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The impact of patent pledge pilot policy on enterprise digital transformation: evidence from China

Author

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  • Feng, Chao
  • Ma, Shiqun
  • Xiao, Zumian

Abstract

Digital transformation is crucial for enterprises to adapt to environmental changes and reshape their competitive advantages. Promoting the digital transformation of the real economy is a key policy issue that deserves close attention. Prior studies have shown that the patent pledge pilot policy can alleviate financing constraints, increase innovation investment, and attract R&D talent. These elements are critical for driving enterprise digital transformation. However, existing literature has not directly examined the digital transformation effect of the patent pledge pilot policy. Using panel data from Chinese A-share listed enterprises between 2007 and 2019, this paper examines the impact of the patent pledge pilot policy on enterprise digital transformation by employing a staggered difference-in-differences (DID) approach. This paper finds that the patent pledge pilot policy promotes enterprise digital transformation. The effect operates mainly through alleviating financial constraints, increasing innovation investment, attracting research and development (R&D) talent, and strengthening management’s strategic perception. The policy’s effect is more pronounced in non-state-owned enterprises, high-tech enterprises, and in highly competitive industries. Furthermore, by facilitating digital transformation, the policy also enhances the total factor productivity (TFP). This paper expands the literature on the economic consequences of the patent pledge pilot policy and the determinants of enterprise digital transformation. It further identifies the role of the patent pledge pilot policy in facilitating enterprise digital transformation.

Suggested Citation

  • Feng, Chao & Ma, Shiqun & Xiao, Zumian, 2026. "The impact of patent pledge pilot policy on enterprise digital transformation: evidence from China," Economic Analysis and Policy, Elsevier, vol. 91(C), pages 1342-1358.
    • Handle: RePEc:eee:ecanpo:v:91:y:2026:i:c:p:1342-1358
    DOI: 10.1016/j.eap.2026.04.020
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    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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