Does Firm's Value Matter With Firm's Patent Quality in Technology-Intensive Industries?

Abstract

During the contemporary studies on the measurement of the patent quality, two typical research circles gradually protruded. One research circle concerns on the detailed metrics and measuring methods on the patent quality, whose members could be mostly from public policy, governance, and so forth. Another research circle pays more attention on the relationships between firm's performance, technology capability, and patent count or quality. Sometimes, the research fruits from the first community occasionally fail to timely transmit to second research community; especially the possible effects of firm's patent quality on firm's market value under the context of technology management in China were much less mentioned during the past decades. In this article, an integrated or multidimensional metrics on the patent quality evaluation are utilized to reshape the analytical model, and the possible relationships between firm's value and firm's patent quality are further explored based on a quantitative means. In empirical analyses, two technology-intensive industries in China, i.e., China's telecommunication equipment industry and China's pharmaceutical industry are conducted for case studies. The selected industries are relatively competitive, and they are all technology intensive or patent intensive. Through the theoretical hypotheses designing, and regression analyses based on the unbalanced panel data, some interesting phenomenon and conclusions could be revealed.

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