摘要
专利是影响企业外部融资绩效的重要因素,现有研究主要讨论专利数量对外部融资绩效的影响,少有分析专利质量在外部融资过程中的作用。鉴于此,探讨专利质量与外部融资绩效间的关系,并基于鉴证效应理论考察高管团队特征、技术联盟对专利质量与外部融资绩效间关系的调节作用。选取2019—2022年我国科创板451家上市公司数据进行实证检验,结果显示:专利质量对外部融资绩效存在正向作用;高管团队特征(受教育水平、海外经历)与技术联盟正向调节了专利质量与外部融资绩效的关系。
Patent is an important factor affecting the external financing performance of enterprises.However,the existing researches mainly discuss the impact of the number of patents on the external financing performance.And the role of patent quality in external financing lacks attention.Therefore,this study explored the relationship between patent quality and external financing performance.Based on the certification effect theory,the moderating effect of the characteristics of top management team and technology alliance on the relationship between patent quality and external financing performance was investigated.Based on the empirical test on 451 listed companies in science and technology innovation board from 2019 to 2022,the result showed that patent quality had a positive effect on external financing performance.The characteristics of top management team(education level,overseas experience)and technology alliance positively adjust the relationship between patent quality and external financing performance.
作者
王龙
黄梦秋
武伟
张伟
WANG Long;HUANG Mengqiu;WU Wei;ZHANG Wei(School of Economics,Wuhan University of Technology,Wuhan 430070,China;不详)
出处
《武汉理工大学学报（信息与管理工程版）》
CAS
2023年第3期488-494,共7页
Journal of Wuhan University of Technology：Information & Management Engineering
基金
国家自然科学基金青年项目(72102172)
国家知识产权局软科学研究项目(SS21-A-03).
关键词
专利质量
外部融资绩效
鉴证效应
高管团队特征
技术联盟
patent quality
external financing performance
certification effect
TMT characteristics
technology alliance
