(The) effect of frequent patent disclosures on firm value : evidence from the KOSDAQ stock market = 빈번한 특허 공시가 기업 가치에 미치는 영향 : 코스닥 주식 시장을 중심으로 evidence from the KOSDAQ stock market

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This study analyzed the effect of patent disclosure in relation to the frequency of such disclosures. According to KOSDAQ(Korean Securities Dealers Automated Quotations) standards, we divided companies into four divisions: venture, superior, mid-sized, and technology-growth divisions. Each division was then divided into high and low disclosure groups; then each of the eight groups were analyzed. As a result, the venture and medium-sized divisions with a high frequency of patent disclosure confirmed the existence of a negative response by the market to patent disclosure. The interpretation of this is that in these cases the market responds to an abuse of patent disclosure. In addition, the higher frequency technology-growth group showed a higher positive disclosure effect than the other groups. It is found that the enterprise value of technology-growth firms is influenced by the frequency of patent disclosure, and the smaller the investment in development costs, the greater the effect of patent disclosure.
Advisors
Zo, Hangjungresearcher조항정researcher
Description
한국과학기술원 :기술경영학부,
Publisher
한국과학기술원
Issue Date
2018
Identifier
325007
Language
eng
Description

학위논문(석사) - 한국과학기술원 : 기술경영학부, 2018.8,[iii, 29 p. :]

Keywords

특허 공시▼a공시 남용▼a코스닥 소속부▼a공시 빈도; Patent disclosure▼aAbuse of Patent Disclosure▼aKOSDAQ division▼aFrequency of disclosure

URI
http://hdl.handle.net/10203/265974
Link
http://library.kaist.ac.kr/search/detail/view.do?bibCtrlNo=828463&flag=dissertation
Appears in Collection
MG-Theses_Master(석사논문)
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