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A matching algorithm for integrating PATSTAT patent data with Datastream financial data.

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Název: A matching algorithm for integrating PATSTAT patent data with Datastream financial data.
Autoři: Wang, Lipeng1 (AUTHOR) lipengwang@zju.edu.cn, Verousis, Thanos2 (AUTHOR)
Zdroj: Applied Economics Letters. Jun2025, p1-8. 8p. 5 Illustrations.
Témata: *PATENT databases, *FINANCIAL databases, *ECONOMIC change, *TECHNOLOGICAL innovations, SYNCHRONIZATION
Abstrakt: The integration of patent data into finance and economics research has recently gained momentum, driven by the strong link between firm innovation, firm growth and economic development. However, utilizing patent data in research poses challenges, notably in matching them with financial identifiers. This is in large part, due to measurement errors, systematic biases and a time-consuming procedure. Accordingly, in this technical note, we introduce a multiple-stage algorithm designed to overcome these obstacles by matching patent data from the extensive PATSTAT database with financial information from Datastream, a widely used accounting database. Our matching algorithm successfully matched 1,851,612 patent applications of 11,371 companies from 44 countries over a 21-year period. We offer a standardized set of rules for similar matching exercises and record the ex post validity of our matching exercise. Our matching algorithm serves as the foundation for international research aimed at exploring the correlation between financial markets and a company’s innovation performance. [ABSTRACT FROM AUTHOR]
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Databáze: Business Source Index
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Abstrakt:The integration of patent data into finance and economics research has recently gained momentum, driven by the strong link between firm innovation, firm growth and economic development. However, utilizing patent data in research poses challenges, notably in matching them with financial identifiers. This is in large part, due to measurement errors, systematic biases and a time-consuming procedure. Accordingly, in this technical note, we introduce a multiple-stage algorithm designed to overcome these obstacles by matching patent data from the extensive PATSTAT database with financial information from Datastream, a widely used accounting database. Our matching algorithm successfully matched 1,851,612 patent applications of 11,371 companies from 44 countries over a 21-year period. We offer a standardized set of rules for similar matching exercises and record the ex post validity of our matching exercise. Our matching algorithm serves as the foundation for international research aimed at exploring the correlation between financial markets and a company’s innovation performance. [ABSTRACT FROM AUTHOR]
ISSN:13504851
DOI:10.1080/13504851.2025.2522169