Will Patent Information Disclosure Really Increase Corporate Value? - The Text Analysis Based on the Annual Report of Listed Companies in China

DOI: https://doi.org/10.62517/jse.202511111

Author(s)

Xiao Yue

Affiliation(s)

Sichuan Agricultural University, Sichuan, China

Abstract

Patent information disclosure, as an important source of information for the innovation strength and sustainable development of enterprises, is an important factor affecting the value of the enterprise. Study based on signalling theory and principal-agent theory, use the 2015-2021 A-share listed company as a sample, use text analysis method and machine learning method to build patented information disclosure indicators, and empirical analysis of the value benefits of patented information disclosure. Studies have found that the current patent information disclosed by listed companies will curb the improvement of corporate value, but with the assistance of other favorable information, This kind of damage will be reduced. The study revealed the motivation for the disclosure of patent information to the enterprise, deepened the inherent impact mechanism of patent information disclosure on the value of the enterprise, and provided practical suggestions for maximizing the advantages of patent information disclosure.

Keywords

Patent Information Disclosure; Information Transparency; Investor Confidence; Corporate Value

References

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