Market value, R&D and intellectual property: An empirical analysis of large Australian firms

被引：113

作者：

Bosworth, D ^{[1
]}

Rogers, M

机构：

[1] Univ Manchester, Manchester Sch Management, Manchester M13 9PL, Lancs, England

[2] Harris Manchester Coll, Oxford, England

[3] Univ Melbourne, Melbourne Inst Appl Econ & Social Res, Parkville, Vic 3052, Australia

来源：

ECONOMIC RECORD | 2001年 / 77卷 / 239期

关键词：

D O I：

10.1111/1475-4932.t01-1-00026

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper considers the value of innovation to large Australian firms. Specifically, we investigate how R&D and intellectual property activity influences the market value of firms, using a Tobin's q approach. R&D data are available for the period 1994-96 and data on patent, trade mark and design applications for 1996. The findings suggest that R&D and patent activity are positively and significantly associated with market value. The results also suggest that private returns to R&D in Australia are low by international standards.

引用

页码：323 / 337

页数：15