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Real Options Patents Productivity And Market Value
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Book Synopsis Real Options, Patents, Productivity and Market Value by : Nicholas Bloom
Download or read book Real Options, Patents, Productivity and Market Value written by Nicholas Bloom and published by . This book was released on 2014 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Patents citations are a potentially powerful indicator of technological innovation. Analysing the new IFS-Leverhulme database on over 200 major British firms since 1968 we show that patents have an economically and statistically significant impact on firm-level productivity and market value. We also find that while patenting feeds into market values immediately it appears to have a slower effect on productivity. This is potentially because of the need for costly investment in new equipment, training and marketing required to embody patents into new products and processes. This may generate valuable real options because patents provide exclusive rights to develop new innovations, thereby enabling firms to delay their investments. We find that higher market uncertainty, which increases the value of real options, reduces the impact of new patents on productivity. These real options effects have implications for the role of macro and micro stability in the take up of new technologies and productivity growth.
Book Synopsis Real Options Theory by : Jeffrey J. Reuer
Download or read book Real Options Theory written by Jeffrey J. Reuer and published by Emerald Group Publishing. This book was released on 2007-07-05 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the ways in which real options theory can contribute to strategic management. This volume offers conceptual pieces that trace out pathways for the theory to move forward and presents research on the implications of real options for strategic investment, organization, and firm performance.
Book Synopsis The Real Options Solution by : F. Peter Boer
Download or read book The Real Options Solution written by F. Peter Boer and published by John Wiley & Sons. This book was released on 2002-11-08 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: Harness the power of real options Real options theory is based on the Nobel Prize--winning work on financial options, and has captured the interest of executives, managers, and investors who need to understand the future profitability of an asset. Originally developed to value technology initiatives and companies, the method is now being applied broadly across various businesses and industries. The Real Options Solution offers comprehensive coverage of the real options approach with a five-step framework and examples for applying the author's unique total value model based on real options analysis. This approach will help executives and investors minimize the risk of committing to new ventures and delivers a framework flexible enough to apply to business initiatives in all types of companies.
Book Synopsis The Economic Valuation of Patents by : Federico Munari
Download or read book The Economic Valuation of Patents written by Federico Munari and published by Edward Elgar Publishing. This book was released on 2011-10-01 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book fills an important gap in the literature and will be very useful both to students of intellectual property and practitioners confronted by the problem of valuing their patent portfolios. An excellent overview of an evolving and challenging area, it provides the necessary background to thinking about the problem of valuation and describes all the major methods in use, including the real options approach. Bronywn H. Hall, University of California, Berkeley, US In depth knowledge and scientific approach are used to improve patent valuation techniques. . . a dream book for both researchers and practitioners interested in identifying the value of creative minds. Bruno van Pottelsberghe, Solvay Brussels School of Economics and Management, ULB, Belgium The Economic Valuation of Patents provides an original and essential analysis of patent valuation, presenting the main methodologies to value patents in different contexts. Starting with an analysis of the relevance of patent valuation from a strategic, economic and legal perspective, the book undertakes a thorough review of the existing financial and qualitative valuation methodologies. The contributing authors, IP experts from academia and business, discuss the application of valuation issues in various contexts such as patent portfolio management, licensing agreements, IP litigation, IP-backed finance and accounting. For each topic, an introductory theoretical background is provided and specific application contexts are then investigated. This multidisciplinary book bridges theory and practice in a unique and novel way that will be appreciated by graduate students, scholars and practitioners alike.
