Patents and market value in the U.S. pharmaceutical industry: new evidence from panel threshold regression

Yu-Shan Chen (), Chun-Yu Shih and Ching-Hsun Chang
Additional contact information
Yu-Shan Chen: National Taipei University
Chun-Yu Shih: National Yunlin University of Science & Technology
Ching-Hsun Chang: Tamkang University

Scientometrics, 2013, vol. 97, issue 2, No 3, 176 pages

Abstract: Abstract This paper applies panel threshold regression model to verify there is a triple threshold effect of patent citations/sales on the relationship between patent counts/sales and market value/sales in the American pharmaceutical industry. The results demonstrate that patent citations/sales moderates the relationship between patent counts/sales and market value/sales (i.e., the relationship between patent counts and market value). When patent citations/sales is less than or equal to the lowest threshold, 4.68, there is no significant relationship between patent counts and market value. Once patent citations/sales is more than the lowest threshold, there is a positive relationship between patent counts and market value. This study points out that the third regime is optimal because the extent of the positive relationship between patent counts and market value is most.

Keywords: Patent analysis; Patent citations; Patent counts; Market value; Panel threshold regression (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://link.springer.com/10.1007/s11192-013-0999-3 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:scient:v:97:y:2013:i:2:d:10.1007_s11192-013-0999-3

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/11192

DOI: 10.1007/s11192-013-0999-3

Access Statistics for this article

Scientometrics is currently edited by Wolfgang Glänzel

More articles in Scientometrics from Springer, Akadémiai Kiadó
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().