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Relationship Research On Intellectual Property Protection,R&D Investment And Corporate Performance

Posted on:2017-03-17Degree:MasterType:Thesis
Country:ChinaCandidate:X F WangFull Text:PDF
GTID:2359330512974515Subject:Accounting
Abstract/Summary:PDF Full Text Request
Kodak,once the world’s largest manufacturer and supplier of video products and related services,has no idea but to file for bankruptcy protection under the bad operation condition of insolvent crisis due to the inadequate innovation in the transition stage on January 19,2012.Similarly,MOTOROLA,nokia,blackberry,and many other international well-known enterprises were cancelled due to lack of innovation in the market.In recent years,many small and medium-sized manufacturing enterprises located around Yangtze river delta,the pearl river delta,have closed down for only engaging in pure assembly operations and ignoring innovation.Independent innovation and core technological innovation are the keys to keep invincible.However,as the General Secretary Xi Jinping sharply pointed out at the National Science and Technology Innovation Conference that our country is weak in innovation which leads to the relatively low level of overall technological development.Compared to developed countries,domestic enterprises suffer from severe inadequate of initiative for independent R&D and input level.China is ranked number 2 in the amount of R&D investment and ranked number 1 in the field of patent applications in the world.But the announcement about the innovation ability of 50 powers posted in 2005 showed that China is only ranked No.22 of the 50 powers.The enthusiasm of Chinese enterprise in R&D and the resources devoted in R&D are both insufficient.The protection of intellectual property rights is of vital important to improve the efficiency of R&D production.What the current situation of intellectual protection is,whether it can improve the R&D efficiently or not,whether it can guarantee the more efficient transformation from R&D input into financial performance or not and whether it can increase the numbers of patent are the focus of this paper.To be more specific,the theoretical significances of this study are mainly reflected in the following four aspects.One is to enrich the related research literature on the situation of intellectual property protection.The second and third is to enrich the study on the input output and the financial performance of R&D enterprises.The fourth is to enrich the dates of manufacturing enterprise.Moreover the practical significance is to benefit the better implement of the concepts about innovation and development in the thirteenth National Five-YEAR Plan..The protection of intellectual property rights may reduce the externalities of intellectual property protection and the information asymmetry problem so as to encourage companies to do more R&D.Based on the previous analysis,there comes the first hypothesis,namely intellectual property protection enhancement can improve enterprise research and development strength.The enhancement of the input of R&D does not represent the improvement of business performance.Only when the R&D transforms from input to output can it connect with enterprise performance.The improvement in R&D can reduce the behavior of rent-seeking by imitating and copying effectively,which will further contribute to the monopoly profits in corporates’ R&D.Therefore,this article puts forward the second hypothesis,says R&D will improve the enterprise performance significantly in the areas with strong protection of the intellectual property.Patent output can reflect the technological output of company’s R&D to a certain extent.The strengthened protection of intellectual property can have an obvious influence on the reducing behavior of imitating and copying,which will help the companies build a strong confidence on the intellectual property protection.Therefore,here comes the third hypothesis,that is,the R&D investment can promote the output of patents effectively in the areas with strong protection for intellectual property.This paper elaborates in five parts.The first part is the introduction which describes the background,the significance,the adopted methods and the main contents of the research as well as the innovation contribution.The second part,namely the literature review,reviews the related home and abroad literature from three aspects.One is about the connection between protection of intellectual property and R&D investment,one is about the R&D investment and firm performance,and the last one is about corporate R&D and patent output.Moreover,there also exists a literature review in section 2.4.The third part,based on the two theories of external theory and information asymmetry,puts forward three hypothesis which elaborates the connections between intellectual property protection,R&D investment,financial performance and patent output,guiding a clear direction for this study.The fourth part is the empirical analysis section.Firstly it describes the principle of sample selecting and the data sources.Then it seats variables and builds models as well as performs descriptive statistics,correlation analysis,regression analysis and robustness tests.The fifth part summaries the whole text and proposes several suggestions.Limitations and further prospects will be presented in the sixth part.The conclusions of the regression analysis for the previous three hypothesis are as follows.Firstly,the enhancement of intellectual property protection will improve the corporate performance.Secondly,the enhancement of R&D investment in current and last period will have a more significant improvement on corporate performance in areas with strong intellectual property protection than that in areas featuring weak intellectual property protection.Thirdly,the enhancement of R&D investment in current and last period will have a more significant improvement on patent output in areas with strong intellectual property protection than that in areas featuring weak intellectual property protection.In the robustness test,we change the measurements of intellectual property protection to retest the three hypothesis and finally get the same results,verifying the correctness of the hypothesis of this paper that intellectual property protection is of vital important to R&D investment and corporate performance.
Keywords/Search Tags:Intellectual Property Protection, R&D Investment, Corporate Performance, Patent
PDF Full Text Request
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