Market value, R&D and intellectual property: an empirical analysis of large Australian firms

Derek Bosworth; Mark Rogers

doi:10.1111/1475-4932.t01-1-00026

Market value, R&D and intellectual property: an empirical analysis of large Australian firms

Derek Bosworth, Mark Rogers

Economics, Finance and Entrepreneurship

Research output: Contribution to journal › Article › peer-review

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 language	English
Pages (from-to)	323-337
Number of pages	15
Journal	Economic Record
Volume	77
Issue number	239
DOIs	https://doi.org/10.1111/1475-4932.t01-1-00026
Publication status	Published - Dec 2001

Access to Document

10.1111/1475-4932.t01-1-00026

Cite this

@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{\textquoteright}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 = dec,

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",

}

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

SN - 0013-0249

VL - 77

SP - 323

EP - 337

JO - Economic Record

JF - Economic Record

IS - 239

ER -

Market value, R&D and intellectual property: an empirical analysis of large Australian firms

Abstract

Access to Document

Other files and links

Fingerprint

Cite this