IDEAS home Printed from https://ideas.repec.org/a/spr/scient/v66y2006i2d10.1007_s11192-006-0021-4.html
   My bibliography  Save this article

Patent evolution in relation to public/private R&D investment and corporate profitability: Evidence from the United States

Author

Listed:
  • Arnold Verbeek

    (K.U. Leuven, Steunpunt O&O Statistieken; IDEA Consult)

  • Koenraad Debackere

    (Faculty of Economics and Applied Economics and Steunpunt O&O Statistieken, K. U. Leuven; Research Division INCENTIM, Faculty of Economics and Applied Economics, K. U. Leuven)

Abstract

Summary In this paper we analyze the (historical) co-evolution of technological development and economic progress (by relating public and private R&D investment, patenting, and corporate profitability). We relate to the work ofSchmookler(1966),Griliches(1990),Pakes&Griliches(1980) andPakes(1986) who all have studied the techno-economic interplay by considering patents as in indicator of technological performance. We use United States industry and government data over the period 1953-1998 (45 years). Co-evolution analysis over this period reveals a strong interdependency among the variables. Patent evolution is strongly related to the development of private R&D and corporate profitability; the levels of public and private R&D expenditure in combination with the level of technological output (i.e. patents) have a strong predictive and explanatory power towards corporate profitability (R2 value of 94.9%). Causality tests reveal a joint determination between R&D investment and corporate profitability (L=2; p

Suggested Citation

  • Arnold Verbeek & Koenraad Debackere, 2006. "Patent evolution in relation to public/private R&D investment and corporate profitability: Evidence from the United States," Scientometrics, Springer;Akadémiai Kiadó, vol. 66(2), pages 279-294, February.
    • Handle: RePEc:spr:scient:v:66:y:2006:i:2:d:10.1007_s11192-006-0021-4
    DOI: 10.1007/s11192-006-0021-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11192-006-0021-4
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11192-006-0021-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Copiello, Sergio, 2019. "Peer and neighborhood effects: Citation analysis using a spatial autoregressive model and pseudo-spatial data," Journal of Informetrics, Elsevier, vol. 13(1), pages 238-254.
    2. Konstantakis, Konstantinos N. & Michaelides, Panayotis G., 2017. "Does technology cause business cycles in the USA? A Schumpeter-inspired approach," Structural Change and Economic Dynamics, Elsevier, vol. 43(C), pages 15-26, December.
    3. Scott D. Bass & Lukasz A. Kurgan, 2010. "Discovery of factors influencing patent value based on machine learning in patents in the field of nanotechnology," Scientometrics, Springer;Akadémiai Kiadó, vol. 82(2), pages 217-241, February.
    4. Konstantakis, Konstantinos N. & Michaelides, Panayotis G., 2017. "Technology and Business Cycles: A Schumpeterian Investigation for the USA," MPRA Paper 80636, University Library of Munich, Germany.
    5. Iraj Daizadeh, 2020. "Trademark filings and patent application count time series are structurally near-identical and cointegrated: Implications for studies in innovation," Papers 2012.10400, arXiv.org.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:scient:v:66:y:2006:i:2:d:10.1007_s11192-006-0021-4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.