异质性竞争环境下买方势力对中国制药业创新投入影响的实证研究

An Empirical Study on the Influence of Buyer Power on Innovation Investment of China's Pharmaceutical Industry Under the Circumstances of Heterogeneous Competitive Environment

在深入实施创新驱动发展战略的背景下,加速推进我国制药企业技术创新,既能为制药企业高质量发展提供强劲引擎,又能为维护公共卫生安全提供重要保障。结合Wind数据库和中财网数据库2014—2020年中国医药制造业上市公司数据,运用面板Tobit模型,实证分析来自下游客户的买方势力对制药企业创新投入的影响。并依据产品类别、所处地城、所有权性质和规模对制药企业样本进行分组,以探讨异质性竞争环境下买方势力对供应商创新投入的影响机制。结果表明:(1)买方势力抑制制药企业的创新投入。(2)当卖方抗衡势力以市场份额衡量时,与创新投入正相关,支持熊彼特假说。(3)将卖方抗衡势力作为调节变量时,上游制药企业的抗衡势力存在显著差异,仅一类制药企业的抗衡势力能够显著改善买方势力对自身创新投入的负向影响,削弱买方势力的负效应;另一类制药企业不能依靠横向市场势力抗衡来自下游的买方势力,下游客户在市场交易中的抑制效应仍占主导地位,企业横向市场地位难以发挥正向调节作用。

Under the background of implementing the development strategy driven by innovation deeply,accelerating the technological innovation of China's pharmaceutical enterprises,this can not only provide a strong engine for the high-quality development of enterprises,but also provide an important guarantee for the maintenance of public health safety.Combined with the data on listed companies of China's pharmaceutical manufacturing industry from 2014 to 2020 in Wind database and China finance and economics network database,this study relies on the panel Tobit model,and explores the impact of buyer power from downstream customers on the innovation investment of pharmaceutical enterprises empirically.And the pharmaceutical enterprises are grouped according to different categories,in order to explore the influence mechanism of buyer power on suppliers'innovation investment in heterogeneous competitive environment.The results show that:(1)Buyer power inhibits the innovation investment of pharmaceutical enterprises.(2)When seller countervailing power is measured by market shares,it is positively correlated with innovation investment,which supports Schumpeter hypothesis.(3)When seller countervailing power is taken as the regulating variable,there are significant differences in the countervailing power of upstream pharmaceutical enterprises,only the countervailing power of one kind of pharmaceutical enterprises can significantly improve the negative impact of buyer power on their own innovation investment,and weaken the negative effect of buyer power;The other kind of pharmaceutical enterprises cannot rely on horizontal market power to countervail the buyer power from downstream,the inhibitory effect of downstream customers in market transactions is still dominant,and the horizontal market position of enterprises is difficult to play a positive regulatory role.