 Market value of R&D, patents, and organizational capital: Finnish evidenceEconomics of Innovation and New Technology, 2014, vol. 23, issue 4, 353-377 Abstract: This paper studies how knowledge and organizational capital (OC) affect the market valuation of firms. Detailed occupational information from Finnish linked employer-employee data is used to form new estimates of firms' organizational investments. The market value of OC is analyzed together with research and development (R&D) and patent variables. A nonlinear least-squares regression is used to investigate the contribution of these variables to the market value of Finnish firms during the period 1995-2008. The results show that OC, R&D, patents, and patent citations all have positive and significant effects on market value. A particularly interesting finding is that the effect of OC appears to be even stronger than the effect of R&D investments. This study also provides internationally comparable results on the market valuation of knowledge assets that indicate that in Finland, the market valuation of R&D, but not patents, is lower than in the USA and many European countries. Date: 2014 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:ecinnt:v:23:y:2014:i:4:p:353-377 Ordering information: This journal article can be ordered from DOI: 10.1080/10438599.2013.864923 Access Statistics for this article Economics of Innovation and New Technology is currently edited by Professor Cristiano Antonelli More articles in Economics of Innovation and New Technology from Taylor & Francis Journals |
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