It is known that innovations in the market value of manufacturing firms and their RhD expenditures are related (Pakes (1985) and Mairesse and Siu (1984)). This could be due to shifts in the demand for the output of a particular firm, to shifts in the technological opportunities available to the...

This paper extends earlier work on the R&D to patents relationship (Pakes-Griliches 1980, and Hausman, Hall, and Griliches, 1984) to a larger but shorter panel of firms. Using both non-linear least squares and Poisson type models to treat the problem of discreteness in the dependent variable the...

This paper extends earlier work on the R&D to patents relationship (Pakes-Griliches 1980, and Hausman, Hall, and Griliches, 1984) to a larger but shorter panel of firms. Using both non-linear least squares and Poisson type models to treat the problem of discreteness in the dependent variable the...