知识产权治理能够提升企业绿色创新质量吗？

——来自国家知识产权示范企业政策的经验证据

刘 妍　耿云江

（东北财经大学）

内容提要：本文以2013—2022年中国沪深A股上市公司为研究样本，从面向微观企业开展的国家知识产权示范企业政策出发，考察知识产权治理如何提升企业的绿色创新质量。研究结果显示，知识产权治理能够提升企业的绿色创新质量，该结论在经过工具变量回归、倾向得分匹配、熵平衡匹配、替换被解释变量、更改回归模型、排除新环境保护法的影响等一系列检验后仍然成立。机制检验结果显示，知识产权治理通过缓解企业的融资约束、升级人力资本结构和实现数字化转型三条路径提升企业绿色创新质量。交互效应分析结果显示，高管团队环境关注度和公众环境关注度能够正向促进知识产权治理对企业绿色创新质量的提升作用。异质性分析结果显示，在气候风险更高、所处地区环境规制力度更强的企业中，知识产权治理更能提升企业绿色创新质量。拓展性研究结果显示，知识产权治理在未来的四年中能够持续提升企业绿色创新质量。同时，知识产权治理能够提高企业的总体创新水平、策略性创新水平和实质性创新水平。本文的研究结论为充分发挥知识产权治理作用、破解企业绿色创新难题、积极稳妥推进“碳达峰碳中和”、加快经济社会绿色低碳发展提供了政策参考。

关键词：知识产权治理；绿色创新质量；融资约束；人力资本结构；数字化转型

作者简介：刘妍，东北财经大学会计学院博士研究生，大连，116025；耿云江，东北财经大学会计学院教授、博士生导师，通信作者。

基金项目：辽宁省社会科学规划基金项目“‘双碳’目标下企业数字化治理与绿色发展协同优化研究”（L23BGL029）；东北财经大学会计学院博士研究生科学研究项目“资源配置视角下供应链关系对企业高质量发展的影响研究”（DUFEBY20230104）

引用格式：刘妍,耿云江.知识产权治理能够提升企业绿色创新质量吗？——来自国家知识产权示范企业政策的经验证据[J].经济与管理研究,2025,46(5):125-144.

Can Intellectual Property Governance Improve Green Innovation Quality of Enterprises?

—Empirical Evidence from the NIPDE Policy

LIU Yan, GENG Yunjiang

(Dongbei University of Finance and Economics, Dalian 116025)

Abstract: Green innovation in enterprises faces the dilemma of an overall low level, and how to break this dilemma has become an important issue that urgently needs to be solved.

From the perspective of intellectual property (IP) governance, starting with the National Intellectual Property Demonstration Enterprise (NIPDE) policy, and taking green innovation quality (GIQ) as the research object, this paper first examines the impact of IP governance on enterprises' GIQ by using the data from A-share listed companies in Shanghai and Shenzhen from 2013 to 2022. Next, based on the signal transmission theory, human capital theory, and digital governance theory, it examines the mediating roles of financing constraint alleviation, human capital structure upgrading, and digital transformation implementation in the above-mentioned impact. Then, based on internal environmental protection willingness and external environmental motivation, it examines the moderating effects of the senior management team’s environmental attention and public environmental attention on the relationship between IP governance and enterprises' GIQ, respectively. Finally, it also investigates the sustained effect of IP governance on enterprises' GIQ as well as enterprise innovation.

This paper finds that IP governance can effectively enhance enterprises' GIQ, mainly by alleviating enterprises' financing constraints, upgrading the human capital structure, and facilitating enterprises' digital transformation. The mechanism test reveals that the senior management team’s environmental attention and public environmental attention can positively moderate the incentive effect of IP governance on enterprises' GIQ. Heterogeneity analysis indicates that when enterprises face a high level of climate risk and intensified environmental regulation, IP governance can more significantly improve enterprises' GIQ. The extended research shows that the effect of IP governance on enterprises' GIQ exhibits a certain degree of sustainability, and it can improve the levels of overall innovation, strategic innovation, and substantive innovation within enterprises.

The marginal contributions of this paper are threefold. First, it shifts the research perspective to the NIPDE policy for enterprises and considers the interactive feedback between enterprises and the policy environment, which can effectively make up for the shortcomings of the previous research. Second, it systematically analyzes the impact of IP governance on enterprises' GIQ, aiming to open the “black box” of influencing factors for enterprises' GIQ from a new perspective and deepen the relevant research. Third, it adopts a comprehensive analysis framework combining static and dynamic analyses, which offers an accurate description and a comprehensive evaluation of the effect of IP governance, providing a useful reference for subsequent research.

Based on the research conclusions, the government should continuously optimize and improve the IP governance system, while enterprises should incorporate improving GIQ into their IP governance strategies to accelerate their comprehensive green transformation.

Keywords: IP governance; green innovation quality; financing constraints; human capital strcture; digital transformation

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