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

被引：8
|
作者：
Chen, Yu-Shan [1 ]
Shih, Chun-Yu [2 ]
Chang, Ching-Hsun [3 ]
机构：
[1] Natl Taipei Univ, Dept Business Adm, New Taipei, Taiwan
[2] Natl Yunlin Univ Sci & Technol, Dept Business Adm, Yunlin, Taiwan
[3] Tamkang Univ, Dept Business Adm, Tamsui 25137, New Taipei, Taiwan
来源：
SCIENTOMETRICS | 2014年 / 98卷 / 02期
关键词：
Patent analysis; Patent citations; Patent counts; Market value; HHI of patents; Panel smooth transition regression (PSTR); RESEARCH-AND-DEVELOPMENT; PHARMACEUTICAL-INDUSTRY; CITATIONS; PRODUCTIVITY; PERFORMANCE; INDICATORS; INNOVATION; INFERENCE; NETWORK; FIRMS;
D O I：
10.1007/s11192-013-1110-9
中图分类号：
TP39 [计算机的应用];
学科分类号：
081203 ; 0835 ;
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.
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页码：1145 / 1159
页数：15
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