On the profitability of innovative assets

被引：40

作者：

Czarnitzki, Dirk ^{[1
,3
,4
]}

Kraft, Kornelius ^{[2
,4
]}

机构：

[1] Katholieke Univ Leuven, Dept Managerial Econ Strategy & Innovat, B-3000 Louvain, Belgium

[2] Univ Dortmund, Dept Econ, D-44227 Dortmund, Germany

[3] Katholieke Univ Leuven, Steunpunt O&O Indicatoren, Leumen, Belgium

[4] Ctr European Econ Res ZEW, Mannheim, Germany

来源：

APPLIED ECONOMICS | 2010年 / 42卷 / 15期

关键词：

R-AND-D; TECHNOLOGICAL KNOWLEDGE; AGENCY COSTS; MARKET VALUE; PATENTS; MODEL; FIRM; IMITATION; BUSINESS; GROWTH;

D O I：

10.1080/00036840701749019

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Successful innovative activity is a major contribution to the intangible capital of firms. Although its importance is generally acknowledged, the contribution to companies' profits is a priori unclear. We present the results of an empirical study on the effects of the patent stock on profitability. The database is a representative sample of German manufacturing firms and we use a number of control variables including measures of competition and firm governance. It turns out that the patent stock has a strong and robust effect on profitability.

引用

页码：1941 / 1953

页数：13

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