Drawing on the reputation literature and signaling theory, this article builds on work that looks at patents as reputation signals. We build a multi-industry database of patents that expire due to lack of maintenance fee payments and test for a relationship between these patents and the firm’s...

We find that internal finance resources at the firm-level, measured by cash flow, play a non-trivial role for the number of patent applications, even after controlling for the standard variables of a patent study. The results are based on estimating panel count-data models on a sample of 2,700...

Based on data from of 2,700 Swedish manufacturing firms, observed through the period 1997-2005, this paper shows that internal finance resources, measured by cash-flow, affect the propensity to apply for a patent as well as the number of patent applications. From a business cycle perspective,...

Despite broad agreement on the strategic role of SMEs (Small and Medium Sized Enterprises) in industrial renewal processes, the lack of systematized and comprehensive information on the nature and level of small innovative firms is striking. This bias is partly explained by an empirical shadow...

This paper examines small innovative entrepreneurs by contrasting patenting firms against non-patenting firms. The empirical analysis is based on new and unique data on internal attributes, location and international trade characteristics for over 20 000 manufacturing firms in Sweden with 1-25...

The main purpose in this paper is to study to what extent accessibility to R&D can explain patent production. Therefore a knowledge production function is estimated both on aggregated level and for different industrial sectors. The output of the knowledge production is the number patent...

Schumpeterian growth theory has “operationalized” Schumpeter’s notion of creative destruction by developing models based on this concept. These models shed light on several aspects of the growth process which could not be properly addressed by alternative theories. In this survey, we focus...

In this paper, we study how R&D investment affect financial analyst’s earnings forecasts and how intellectual capital endowments moderate this effect. We argue that high information asymmetry and uncertainty associated with R&D investment increase a financial analysts’ earnings forecast...

We are well familiar with the economic analysis of a patent system in terms of a temporary monopoly on products, benefitting from marginal process inventions, formulated under conditions of certain future demands. This article develops an experimental and dynamic microeconomic model useful for...

The patent system makes organized markets in patents with transparent prices possible. Such prices are here investigated as “signals” for inventors and innovators alike ofv aluable “technology areas”, in an experimental study. They inform decisions of specialized “firms” on...