This paper provides novel empirical evidence on the market valuation of a firm's intangible assets for U.S. firms during the period 1991–2015, exploring the relationship between Tobin's q, R&D, advertising, utility patents, international patent applications, design patents, trademarks, and value weighted IP measures. The Tobin's q is found to be positively and significantly associated with the proposed composite value index of trademark indicators above and beyond the other measures of intangible assets. The paper articulates some managerial implications on how firms could benefit from investing in trademarking and enlarge market value through the combination of multiple IP strategies.
Composite value index of trademark indicators: A market value analysis using Tobin's Q
Thoma, Grid
Primo
2021-01-01
Abstract
This paper provides novel empirical evidence on the market valuation of a firm's intangible assets for U.S. firms during the period 1991–2015, exploring the relationship between Tobin's q, R&D, advertising, utility patents, international patent applications, design patents, trademarks, and value weighted IP measures. The Tobin's q is found to be positively and significantly associated with the proposed composite value index of trademark indicators above and beyond the other measures of intangible assets. The paper articulates some managerial implications on how firms could benefit from investing in trademarking and enlarge market value through the combination of multiple IP strategies.| File | Dimensione | Formato | |
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