Tech Stock Valuation

Mark Hirschey
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Mark Hirschey: University of Kansas, Lawrence, U.S.A.

in Elsevier Monographs from Elsevier, currently edited by Candice Janco

Abstract: Tech Stock Valuation extends the R&D literature by providing detailed direct evidence on the market value implications of inventive and innovative output. Specifically, the text demonstrates that stock-price effects of patent output are most pronounced in the case of high-quality patents, where patent quality is measured by scientific merit. Scientific measures of patent quality give students a valuable new tool that can be used to measure R&D program effectiveness. At the same time, it gives investors a new tool to help them assess the value of hard-to-measure intangible assets. The book is an ideal resource for professionals working in finance and accounting; investment professionals and industry analysts who work for companies that engage in research and development; MBA students; economists working in industrial organizations, microeconomics, and contract theory. *Provides detailed direct evidence on the market value implications of inventive and innovative output *Based on recent research, much of which Dr. Hirschey has pioneered *Gives financial professionals a new tool for assessing R&D quality and its relation to market valuation

Date: 2003 Originally published 2003-06-17.
Edition: 1
ISBN: 978-0-12-349704-8
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