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Intellectual property litigation, financing constraints, and firms’ innovation resilience

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  • Hu, Ke
  • Wang, Jing

Abstract

Drawing on firm- and province-level data for China’s A-share listed companies from 2007 to 2023, this study empirically examines the relationships among intellectual property litigation, financing constraints, and firms’ innovation resilience. The empirical results indicate that intellectual property litigation has a significant positive effect on firms’ innovation resilience, while financing constraints exert a significant negative effect. Further analysis reveals that financing constraints play a significant moderating role in the relationship between intellectual property litigation and innovation resilience, and that government intervention serves as a mediating mechanism between intellectual property litigation and innovation resilience. In addition, the effects of intellectual property litigation and financing constraints on firms’ innovation resilience exhibit notable heterogeneity between competitive and non-competitive industries.

Suggested Citation

  • Hu, Ke & Wang, Jing, 2026. "Intellectual property litigation, financing constraints, and firms’ innovation resilience," Finance Research Letters, Elsevier, vol. 87(C).
    • Handle: RePEc:eee:finlet:v:87:y:2026:i:c:s1544612325023347
    DOI: 10.1016/j.frl.2025.109085
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    References listed on IDEAS

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