政府知识产权关注、企业创新投入和财务绩效

Government Intellectual Property Rights Concern,Firm Innovation Investment and Financial Performance

本文基于外部性理论,创新地使用各省级知识产权局向国家知识产权局报送的重要新闻稿件作为政府知识产权关注的代理变量,并使用政府增长目标作为工具变量,研究了政府知识产权关注对企业创新投入和财务绩效的影响。结果表明:政府自身的知识产权关注活动能够对企业创新投入产生显著的正向影响。这种正向影响在国有企业和机构投资者持股更多的企业中更加显著。最终,政府知识产权关注能够显著地提升企业财务绩效。综合本文研究结果,笔者认为政府可通过加强知识产权活动的宣传力度,引导企业创新,保护知识产权,建设创新型国家。

Based on the externality theory,this article innovatively uses the important news submitted by the provincial IP Offices to the State Intellectual Property Office as the agent variables of the government’s IPR concern,and explores the influences of the government’s IPR concern on the company’s innovation investment and financial performance.The result shows that the government’s IPR concern can significantly positively affect enterprise innovation input.This positive impact is more pronounced in companies with more ownership of state-owned enterprises and institutional investors.In the end,the government’s IPR concern can significantly improve the financial performance of enterprises.Based on the result of this study,we believe that the government can promote the innovation of enterprises by strengthening the publicity of intellectual property activities.Furthermore,promote the supply-side structural reform and build an innovation-oriented country.