Technological Innovation and Stock Market Returns in Europe

Thumbnail Image

Files

bachelor_Henttinen_Jens_2023.pdf (1.02 MB)

URL

Journal Title

Journal ISSN

Volume Title

School of Business | Bachelor's thesis
Unless otherwise stated, all rights belong to the author. You may download, display and print this publication for Your own personal use. Commercial use is prohibited.

Authors

Date

2023

Department

Rahoituksen laitos

Major/Subject

Mcode

Degree programme

Rahoitus

Language

en

Pages

17+10

Series

Abstract

This study examines the predictive power of aggregate level patent count data on excess stock market returns in Europe. In contrast with the findings of Hsu (2009), there persists no significant predictive abilities in patent shocks nor patent growth against market returns in Europe or in individual European sample countries. The findings might be explained by patent application data not consistently reflecting technological innovation on the aggregate level, or that there persists predictability, but the effects on market returns takes place at highly unpredictable timelines. The results presented in my study do not provide any evidence towards aggregate patent application count data having a predictive power for market returns in Europe.

Description

Thesis advisor

Lof, Matthijs

Keywords

technological, innovation, patents, prediction, stock, market

Other note

Citation

Permanent link to this item

https://urn.fi/URN:NBN:fi:aalto-202401281861

Collections

[kand] Kauppakorkeakoulu / BIZ (Open Access)