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The market value of R&D, patents, and trademarks |
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| Authors: | Philipp G Sandner Joern Block |
| Institution: | a Centre for Advanced Small Business Economics, Erasmus School of Economics, Erasmus University Rotterdam, P.O. Box 1738, 3000 DR Rotterdam, The Netherlands b Schöller Chair in Technology and Innovation Management, Technische Universität München, Germany c Institute for Innovation Research, Technology Management and Entrepreneurship, University of Munich, Kaulbachstrasse 45, D-80539 Munich, Germany |
| Abstract: | This paper investigates the effects of trademarks on the market value of firms. The results show that trademarks have a positive effect on firm value. Next, the firms’ market values are regressed on indicators of trademark value such as trademark seniorities, the number of oppositions filed, and the number of product and services classes covered. We found that they at least partially reflect trademark value. |
| Keywords: | Market valuation Tobin's q Trademarks Patents Intellectual property Value indicators |
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