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Administrative penalties and enterprise value: the moderating effect of patent administrative enforcement

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  • Xu, Yong
  • Jia, Xinxin

Abstract

Using panel data from Chinese enterprises, this study investigates the impact of administrative penalties on enterprises’ long-term market value and explores the moderating influence of patent administrative enforcement (PAE) on this relationship. Our results reveal that administrative penalties enhance enterprises’ market value through exposure and enforcement mechanisms. Furthermore, this positive effect is more pronounced in regions with more standardized PAE practices. The findings demonstrate the long-term governance effects of administrative penalties and offer policy recommendations for improving governmental regulation and standardized PAE systems.

Suggested Citation

  • Xu, Yong & Jia, Xinxin, 2025. "Administrative penalties and enterprise value: the moderating effect of patent administrative enforcement," Finance Research Letters, Elsevier, vol. 86(PE).
    • Handle: RePEc:eee:finlet:v:86:y:2025:i:pe:s1544612325018288
    DOI: 10.1016/j.frl.2025.108574
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