Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2021.1970607
Innovation policy and firm patent value: evidence from China
Aiting Xu
Caijuan Cheng
Keyang Qiu
Xiaoxu Wang
Yuhan Zhu
Sažetak
This study aims to contribute to the empirical literature that evaluates the impact of the Science & Technology (S&T) Outline, a
Chinese innovation policy implemented in 2006, measured by the
scale of patent value. We first create a comprehensive patent
valuation model (CPVM), derived from the extended patent
renewal model and a variety of feature indices, to measure a
firm’s patent value. From a database with over 700,000 Chinese
patents from 1985 to 2013, we find that the patent value
increases after the release of the S&T Outline, and the scale of
patent value after 2006 is about 26.52 times more than that
before 2006. Further, we use a quasi-difference in differences
(DID) model to estimate the growth effect caused by the innovation policy. The results indicate that the S&T Outline had a significant effect on the promotion of patent value, in industries
with high patent intensity. Considering the lag effect of the S&T
Outline, we construct innovation correlation networks to visualise
and compare its promotion effect. We find that regional networks
have a gathering tendency after policy implementation, while
industrial networks have a decentralising tendency
Ključne riječi
Innovation policy; patent value; comprehensive patent valuation model; quasi-difference in differences model; innovation correlation network
Hrčak ID:
302466
URI
Datum izdavanja:
31.3.2023.
Posjeta: 260 *