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A new measure of innovation: The patent success ratio

Author

Listed:
  • Michael McAleer

    (School of Economics and Commerce, University of Western Australia)

  • Daniel Slottje

    (Department of Economics, SMU)

Abstract

Summary Patents have become increasingly important, especially over the past two decades. As patent office procedures have adapted to remain abreast of changing economic and scientific circumstances, it has also become increasingly important to define and analyse innovation more precisely. This paper introduces a simple new measure of innovation, the patent success ratio (PSR), or the ratio of successful patent applications to total patent applications. It has been argued in the extensive literature on innovation and technology policy that patents can serve as an accurate proxy for innovative activity or innovation. This paper suggests that PSR is a more accurate measure of how innovative activity has changed over time. A sensitivity analysis is conducted to assess the usefulness of the new PSR measure of innovation using annual US data for the period 1915-2001.

Suggested Citation

  • Michael McAleer & Daniel Slottje, 2005. "A new measure of innovation: The patent success ratio," Scientometrics, Springer;Akadémiai Kiadó, vol. 63(3), pages 421-429, June.
    • Handle: RePEc:spr:scient:v:63:y:2005:i:3:d:10.1007_s11192-005-0222-2
    DOI: 10.1007/s11192-005-0222-2
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    Citations

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    Cited by:

    1. Balkrishna Rao, 2010. "How to Measure Innovation," Challenge, Taylor & Francis Journals, vol. 53(1), pages 109-125.
    2. Md. Dulal Hossain & Junghoon Moon & Hyoung Goo Kang & Sung Chul Lee & Young Chan Choe, 2012. "Mapping the dynamics of knowledge base of innovations of R&D in Bangladesh: triple helix perspective," Scientometrics, Springer;Akadémiai Kiadó, vol. 90(1), pages 57-83, January.
    3. Ohsung Kwon, 2020. "A study on how startups approach sustainable development through intellectual property," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(4), pages 613-625, July.
    4. Shankar Ghimire & Nawaraj Sharma Paudel, 2019. "R&D, FDI, and Innovation: Examination of the Patent Applications in the OECD Countries," Journal of Development Innovations, KarmaQuest International, vol. 3(2), pages 1-11, December.

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