Value Relevance of Nonfinancial Information: The Case of Patent Data

Mark Hirschey, Vernon J Richardson and Susan Scholz

Review of Quantitative Finance and Accounting, 2001, vol. 17, issue 3, 223-35

Abstract: When used in conjunction with traditional R&D expenditure information, scientific information on patent quality appear to give investors a more useful basis upon which to judge the economic merit of the firm's R&D effort. This complementary relation suggests that consistent disclosure of patent quality information would be helpful to investors in their ongoing assessment of firms in the high tech sector. Copyright 2001 by Kluwer Academic Publishers

Date: 2001
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