Abstract
Abstract: Using data on all high- and medium-tech start-ups in the UK in 2000, this paper assesses the effect associated with a firm's decision to patent on a firm's subsequent growth between 2001 and 2005. We propose a new approach to addressing well known issues challenging identification of any patent effect: firm heterogeneity, simultaneity between firm performance and patenting, and sample selection. Our findings suggest that patentees have higher asset growth than non-patentees of between 8% and 27% per annum. © 2011 Elsevier B.V. All rights reserved.
Original language | English |
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Pages (from-to) | 1016-1027 |
Number of pages | 12 |
Journal | Research policy |
Volume | 40 |
Issue number | 7 |
Early online date | 25 Jun 2011 |
DOIs | |
Publication status | Published - Sept 2011 |
Bibliographical note
© 2011, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/Keywords
- growth
- patents
- start-ups