Tech Stock Valuation By Mark Hirschey – Instant Download!
Tech Stock Valuation: Linking R&D to Market Value
The contribution of research and development (R&D) to a company’s market value has increased dramatically in recent decades. In the mid-1970s, accountants could capture 90–95% of a firm’s book value on the balance sheet. By 2000, however, the rise of intangible assets meant that only 13–15% of a firm’s value could be accounted for traditionally.
Financial economists and accountants have long studied the connection between a firm’s market value and its R&D spending. Debates continue over the optimal level of investment, investors’ ability to capture returns, and how best to measure value, investment, and returns.
Tech Stock Valuation extends this research by providing direct evidence of the market value impact of inventive and innovative output. The book demonstrates that the stock-price effects of patents are strongest for high-quality patents, with quality measured by scientific merit.
By using scientific measures of patent quality, this book offers:
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Investors and R&D managers a new tool to evaluate R&D program effectiveness
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Financial professionals a method for assessing the value of hard-to-measure intangible assets
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Empirical evidence, much of it pioneered by Dr. Hirschey, linking patent output to market valuation
Tech Stock Valuation equips investors and corporate leaders with actionable insights to better understand and capitalize on the relationship between innovation and market value.
