innovations," RAND Journal of Economics 21:172-189.
Available Versions of this Item
Market Value and Patent Quality in Japanese Manufacturing Firms. (deposited 04. Sep 2008 07:39)
- Market Value and Patent Quality in Japanese Manufacturing Firms. (deposited 28. Sep 2008 00:16) [Currently Displayed]