发明专利申请、内外部监督与研发信息印象管理

Invention Patent Application,Internal and External Monitoring and Impression Management of R&D Information

选取2014—2019年创业板制造业315家上市公司的数据,基于印象管理理论,探讨发明专利申请对研发信息印象管理的影响,以及企业内外部监督在其中的调节作用。综合运用系统GMM模型和PSM模型进行估计后发现:发明专利申请与研发信息印象管理水平存在显著的负向关系。尤其在企业发明专利申请较少时,研发信息印象管理水平会显著上升,具体表现为研发成果与资源等正面信息在研发信息中的比重增加。企业内部和外部监督均能够显著抑制这一关系,表明内外部监督对企业印象管理行为的约束是有效的。基于此,提出进一步规范研发信息披露、支持引导分析师行业发展、完善企业内部治理结构等对策建议。

This paper selects the data of 315 listed companies in the ChiNext manufacturing industry from 2014 to 2019.Based on the theory of impression management,this paper discusses the impact of invention patent applications on R&D information impression management,and the moderating role of internal and external supervision of enterprises.After using the system GMM model and PSM model to estimate,it is found that there is a significant negative relationship between invention patent applications and the level of R&D information impression management.Especially when companies have fewer applications for invention patents,the level of R&D information impression management will increase significantly,which is manifested in increasing the proportion of positive information such as R&D results and resources in R&D information.Both internal and external supervision of the enterprise can sig nificantly inhibit this relationship,which shows that the restraint of internal and external supervision on the corporate impression management behavior is effective.Based on this,this article proposes countermeasures and suggestions to further standardize R&D information disclosure,support and guide the development of the analyst in dustry,and improve the internal governance structure of the enterprise.