Book Synopsis Patent Management and Valuation by : Grid Thoma
Download or read book Patent Management and Valuation written by Grid Thoma and published by Routledge. This book was released on 2016-06-23 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research on patent valuation has become increasingly important in academic and policy circles in the last few decades. In part, this is the outcome of the wide consensus that innovation is a crucial ingredient for growth at various levels. On the other hand, there has also been an overcoming of growth models unilaterally focused on technological-oriented approaches. This book presents novel and original research on patent value determinants, which are intrinsic or extrinsic to the innovator's business model. Grid Thoma has undertaken a long study on the strategic factors affecting patent valuation, bringing extensive quantitative evidences across various geographical and institutional contexts. Beforehand, the valuation of the patent real options is appraised when the innovator can postpone the additional investment required for the patent's successful exploitation. Then, he analyses what other complemental IP strategies are combined with patenting that in turn directly affect the value of patents. Moreover, the book scrutinizes the so-called 'strategic patenting' hypothesis according to which innovators obtain patents for other reasons beyond gaining IP protection. A second order of strategic factors affecting the value of patents resides at the outset of the invention process. These are constituted by knowledge spillovers, which are typically mediated by the local geographical context where the invention process takes place. The analysis shows that the contribution of knowledge spillovers from business and nonbusiness organizations to the value of the patented R&D constitutes a relevant aspect for an innovator's decision making. This thoughtful, cutting-edge research book is vital reading for researchers, academics, and policy decision makers in the area of in market valuation, management of technology, innovation management, and economic geography.
Book Synopsis The Oxford Guide to Financial Modeling by : Thomas S. Y. Ho
Download or read book The Oxford Guide to Financial Modeling written by Thomas S. Y. Ho and published by Oxford University Press. This book was released on 2004-01-15 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essential premise of this book is that theory and practice are equally important in describing financial modeling. In it the authors try to strike a balance in their discussions between theories that provide foundations for financial models and the institutional details that provide the context for applications of the models. The book presents the financial models of stock and bond options, exotic options, investment grade and high-yield bonds, convertible bonds, mortgage-backed securities, liabilities of financial institutions--the business model and the corporate model. It also describes the applications of the models to corporate finance. Furthermore, it relates the models to financial statements, risk management for an enterprise, and asset/liability management with illiquid instruments. The financial models are progressively presented from option pricing in the securities markets to firm valuation in corporate finance, following a format to emphasize the three aspects of a model: the set of assumptions, the model specification, and the model applications. Generally, financial modeling books segment the world of finance as "investments," "financial institutions," "corporate finance," and "securities analysis," and in so doing they rarely emphasize the relationships between the subjects. This unique book successfully ties the thought processes and applications of the financial models together and describes them as one process that provides business solutions. Created as a companion website to the book readers can visit www.thomasho.com to gain deeper understanding of the book's financial models. Interested readers can build and test the models described in the book using Excel, and they can submit their models to the site. Readers can also use the site's forum to discuss the models and can browse server based models to gain insights into the applications of the models. For those using the book in meetings or class settings the site provides Power Point descriptions of the chapters. Students can use available question banks on the chapters for studying.
Book Synopsis Real Options and Intellectual Property by : Philipp N. Baecker
Download or read book Real Options and Intellectual Property written by Philipp N. Baecker and published by Springer Science & Business Media. This book was released on 2007-08-06 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes an integrated approach to patent risk and capital budgeting in pharmaceutical research and development (R and D), developing an option-based view (OBV) of imperfect patent protection, which draws upon contingent-claims analysis, stochastic game theory, as well as novel numerical methods. The text re-initiates a discussion about the contribution of quantitative frameworks to value-based R and D management.
Book Synopsis Patent Valuation by : William J. Murphy
Download or read book Patent Valuation written by William J. Murphy and published by John Wiley & Sons. This book was released on 2012-04-05 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical resource for valuing patents that is accessible tothe complete spectrum of decision makers in the patent process In today's economy, patents tend to be the most important of theintellectual property (IP) assets. It is often the ability tocreate, manage, defend, and extract value from patents that candistinguish competitive success and significant wealth creationfrom competitive failure and economic waste. PatentValuation enhances the utility and value of patents byproviding IP managers, IP creators, attorneys, and governmentofficials with a useable resource that allows them to use actual orimplied valuations when making patent-related decisions. Involves a combination of techniques for describing patentvaluation Includes descriptions of various topics, illustrative cases,step-by-step valuation techniques, user-friendly procedures andchecklists, and examples Serves as a useable resource that allows IP managers to useactual or implied valuations when making patent-relateddecisions One of the most fundamental premises of the book is that thesevaluation skills can be made accessible to each of the variousdecision makers in the patent process. Patent Valuationinvolves narrative descriptions of the various topics, illustrativecases, step-by-step valuation techniques, user-friendly proceduresand checklists, and an abundance of examples to demonstrate themore complex concepts.
