Value Relevance of Nonfinancial Information: The Case of Patent Data |
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Authors: | Hirschey Mark Richardson Vernon J. Scholz Susan |
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Affiliation: | (1) School of Business, University of Kansas, USA |
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Abstract: | When used in conjunction with traditional R&D expenditure information, scientific information on patent quality appear to give investors a more useful basis upon which to judge the economic merit of the firm's R&D effort. This complementary relation suggests that consistent disclosure of patent quality information would be helpful to investors in their ongoing assessment of firms in the high tech sector. |
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Keywords: | valuation patent quality R& D expenditures |
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