| In the age of knowledge-based economy, patent asset's contribution to the value is increasingly prominent, and it has become an important weapon for enterprise competition and strategic resource. Enterprise is the core of the innovation and patenting activities, it is meaningful to study the value attributes of patent assets and their developing status in China's enterprises, and then explore the empirical evidences on patent's value creation for enterprises, which will promote the building of China's innovation-oriented country as well as enhance enterprises' capability of independent innovation and patent output level.Firstly, the paper analyzed the current background and research situation, and expounded the theoretical basis of patent assets' effect on company's performance. Then, selected 109 companies listed in Shanghai and Shenzhen exchanges as research samples, investigated the status quo of patent asset from the total number of patent application, structure and the disclosure of the value respectively, and the problems and causes were discussed. On this basis, an empirical study on value relevance between patent assets and the performance of listed companies was done, from the book value angle and application amount angle respectively based on the Electrical Machinery and Equipment Manufacturing Industry between 2003 and 2006. Studies show that it is more objective and in line with reality to study this issue from the perspective of patent applications. Patent application not only has a positive relation with the current year's gross profit, but also has the lag effect of 1-2 years on gross profit. Besides, high-quality patent assets play a more obvious and lasting value creation role than simple patent assets. Empirical results provide new ideas to measure patent's contribution to performance. Finally, the working system of intellectual property in enterprise was constructed, and some suggestions for improving value creation ability of patent assets were listed. |
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