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Patents are widely used in the literature as a measure of firm-level innovation. It is regarded that patents improve a …-function type of Tobin's q equations on R&D, patents, and citations. Surprisingly, I find that patents and citations are weakly … firm's operational environment and ultimately increase the value of the firm. However, the relationship between patents and …
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characterized by the amount of joint occurrences of patents in technological fields. Based on a theoretical framework using an … ; relatedness ; patent statistics ; tobin's q ; economies of scope …
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In emerging markets, the deviation between the ultimate controlling shareholders' voting rights and their cash flow rights (hereafter “DVC”) in the listed firms is quite prevalent. DVC could be introduced due to the ultimate controlling shareholders' opportunistic incentives, as well as by...
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