Cargando…

Does intellectual property protection promote green innovation in firms? A perspective on R&D spillovers and financing constraints

Although the literature has assessed the impact of Intellectual property protection on urban innovation, there is still a gap in the assessment of the impact of green innovation at the firm level. This study constructs a multi-period differences-in-differences (DID) model using China’s Intellectual...

Descripción completa

Detalles Bibliográficos
Autores principales: Gao, Xiaoyuan, Zhao, Yixin
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10631640/
https://www.ncbi.nlm.nih.gov/pubmed/37939023
http://dx.doi.org/10.1371/journal.pone.0288315
_version_ 1785132403507855360
author Gao, Xiaoyuan
Zhao, Yixin
author_facet Gao, Xiaoyuan
Zhao, Yixin
author_sort Gao, Xiaoyuan
collection PubMed
description Although the literature has assessed the impact of Intellectual property protection on urban innovation, there is still a gap in the assessment of the impact of green innovation at the firm level. This study constructs a multi-period differences-in-differences (DID) model using China’s Intellectual Property Demonstration Cities (IPDC) as a quasi-natural experiment to investigate the impact of IPDC on corporate green innovation. The findings indicate that (1) the IPDC program significantly stimulates corporate green innovation and has long-term effects. This finding still holds after using PSM-DID as well as robust IW estimators. (2) Mechanism analysis suggests that IPDC can promote firms’ green innovation by reducing R&D spillover losses and alleviating financing constraints. (3) Heterogeneity tests show that the IPDC program has a more significant promotion effect on small, state-owned, growth-stage firms. Based on the above findings, this study provides policy implications for enhancing intellectual property protection to stimulate corporate green innovation.
format Online
Article
Text
id pubmed-10631640
institution National Center for Biotechnology Information
language English
publishDate 2023
publisher Public Library of Science
record_format MEDLINE/PubMed
spelling pubmed-106316402023-11-08 Does intellectual property protection promote green innovation in firms? A perspective on R&D spillovers and financing constraints Gao, Xiaoyuan Zhao, Yixin PLoS One Research Article Although the literature has assessed the impact of Intellectual property protection on urban innovation, there is still a gap in the assessment of the impact of green innovation at the firm level. This study constructs a multi-period differences-in-differences (DID) model using China’s Intellectual Property Demonstration Cities (IPDC) as a quasi-natural experiment to investigate the impact of IPDC on corporate green innovation. The findings indicate that (1) the IPDC program significantly stimulates corporate green innovation and has long-term effects. This finding still holds after using PSM-DID as well as robust IW estimators. (2) Mechanism analysis suggests that IPDC can promote firms’ green innovation by reducing R&D spillover losses and alleviating financing constraints. (3) Heterogeneity tests show that the IPDC program has a more significant promotion effect on small, state-owned, growth-stage firms. Based on the above findings, this study provides policy implications for enhancing intellectual property protection to stimulate corporate green innovation. Public Library of Science 2023-11-08 /pmc/articles/PMC10631640/ /pubmed/37939023 http://dx.doi.org/10.1371/journal.pone.0288315 Text en © 2023 Gao, Zhao https://creativecommons.org/licenses/by/4.0/This is an open access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
spellingShingle Research Article
Gao, Xiaoyuan
Zhao, Yixin
Does intellectual property protection promote green innovation in firms? A perspective on R&D spillovers and financing constraints
title Does intellectual property protection promote green innovation in firms? A perspective on R&D spillovers and financing constraints
title_full Does intellectual property protection promote green innovation in firms? A perspective on R&D spillovers and financing constraints
title_fullStr Does intellectual property protection promote green innovation in firms? A perspective on R&D spillovers and financing constraints
title_full_unstemmed Does intellectual property protection promote green innovation in firms? A perspective on R&D spillovers and financing constraints
title_short Does intellectual property protection promote green innovation in firms? A perspective on R&D spillovers and financing constraints
title_sort does intellectual property protection promote green innovation in firms? a perspective on r&d spillovers and financing constraints
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10631640/
https://www.ncbi.nlm.nih.gov/pubmed/37939023
http://dx.doi.org/10.1371/journal.pone.0288315
work_keys_str_mv AT gaoxiaoyuan doesintellectualpropertyprotectionpromotegreeninnovationinfirmsaperspectiveonrdspilloversandfinancingconstraints
AT zhaoyixin doesintellectualpropertyprotectionpromotegreeninnovationinfirmsaperspectiveonrdspilloversandfinancingconstraints