Tech Stock Valuation: Investor Psychology And Economic Analysis by Mark Hirschey

Tech Stock Valuation: Investor Psychology And Economic Analysis

byMark HirscheyEditorMark Hirschey

Hardcover | June 17, 2003

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Tech Stock Valuationextends the R&D literature by providing detailed direct evidence on the market value implications of inventive and innovative output. Specifically, the text demonstrates that stock-price effects of patent output are most pronounced in the case of high-quality patents, where patent quality is measured by scientific merit.

Scientific measures of patent quality give students a valuable new tool that can be used to measure R&D program effectiveness. At the same time, it gives investors a new tool to help them assess the value of hard-to-measure intangible assets.

The book is an ideal resource for professionals working in finance and accounting; investment professionals and industry analysts who work for companies that engage in research and development; MBA students; economists working in industrial organizations, microeconomics, and contract theory.



  • Provides detailed direct evidence on the market value implications of inventive and innovative output
  • Based on recent research, much of which Dr. Hirschey has pioneered
  • Gives financial professionals a new tool for assessing R&D quality and its relation to market valuation

About The Author

Mark Hirschey is the Anderson Chandler Professors of Business at the University of Kansas.
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Details & Specs

Title:Tech Stock Valuation: Investor Psychology And Economic AnalysisFormat:HardcoverDimensions:271 pages, 9 × 6 × 0.98 inPublished:June 17, 2003Publisher:Academic PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0123497043

ISBN - 13:9780123497048

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Table of Contents

Making Sense of the Market Environment; What Caused the Tech Bubble? Investment Advice on the Internet; A Dissertation on Tulips and AOL; The Crash of 2000-2002; Making Sense of Company Valuation; Stock-Price Effects of R&D Expenditures; Valuation Effects of Patent Quality; Goodwill Write-off Decisions; Shark Repellents and R&D; Corporate Governance and the Legal Environment.

Editorial Reviews

"The impact of the highly variable capital market conditions--such as we saw during the late 1960s, the mid 1980s, and the late 1990s--on the evolution of high-technology industries remains little understood, but is critically important to the future growth of the U.S. economy. [This book] takes an initial look at some of these very important but complex issues." --Josh Lerner, Jacob H. Schiff Professor of Investment Banking, Harvard Business School, Boston, MA, USA