The Impact of Patent Activities on Stock Dynamics in the High-Tech Sector

Vitt, Constantine Alexander; Xiong, Hui

doi:10.1109/icdm.2015.95

Cited by 6 publications

(2 citation statements)

References 23 publications

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“…Lin [2015] found that firms headquartered near a knowledge centre experience higher market-to-book ratios and higher stock volatility. Vitt and Xiong [2016] analysed as to whether the relationship between the patent activities of high-tech companies and the dynamics of their stock price movement. The results indicate the presence of a significant impact of patent activity on stock movement and on its essential statistical characteristics of drift and volatility.…”

Section: Previous Literaturementioning

confidence: 99%

Does Blockchain Patent-Development Influence Bitcoin Risk?

Hou

Oxley

et al. 2020

SSRN Journal

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The paper presents a novel analysis specifically investigating as to whether stocks associated with leading blockchain patent-developments influence the price volatility of Bitcoin across multiple time frequencies. It is important to further develop our understanding of the inter-dynamics between this relatively youthful financial product and pricing sensitivities associated with corporate technological advancement. Several interesting results are presented. First, Bitcoin is identified as a volatility receiver instead of a transmitter across all of the time frequencies considered during periods of patent development. Secondly, Microsoft, Mastercard, Intel and Visa contribute the largest volatility spillovers to the Bitcoin market due to patent development. Finally, for most of the companies considered, the calculated spillover effects towards Bitcoin markets are found to increase from the short-term to the long-term. These results suggest the existence of an avenue through which large corporations can influence cryptocurrency prices through their announcements of future technological intentions. The inherent risks incorporated with blockchain and cryptocurrency patent-development should be studied in detail, with particular warnings presented to those companies with no evidence of prior exposure and market knowledge.

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Section: Previous Literaturementioning

confidence: 99%

Does Blockchain Patent-Development Influence Bitcoin Risk?

Hou

Oxley

et al. 2020

SSRN Journal

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“…Consequently, a company's stock price or its technological trends of the industry can be predicted through the overall performance of the company. Vitt & Xiong (2015) tried to use mathematical models to analyze the relationship between the stock price information of high-tech listed companies of NASDAQ in the __________________________________________________________________________________ DOI: 10.17261/Pressacademia.2019.1021 U.S. and the status of the company's patent activities. The research results proved that there was a positive correlation with two years of deferral between the company's stock price fluctuation and its patent activities.…”

Section: Literaturementioning

confidence: 99%

Does patent contribute to stock price in China

Chen¹,

Wei²,

Che³

2019

Pressacademia

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Purpone -Along with the in-depth implementation of national intellectual property strategies in China, China's intellectual property law has been fully integrated with international norms. The number of patents in China is among the highest in the world and China has been the country with the largest number of patent applications in the world for five consecutive years. In addition, the incentive and protective role of the intellectual property system on economy, science, technology and culture has emerged. Methodology -There are more than 3,000 A-share listed companies in mainland China, as the second largest stock market among global transactions, with the daily trading volume exceeding one trillion RMB. Its ups and downs are catching the eyes of global investors. Patents are the concrete manifestations of scientific and technological innovations. It is questionable if this specific performance can contribute to financial performance and if investment potential stocks can be exploited through patent indicators. In view of this, in this study, an empirical research was conducted on the data of the technology-based enterprises listed on the Shanghai A-share market from 2011 to 2017. Findings -It is found in this study that, compared to stock prices, there is a significant leading period of specific patent indicators for more than one year. After the data back-testing of the stock exchange, the average performance of the investment potential stocks selected based on this research model is better than the market index performance. Conclusion -Though the statistical test and time series algorithm of patent indicators, the leading patent formulas are deduced in this study, which can validly predict the stock price of listed companies and the lead period is up to one year, at least a quarter with predictive accuracy.

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Does blockchain patent-development influence Bitcoin risk?

Hou

Oxley

et al. 2021

Journal of International Financial Markets, Institutions and Mo

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The Impact of Patent Activities on Stock Dynamics in the High-Tech Sector

Cited by 6 publications

References 23 publications

Does Blockchain Patent-Development Influence Bitcoin Risk?

Does Blockchain Patent-Development Influence Bitcoin Risk?

Does patent contribute to stock price in China

Does blockchain patent-development influence Bitcoin risk?

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