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Royalty rates, sub licensing considerations and joint ventures.

Malki, Elli - EconWPA - 1997

Technology transfer agreements between universities and industrial companies usually involve royalties, sublicensing considerations and allocation of equity. This article extends the analysis of my previous one ("The Economic Sense of Royalty Rates", ewp-fin/970903)to deal with sublicensing...

Persistent link: https://www.econbiz.de/10005076945

The economic sense of royalty rates.

Malki, Elli - EconWPA - 1997

Academic institutions, involved in technology transfer to industry, are always concerned about the "fairness" of the royalty rate payable to them. The common method used by practitioners is the "Industry-Standard Approach" which is based mainly on past experience. However such approach is very...

Persistent link: https://www.econbiz.de/10005134686

Intellectual Property Intensity (IPI) and the Value-Growth Effect.

Malki, Elli - EconWPA - 1997

Intellectual Property Intensity (IPI) measures the weight of IP in the firm’s total market value. IPI has a positive (convex) functional relationship with Price to Book (P/B) ratio, and thus may provide additional economic insight to the empirical value-growth effect. Growth firms have higher...

Persistent link: https://www.econbiz.de/10005561690

Intellectual property and the valuation of biotechnology

Malki, Elli - EconWPA - 1997

The role of intellectual property (IP) as an important value determinant is widely recognized. This article tries to quantify the role of IP in companies valuation by comparing a sample of biotechnology companies (46 companies included in the Genetic Engineering News Index:GEN-Dex) to the...

Persistent link: https://www.econbiz.de/10005134870

Optimal stopping made easy

Boyarchenko, Svetlana; Levendorskiy, Sergey - EconWPA - 2004

This paper presents a simple discrete time model for valuing real options. A short proof of optimal exercise rules for the standard problems in the real options theory is given in the binomial and trinomial models, and more generally, when the underlying uncertainty is modelled as a random walk...

Persistent link: https://www.econbiz.de/10005134695

News Events and Price Movements. Price Effects of Economic and Non-Economic Publications in the News Media

Schuster, Thomas - EconWPA - 2003

Numerous empirical studies have demonstrated that asset prices react rapidly, if at all, to news published in the mass media. In many cases, the information has been discounted and prices have already moved upon primary publication through news wires, press releases or firm announcements. Any...

Persistent link: https://www.econbiz.de/10005561573

Optimal Asian Multi-Currency Strategy Portfolios with Exact Risk Attribution

LOS, CORNELIS A. - EconWPA - 2004

extended to include market risk measurements for n countries. Exploiting a selection matrix based on the cash accounting … return-risk attribution accounting framework is applied to monthly return data of Hong Kong, Indonesia, Japan, Malaysia, the … Philippines, Singapore, Thailand, the USA and Germany from June 1992 through December 1997. This includes the illustrative period …

Persistent link: https://www.econbiz.de/10005125061

Fifty-Fifty. Stock Recommendations and Stock Prices. Effects and Benefits of Investment Advice in the Business Media

Schuster, Thomas - EconWPA - 2003

The business media play an active role in influencing stock prices. Statistically significant excess returns at the time of the publication of stock recommendations have been documented many times. Frequently these abnormal gains begin to accumulate long before the publication date. In most...

Persistent link: https://www.econbiz.de/10005134740

Meta-Communication and Market Dynamics. Reflexive Interactions of Financial Markets and the Mass Media

Schuster, Thomas - EconWPA - 2003

A widely held belief in financial economics suggests that stock prices always adequately reflect all available information. Price movements away from fundamentals are assumed to occur only infrequently, if at all. „False“ prices are supposed to be corrected by the counter-actions of...

Persistent link: https://www.econbiz.de/10005134753

STOCK MARKET VALUATION IN THE UNITED STATES

BISCIARI, Patrick; DURRE, Alain; NYSSENS, Alain - EconWPA - 2003

This paper gives an overview of some issues related to market aluation, focusing on the developments on the New York equity markets. The 42.4 p.c. fall in the S&P 500 price index between 24 March 2000 - when it reached its all-time high - and 31 December 2002 is situated in a very long term...

Persistent link: https://www.econbiz.de/10005125064