Patents as an indicator of value in Australian biotechs

Gugliotti, M and Davidson, S 2004, 'Patents as an indicator of value in Australian biotechs', Accounting Research Journal, vol. 17, no. 2, pp. 164-173.


Document type: Journal Article
Collection: Journal Articles

Title Patents as an indicator of value in Australian biotechs
Author(s) Gugliotti, M
Davidson, S
Year 2004
Journal name Accounting Research Journal
Volume number 17
Issue number 2
Start page 164
End page 173
Total pages 10
Publisher Queensland University of Technology
Abstract This paper considers whether patent activity has an impact on the stock market value of Australian biotechnology comparties. Using an event study methodology and patent events of listed biotechnology comparties from January 1998 to September 2003, the findings suggest that the patent is a weak indicator of innovative capability. Cross-sectional regression analysis finds no significant impact for either patent count, size nor age of a biotechnology company on the value of patent activity.
Subject Industry Economics and Industrial Organisation
ISSN 1030-9616
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