Download or read book Real R & D Options written by Dean Paxson and published by Elsevier. This book was released on 2002-12-05 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real R&D options are among the earliest modelled real options, with now ten primary practical uses: general R&D planning, planning R&D in stages, evaluating test information, new product development timing, operations, abandonment, risk sharing, market funding, industry strategy and regulation. This book was partly motivated by requests to identify and develop real option models for R&D in telecommunications, petroleum technology and biotechnology. Nine new models cover information and implementation costs, analytical solutions for mean reverting, or fat tailed revenues, endogenous learning and exogenous and experiential shocks, American sequential options, and innovator advantages. Four new applications include forward start development options, exploration options, innovation with information costs, and innovator's real values with changing market share. R&D directors and researchers will find several uses for these models: - general R&D planning - evaluating test information - new product development timing - risk sharing - industry strategy and regulation - A practical guide to how organizations can use Real Option techniques to effectively value research and development by companies - Provides a rigorous theoretical underpinning of the use of Real Option techniques - Real Options applications are orientated around the economies of North America, Europe and Asia, for an international perspective
Book Synopsis Leveraging Patents Financially by : Dominic de Vries
Download or read book Leveraging Patents Financially written by Dominic de Vries and published by Springer Science & Business Media. This book was released on 2012-02-02 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on expert interviews and a large-scale survey, Dominic de Vries provides one of the first in-depth empirical studies into how patents contribute to companies’ access to external financial sources. He identifies and analyses the actual extent and influence factors of financial patent utilization across company size clusters and patent-intensive industry sectors in Germany.
Book Synopsis Real Options in Practice by : Marion A. Brach
Download or read book Real Options in Practice written by Marion A. Brach and published by John Wiley & Sons. This book was released on 2003-04-07 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores real option theory applied in practice Real options are quickly becoming the valuation and decision-making method of choice for many companies, including oil and gas companies, utilities and natural resource companies, pharmaceutical and biotech companies, Internet companies, and many others. Real Options in Practice allows readers to view the world of real options from the vantage point of a corporate practitioner applying real option valuation techniques on a regular basis. Expert Marion Brach describes the challenges of implementing a real option framework in practice within a corporate setting. Touching on the real options most firms care about, Real Options in Practice identifies the classic types of real options-deferral, abandonment, switching, expansion, and compound-and explores the main concepts critical to understanding real option theory. Through Brach's own three-step real option valuation method readers will learn how the theory of real options is now being applied to drive better, more profitable corporate decision-making. Marion A. Brach, MD, MBA (Hagen, Germany), has undertaken financial valuation of business opportunities and acquisitions using scenario and real option valuation in the biotech industry. A recognized expert on real option theory and practice, Brach received her MBA from the Manchester Business School and frequently speaks at real option seminars.
Book Synopsis Describing Patents as Real Options by : Christopher Anthony Cotropia
Download or read book Describing Patents as Real Options written by Christopher Anthony Cotropia and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a definite economics literature analogizing patents to real options. A patent is like a real option, economists say, because it allows its owner to choose between exclusively commercializing the patented invention sometime during the patent term or foregoing commercialization altogether. The legal literature is a bit behind in using this analogy, with only a handful of scholars exploring the connection. This Article continues the use of real options in patent law by taking a step back. The Article lays a foundation for future discussions in this area by describing in detail how patents are like real options. Specifically, the Article identifies the particular patent doctrines that make up the common components of a real option - the option price, the exercise price, the expiration date, and the value of the underlying asset. From here, the Article discusses some implications of using real options theory in patent law. Real option analysis allows both patent problems and patent solutions to be examined in terms of macro patent elements - elements defined by the operational components of a real option. Real options theory also facilitates viewing patents the same way industry views research and development projects - as real options. Finally, there is promise in the underlying enterprise - using the concept of real options to articulate a new theory of the patent system.
