Objective To study the effect of government R&D funding and enterprise R&D input on innovation efficiency of China’s pharmaceutical industry.Methods Based on the inter-provincial panel data of China’s pharma...Objective To study the effect of government R&D funding and enterprise R&D input on innovation efficiency of China’s pharmaceutical industry.Methods Based on the inter-provincial panel data of China’s pharmaceutical industry from 2009 to 2019,the stochastic frontier analysis method was used to study the influence of government R&D funding and enterprise R&D input on the innovation efficiency.Results and Conclusion With 1%increase in government R&D funding,the innovation efficiency of enterprises will increase by 0.122%.When R&D investment increases by 1%,innovation efficiency will increase by 0.169%.Both government R&D funding and enterprise R&D investment promote the innovation efficiency of pharmaceutical enterprises,but the increase of enterprise R&D investment contributes more to the improvement of pharmaceutical innovation efficiency.展开更多
Objective To analyze the relationship between the profitability of pharmaceutical enterprises of different scales and their R&D investment.Methods The data of China’s pharmaceutical manufacturing industry from 19...Objective To analyze the relationship between the profitability of pharmaceutical enterprises of different scales and their R&D investment.Methods The data of China’s pharmaceutical manufacturing industry from 1995 to 2016 were selected to establish a vector auto-regression mode,and then an impulse response function and variance decomposition were used to analyze the data.Results and Conclusion For large-scale pharmaceutical enterprises,1%increase in R&D input will lead to 0.792%increase of their main business profit.For medium-sized enterprises,if their main business profit increases by 1%,their R&D input will increase by 0.965%.Therefore,if their R&D input increases by 1%,their main business profit will increase by 1.036%.The improvement of the profitability of large-scale pharmaceutical enterprises cannot promote the increase of R&D capital investment.But the increase of profitability from medium-sized enterprises can promote the increase of R&D capital investment.As a result,the increase of R&D capital investment of large and medium-sized enterprises can improve corporate profitability.展开更多
Promoting the growth of the lithium battery sector has been a critical aspect of China's energy policy in terms of achieving carbon neutrality.However,despite significant support on research and development(R&...Promoting the growth of the lithium battery sector has been a critical aspect of China's energy policy in terms of achieving carbon neutrality.However,despite significant support on research and development(R&D)investments that have resulted in increasing size,the sector seems to be falling behind in technological areas.To guide future policies and understand proper ways of promoting R&D efficiency,we looked into the lithium battery industry of China.Specifically,data envelopment analysis(DEA)was used as the primary approach based on evidence from 22 listed lithium battery enterprises.The performance of the five leading players was compared with that of the industry as a whole.Results revealed little indication of a meaningful improvement in R&D efficiency throughout our sample from 2010 to 2019.However,during this period,a significant increase in R&D expenditure was witnessed.This finding was supported,as the results showed that the average technical efficiency of the 22 enterprises was 0.442,whereas the average pure technical efficiency was at 0.503,thus suggesting that they were suffering from decreasing returns to scale(DRS).In contrast,the performance of the five leading players seemed superior because their average efficiency scores were higher than the industry's average.Moreover,they were experiencing increasing scale efficiency(IRS).We draw on these findings to suggest to policymakers that supporting technologically intensive sectors should be more than simply increasing investment scale;rather,it should also encompass assisting businesses in developing efficient managerial processes for R&D.展开更多
基金Liaoning Science Public Welfare Research Fund(Soft Science Research Program)in 2022(No.2022JH4/10100040).
文摘Objective To study the effect of government R&D funding and enterprise R&D input on innovation efficiency of China’s pharmaceutical industry.Methods Based on the inter-provincial panel data of China’s pharmaceutical industry from 2009 to 2019,the stochastic frontier analysis method was used to study the influence of government R&D funding and enterprise R&D input on the innovation efficiency.Results and Conclusion With 1%increase in government R&D funding,the innovation efficiency of enterprises will increase by 0.122%.When R&D investment increases by 1%,innovation efficiency will increase by 0.169%.Both government R&D funding and enterprise R&D investment promote the innovation efficiency of pharmaceutical enterprises,but the increase of enterprise R&D investment contributes more to the improvement of pharmaceutical innovation efficiency.
基金Research on Innovation and Development Strategy of Pharmaceutical Industry in Liaoning Province(No.2020lslktyb-095).
文摘Objective To analyze the relationship between the profitability of pharmaceutical enterprises of different scales and their R&D investment.Methods The data of China’s pharmaceutical manufacturing industry from 1995 to 2016 were selected to establish a vector auto-regression mode,and then an impulse response function and variance decomposition were used to analyze the data.Results and Conclusion For large-scale pharmaceutical enterprises,1%increase in R&D input will lead to 0.792%increase of their main business profit.For medium-sized enterprises,if their main business profit increases by 1%,their R&D input will increase by 0.965%.Therefore,if their R&D input increases by 1%,their main business profit will increase by 1.036%.The improvement of the profitability of large-scale pharmaceutical enterprises cannot promote the increase of R&D capital investment.But the increase of profitability from medium-sized enterprises can promote the increase of R&D capital investment.As a result,the increase of R&D capital investment of large and medium-sized enterprises can improve corporate profitability.
基金This workwas supported by R&D and Application Demonstration of Common Key Technologies in Modern Service Industry,Key Special Sub Topics of National Key R&D Plan(Grant No.2018YFB1402500).
文摘Promoting the growth of the lithium battery sector has been a critical aspect of China's energy policy in terms of achieving carbon neutrality.However,despite significant support on research and development(R&D)investments that have resulted in increasing size,the sector seems to be falling behind in technological areas.To guide future policies and understand proper ways of promoting R&D efficiency,we looked into the lithium battery industry of China.Specifically,data envelopment analysis(DEA)was used as the primary approach based on evidence from 22 listed lithium battery enterprises.The performance of the five leading players was compared with that of the industry as a whole.Results revealed little indication of a meaningful improvement in R&D efficiency throughout our sample from 2010 to 2019.However,during this period,a significant increase in R&D expenditure was witnessed.This finding was supported,as the results showed that the average technical efficiency of the 22 enterprises was 0.442,whereas the average pure technical efficiency was at 0.503,thus suggesting that they were suffering from decreasing returns to scale(DRS).In contrast,the performance of the five leading players seemed superior because their average efficiency scores were higher than the industry's average.Moreover,they were experiencing increasing scale efficiency(IRS).We draw on these findings to suggest to policymakers that supporting technologically intensive sectors should be more than simply increasing investment scale;rather,it should also encompass assisting businesses in developing efficient managerial processes for R&D.
