知识产权示范城市建设政策是否改善了企业要素资源错配？

刘秉镰　范馨

（南开大学）

内容提要：破除体制机制障碍、矫正企业要素资源错配是推动高质量发展、建设现代化经济体系的重要任务。本文采用2010—2021年A股上市公司数据，运用多时点双重差分模型考察知识产权示范城市建设政策对企业要素资源错配的影响及其作用机制。研究结果表明：（1）知识产权示范城市建设政策能够有效改善要素资源错配，使企业要素扭曲程度明显改善约3.25百分点；（2）知识产权示范城市建设政策通过优化制度环境和降低交易成本改善企业要素资源错配；（3）知识产权示范城市建设政策对副省级城市和高市场化地区要素资源错配的改善作用更强，且能够明显改善非高新技术企业、民营企业和劳动密集型企业的要素资源错配。本文为如何破除体制机制障碍、优化要素资源配置提供了有益思路，也为协调好知识产权保护与企业高质量发展的关系提供了有益借鉴。

关键词：知识产权示范城市；要素资源错配；知识产权保护；制度环境；交易成本

作者简介：刘秉镰，南开大学经济与社会发展研究院教授、博士生导师，天津，300071；范馨，南开大学经济学院博士研究生，通信作者。

引用格式：刘秉镰,范馨.知识产权示范城市建设政策是否改善了企业要素资源错配?[J].经济与管理研究,2024,45(9):126-144.DOI:10.13502/j.cnki.issn1000-7636.2024.09.007.

Does the Intellectual Property Demonstration City Policy Improve Factor Resource Misallocation in Enterprises?

LIU Binglian, FAN Xin

(Nankai University, Tianjin 300071)

Abstract: Breaking down institutional and institutional barriers and correcting factor resource misallocation in enterprises are crucial tasks in promoting high-quality development and building a modernized economic system. Among institutional arrangements of property rights, the intellectual property rights (IPR) protection system plays a vital role because of its features such as safeguarding the monopoly interests of inventors and correcting the positive externalities of innovation output. In order to boost China’s strength in IPR protection, the China National Intellectual Property Administration identified 23 cities including Wuhan and Guangzhou as the first batch of national intellectual property demonstration cities (IPDCs) in 2012. Using the data of A-share listed companies from 2010 to 2021, this paper investigates the impact and mechanism of the IPDC policy on factor resource misallocation in enterprises using a multi-period difference-in-differences model.

The findings indicate that the IPDC policy can effectively improve factor resource misallocation in enterprises and improve the degree of enterprise factor distortion by about 3.25 percentage points. Furthermore, the IPDC policy improves factor resource misallocation in enterprises by optimizing the institutional environment and reducing transaction costs. The results of heterogeneity analysis reveal that the IPDC policy exerts a more substantial effect on ameliorating factor resource misallocation in sub-provincial cities and regions with high marketization. Moreover, it can alleviate factor resource misallocation in non-high-tech enterprises, private enterprises, and labor-intensive enterprises. This paper provides valuable implications for overcoming institutional barriers, optimizing factor resource allocation, and aligning IPR protection with the high-quality development of enterprises.

The marginal contributions of this paper are threefold. First, the quasi-natural experiment of the IPDC policy is used to evaluate the impact of the IPDC policy on factor resource misallocation in enterprises. Second, considering the heterogeneous cost-plus rate, it measures the factor distortion degree of A-share listed companies in China. Third, from the perspectives of institutional environment and transaction costs, it deeply reveals the internal mechanism of the impact of the IPDC policy on factor resource misallocation in enterprises. At the same time, based on the differences in region and enterprise characteristics, it analyzes the heterogeneity of city tier, marketization level, technological characteristics of enterprises, ownership forms, and industries in detail, thus providing theoretical support for the implementation of the IPDC policy. It also provides empirical evidence and practical references for China to strengthen the protection of IPR and build a modern economic system.

Keywords: intellectual property demonstration city policy; factor resource misallocation; intellectual property protection; institutional environment; transaction cost

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