This investigation delves into the connection between the safeguarding of intellectual property and the outcomes of corporate mergers and acquisitions (M&As) and the mechanisms underlying this relationship. The research uses yearly data from 2009 to 2022, encompassing A-share listed companies in Shanghai and Shenzhen, and empirically examines how intellectual property protection influences corporate M&A performance. Furthermore, it delves into the intermediary functions of accessing financial, information, and policy resources within this context. The findings reveal that bolstering intellectual property rights (IPR) protection notably enhances M&A performance. This enhancement is particularly pronounced in state-owned enterprises and those with a stronger resource foundation. Additionally, IPR protection indirectly augments M&A performance by facilitating improved access to financial, information, and policy resources for firms. These discoveries offer valuable insights for policymakers and corporate practitioners, aiding in a deeper comprehension of the pivotal role that IPR protection plays in the realm of mergers and acquisitions.

中文翻译：

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知识产权保护与并购绩效

本次调查深入探讨了知识产权保护与企业并购结果之间的联系以及这种关系背后的机制。本研究采用2009年至2022年的年度数据，涵盖沪深A股上市公司，实证检验知识产权保护对企业并购绩效的影响。此外，它还深入研究了在此背景下获取金融、信息和政策资源的中介功能。研究结果表明，加强知识产权保护可显着提高并购绩效。这种增强在国有企业和资源基础较强的企业中表现得尤为明显。此外，知识产权保护可以促进企业更好地获取财务、信息和政策资源，从而间接提高并购绩效。这些发现为政策制定者和企业从业者提供了宝贵的见解，有助于更深入地理解知识产权保护在并购领域所发挥的关键作用。