Valuation of innovation : the case of iPhone

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dc.contributor Bank of Finland
dc.contributor.author Korkeamäki, Timo
dc.contributor.author Takalo, Tuomas
dc.date.accessioned 2014-09-22T07:59:12Z
dc.date.available 2014-09-22T07:59:12Z
dc.date.issued 2012
dc.identifier.isbn 978-952-462-811-2
dc.identifier.issn 1456-6184
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/7913
dc.description Ilmestynyt myös European Management Review 2013 ; 4 ; Winter.
dc.description.abstract We study the value of innovation in a case study of one of the most visible innovative products in recent years, Apple s iPhone. The value effects of news announcements, patent publications, and trademarks relating to iPhone are taken into account. Our estimate of the lower bound on the value of iPhone is fairly high, 30 billion U.S. (event-day) dollars or 10% to 13% of the firm s market cap (at the end of 2009). We find that patentable technology explains about 25% of the total value, which derives from market reactions to publication of patent applications rather than grants. We also observe a weak negative reaction among Apple s rivals to news about iPhone. Apple appears to capture most of the value within the iPhone supply chain.
dc.format.extent 40 s.
dc.language.iso eng
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject teknologia
dc.subject johtaminen
dc.subject innovaatiot
dc.subject rahoitusmarkkinat
dc.subject tehokkuus
dc.subject osakkeet
dc.subject SP
dc.subject RP
dc.subject Apple
dc.subject älypuhelimet
dc.subject arvonlisäys
dc.title Valuation of innovation : the case of iPhone
dc.type Sarjajulkaisu
dc.identifier.urn URN:NBN:fi:bof-20140807657
dc.series.name Bank of Finland Research Discussion Papers
dc.series.year 2012
dc.series.number 24/2012
dc.series.sortingnumber 0024
dc.date.publication 17.7.2012

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