R&D活动、创新专利对企业价值的影响―来自中国上市公司的研究
摘要
On the depiction of the quantities and types of patents of Chinese listed companies, it investigates the influence of R&D activities on firm value and performance. The results show that R&D activities can create value for the enterprises. R&D input can increase firm value and performance. At present time, the patents of Chinese list companies have rather low innovation. Invention patents are less than non-invention patents. Although patents can improve firm value, and the more patents, the greater contribution, the different quality of patents have different contributions to performance. The invention patents with more innovation can significantly increase firm performance while non-invention patents can't effectively create value for enterprises. Under current circumstances, the mechanisms related to innovation are not sound, and the market can't screen the quality of patents.