Data of Patent Event Shock, Achievement Transformation and Corporate Performance

Basic information and annual financial data of listed companies are obtained from the Wind database, while annual report data come from CNINFO. The original patent data are sourced from the China National Intellectual Property Administration (CNIPA) patent search and service system.For the listed company data, standard data processing procedures commonly adopted in the literature are followed:(1) financial and real estate firms are excluded;(2) companies under ST, *ST, or PT treatment, as well as those that have been delisted, are excluded;(3) observations with missing or clearly abnormal values for key variables are removed.After these data cleaning steps, an unbalanced panel dataset covering 3,388 listed companies is obtained.For the patent data, the processing strategy is as follows: first, patents with multiple applicants are split; second, errors in firm names are corrected and irrelevant words that do not aid matching are removed; finally, exact matching is conducted between listed company names and patent applicants, and the data are aggregated to the firm-year level, thereby constructing a complete panel dataset of listed companies.