专利丛林对企业市场价值影响的非均衡研究  

A non-equilibrium study of the impact of patent thicket on corporate market value

作　　者：罗恺 左祥太 Luo Kai;Zuo Xiangtai(School of Accountancy,Wuhan Textile University,Wuhan 430200,Hubei,China)

机构地区：[1]武汉纺织大学会计学院,湖北武汉430200

出　　处：《科研管理》2023年第10期168-180,共13页Science Research Management

基　　金：国家自然科学基金项目:“专利丛林非均衡对我国高新技术企业市场价值影响机理研究:基于社会资本视角”(71902151,2020.01-2022.12);教育部人文社会科学研究青年基金项目:“专利丛林对我国高新技术企业集成创新影响机理研究”(18YJC630113,2018.06-2020.08);湖北省教育厅人文社会科学项目:“以创新政策为导向的企业专利组合对双元创新绩效影响机理研究——基于对湖北省高新技术企业的实证分析”(19Q082,2019.05-2022.12)。

摘　　要：专利丛林导致互补性专利无法有效集中在单个企业,从而增加企业获取这些专利的成本,折损企业市场价值,尤其是影响市值低的企业日益突显。为了厘清专利丛林对企业市场价值影响机理,推动我国企业专利高质量发展。本文基于专利丛林影响企业市场价值的“非均衡”效应和专利资产抑制效应的情境因素,结合我国419家计算机、通信和其他电子设备制造业企业为样本,采用分位数回归估计,得出以下结论:(1)专利丛林对企业市场价值起到减损作用;(2)企业市场价值处于不同的分位点上,专利丛林对企业市场价值负效应存在“非均衡”态势;(3)专利资产会抑制专利丛林对企业市场价值的负效应。研究结果从资源使用的情境因素视角构建了识别专利丛林对企业市场价值不同分位的影响差异和专利资产的调节机制,为我国企业应对专利丛林提供了理论建议。Based on the"non-equilibrium"situation of patent thicket affecting the market value of enterprises and the situational factors of the inhibitory effect of patent assets,this study took 419 computer,communication,and other electronic equipment manufacturing enterprises in China as samples,and used quantile regression estimation to obtain the following conclusions:The number of patent applications of Chinese enterprises has shown a"blowout"growth,which highlights the importance of patents in promoting the market value of enterprises.However,enterprises have ignored the"devil"side of patents-the negative effect of"patent thicket".The"patent thicket"refers to the existence of a large number of patents in the industry,and the patents of a single patentee form a complementary relationship with the cited patents,but different patentees hold these cited patents.If companies want to obtain these complementary patents,they must pay a large number of patent license fees.The original intention of intellectual property protection is to provide"external incentives"for corporate innovation and to make patents a"booster"for corporate competition and profit.However,suppose the patents required by an enterprise are scattered among different patent holders.In that case,the enterprise will instead face increased innovation costs,reduced technology spillover effects,and increased external resource constraints.It can be seen that the"patent thicket"will affect the market value of enterprises.The existing literature on the relationship between patent thicket and enterprise market value mainly focuses on the following aspects:(1)"Fragmented"patent rights are easy to derive patent ripping off,which will reduce the market value of enterprises;and(2)Different mechanisms of patent thickets on the market value of enterprises.They also have the following deficiencies:(1)There is a lack of research on the relationship between the patent thicket and the market value of enterprises in the context of China;(2)The moderating effect of patent asset

关 键 词：专利丛林 企业市场价值 专利资产 非均衡效应 

分 类 号：G306.0[文化科学]