Potepa, James; Welch, Kyle - 2018
measure innovation with, at times, conflicting results. We benchmark the validity of these innovation proxies using a novel … for Tobin’s Q and provides an appraisal of innovation assets. Additionally, we include trademarks as a new proxy to … capture un-patentable and undisclosed innovation. We find that two innovation proxies, the market response to new patents and …