《保险研究》20240303-《专利保险试点政策与企业数字化转型》（向海凌、陈佳盈、吴非）

［摘   要］国家知识产权局推行的专利保险试点政策，是提升企业创新转型活力的重要工具。本文基于2007~2021年中国沪深两市A股上市企业数据集，通过准自然实验手段检验专利保险试点政策对企业数字化转型的影响。实证结果表明，该政策的实施对企业数字化转型产生了显著的驱动效果。机制分析发现，该政策能够通过改善企业信息传递与预期、增强企业财务稳定与降低企业创新风险、提升企业研发投入与创新产出绩效三项机制驱动企业数字化转型。特别地，在企业数字化转型同群效应的影响下，专利保险试点政策更能发挥其对企业数字化转型进程的助推力，且能够展现出缩小行业差距的“追赶效应”。进一步研究发现，对于非国有企业、高科技企业而言，专利保险试点政策的数字化转型驱动力更为显著。本研究的结论为进一步完善专利保险试点政策、改进相关政策手段、促进企业数字化转型等方面提供了经验证据和政策启示。

［关键词］专利保险试点；企业数字化转型；同群效应

［基金项目］国家自然科学基金青年项目“金融科技对企业数字化转型的效应评估、机制分析与策略优化研究”(72202046)；国家社科基金青年项目“财政科技支出对企业数字化转型的效应评估、机制分析与策略优化研究”(22CJY009)；广东省哲学社会科学规划青年项目“产业政策对企业数字化转型的效应评估、机制分析与策略优化研究”(GD23YYJ09)。

［作者简介］向海凌，广东金融学院金融与投资学院讲师，经济学博士，硕士生导师，研究方向：企业数字化转型；陈佳盈，广东金融学院金融科技工程技术开发中心硕士研究生，研究方向：保险理论与实践；吴非(通讯作者)，广东金融学院行为金融与区域实验室副教授，经济学博士，硕士生导师，研究方向：企业数字化转型。

Pilot Policy of Patent Insurance and Enterprise Digital Transformation

XIANG Hai-ling,CHEN Jia-ying,WU Fei

Abstract：The pilot policy of patent insurance promoted by the State Intellectual Property Office is an important policy tool to enhance the innovation and transformation vitality of enterprises.Based on the dataset of Chinese A-share listed companies in the Shanghai and Shenzhen stock markets from 2007 to 2021,this study employs quasi-natural experimental methods to examine the impact of the pilot policy of patent insurance on enterprise digital transformation.The empirical results indicate that the implementation of the pilot policy of patent insurance has significantly driven enterprise digital transformation.Mechanism analysis reveals that the pilot policy of patent insurance can drive enterprise digital transformation through three mechanisms: improving information transmission and expectations,enhancing financial stability and reducing innovation risks,and increasing R&D investment and innovation output performance.Specifically,under the influence of the "peer effect" in enterprise digital transformation,the pilot policy of patent insurance can exert a greater boosting effect on the process of enterprise digital transformation and exhibit a "catch-up effect" that narrows industry disparities.Further research finds that,the boosting effect is more pronounced for non-state-owned enterprises and high-tech enterprises.The conclusions of this study provide empirical evidences and policy implications for further improving the patent insurance system,enhancing relevant policy measures,and promoting enterprise digital transformation.

Key words：pilot policy of patent insurance;enterprise digital transformation;peer effect