The market value of R&D, patents, and trademarks

被引：199
作者：
Sandner, Philipp G. [1 ]
Block, Joern [2 ,3 ]
机构：
[1] Univ Munich, Inst Innovat Research Technol Management & Entrep, D-80539 Munich, Germany
[2] Erasmus Univ, Ctr Adv Small Business Econ, Erasmus Sch Econ, NL-3000 DR Rotterdam, Netherlands
[3] Tech Univ Munich, D-8000 Munich, Germany
来源：
RESEARCH POLICY | 2011年 / 40卷 / 07期
关键词：
Market valuation; Tobin's q; Trademarks; Patents; Intellectual property; Value indicators; TOBINS-Q; DEVELOPMENT INVESTMENT; EMPIRICAL-ANALYSIS; INNOVATION; DIVERSIFICATION; FIRMS; PANEL; OPPOSITION; VALUATION; CITATIONS;
D O I：
10.1016/j.respol.2011.04.004
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
This paper investigates the effects of trademarks on the market value of firms. The results show that trademarks have a positive effect on firm value. Next, the firms' market values are regressed on indicators of trademark value such as trademark seniorities, the number of oppositions filed, and the number of product and services classes covered. We found that they at least partially reflect trademark value. (C) 2011 Elsevier B.V. All rights reserved.
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收藏
页码：969 / 985
页数：17
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