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| Tekijä: | Lanjouw, J.O. Schankerman, M. |
| Otsikko: | Patent quality and research productivity: Measuring innovation with multiple indicators |
| Lehti: | Economic Journal
2004 : APR, VOL. 114:495, p. 441-465 |
| Asiasana: | Innovation Patents Productivity Manufacturing Industries Technology Research USA |
| Kieli: | eng |
| Tiivistelmä: | This study analyzes the determinants of the decline in research productivity using panel data on manufacturing firms in the U.S. for the period 1980-93. The study focuses on three factors: the level of demand, the quality of patents and technological exhaustion. An index of patent 'quality' is developed using detailed patent information. It is shown that using multiple indicators substantially reduces the measured variance in quality. Research productivity at the firm level is inversely related to patent quality and the level of demand, as predicted by theory and patent quality is positively associated with the stock market value of firms. |
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