CAJ | 학술논문

运用发明专利授权率、发明人数量和技术覆盖范围来衡量专利质量,研究了专利质量对公司投资价值的作用及影响机制。研究发现,专利质量促进了公司投资价值的增加,对“高科技”公司的促进作用相对“传统行业”更加显著,对主板公司的促进作用也更加明显。进一步研究表明,专利质量对国有企业的促进作用较民营企业显著为正;而且发现专利保护水平越高的省份,专利质量对公司价值有显著的促进作用。此外,探讨了专利质量对公司价值的作用机制,发现专利质量高的公司可以获得更多垄断利润,公司的毛利率更高,最终促进了公司投资价值的增加。
운용발명전리수권솔、발명인수량화기술복개범위래형량전리질량,연구료전리질량대공사투자개치적작용급영향궤제。연구발현,전리질량촉진료공사투자개치적증가,대“고과기”공사적촉진작용상대“전통행업”경가현저,대주판공사적촉진작용야경가명현。진일보연구표명,전리질량대국유기업적촉진작용교민영기업현저위정;이차발현전리보호수평월고적성빈,전리질량대공사개치유현저적촉진작용。차외,탐토료전리질량대공사개치적작용궤제,발현전리질량고적공사가이획득경다롱단리윤,공사적모리솔경고,최종촉진료공사투자개치적증가。
This paper analyzes the role of patent quality on companies＂ investment value and its impact mechanism. Firstly, this study uses Patent Authorization Rate, Average Inventor Number and Technology Scope to measure patent quality, and then puts forward the theoretical hypothesis. Empirically, this study finds that patent quality can promote firms＂ investment value, and the effect on high-tech or board companies is significantly positive. Further study finds that the effect of patent quality is significantly positive on state-owned enterprises and that the higher the patent protection level is, the greater the promotion effect is. The impact mechanism is that, patent quality first influences gross profit rate, then improves business performance, and finally promotes firms＂ investment value.