Market value, R&D and intellectual property

an empirical analysis of large Australian firms

Derek Bosworth, Mark Rogers

Research output: Contribution to journalArticle

Abstract

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.
Original languageEnglish
Pages (from-to)323-337
Number of pages15
JournalEconomic Record
Volume77
Issue number239
DOIs
Publication statusPublished - Dec 2001

Fingerprint

Empirical analysis
Market value
Patents
Intellectual property
Innovation
International standards
Influence activities
Tobin's Q
Trademark

Cite this

Bosworth, Derek ; Rogers, Mark. / Market value, R&D and intellectual property : an empirical analysis of large Australian firms. In: Economic Record. 2001 ; Vol. 77, No. 239. pp. 323-337.
@article{bf336061b92f449cbf0217a4df841c01,
title = "Market value, R&D and intellectual property: an empirical analysis of large Australian firms",
abstract = "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.",
author = "Derek Bosworth and Mark Rogers",
year = "2001",
month = "12",
doi = "10.1111/1475-4932.t01-1-00026",
language = "English",
volume = "77",
pages = "323--337",
journal = "Economic Record",
issn = "0013-0249",
publisher = "Wiley-Blackwell",
number = "239",

}

Market value, R&D and intellectual property : an empirical analysis of large Australian firms. / Bosworth, Derek; Rogers, Mark.

In: Economic Record, Vol. 77, No. 239, 12.2001, p. 323-337.

Research output: Contribution to journalArticle

TY - JOUR

T1 - Market value, R&D and intellectual property

T2 - an empirical analysis of large Australian firms

AU - Bosworth, Derek

AU - Rogers, Mark

PY - 2001/12

Y1 - 2001/12

N2 - 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.

AB - 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.

UR - http://onlinelibrary.wiley.com/doi/10.1111/1475-4932.t01-1-00026/abstract

U2 - 10.1111/1475-4932.t01-1-00026

DO - 10.1111/1475-4932.t01-1-00026

M3 - Article

VL - 77

SP - 323

EP - 337

JO - Economic Record

JF - Economic Record

SN - 0013-0249

IS - 239

ER -