Industry Effects and Appropriability Measures in the Stock Markets Valuation of R&D and Patents
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This paper examines the stock market's valuation of a firm's innovative activity. We estimate the market's relative valuation of firms' tangible and intangible assets, focusing on knowledge capital in the form of accumulated "stocks" of R&D and patents. We tried to improve upon our estimates of the
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美国国家经济研究局创建时间：
1987-12-01
