On the Profitability of Innovative Assets

Kornelius Kraft and Dirk Czarnitzki

No 04-38, ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research

Abstract: Successful innovative activity is a major contribution to the intangible capital of firms. Although its importance is generally acknowledged, the contribution to companies? profits is a priori unclear. We present the results of an empirical study on the effects of the patent stock on profitability. The data base is a representative sample of German manufacturing firms and we use a number of control variables including measures of competition and firm leadership. It turns out that the patent stock has a strong and robust effect on profitability.

Keywords: Innovation; Patents; Profitability; Discrete Regression Models (search for similar items in EconPapers)
JEL-codes: C25 L11 O31 O32 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (10)

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Related works:
Journal Article: On the profitability of innovative assets (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zewdip:2034

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