Intellectual Property System And Financial Development-Evidence From China's Provincial Panel Data

In recent years,intellectual property finance,which is derived from the transaction and circulation of enterprise intellectual property rights,combines intellectual property rights with financial market,and the related issues of intellectual property system and financial development caused by this have become a hot topic in the academic circle.However,existing literatures mainly focus on the financing of intellectual property research and development at the enterprise level and the value creation of intellectual property to enterprises,and lack of attention to the emerging intellectual property finance.From the perspective of financial innovation of intellectual property,this paper constructs the variables related to intellectual property that are different from the existing literatures,and analyzes the influence of the development of intellectual property system on the financial development of different provinces.The results show that,on the whole,the development of intellectual property system promotes the development of finance.Further research shows that,for the bank market,the intellectual property system mainly promotes financial development by means of intellectual property financial innovation and intellectual property pledge financing.For the stock market,the intellectual property system promotes financial development through traditional enterprise research and development financing.Intellectual property rights in our country development present situation through the analysis of the results,found that our country enterprise intellectual property creation and financial intellectual property rights are not closely,and legal protection for intellectual property rights is not in place,the intellectual property rights in the process of financial development in the future,our country should focus on strengthening the financial intellectual property rights for the construction of the relevant laws and regulations,strengthen policy guidance and the regulation of the intellectual property rights institutions,perfect the intellectual property rights trading market.