Patent quality and trade credit: Based on the perspective of knowledge breadth
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View abstract on PubMed
Summary
This summary is machine-generated.High-quality patents, measured by knowledge breadth, significantly improve firms
Area Of Science
- Intellectual Property Management
- Corporate Finance
- Innovation Economics
Background
- Firms leverage unique knowledge for profits, but knowledge reproducibility necessitates intellectual property protection.
- Patents establish exclusivity, clarifying profit rights, with patent quality determined by underlying knowledge complexity.
- A patent matrix with diverse, cross-referenced knowledge enhances imitation difficulty and patent protection benefits.
Purpose Of The Study
- To investigate the influence of patent quality, specifically knowledge breadth, on firms' access to trade credit.
- To explore the mediating roles of bargaining power and corporate reputation in this relationship.
- To provide policy recommendations for advancing patent quality development.
Main Methods
- Utilized patent acquisition data from China's A-share listed companies (2006-2023).
- Measured corporate patent quality based on the breadth of embedded knowledge.
- Employed regression analysis to examine the impact of patent quality on trade credit access.
Main Results
- Improvements in corporate patent quality significantly enhance access to trade credit.
- This effect is more pronounced in non-state-owned enterprises and patent-intensive industries.
- Patent quality boosts trade credit access by strengthening bargaining power and enhancing corporate reputation.
Conclusions
- Patent quality, defined by knowledge breadth, is a crucial factor in securing trade credit.
- Leveraging patent assets can reduce transaction costs and financing burdens for firms.
- The study underscores the importance of innovation-driven development through enhanced technological competitiveness and market credibility.
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