Invention Patent’s Capability for Differentiating Stock Return Rates - Patent Informatics on Manufacturing Industries

Abstract More than 25 thousand Chinese listed companies in top ten manufacturing industry sectors from 2017 to 2021 were selected to explore the industry differences via the tool of analysis of variation (ANOVA) on China invention grant patents including the patent quantity, the varying trend of patent counts, and the capability for differentiating the stock return rate. The patent count of invention grants well showed the capability of differentiating the stock return rate for one industry sector, preferably showed the capability for two industry sectors, fairly showed the capability for three industry sectors, and partially showed the capability for four industry sectors. The manufacturing industry sectors with significantly increased invention grant’s patent count means since 2017 showed higher relevance to the capability. The manufacturing industry sectors of higher patent count means also showed higher relevance to the capability. The manufacturing industry sectors of higher/lower stock return rate means did not show relevance to the capability. However, every manufacturing industry sector had its particularity. The industry difference on the invention grant patents among ten manufacturing industry sectors in China stock market was distinct. JEL classification numbers: C38, C46, G11, G12. Keywords: Invention grant patent, ANOVA, Stock return rate, Manufacturing industry.