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Patent’s Knowledge Scope, Innovation and Incentives

Author: GaoLin
Tutor: HeJingTong
School: Nankai University
Course: Western Economics
Keywords: patent’s knowledge scope innovation ownership of enterprises innovation incentives heterogeneous impact
CLC: F273.1
Type: PhD thesis
Year: 2012
Downloads: 34
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Abstract

Technological change is the ultimate source of sustainable economic growth. Itsnature is the increase of new knowledge of economic value, and as an input the newknowledge will promote performance of the economy. The increase of knowledge isthe result of R&D and innovation activities in the economy as a whole, so how tomeasure the quantity and quality of innovation activities, has become an importantissue.The measure of innovation output of enterprises or industries often bases on thenumber of patents. But only the number dimension can not be a good measure ofinnovation, because the patent’s value distribution is highly skewed, that is, theeconomic value of patents is of strong heterogeneity.To overcome the shortage of patents number measure of innovation, we putforward the concept of patent’s knowledge scope, defining it as the complexity of theknowledge contained in a patent, to reflect the range of technologies covered by apatent. So the patent’s knowledge scope of enterprises can reflect the degree ofheterogeneity of technical field enterprises involved. With the increased complexityof products, processes, production technology in various industries, product andprocess R&D has become more and more complex too, which requires thatcompanies should have a more complex knowledge base. Patents as an importantcarrier of innovative knowledge which has a significant economic value, itsknowledge complexity will influence its value.In order to measure the patent’s knowledge scope, we construct an indicatorwhich bases on IPC and the internal differences between the IPC classifications. Thenwe examine the relationships between the patent’s knowledge scope, its value and thegrowth of enterprises from microecnomic perspective.In order to overcome the deficiencies of homogenization of the innovationincentive influences，we use the data about patent’s knowledge scope etc. as thedependent variable, the state-owned and private controlled listed companies as samples, to make an empirical analysis of the factors which influence patent’sknowledge scope and innovation, especially the heterogenous incentive effects whichstate-owned and private enterprises may face. Then, we propose policyrecommendations to improve the innovation capability of the two categories ofenterprises in so far as not changing the nature of ownership.The empirical analysis finds following conclusions:First, there is a significant positive correlation between patent’s knowledgescope and patent value; corporate patent’s knowledge scope has a significant positiveimpact on the growth rate of corporate profits, but the number of new patents has nosignificant effect on the growth rate of profits. In addition, the patent’s knowledgescope of high-tech industry is wider than other industries; the trend of the number ofnew patents and corporate patent’s knowledge scope is different: the former risesrapidly and the latter first rises and then drops. These suggest the improvement ofinnovation capability is not an easy process, coporates should not focus on thenumber of patents excessively, but pay attention to the enhancement of patent qualityto reduce the "questionable patents" and "junk patents".Using the corporate patent’s knowledge scope, R&D expenditure and itsparticipation rate, innovation output, innovation efficiency as indicators, we compareinnovative capability of the state-owned and private enterprises, and find that bothhas strengths and weaknesses. Overall, the patent’s knowledge scope of privateenterprises were significantly higher than the state-owned enterprises; thestate-owned enterprises’ total and average industry R&D expenditures is greater thanprivate enterprises, but their R&D intensity is lower; the state-owned enterprises’R&D participation rate is greater than private enterprises showing that theyparticipate in formal R&D more often; in terms of innovation output, the state-ownedenterprises have more patents than private enterprises, most of China’s patents lie inthe hands of state-owned enterprises and private enterprises have the advantage of thepatent only in a few industries; but the state-owned enterprises’ innovation outputintensity was significantly lower than that of private enterprises; Overall, the R&Defficiency of state-owned enterprises is lower than private enterprises, but someindividual state-owned enterprises are far more efficient. In addition, theoretical models and empirical analysis find that for thestate-owned and private enterprises, the same innovation incentive has reverse effects.Rising competition increases the patent’s knowledge scope, innovation inputs andoutputs of the state-owned enterprises but have a significant negative impact onprivate enterprises; tax refunds and financial slack have significant negative impactson the patent’s knowledge scope，innovation input and output of the state-ownedenterprises, but have significant positive effects on the private enterprises.

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