MTEI Seminar by Prof. Michael Heeley, Colorado School of Mines
Event details
| Date | 18.11.2013 |
| Hour | 10:00 › 11:30 |
| Speaker | Prof. Michael Heeley, Colorado School of Mines |
| Location | |
| Category | Conferences - Seminars |
"Capturing Value Through Patenting: An Exploration Of Dense Versus Dispersed Patent Portfolios"
Abstract
The importance of patented inventions in generating firm value has long been recognized. In this research, we investigate the assumption that dense patent portfolios are generally associated with increased value and argue that in certain contexts, dispersed portfolios will actually be more positively associated with firm value. We hypothesize that the recency (or age) of the knowledge underlying the patent portfolio and the competitiveness of the technological environment moderate the patent portfolio density–firm value relationship. We find that dense patent portfolios are associated with increased stock returns when the technological knowledge base is mature and industry technological competitiveness is high. However, dispersed patent portfolios are associated with increased stock returns when the technological knowledge base is nascent and industry technological competitiveness is low. As such, we make an important theoretical contribution by showing when firm value is best promoted through creating stronger versus weaker barriers around innovations.
Abstract
The importance of patented inventions in generating firm value has long been recognized. In this research, we investigate the assumption that dense patent portfolios are generally associated with increased value and argue that in certain contexts, dispersed portfolios will actually be more positively associated with firm value. We hypothesize that the recency (or age) of the knowledge underlying the patent portfolio and the competitiveness of the technological environment moderate the patent portfolio density–firm value relationship. We find that dense patent portfolios are associated with increased stock returns when the technological knowledge base is mature and industry technological competitiveness is high. However, dispersed patent portfolios are associated with increased stock returns when the technological knowledge base is nascent and industry technological competitiveness is low. As such, we make an important theoretical contribution by showing when firm value is best promoted through creating stronger versus weaker barriers around innovations.
Practical information
- General public
- Free
Contact
- mtei@epfl.ch