Explore the new relationship between patents and market value: A panel smooth transition regression (PSTR) approach

Yu Shan Chen, Chun Yu Shih, Ching Hsun Chang*

*此作品的通信作者

研究成果: 雜誌貢獻期刊論文同行評審

6 引文 斯高帕斯(Scopus)

摘要

This paper is the first research applying the new approach, panel smooth transition regression (PSTR) model, in the field of patent analysis. This study uses PSTR model to verify whether there is a single threshold effect of Herfindahl-Hirschman Index of patents (HHI of patents) on the relationship between patents and market value in the American pharmaceutical industry. The results demonstrate that HHI of patents moderates the relationship between market value and patent performance, patent counts/assets and patent citations/assets. When HHI of patents is less than or equal to the threshold value, 0.3220, the positive relationship between patent performance and market value is lower. Once HHI of patents is more than the threshold value, 0.3220, the positive relationship between patent performance and market value is higher. This study points out that the second regime is optimal because the extent of the positive relationship between patent performance and market value is higher.

原文英語
頁(從 - 到)1145-1159
頁數15
期刊Scientometrics
98
發行號2
DOIs
出版狀態已發佈 - 2014 二月
對外發佈

ASJC Scopus subject areas

  • 社會科學 (全部)
  • 電腦科學應用
  • 圖書館與資訊科學

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