Patenting Behavior and Market Value - Evidence from The Global Nanometer TiO２ Industry
| Autor: | Kuan-yu Liu, 劉冠妤 |
|---|---|
| Rok vydání: | 2005 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 93 In this intellectual economic age, intangible assets have gradually become one of the most important values for enterprises. For example: patents, copyrights, trademarks, reputation, etc. In order to discuss how patent behavior influences the enterprise market value, this study used nanometer technology industries, which are recently vigorously promoted by both European countries and America, as a case study. This research centered on the nanometer titanium dioxide related patent data, which were applied for before January 14, 2003 based on the United States Patent and Trademark Office (called USPTO). The prepared patent data contains: the approved patent quantity of each firm; references cited count; references citing count; the quantity of invention persons; and the assignee of each patent. Afterwards, this study combined the nanometer titanium dioxide patents by firms in the Compustat database, which records the financial information of firms including: the common share market value; the special stock market value; the current liability; the long-term property; the current assets; the total property; the earning; the research and development expense, etc. To measure market value, this study used Tobin's Q Index to estimate both the intangible and tangible assets of each firm. Based on the literature, this study proposed a research model to examine the relationship between patents and market value in nanometer titanium dioxide industry. This research used the OLS linear regression model and the fixed effect panel data linear regression model to analyze the relationship between intangible assets (patent) and market value for the firms under the protection of a nanometer titanium dioxide patent. The result revealed that in the OLS linear regression model, the following areas have significant influence on the firm’s market value: the approved patent quantity; the research and development expense; and the total revenue. In the fixed effect panel data linear regression model the following have significant influence on the firm’s market value: the approved patent quantity; and the number of invention persons. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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