基于创业板上市动机的专利质量研究

Research on the Quality of Patents Based on IPO Motivation of GEM

[目的/意义]创新性是创业板企业的根本属性之一,专利能够较好地向外界传递企业创新情报信号。研究上市前发行人专利申请行为对提升专利质量和完善创业板专利披露制度具有较大的现实意义。[方法/过程]使用合享价值度作为专利质量的代理变量,运用OLS回归方法,以我国创业板2009-2018年间上市公司专利数据为样本,对创业板上市前的专利质量进行分组实证检验。[结果/结论]研究表明,创业板企业上市前专利质量明显下降,在没有产业政策支持、市场化程度较低以及同年上市公司数量较少情况下,专利质量降低幅度更为显著。

[Purpose/Significance]Innovation is one of the fundamental attributes of GEM enterprises,and patents can well transmit the information signal of enterprise innovation to the outside.It is of great practical significance to study the behavior of patent application of issuers before IPO to improve the quality of patent and patent disclosure system of GEM.[Method/Process]Using the incopat patent value as the proxy variable of patent quality,and using the OLS regression,taking the patent data of IPO companies in GEM from 2009 to 2018 as the sample,this study makes empirical testing of the patent quality before IPO on GEM.[Result/Conclusion]The research shows that the patent quality of GEM enterprises decreases obviously before IPO,and the patent quality decreases more obviously when there is no industry policy support,the lower degree of marketization,and the fewer IPO companies in the same year,the decline of patent quality is more significant.