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Patents and R and D at the Firm Level : a First Look

Author: Zvi Griliches; Ariel Pakes; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 1980.
Series: Working paper series (National Bureau of Economic Research), no. w0561.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
This is a first report from a larger study of inventive activity of U.S. firms and some of its consequences. It reports on the relationship between patents applied for and R & D expenditures based on data for 121 large corporations covering the 1968-1975 period. The main conclusion is that there is a statistically significant relationship between a firm's R & D expenditures and the number of patents it applied for  Read more...
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Additional Physical Format: Print version:
Pakes, Ariel.
Patents and R & D at the firm level.
Cambridge, MA : National Bureau of Economic Research, 1980
(OCoLC)10756760
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Zvi Griliches; Ariel Pakes; National Bureau of Economic Research.
OCLC Number: 756574075
Description: 1 online resource.
Series Title: Working paper series (National Bureau of Economic Research), no. w0561.
Responsibility: Ariel Pakes, Zvi Griliches.

Abstract:

This is a first report from a larger study of inventive activity of U.S. firms and some of its consequences. It reports on the relationship between patents applied for and R & D expenditures based on data for 121 large corporations covering the 1968-1975 period. The main conclusion is that there is a statistically significant relationship between a firm's R & D expenditures and the number of patents it applied for and receives. This relationship is very strong in the cross-sectional dimension (squared partial correlations of .8 or higher). It is weaker in the within-firm time-series dimension (partial r[squared]'s of .2 to .3). Attempts to fit an unconstrained distributed lag relationship yields only significant coefficients for the first and last terms in the lag structure, indicating both a quick response of patenting to changes in R & D and a small but persistent effect of past R & D, the truncation of this long lag being reflected in a significant coefficient for R & D lagged five years. In spite of these difficulties, patent counts do measure something systematic and hence are worthy of further study.

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