Hirukawa, Masayuki; Ueda, Masako - C.E.P.R. Discussion Papers - 2008
impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this … measure of innovation alternative to patent count. Unlike the impact on patent count, we do not find that VC investment … and material. Therefore, our finding suggests that, at industry level, VC investment increases the patent propensity but …