Applying neural network to explore the influences of the patent indicators upon the market value of the American pharmaceutical companies

This study applies the artificial neural network technique to explore the influence of the patent performance upon the market value of the pharmaceutical companies in US. The result shows that Herfindahl-Hirschman Index of patents has the negative influence upon the market value of the pharmaceutical companies in US, and the technological independence has the positive influence upon their market value. In addition, this study also finds out that the patent citations have the inverse u-shaped influence upon the market value of the American pharmaceutical companies.