Research on the Mechanism of Intellectual Property Protection on Total Factor Productivity of Enterprises
Total factor productivity(TFP)is an important embodiment of an enterprise's innovation ability.This paper takes some A-share listed companies from 2008 to 2020 as the research object to investigate how the improvement of intellectual property protection level affects the total factor productivity of A-share listed companies.The marginal contribution of this paper is mainly reflected in the following aspects:(1)It expands the research perspective on the relationship between intellectual property protection and the internal influencing mechanism of total factor productivity of enterprises.Existing literatures on intellectual property protection and total factor productivity of enterprises mainly focus on the analysis of the macro overall effect and transnational investment.On this basis,this paper comprehensively considers the dual influence mechanism of intellectual property protection on the subjective initiative of enterprises'innovation and the forced mechanism of external environment.Introduce internal mechanisms such as rent-seeking and innovation willingness of enterprises and external influence mechanisms such as legal environment,intra-regional innovation and foreign capital entry competition effect to comprehensively describe how the enhancement of intellectual property protection intensity affects the total factor productivity of listed companies.From the perspective of factor flow,the regulating mechanism of factor flow stagnation and efficiency convenience on the influence of intellectual property protection on total factor productivity is further investigated.(2)Use the policy impact of intellectual property court as a quasi-natural experiment to study its micro-effects on total factor productivity.At present,the impact of such policies mainly focuses on the research of the establishment of intellectual property courts.However,before 2020,intellectual property courts will only be set up in Beijing,Shanghai and Guangzhou.Compared with other prefecture-level cities,these three cities have more advantages in the allocation of urban public services,the degree of economic development and the rationality of industrial structure.Therefore,the research on the establishment of intellectual property courts itself may have strong endogeneity.In this paper,selected in 2017 began to set up more than 20 intellectual property court as the event the research object,according to the enterprise's administrative whether in intellectual property court jurisdiction within the scope of set up the experimental group and the control group,and eliminate the sample data of municipality directly under the central government and cities under separate state planning on sample selection may be even more is random and representative.The results show that the establishment of intellectual property court can significantly improve the total factor productivity of enterprises;According to the mechanism study,the establishment of intellectual property court can promote the total factor productivity by enhancing the subjective initiative of enterprises in innovation and exerting the environmental forcing mechanism,that is,by increasing the substantive innovation of enterprises,reducing the rent-seeking behavior of enterprises and improving the market expectation of enterprises,etc.The false phenomenon that innovation input is difficult to promote the improvement of total factor productivity of enterprises can be broken.Meanwhile,enterprises can be forced to improve total factor productivity by giving play to regional innovation activity and the effect of foreign investment entering competition.Heterogeneity analysis shows that non-state-owned enterprises,enterprises in growth stage,small scale and enterprises with high market competitive position are more likely to be stimulated by the improvement of intellectual property protection level.This paper studies the impact mechanism of intellectual property protection on the total factor productivity of enterprises,which can provide some references for the formulation and implementation of relevant policies on intellectual property protection and enterprise innovation.
NETL
NSTL
万方数据
维普
