Alvaro Escribano and Szabolcs Blazsek
Universidad Carlos III de Madrid, Spain
Universidad Francisco Marroqu├?┬şn, Guatemala
Scientific Tracks Abstracts: Med Chem (Los Angeles)
In this article, dynamic interactions among stock return, Research and Development (R&D) investment, patent applications and patent propensity of firms are studied. Patent innovation leader and follower firms are identified with respect to their qualityadjusted knowledge stock. Significant and positive dynamic spillover effects are obtained in a panel vector autoregressive model. We find positive dynamic spillover effects from patent innovation leader to followers. We show that an increasing degree of competition enhances innovation and patent applications, which helps firms appropriating part of the benefits of their R&D investments.
Medicinal Chemistry received 5231 citations as per Google Scholar report