Hall, Bronwyn H.; Jaffe, Adam; Trajtenberg, Manuel - EconWPA - 2001
As patent data become more available in machine-readable form, an increasing number of researchers have begun to use … the economic meaning of these citation-based patent measures using the financial market valuation of the firms that own … measures of Tobin's Q for the firms. We find that citation-weighted patent stocks are more highly correlated with market value …