Open AccessIndependent research and development, technology accumulation and innovation performance: Evidence from China’s pharmaceutical manufacturing industry
Author(s) -
Su Wang,
Qiang Liu,
YuWen Chen
Publication year - 2022
Publication title -
plos one
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.99
H-Index - 332
ISSN - 1932-6203
DOI - 10.1371/journal.pone.0266768
Subject(s) - promotion (chess) , china , construct (python library) , technology innovation , industrial organization , business , pharmaceutical industry , technology development , panel data , marketing , economics , computer science , microbiology and biotechnology , manufacturing engineering , econometrics , engineering , political science , politics , law , biology , programming language
Technology accumulation plays a vital role in research and development (R&D) activities. This paper used technology accumulation as the threshold variable to construct a dynamic panel threshold model to explore the technology accumulation threshold effect of independent R&D on innovation performance of China’s pharmaceutical manufacturing industry over the period 1995~2019. The results show that the independent R&D of China’s pharmaceutical manufacturing industry had a significant promotion effect on innovation performance. However, it is constrained by the level of technology accumulation, showing a significant double threshold effect of technology accumulation. A moderate level of technology accumulation was more conducive to independent R&D to drive innovation performance, while lower or higher technology accumulation will weaken independent R&D promotion on innovation performance. This study provided insights for policymakers and managers in making effective innovation strategies.