期刊名称：Journal of Knowledge Management, Economics and Information Technology
印刷版ISSN：2069-5934
出版年度：2013
卷号：3
期号：6
出版社：ScientificPapers.org
摘要：The patent is regarded as an indicator of a firm’s innovativeness and many studies have tried to use it as a proxy for the same. However, little research focuses on the impact of the substantial value of patents on stock prices. This study employs event study analysis to explore the stock market reaction to the announcement of the “Patent Value Brand” by the Tokyo Stock Exchange and the “YK Value,” which is used to measure the economic value of a patent during the selection process. Our finding reveals little evidence for positive and significant stock price reactions to the brand announcement around the event day.
关键词：event study ; innovation ; Japan’s stock market ; Patent ; Tokyo Stock Exchange
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