知识产权保护提升企业全要素生产率了吗?——基于中国A股上市公司的证据

Has Intellectual Property Protection Improved the Total Factor Productivity of Enterprises?——A Study Based on Chinese A-share Listed Companies

基于2000—2021年中国A股上市公司面板数据构建的双向固定效应模型,实证检验了知识产权保护对企业全要素生产率的影响效应及作用机制。研究结果表明:知识产权保护对企业全要素生产率具有显著的促进作用,且该结论在经历一系列稳健性检验和内生性检验后仍然成立。影响机制分析结果表明,自主创新和外来技术溢出是知识产权保护助推企业全要素生产率增长的重要中介路径。异质性分析结果显示,知识产权保护对不同产业、不同规模、不同所有制企业的全要素生产率的影响效应具有显著的异质性。研究结论揭示了知识产权保护对企业全要素生产率的提升效应与影响路径,为完善知识产权战略、推动企业高质量发展提供决策参考。

Based on the panel data of Chinese A-share listed companies from 2000 to 2021,this paper constructs a two-way fixed effect model to test the impact and mechanism of intellectual property protection on the total factor productivity of enterprises.The results show that intellectual property protection plays a significant role in promoting the total factor productivity of enterprises,and this conclusion is still valid after a series of robustness tests and endogenous tests.The analysis of the impact mechanism shows that independent innovation and foreign technology spillovers are important intermediary pathways for intellectual property protection to boost the growth of the total factor productivity of enterprises.The results of heterogeneity analysis show that the impact of intellectual property protection on the total factor productivity of enterprises varies with industries,scales,and ownership types.The research reveals the improvement effect and impact path of intellectual property protection on the total factor productivity of enterprises,and provides decision-making reference for improving intellectual property strategy and promoting high-quality development of enterprises.