Book Synopsis Project Valuation Using Real Options by : Prasad Kodukula
Download or read book Project Valuation Using Real Options written by Prasad Kodukula and published by J. Ross Publishing. This book was released on 2006-07-15 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business leaders are frequently faced with investment decisions on new and ongoing projects. The challenge lies in deciding what projects to choose, expand, contract, defer, or abandon, and which method of valuation to use is the key tool in the process. This title presents a step-by-step, practical approach to real options valuation to make it easily understandable by practitioners as well as senior management. This systematic approach to project valuation helps you minimize upfront investment risks, exercise flexibility in decision making, and maximize the returns. Whereas the traditional decision tools such as discounted cash flow/net present value (DCF/NPV) analysis assume a “fixed” path ahead, real options analysis offers more flexible strategies. Considered one of the greatest innovations of modern finance, the real options approach is based on Nobel-prize winning work by three MIT economists, Fischer Black, Robert Merton, and Myron Scholes.
Book Synopsis Real Options and Investment Under Uncertainty by : Eduardo S. Schwartz
Download or read book Real Options and Investment Under Uncertainty written by Eduardo S. Schwartz and published by MIT Press. This book was released on 2004 with total page 890 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of investment under uncertainty was stagnant for several decades until developments in real options revitalized the field. The topics covered in this book include the reasons behind the under-investment programme.
Book Synopsis Valuation of Patents for Securitization by : Arundhati Banerjee
Download or read book Valuation of Patents for Securitization written by Arundhati Banerjee and published by Taylor & Francis. This book was released on 2024-03-18 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intellectual property rights and assets have become a major contributor to market capitalization for different companies. This book discusses the processes of valuation of patents and the legal and regulatory concerns around patent securitization. Patents are used as an instrument of securitization to attract funds towards supporting further research and monetisation which opens-up new areas of research. They are utilised through means such as licensing, sale and purchase, financing and others. This book provides an in-depth look into the importance of patents and more importantly their securitization. It analyses the patent securitization applications as well as existing methods towards gauging the suitability of patents. The authors explore simple yet suitable methods for the valuation of patents that can be applied to the existing models to arrive at a pragmatic value. The book also includes studies and tests these systems for their reliability and application in different research areas and companies. This book will be of interest to practitioners involved in financing and monetisation of patents, academics, researchers and students working in patent valuation, financial management, economics international economics.
Book Synopsis On the Valuation of Patents as Real Options by : Rafael Eldor
Download or read book On the Valuation of Patents as Real Options written by Rafael Eldor and published by . This book was released on 1982 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Real Options in Theory and Practice by : Graeme Guthrie
Download or read book Real Options in Theory and Practice written by Graeme Guthrie and published by Oxford University Press. This book was released on 2009-07-16 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decision-makers in business and economics face a staggering array of problems. For example, managers of growing firms have to decide when to expand their business, governments have to decide whether to undertake large infrastructure investments, and managers of oil firms must decide how rapidly to deplete their reserves. While these problems seem quite diverse, they all share many important features. In each case, the decision-maker must choose when to take a particular action that will be potentially impossible to reverse, and the consequences of taking (or not taking) that action are uncertain. Also, the timing and nature of these actions directly affect the cash flows generated by the entities they manage. This book explains how techniques originally developed to price financial derivatives can be used to analyze real-world decisions, and provides the tools necessary to put them into practice. The real options analysis approach to decision-making is built on strong theoretical foundations, and is widely discussed in practitioner literature, but often only at a fairly intuitive level. What practitioners need-and what this book delivers-is a structured approach to systematically applying real options analysis to the wide variety of problems they will meet in business and economics. Real Options in Theory and Practice focuses on building up a general approach to solving real options problems from the ground up. Rather than aiming to build a "black box" to solve a small set of standardized real options problems, it describes the building blocks of any successful real options analysis and shows how they can be assembled in a way that is appropriate to the problem being analyzed. For both practitioners and academics, Real Options in Theory and Practice will serve as an authoritative and invaluable resource for those looking for effective and practical solutions to complex, real-life problems.
