caa a22 4500 445349972 CHVBK 20180317142841.0 cr unu---uuuuu 170323e20111201xx s 000 0 eng 10.1007/s11192-011-0471-1 doi (NATIONALLICENCE)springer-10.1007/s11192-011-0471-1 Re-examine the relationship between patents and Tobin's q [Elektronische Daten] [Yu-Shan Chen, Chun-Yu Shih] Since the relationship between patents and Tobin's q is confusing, this paper utilizes panel threshold regression model to re-examine the relationship between patent counts/sales and Tobin's q. This study finds out patent citations/sales has a single threshold effect on the relationship between patent counts/sales and Tobin's q in the US pharmaceutical industry. The single threshold value of patent citations/sales is 328.81, and it divides the value of patent citations/sales into two regimes: the first regime (patent citations/sale≦328.81) and the second regime (patent citations/sale>328.81). The results indicate that patent counts/sales positively affect Tobin's q in the two regimes. In addition, this study demonstrates that the extent of the positive effect of patent counts/sales on Tobin's q is different. This study verifies that patent citations/sales moderates the relationship between patent counts/sales and Tobin's q. Once patent citations/sales is below the threshold value, the extent of the positive relationship between patent counts/sales and Tobin's q is the most. Therefore, this study finds out that the first regime is optimal. Akadémiai Kiadó, Budapest, Hungary, 2011 Patent analysis nationallicence Patent citation nationallicence Patent count nationallicence Tobin's q nationallicence Panel threshold regression model nationallicence Chen Yu-Shan Department of Business Administration, National Taipei University, 151, University Rd., San Shia, 237, New Taipei City, Taiwan aut Shih Chun-Yu Department of Business Administration, National Yunlin University of Science & Technology, Yunlin, Taiwan aut Scientometrics Springer Netherlands 89/3(2011-12-01), 781-794 0138-9130 89:3<781 2011 89 11192 https://doi.org/10.1007/s11192-011-0471-1 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s11192-011-0471-1 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Chen Yu-Shan Department of Business Administration, National Taipei University, 151, University Rd., San Shia, 237, New Taipei City, Taiwan aut NATIONALLICENCE 700 1- Shih Chun-Yu Department of Business Administration, National Yunlin University of Science & Technology, Yunlin, Taiwan aut NATIONALLICENCE 773 0- Scientometrics Springer Netherlands 89/3(2011-12-01), 781-794 0138-9130 89:3<781 2011 89 11192 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer