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Using Science and Technology Indicators to Manage R&D as a Business

Abstract The purpose of this article is to develop a method to predict future stock market performance of a company, using its technological quality as measured by its patent portfolio. This is accomplished by using a series of science and technology indicators developed from a unique patent database. Several studies have examined the relationship between various research and development (R&D) metrics and different measures of economic performance, yet few have explored this relationship using market-based measures of performance. Our findings show that an investment model based solely on this group of R&D metrics does substantially better than the Standard and Poor's (S&P) 500 Index.