Matching patents to compustat firms, 1980–2015: Dynamic reassignment, name changes, and ownership structures

Ashish Arora; Sharon Belenzon; Lia Sheer

doi:10.1016/j.respol.2021.104217

Matching patents to compustat firms, 1980–2015: Dynamic reassignment, name changes, and ownership structures

Ashish Arora, Sharon Belenzon, Lia Sheer

Research output: Contribution to journal › Article › peer-review

Abstract

This paper describes the methodology used to construct a new sample of patents matched to Compustat firms for the period 1980–2015. We compare our data to existing NBER data sets and underscore several methodological improvements, including dynamic matching, company name changes, and ownership structures. We examine how our improved match changes results obtained from the ’01 and ’06 NBER patent files using comparable samples. Overall, we find that improved patent assignment leads to slightly higher estimates of patent value in market value regressions, as well as to higher estimates of the R&D elasticity in patenting regressions.

Original language	English
Article number	104217
Journal	Research Policy
Volume	50
Issue number	5
DOIs	https://doi.org/10.1016/j.respol.2021.104217
State	Published - Jun 2021
Externally published	Yes

Keywords

Innovation
Market value
Measurement error
NBER patent data
R&D

All Science Journal Classification (ASJC) codes

Strategy and Management
Management Science and Operations Research
Management of Technology and Innovation

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10.1016/j.respol.2021.104217

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title = "Matching patents to compustat firms, 1980–2015: Dynamic reassignment, name changes, and ownership structures",

abstract = "This paper describes the methodology used to construct a new sample of patents matched to Compustat firms for the period 1980–2015. We compare our data to existing NBER data sets and underscore several methodological improvements, including dynamic matching, company name changes, and ownership structures. We examine how our improved match changes results obtained from the {\textquoteright}01 and {\textquoteright}06 NBER patent files using comparable samples. Overall, we find that improved patent assignment leads to slightly higher estimates of patent value in market value regressions, as well as to higher estimates of the R\&D elasticity in patenting regressions.",

keywords = "Innovation, Market value, Measurement error, NBER patent data, R\&D",

author = "Ashish Arora and Sharon Belenzon and Lia Sheer",

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year = "2021",

month = jun,

doi = "10.1016/j.respol.2021.104217",

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T2 - Dynamic reassignment, name changes, and ownership structures

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AU - Belenzon, Sharon

AU - Sheer, Lia

PY - 2021/6

Y1 - 2021/6

N2 - This paper describes the methodology used to construct a new sample of patents matched to Compustat firms for the period 1980–2015. We compare our data to existing NBER data sets and underscore several methodological improvements, including dynamic matching, company name changes, and ownership structures. We examine how our improved match changes results obtained from the ’01 and ’06 NBER patent files using comparable samples. Overall, we find that improved patent assignment leads to slightly higher estimates of patent value in market value regressions, as well as to higher estimates of the R&D elasticity in patenting regressions.

AB - This paper describes the methodology used to construct a new sample of patents matched to Compustat firms for the period 1980–2015. We compare our data to existing NBER data sets and underscore several methodological improvements, including dynamic matching, company name changes, and ownership structures. We examine how our improved match changes results obtained from the ’01 and ’06 NBER patent files using comparable samples. Overall, we find that improved patent assignment leads to slightly higher estimates of patent value in market value regressions, as well as to higher estimates of the R&D elasticity in patenting regressions.

KW - Innovation

KW - Market value

KW - Measurement error

KW - NBER patent data

KW - R&D

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DO - 10.1016/j.respol.2021.104217

M3 - مقالة

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VL - 50

JO - Research Policy

JF - Research Policy

IS - 5

M1 - 104217

ER -

Matching patents to compustat firms, 1980–2015: Dynamic reassignment, name changes, and ownership structures

Abstract

Keywords

All Science Journal Classification (ASJC) codes

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