| Abstract: |
In the following article, we estimate the value of Patent Applications-PA in
the context of the Environmental, Social and Governance-ESG model at world
level. We use data from World Bank for 193 countries in the period 2011-2021.
We found that PA is positively associated, among others, to “CO_2 Emissions”
and “Mammal Species Threated”, and negatively associated among others to
“Hospital Beds” and “Research and Development Expenditures”. Furthermore, we
found that at aggregate level PA is negatively associated to each macro
component of the ESG model i.e.: Environment, Social and Governance.
Furthermore, we have applied eight different machine-learning algorithms for
the prediction of the future value of PA. We found that the best predictive
algorithm is the Simple Regression Tree in terms of minimization of MAE, RMSE
and MSE and maximization of R-squared. The value of PA is predicted to growth
by an average of 9.82% for the analysed countries. |