What do patent indicators really measure

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What do patent indicators really measure

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dc.contributor.author Reitzig, Markus en_US
dc.date.accessioned 2009-02-04T10:24:53Z
dc.date.available 2009-02-04T10:24:53Z
dc.date.issued 2003-11-13T00:00:00Z en_US
dc.identifier.uri http://hdl.handle.net/10398/6807
dc.description.abstract Patent indicators are widely used to assess innovative output. Despite the large variety of empirical studies in the field, however, the precise meaning of these indicators and their obvious relation to patent value is still based on assumptions and intuitions. This paper provides the first empirical test of patent indicators as value measures in the structural form. It disentangles the different effects reflected in patent indicators and enhances our understanding why inventions are valuable at all. Using a newly assembled data set on European polymer patents, current assumptions on the innovation incentives set by patentability requirements (novelty, inventive activity) are tested. The estimations are carried out using a custom-tailored two stage discrete choice probit model yet unknown in the literature. The results support the assumptions that novelty and inventive activity enhance a patent’s value. They confirm the importance of backward citations, family size, and forward citations as va lue indicators. However, they expand on and partly break with the respective explanations why patent indicators correlate with profitability. en_US
dc.format.extent 25 s. en_US
dc.language eng en_US
dc.relation.ispartofseries LEFIC working paper;2003-1 en_US
dc.subject.other værdiansættelse en_US
dc.subject.other teknologisk udvikling en_US
dc.subject.other innovation en_US
dc.subject.other patenter en_US
dc.title What do patent indicators really measure en_US
dc.type wp en_US
dc.accessionstatus modt03nov13 inrumo en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for Industriøkonomi og Virksomhedsstrategi en_US
dc.contributor.department Center for Law, Economics and Financial Institutions at CBS
dc.contributor.departmentshort LEFIC en_US
dc.contributor.departmentshort LEFIC
dc.contributor.departmentshort IVS
dc.contributor.departmentuk Department of Industrial Economics & Strategy en_US
dc.contributor.departmentuk Department of Industrial Economics & Strategy
dc.contributor.departmentukshort IES
dc.idnumber x656314450 en_US
dc.publisher.city København en_US
dc.publisher.year 2003 en_US
dc.title.subtitle testing current theory on value drivers of innovations within a structural two-stage discrete choice simultaneous equation model en_US


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