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Trademark activity and the market performance of U.S. commercial banks

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  • Carlos González-Pedraz
  • Sergio Mayordomo

Abstract

This empirical paper analyzes the effect of trademark activity on the market value and performance of US commercial banks from two perspectives. First, a longterm perspective considers the effect of such activity on banks’ Tobin's q . Second, with a short-term perspective, the authors analyze the effect of trademark activity on banks’ abnormal returns. An older portfolio of trademarks diminishes the ratio of market value to firm assets, but this ratio can be improved in the long term by abandoning old trade-marks. Portfolios of trademarks with wide diversification do not help increase Tobin's q . Furthermore, according to an event study, the creation of a trademark has a positive effect on cumulative abnormal returns compared with no event, whereas a cancellation event has a negative impact.

Suggested Citation

  • Carlos González-Pedraz & Sergio Mayordomo, 2011. "Trademark activity and the market performance of U.S. commercial banks," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 13(5), pages 931-950, November.
    • Handle: RePEc:taf:jbemgt:v:13:y:2011:i:5:p:931-950
    DOI: 10.3846/16111699.2011.643447
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    References listed on IDEAS

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    1. Bronwyn H. Hall & Grid Thoma & Salvatore Torrisi, 2006. "The market value of patents and R&D: Evidence from European firms," KITeS Working Papers 186, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Nov 2006.
    2. Christine Greenhalgh & Mark Rogers, 2006. "Trade Marks and Performance in UK Firms: Evidence of Schumpeterian Competition through Innovation," Discussion Papers 06-034, Stanford Institute for Economic Policy Research.
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    1. Duygun, Meryem & Sena, Vania & Shaban, Mohamed, 2016. "Trademarking activities and total factor productivity: Some evidence for British commercial banks using a metafrontier approach," Journal of Banking & Finance, Elsevier, vol. 72(S), pages 70-80.
    2. Marco Giarratana & Alessandra Perri, 2014. "Product and Marketing Actions in a Competitive Scenario," Working Papers 30, Venice School of Management - Department of Management, Università Ca' Foscari Venezia.
    3. Stephen Petrie & Mitchell Adams & Ben Mitra‐Kahn & Matthew Johnson & Russell Thomson & Paul Jensen & Alfons Palangkaraya & Elizabeth Webster, 2020. "TM‐Link: An Internationally Linked Trademark Database," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 53(2), pages 254-269, June.
    4. Duygun, Meryem & Sena, Vania & Shaban, Mohamed, 2013. "Schumpeterian competition and efficiency among commercial banks," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 5176-5185.
    5. Duygun, Meryem & Sena, Vania & Shaban, Mohamed, 2014. "Trademarking status and economic efficiency among commercial banks: Some evidence for the UK," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 506-514.

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