Abstract

http://ssrn.com/abstract=1024572
 
 

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Comanor and Scherer Revisited: Do Patents Proxy for New Product Introductions?


Stuart J. H. Graham


Georgia Institute of Technology - Scheller College of Business; United States Patent and Trademark Office

Matthew John Higgins


Georgia Institute of Technology - Scheller College of Business; National Bureau of Economic Research (NBER)

September 24, 2007


Abstract:     
In this paper, we examine the propriety of using patents as a proxy for firm innovative performance. We find that in the pharmaceutical industry during 1985-2001 they are not. Replicating the methodology in a study by Comanor and Scherer (1969) upon which many current studies base their use of patents as proxy, we demonstrate simple correlations of 0.1911 between lagged-patent filings and actual new product introductions, and partial correlations of 0.1785 when holding firm size constant. Our results raise serious questions about the usefulness of employing patent measures in contemporary studies that examine the innovative performance of firms.

Number of Pages in PDF File: 14

Keywords: Patenting; Pharmaceutical industry; Research productivity

JEL Classification: O30

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Date posted: October 25, 2007  

Suggested Citation

Graham, Stuart J. H. and Higgins, Matthew John, Comanor and Scherer Revisited: Do Patents Proxy for New Product Introductions? (September 24, 2007). Available at SSRN: http://ssrn.com/abstract=1024572 or http://dx.doi.org/10.2139/ssrn.1024572

Contact Information

Stuart J.H. Graham
Georgia Institute of Technology - Scheller College of Business ( email )
800 W. Peachtree Str. NW
Atlanta, GA 30308
United States
404-385-5107 (Phone)
404-894-6030 (Fax)
United States Patent and Trademark Office ( email )
600 Dulany Street
Alexandria, VA 22314
United States
HOME PAGE: http://www.uspto.gov
Matthew John Higgins (Contact Author)
Georgia Institute of Technology - Scheller College of Business ( email )
800 West Peachtree Street
Atlanta, GA 30308
United States
404-894-4368 (Phone)
404-894-6030 (Fax)
National Bureau of Economic Research (NBER) ( email )
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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