Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2080738
Can intellectual property protection promote trade credit financing of high-tech enterprises: evidence from the Chinese ‘three-in-one trial’ reform
Yafei Li
Yameng Li
Xintong Wu
Zhou Zhou
Sažetak
Whether the intellectual property protection (IPP) system can
improve the financing environment for enterprise innovation is a
poorly studied research issue. Taking the Chinese ‘three-in-one
trial’ reform of intellectual property rights (IPRs) as a quasi-natural
experiment; we investigate the impact of strengthening IPP on
trade credit financing of high-tech enterprises. The results show
that strengthening IPP can promote their trade credit by about
2%, and the technology market effect, innovation effect and information
effect are the underlying mechanisms. Further tests indicate
that the promotion effects of IPP are more obvious on hightech
enterprises with lower government support, lower proportion
of fixed assets and healthier government–business relationship.
Different from the previous literature, which focuses on the
relationship between IPP and innovation activities or benefits, this
article expands the literature by investigating its impact on innovation
financing and fills the research gap of the impact of IPP on
capital market information searching.
Ključne riječi
Intellectual property protection; three-in-one trial; trade credit; high-tech enterprises
Hrčak ID:
303754
URI
Datum izdavanja:
31.3.2023.
Posjeta: 187 *