Journal of Korea Society of Digital Industry and Information Management (디지털산업정보학회논문지)

Korea Society of Digital Industry and Information Management (디지털산업정보학회)
권호 표지

The lag analysis on the impact of patents on profitability of firms in software industry at segment level

특허가 기업의 수익성에 영향을 미치는 시차에 대한 미국 소프트웨어 세분시장 수준 분석

  • 이준혜 (고려대학교 산업경영공학과) ;
  • 정원교 ((주)오제이그라운드 CTO) ;
  • 박상성 (고려대학교 BK21 Networked Enterprise팀) ;
  • 장동식 (고려대학교 산업경영공학과)
  • Published : 2012.06.30
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Abstract

There have been studies to evaluate valuation of firms by using patents in various ways. Also, the theory that value of patents helps enterprise's growth is valid in economics. However, when evaluating the value of the company, through the patent evaluation has not been used. Because of previous studies researched relation between patents and firms only at certain points. To solve this problem, this study intends to analyze lag between patent and profitability of the firms. In this study, we classified top 100 software firms in the United States through PBR, PER and value of intangible assets by using cluster analysis. And we applied Almon's distributed lag model to each cluster to find out lag between patent and profitability of the firms. As a result, in the cluster of more valuable companies, patents have an effect on profitability of the firms at regular lags. This study indicates that the patents are an important indicator to assess companies.

Keywords

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