The Correlation Studies Of Intellectual Property Management And The Listed Company’s Share Price

Today, with so much rapidly development of science and technology,the intellectual property rights is so significant for an enterprise. Itprovides protection for their interests, and also is a very important way tokeep the enterprises’ competitive advantages.However, many Chinese enterprises, especially the traditionalnon-high-tech enterprises, did not fully understand the importance of theintellectual property rights for the development of the enterprises. So, thepurpose of this article is to build a connection between the intellectualproperty rights and the stock price of non-high-tech enterprises. Andwhen the connection is done, we hope it can lead to a high-light ofintellectual management, and give some suggestions to the management.This paper analyzed the relationship between the intangible assetsand intellectual property rights, and made a clear definition of the traditional high-tech industry in the theoretical study. And in theempirical parts, we select almost a hundred listed companies as a sample,did a regression analysis to show the connection between the intellectualproperty rights and the stock price in the latest three years. And we finallybuilt a linear equation between intellectual property rights and the stockprice. When establishing the equation, we divided the intellectualproperty into two parts: the incremental part and the inventory part. Suchclassification is to embody the exact effects of the two parts on the stockprice, and be wear of that, we can give some specific suggestion to themanagement. In addition, there are also some other independent variablesin the equation, they are the market share(MS), the asset-liabilityratio(ALR) and earnings per share(EPS). Because in the author’s view,these factors are all very important factors that affect the company’s shareprice.After the analysis, we found that there is a positive correlationbetween the stock price and intellectual property rights. It shows that themore a company invests on the intellectual property rights, the higher itsstock price would be. And the stock price is always the most importantthing that the investor concerns. So, the conclusion of this paper, gives astrong theory support for the company management to pay more attentionto the intellectual property rights in the angle of attracting investments.