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In this paper, I argue that intangible capital is not a distinct input to production like physical capital or labor but rather it is the glue that creates value from other inputs. This perspective naturally leads to an empirical model in which intangible capital is defined in terms of adjustment...
Persistent link: https://www.econbiz.de/10013102059
benchmark indices. Both kinds of alternative models improve performance evaluation of actively managed portfolios, with the …
Persistent link: https://www.econbiz.de/10013106957
after the end of the process and fully exploit their bargaining leverage, then patent holders aspire to disclose always … after the end of the process. However, if a patent holder cannot rely on the other participants to always contribute to the … cross-licensing agreements that eliminate the strategic aspect of patent disclosure, and show that, in an institutional …
Persistent link: https://www.econbiz.de/10013066245
patent race where firms do R&D to develop products that are close substitutes. The effects of a standard are shown to depend …
Persistent link: https://www.econbiz.de/10013249565
A major policy issue in standard setting is that patents that are ex-ante not that important may, by being included into the standard, become standard-essential patents (SEPs). In an attempt to curb the monopoly power that they create, most standard-setting organizations require the owners of...
Persistent link: https://www.econbiz.de/10013034678
latent variable common to a set of four indicators: the number of patent claims, forward citations, backward citations and … important. Our measure of quality is significantly related to subsequent decisions to renew a patent and to litigate … infringements. Using patent and R&D data for 100 U.S. manufacturing firms, we find that adjusting for quality removes much of the …
Persistent link: https://www.econbiz.de/10013217927
We find that several recently proposed consumption-based models of stock returns, when evaluated using an optimal set of managed portfolios and the associated model-implied conditional moment restrictions, fail to capture key features of risk premiums in equity markets. To arrive at these...
Persistent link: https://www.econbiz.de/10013137023
Some research has suggested that companies with defined benefit (DB) pensions are sometimes significantly misvalued by the market. This is because the measures of pension cost and pension net liabilities embedded in financial statements, taken at face value, can provide very misleading picture...
Persistent link: https://www.econbiz.de/10012759638
Many studies measure capital stocks and effective tax rates for different industries, but they consider only tangible assets such as equipment, structures, inventories, and land. Some of these studies also have estimated that the welfare cost of tax differences among these assets under prior law...
Persistent link: https://www.econbiz.de/10012760243
better proxy for human capital and brand rankings, and exhibit a strong association with patent values …
Persistent link: https://www.econbiz.de/10012868198