Using neural network to analyze the influence of the patent performance upon the market value of the US pharmaceutical companies

This study applies the artificial neural network technique to explore the influence of quantitative and qualitative patent indicators upon market value of the pharmaceutical companies in US. The results show that Herfindahl-Hirschman Index of patents influences negatively market value of the pharmaceutical companies in US, and their technological independence positively affects their market value. In addition, this study also finds out that patent citations of the American pharmaceutical companies have an inverse U-shaped effect upon their market value.