Patents and market value in the US pharmaceutical industry: new evidence from panel threshold regression

被引：15

作者：

Chen, Yu-Shan ^{[1
]}

Shih, Chun-Yu ^{[2
]}

Chang, Ching-Hsun ^{[3
]}

机构：

[1] Natl Taipei Univ, Dept Business Adm, New Taipei City 237, Taiwan

[2] Natl Yunlin Univ Sci & Technol, Dept Business Adm, Yunlin, Taiwan

[3] Tamkang Univ, Dept Business Adm, New Taipei City, Taiwan

来源：

SCIENTOMETRICS | 2013年 / 97卷 / 02期

关键词：

Patent analysis; Patent citations; Patent counts; Market value; Panel threshold regression; RESEARCH-AND-DEVELOPMENT; UNIT-ROOT TESTS; CITATIONS; INNOVATION; PRODUCTIVITY; FLOWS; STOCK; FIRMS;

D O I：

10.1007/s11192-013-0999-3

中图分类号：

TP39 [计算机的应用];

学科分类号：

081203 ; 0835 ;

摘要：

This paper applies panel threshold regression model to verify there is a triple threshold effect of patent citations/sales on the relationship between patent counts/sales and market value/sales in the American pharmaceutical industry. The results demonstrate that patent citations/sales moderates the relationship between patent counts/sales and market value/sales (i.e., the relationship between patent counts and market value). When patent citations/sales is less than or equal to the lowest threshold, 4.68, there is no significant relationship between patent counts and market value. Once patent citations/sales is more than the lowest threshold, there is a positive relationship between patent counts and market value. This study points out that the third regime is optimal because the extent of the positive relationship between patent counts and market value is most.

引用

页码：161 / 176

页数：16

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