This paper analyzes the private value of patents and R&D in a sample of European firms. The analysis is based on 368 publicly traded firms whose headquarters are located in France, Germany, Great Britain, Switzerland and Sweden over the period 1985-2000. We find that firm’s Tobin’s q, defined as the ratio of market value to the replacement value of firm’s physical assets, is positively and significantly associated with R&D and patent stocks.
B. Hall, G. Thoma, S. Torrisi (2007). The Market Value of Patents and R&D: Evidence from European firms. s.l : Academy of Management.
The Market Value of Patents and R&D: Evidence from European firms
TORRISI, SALVATORE
2007
Abstract
This paper analyzes the private value of patents and R&D in a sample of European firms. The analysis is based on 368 publicly traded firms whose headquarters are located in France, Germany, Great Britain, Switzerland and Sweden over the period 1985-2000. We find that firm’s Tobin’s q, defined as the ratio of market value to the replacement value of firm’s physical assets, is positively and significantly associated with R&D and patent stocks.File in questo prodotto:
Eventuali allegati, non sono esposti
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
