R&D Investment, Intellectual Property Protection and Corporate Performance An Empirical Study Based on 190 Listed Companies in China

Based on the knowledge-based theory, this study uses multiple regression methods to study the performance mechanism of R&D investment by using data from 190 GEM listed companies in China from 2011 to 2015. The main conclusions obtained include: first, R&D investment promotes long-term performance better than short-term performance; second, the intellectual property protection positively regulates the relationship between R&D investment and long-term and short-term performance of enterprises and in areas with strong intellectual property protection, and R&D investment can improve long-term and short-term performance of enterprises. The government should increase the protection of intellectual property rights and protect corporate profits. Enterprises should actively carry out R&D to maintain the competitive advantage of enterprises, thus bringing more profits to enterprises. Keywords—R&D investment; long-term and short-term performance of enterprises; intellectual property protection