Innovation and Market Value.

This paper surveys recent findings about how the financial markets value the knowledge assets of publicly traded firms. The motivation for using market value equation to price knowledge assets is discussed and the theory behind this equation is briefly presented. Then the empirical literature that relates Tobin's q to R&D and patent measures is surveyed and new results based on the US data through 1995 are presented.

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Year of publication:	1999
Authors:	Hall, B.H.
Institutions:	Economics Group, Nuffield College, University of Oxford
Subject:	FINANCIAL MARKET \| INNOVATIONS \| PRICES

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Series:	Economics Papers.
Type of publication:	Book / Working Paper
Notes:	34 pages
Classification:	G12 - Asset Pricing ; G13 - Contingent Pricing; Futures Pricing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005812240