Trends and Volatilities in Heterogeneous Patent Quality in Taiwan

This study analyzes patent trends and volatilities for three heterogeneous quality patents in the Taiwan patent system from January 1973 to June 2006. The estimated models are symmetric GARCH (1,1) and asymmetric EGARCH (1,1), providing full sample, rolling sample, and out-of-sample evidence. Three...

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Autores principales:	Lu,Wen-Cheng, Chen,Jong-Rong, Tung,I-Hsuan
Lenguaje:	English
Publicado:	Universidad Alberto Hurtado. Facultad de Economía y Negocios 2009
Materias:	patent trends quality patents Taiwan
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-27242009000200006
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spelling	oai:scielo:S0718-272420090002000062009-09-23Trends and Volatilities in Heterogeneous Patent Quality in TaiwanLu,Wen-ChengChen,Jong-RongTung,I-Hsuan patent trends quality patents Taiwan This study analyzes patent trends and volatilities for three heterogeneous quality patents in the Taiwan patent system from January 1973 to June 2006. The estimated models are symmetric GARCH (1,1) and asymmetric EGARCH (1,1), providing full sample, rolling sample, and out-of-sample evidence. Three different patent types exhibit increasing trends, using monthly time series data from our samples. New design patents also show time-varying volatility but other types of patents fail to reject the ARCH LM test. Findings show the asymmetric EGARCH (1,1) model suitable for new design patent type through out of sample forecasts. management.info:eu-repo/semantics/openAccessUniversidad Alberto Hurtado. Facultad de Economía y NegociosJournal of technology management & innovation v.4 n.2 20092009-07-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-27242009000200006en10.4067/S0718-27242009000200006
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	patent trends quality patents Taiwan
spellingShingle	patent trends quality patents Taiwan Lu,Wen-Cheng Chen,Jong-Rong Tung,I-Hsuan Trends and Volatilities in Heterogeneous Patent Quality in Taiwan
description	This study analyzes patent trends and volatilities for three heterogeneous quality patents in the Taiwan patent system from January 1973 to June 2006. The estimated models are symmetric GARCH (1,1) and asymmetric EGARCH (1,1), providing full sample, rolling sample, and out-of-sample evidence. Three different patent types exhibit increasing trends, using monthly time series data from our samples. New design patents also show time-varying volatility but other types of patents fail to reject the ARCH LM test. Findings show the asymmetric EGARCH (1,1) model suitable for new design patent type through out of sample forecasts. management.
author	Lu,Wen-Cheng Chen,Jong-Rong Tung,I-Hsuan
author_facet	Lu,Wen-Cheng Chen,Jong-Rong Tung,I-Hsuan
author_sort	Lu,Wen-Cheng
title	Trends and Volatilities in Heterogeneous Patent Quality in Taiwan
title_short	Trends and Volatilities in Heterogeneous Patent Quality in Taiwan
title_full	Trends and Volatilities in Heterogeneous Patent Quality in Taiwan
title_fullStr	Trends and Volatilities in Heterogeneous Patent Quality in Taiwan
title_full_unstemmed	Trends and Volatilities in Heterogeneous Patent Quality in Taiwan
title_sort	trends and volatilities in heterogeneous patent quality in taiwan
publisher	Universidad Alberto Hurtado. Facultad de Economía y Negocios
publishDate	2009
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-27242009000200006
work_keys_str_mv	AT luwencheng trendsandvolatilitiesinheterogeneouspatentqualityintaiwan AT chenjongrong trendsandvolatilitiesinheterogeneouspatentqualityintaiwan AT tungihsuan trendsandvolatilitiesinheterogeneouspatentqualityintaiwan
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Trends and Volatilities in Heterogeneous Patent Quality in Taiwan

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