Antecedents of patent value using exchange option models: Evidence from a panel data analysis

Research output: Contribution to journalArticle

8 Citations (Scopus)

Abstract

This paper examines the patent impact factor by an empirical study using panel data. To investigate the impact factor of patent value, this study conducts a sensitivity analysis of a patent evaluation model within the framework of a real option, while considering the uncertainties associated with both patent counts and the amount of R&D per patent, and develops an empirical analysis method for examining the impact factor of a patent using an unbalanced two-way fixed effects model. The empirical results indicate that the increase of patent value accords with the increase in the patent counts, volatility and patent lifetime. Although patent value declines with the amount of R&D per patent, the impact is not significant. However, reducing cost, raising patent counts and enhancing innovation efficiency offer a feasible method for a firm to increase patent value.

Original languageEnglish
Pages (from-to)81-86
Number of pages6
JournalJournal of Business Research
Volume64
Issue number1
DOIs
Publication statusPublished - 2011 Jan 1

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Patent value
Panel data analysis
Patents
Exchange option
Impact factor
Panel data
Empirical analysis
Fixed effects model
Empirical results
Uncertainty
Innovation
Sensitivity analysis
Real options
Empirical study
Costs
Evaluation model

All Science Journal Classification (ASJC) codes

  • Marketing

Cite this

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Antecedents of patent value using exchange option models : Evidence from a panel data analysis. / Wu, Ming-Cheng.

In: Journal of Business Research, Vol. 64, No. 1, 01.01.2011, p. 81-86.

Research output: Contribution to journalArticle

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