Intellectual Property Rights Protection, Ownership, and Innovation: Evidence from China

• 成果类型: Article
• 署名作者: Fang, Lily H.; Lerner, Josh; Wu, Chaopeng
• 署名单位: INSEAD Business School; Harvard University; National Bureau of Economic Research; Xiamen University
• 刊物名称: REVIEW OF FINANCIAL STUDIES
• ISSN/ISSBN: 0893-9454
• DOI: 10.1093/rfs/hhx023
• 发表日期: 2017
• 页码: 2446
• 关键词: finance; GROWTH; INVESTMENT; industry; FIRMS; LAW

摘要

Using a difference-in-differences approach, we study how intellectual property right (IPR) protection affects innovation in China in the years around the privatizations of state-owned enterprises (SOEs). Innovation increases after SOE privatizations, and this increase is larger in cities with strong IPR protection. Our results support theoretical arguments that IPR protection strengthens firms' incentives to innovate and that private sector firms are more sensitive to IPR protection than SOEs.