Innovation's Econometrics : PATENT

Plateau du Kirchberg Luxemburg
November 28 & 29 , 1996
Abstracts

Innovation - Competition - Patent

Company Performance and the Valuation of Intellectual Property: Synopsis of a Proposed Paper for the Econometrics of Innovation Conference.

Derek Bosworth, Christine Greenhalgh, Paul Stoneman and Otto Toivanen
SCHOOL OF MANAGEMENT
UMIST
Po Box 88
M60 1QD Manchester (UK)


This paper considers the role played by intangible assets and, in particular, intellectual property (IP) in the dynamic performance of the firm. It outlines an entirely new database for UK companies, which draws upon a range of IP data, including patents. The paper presents a number of fairly preliminary findings based upon a variant of the Tobin q approach. It provides a discussion of the theoretical underpinnings of the Tobin q model, with a view to establishing a more rigorous empirical specification. Indeed, its principal aim is to outline a model of dynamic firm performance which begins to encapsulate both the main elements of dynamic competition, as well as the possibility of externalities and spillover effects. Finally, the paper outlines a number of avenues of research currently being explored which should lead to a more complete understanding of the dynamics of the competitive process.

 

DIRECT AND INDIRECT EFFECTS OF R&D ACTIVITY ON THE PROFITABILITY OF FIRMS 

Alain St-Pierre* and Petr Hanel**

Abstract

An empirical study of a cross-section sample of 302 firms from the COMPUSTAT II database. It explores the relationship between a firm's profitability and other variables, notably its own R&D capital and information and productivity spillovers of R&D executed by other firms. The pool of quasi-public knowledge (information spillovers) is inspired by Jaffe's (1985) concept of proximity in a technological space and takes into consideration also the degree of appropriability. Productivity spillovers are based on Scherer's (1982) and Seguin-Dulude's (1982) inter-industry technology flows. Both spillover measures are constructed as a combination of R&D and patent information.

The results do not allow to reject the hypothesis that R&D has a direct impact on the bottom line, at least for firms which benefit from favourable appropriability conditions. However, firms operating in a neighbourhood of the technological space occupied with competitors have difficulties to generate profits, even though they potentially benefit from the availability of a large amount of quasi-public knowledge. While it was impossible to separate the competitive effect from the effect of information spillovers, the results of the study confirm that profitability of a firm in a downstream industry is enhanced by the R&D content of inputs purchased from other industries, especially high-technology inputs.

 

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* Canadian Intellectual Property Office, Hull, Québec, K1A 0C9, Canada

** Université de Sherbrooke, Sherbrooke, Québec, J1K 2R1, Canada

 

Le rôle des brevets dans la création d'entreprise

MOUSSAID Boujamaa,
PARLEMENT EUROPEEN
Bât Schuman, Bureau 346
L-2929 LUXEMBOURG

Une politique commune de créativité et d'innovation doit être axée sur le paysage socio-économique, les besoins des P.M.E. en matière de transfert de technologies.

Les politiques nationales doivent apporter des remèdes immédiats contre la moitié du chômage, et la déprime économique. Les programmes communautaires doivent stimuler l'innovation et la création des activités nouvelles. Le passage du prototype au marketing direct est le défi de toute action ambitieuse oeuvrant dans la relance économique.

Le grand défi de l'Union Européenne pour la mise en place et en forme de la société de l'information. Cette nouvelle industrie du futur sera conditionnée par la grande consommation de brevets et autres modèles. La réussite nécessite une consistance de la valeur ajoutée liée aux technologies nouvelles de l'information et de la communication tel que le multimédia, Internet, EDI, GED, télé-enseignement...

Plus que jamais, les brevets jouent un rôle prépondérant dans la création de nouvelles activités et permettent le développement et croissance, pérennité des P.M.E.

Dans le dernier chapitre de cet exposé, un cas concret sera traité.

 

Plan de l'exposé

1. Introduction

2. Les brevets sources d'information
2.1 Documentation
2.2 Avancement technologique
2.3 Veille technologique
2.4 Stratégie de management

3. Les brevets vecteurs de création de nouvelles activités
3.1 Nécessité de création de nouvelles activités
3.2 Stratégie européenne de création d'emploi
3.3 Innovation, R&D
3.4 Financement privé
3.5 Financement public

4. La politique économique dans l'Union Européenne

4.1 France
4.2 Italie
4.3 Grande Bretagne

5. Cas des NTIC

6. Conclusion

 

Liaison recherche-développement et brevets : une revue de la littérature

Elina DEVOUE
Maître de Conférences de Sciences Economiques à l'Université des Antilles et de la Guyane

L'Objet de la communication proposée est de présenter les formes de la liaison recherche-développement et brevets dans les différents champs de la Science Economique : Macroéconomie, Microéconomie, Théories de la croissance endogène, Economie internationale, Economie de la recherche-développement, Economie des brevets, Economie industrielle, Economie de l'innovation, Théorie des jeux ...

HONKATUKIA :
MONEY, INNOVATION AND GROWTH

The study considers monetary growth in endogeneously growing economies. Contrary to previous literature, we model endogeneous growth in the context of technological change due to innovation.

In the model, inflation acts as a tax on nominal income, reducing investment in innovation. Consequently, inflation lowers productivity growth and thereby the sustainable rate of growth of output. This result has new implications about the effects of inflation on the marginal productivity of capital. We find that the net effect of inflation is to reduce the steady-state marginal productivity of capital for plausible parameter values, reversing the well-known standard effect. This effect stems from the negative effect of inflation on productivity growth that has hitherto been overlooked.