Can intellectual property protection promote trade credit financing of high-tech enterprises: evidence from the Chinese ‘three-in-one trial’ reform

Yafei Li, Yameng Li, Xintong Wu and Zhou Zhou

Economic Research-Ekonomska Istraživanja, 2023, vol. 36, issue 1, 786-806

Abstract: Whether the intellectual property protection (IPP) system can improve the financing environment for enterprise innovation is a poorly studied research issue. Taking the Chinese ‘three-in-one trial’ reform of intellectual property rights (IPRs) as a quasi-natural experiment; we investigate the impact of strengthening IPP on trade credit financing of high-tech enterprises. The results show that strengthening IPP can promote their trade credit by about 2%, and the technology market effect, innovation effect and information effect are the underlying mechanisms. Further tests indicate that the promotion effects of IPP are more obvious on high-tech enterprises with lower government support, lower proportion of fixed assets and healthier government–business relationship. Different from the previous literature, which focuses on the relationship between IPP and innovation activities or benefits, this article expands the literature by investigating its impact on innovation financing and fills the research gap of the impact of IPP on capital market information searching.

Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/1331677X.2022.2080738 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:reroxx:v:36:y:2023:i:1:p:786-806

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rero20

DOI: 10.1080/1331677X.2022.2080738

Access Statistics for this article

Economic Research-Ekonomska Istraživanja is currently edited by Marinko Skare

More articles in Economic Research-Ekonomska Istraživanja from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().