Patent Ownership Fragmentation and Market Value: An Empirical Analysis

2016 ◽  
Author(s):  
Mahdiyeh Entezarkheir
Keyword(s):  
Empirical Analysis ◽  
Market Value ◽  
Ownership Fragmentation

Abstract: An Empirical Assessment of Lessee Disclosure Policy

1977 ◽  
Vol 12 (4) ◽  
pp. 655-655
Author(s):  
John S. Hughes ◽  
George S. Oldfield
Keyword(s):  
Empirical Analysis ◽  
Balance Sheet ◽  
Market Value ◽  
Common Stock ◽  
Security Prices ◽  
Risk Class ◽  
Disclosure Policy ◽  
Empirical Assessment ◽  
Valuation Model ◽  
The Empirical Analysis

The purpose of this paper is to provide evidence concerning investor reactions to off-balance sheet disclosures of concancellable leases as reflected in security prices. A valuation model is defined based upon the work of Modigliani and Miller which expresses the market value of the firm's common stock as a function of lease indebtedness. Data for the empirical analysis are obtained from Compustat and SEC form 10 K's. Crosssectional regressions are run by risk class on samples of 620 firms reporting rent expense, 432 firms disclosing lease commitments, and 139 firms reporting present values of so-called “financing” leases.

scholarly journals Market Value of Innovation: An Empirical Analysis on China's Stock Market

2015 ◽  
Vol 55 ◽  
pp. 1275-1284 ◽  
Author(s):  
Meng Xiangying ◽  
Zhang Yueyan ◽  
Wei Xianhua
Keyword(s):  
Stock Market ◽  
Empirical Analysis ◽  
Market Value

scholarly journals Financial Sector Transformation and Income Inequality-An Empirical Analysis

e-Finanse ◽  
2016 ◽  
Vol 12 (2) ◽  
pp. 36-48
Author(s):  
Hanna K. Szymborska
Keyword(s):  
Income Inequality ◽  
Stock Market ◽  
Empirical Analysis ◽  
Econometric Model ◽  
Market Value ◽  
Financial Sector ◽  
Oecd Countries ◽  
Private Credit ◽  
The Relationship ◽  
Income Concentration

Abstract This paper examines the relationship between financial sector transformation and income inequality. We construct an econometric model of income concentration for a panel of 16 OECD countries in the years 1995-2009. From our study, financial sector transformation, measured individually by three indicators (GDP share of stock market value traded, bank income and private credit), emerges as a nexus of complex and interconnected phenomena, which are strongly associated with the concentration of income at the top of the distribution.

scholarly journals What drives the value of football clubs: An approach based on private and socio-emotional benefits

2016 ◽  
Vol 14 (1) ◽  
pp. 673-683 ◽  
Author(s):  
Riccardo Tiscini ◽  
Alberto Dello Strologo
Keyword(s):  
Empirical Analysis ◽  
Market Value ◽  
Theoretical Explanation ◽  
Private Benefits ◽  
Business Valuation ◽  
Book Value ◽  
Private Benefits Of Control ◽  
Operating Profit ◽  
Football Clubs ◽  
The Difference

The present paper shows how, in the soccer clubs sector, where the average financial results are negative, the value of football clubs is not related to income, but to sales turnover and gives a theoretical explanation for that. The literature has shown that the profitability of the industry is generally negative already at the level of operating profit. However, the difference between market value and book value is broadly positive, showing that the market recognizes to these companies a quid pluris in terms of value, not explained by the most rational and generally accepted methods of business valuation. The present study aims to explain, through an empirical analysis, why the value of a football company can not be estimated only on the basis of expected financial results, but it requires considering the overall benefits for shareholders, represented also by private benefits of control and socio-emotional benefits.

PATENT OWNERSHIP FRAGMENTATION AND MARKET VALUE: AN EMPIRICAL ANALYSIS

2019 ◽  
Vol 23 (02) ◽  
pp. 1950012
Author(s):  
MAHDIYEH ENTEZARKHEIR
Keyword(s):  
Intellectual Property Rights ◽  
Market Value ◽  
Manufacturing Firms ◽  
Time Effect ◽  
Bargaining Position ◽  
Ownership Fragmentation ◽  
Portfolio Size ◽  
Patent Thickets ◽  
Patent Portfolio ◽  
The U.S

Patent ownership Fragmentation following the U.S. pro-patent shifts has built overlapping intellectual property rights or patent thickets. This has made the use of others’ innovations costlier due to transaction costs, licensing fees, and hold-up. Using panel data on 2,441 public U.S. manufacturing firms for 1976–2002, I find that patent thickets lower firms’ expected profit and their market value. I also find that firms with a large patent portfolio experience a smaller effect, likely because stronger bargaining position lowers the hold-up likelihood. There is no systematic time effect from patent thickets on firms’ market value with a large patent portfolio size.

Market value of innovation: An empirical analysis on China's stock market

2016 ◽  
Author(s):  
Zhang Yueyan ◽  
Li Xianjun ◽  
Wei Xianhua ◽  
Meng Xiangying ◽  
Meng Donghui
Keyword(s):  
Stock Market ◽  
Empirical Analysis ◽  
Market Value
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