“强监督”还是“搭便车”：自然人大股东如何影响企业专利质量

通过构建改进的知识宽度法测算企业专利质量，并以2007—2016年中国沪深A股上市公司为样本，分析自然人大股东对企业专利质量的影响以及在不同类型企业中其作用的差异性。结果表明，作为“强力监督者”，自然人大股东能够促进企业专利质量提高。但因为其角色由“强监督”转变为“搭便车”，故这种促进作用在国有企业和具有政治关联的企业中并不存在。进一步研究表明，促进作用是通过加强对经理人和研发人员的监督，减少其控制权下投机性创新策略，提升其工作努力程度实现的。研究结论为促进国有企业与民营企业创新能力提升提供相应的政策启示。

"Strong Supervision"or"Free Riding": How do Individual Blockholders Affect the Quality of Enterprise Patents

Constructing an improved knowledge width method to measure the patent quality of enterprises,this paper takes the data of A-share listed companies in Shanghai and Shenzhen from 2007 to 2016 as a sample to study the impact of individual blockholders on the patent quality of enterprises and the differences of their roles in different types of enterprises.The results show that as "strong supervisors",individual blockholders can improve the quality of enterprise patents.However,with the role changing from "strong supervision" to "free riding",this promotion does not exist in state-owned enterprises and enterprises with political connections.In addition,the role of individual blockholders in improving the patent quality of enterprises is realized by strengthening the supervision of managers and R&D personnel.