Moderating effect of duration of patent examination on market value of firms: Evidence from Taiwanese publicly traded firms

被引：0

作者：

Wang, Ming-Yeu ^{[1
]}

机构：

[1] Department of Bio Business Management, National Chiayi University, 580, Sinmin Rd., Chiayi City

来源：

International Journal of Technology, Policy and Management | 2015年 / 15卷 / 02期

关键词：

Duration; Knowledge assets; Market value; Patent examination;

D O I：

10.1504/IJTPM.2015.069224

中图分类号：

学科分类号：

摘要：

Patents are acknowledged as intellectual assets that can establish legal appropriability and increase profits for firms; thus, previous literature has focused on the relationship between patent assets and market value of firms. Few studies note the uncertain examination duration encountered by patents. Therefore, this study tests the moderating effect of duration of patent examination on market value of firms by extending the hedonic model presented by Griliches and the framework of profit from innovation by Teece. The sample comprises firm-level financial and patent data from Taiwanese publicly traded firms in the electronics, computer and communications industries. The analytical results support our hypothesis that there is an inverse U-shaped moderating effect of examination duration on the relationship between patent assets and market value of firms. Based on the results, this study offers suggestions to knowledge management practitioners. © 2015 Inderscience Enterprises Ltd.

引用

页码：197 / 212

页数：15

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