Industry Difference on Patent Drawing’s Capability for Differentiating Stock Rates of Return of Chinese Listed Companies in Non-Manufacturing Industry Sectors -- An Explore into Invention Publication Patents and Utility Model Grant Patents

Abstract The industry difference on patent drawings of invention publications and utility model grants over top nine non-manufacturing industry sectors in China stock market was discussed via analysis of variation (ANOVA). Regarding patent drawing count’s capability for differentiating Chinese listed company’s stock rate of return, the invention publication and the utility model grant were different. The invention publication’s drawing count showed well capability for one industry sector, fair capability for two industry sectors, partial capability for one industry sector, weak capability for two industry sectors, and ineffective capability for three industry sectors; whereas the utility model grant’s drawing count showed partial capability for four industry sectors, weak capability for three industry sectors, and ineffective capability for two industry sectors. The patent drawing count of invention publications showed superior capability to those of utility model grants and invention grants. The higher patent counts of invention publications showed fairly connection with the capability, however, the higher patent counts of utility model grants showed weak connection with the capability. The higher stock rates of return also showed weak connection with the capability for either invention publications or utility model grants. Every non-manufacturing industry sector had its particularity. The industry difference among top nine non-manufacturing industry sectors in China stock market was distinct. JEL classification number: C38, C46, G11. Keywords: Patent, Invention publications, Utility model grants, ANOVA, Stock rate of return, Drawing count, Industry difference.