Financial Development,Intellectual Property Protection,and Enterprise Innovation:In the View of Manufacturing Intellectual Property Development Protection
In the process of innovation-driven high-quality economic development,enterprises are the micro foundation,and finance is an important force to promote enterprise innovation.This paper studies the relationship between financial development and corporate innovation from the perspective of intellectual property protection,and selects the data of China's manufacturing A-share listed companies from 2013 to 2019 for empirical research.The results show that:(1)Financial development has a steady promotion effect on corporate innovation.(2)Strengthening intellectual property protection can enhance the promotion effect of finance on corporate innovation,which mainly affects the quality of corporate innovation.Heterogeneity analysis shows that the positive moderating effect of intellectual property protection between financial development and firm innovation only exists in private firms and state-owned firms.The research conclusions provide useful thinking for financial development and intellectual property protection to promote the technological innovation of manufacturing enterprises.
financial developmentintellectual property protectionenterprise innovationmanufacturing industry
NETL
NSTL
万方数据
