Innovation and Market Value in Newly-Industrialized Countries: The Case of Taiwanese Electronics Firms

淡江大學機構典藏 > 商管學院 > 產業經濟學系暨研究所 > 期刊論文 > Item 987654321/23924

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題名:	Innovation and Market Value in Newly-Industrialized Countries: The Case of Taiwanese Electronics Firms
作者:	Yang, Chih-hai;Chen, Jong-rong
貢獻者:	淡江大學產業經濟學系
關鍵詞:	market value;patent;R&D market value;patent;R&D
日期:	2003-06
上傳時間:	2009-11-30 17:59:02 (UTC+8)
出版者:	East Asian Economic Association; Wiley-Blackwell
摘要:	The relationship between patents, research and development (R&D), and market value in newly industrialized countries is examined for a panel data of Taiwanese electronics firms. Empirical results show that the market value of electronics firms is strongly related to patent count and R&D expenditure in Taiwan. Controlling potential heterogeneity of patents and allowing the value of Tobin's q to vary across firms, the estimated results are quite consistent, which is encouraging for Taiwan's government as it has implemented many policies encouraging firms to commit to R&D. In addition, the significant and positive impact of the sales growth rate might refiect the expectation feature of the stock market.
關聯:	Asian Economic Journal 17(2), pp.205-220
DOI:	10.1111/1467-8381.00168
顯示於類別:	[產業經濟學系暨研究所] 期刊論文

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