The Impact of R&D Subsidies and Non-R&D Subsidies on Innovation Output of Biopharmaceutical Firms

IF 1.7 4区 管理学 Q3 MANAGEMENT
Qing Li, Qingqing Liu, Jie Di
{"title":"The Impact of R&D Subsidies and Non-R&D Subsidies on Innovation Output of Biopharmaceutical Firms","authors":"Qing Li, Qingqing Liu, Jie Di","doi":"10.1177/09717218231161008","DOIUrl":null,"url":null,"abstract":"Government subsidies are important to the improvement of innovation level and sustainable development of biopharmaceutical firms. This paper empirically analyses the impact of government R&D and non-R&D subsidies on the innovation output of biopharmaceutical firms. We establish static, and dynamic panel mediation effect models using 2013–2019 data from China’s listed biopharmaceutical companies. Additionally, we further explore the mediating role of R&D investment between R&D subsidies and innovation output. The findings show that, first, R&D subsidies contribute to the innovation output of biopharmaceutical firms, while the effect of non-R&D subsidies is insignificant. Second, the study of the mechanism shows that R&D subsidies can significantly promote firms’ innovation output through R&D investment in the static mediating model; but interestingly, the R&D subsidies fail to promote innovation output in the dynamic mediating model through R&D investment, perhaps due to the sustainable impact of innovation. Based on the above results, this paper provides suggestions and insights for the formulation of different types of subsidy policies and the improvement of the innovation level of biopharmaceutical firms.","PeriodicalId":45432,"journal":{"name":"Science Technology and Society","volume":null,"pages":null},"PeriodicalIF":1.7000,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Science Technology and Society","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1177/09717218231161008","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 0

Abstract

Government subsidies are important to the improvement of innovation level and sustainable development of biopharmaceutical firms. This paper empirically analyses the impact of government R&D and non-R&D subsidies on the innovation output of biopharmaceutical firms. We establish static, and dynamic panel mediation effect models using 2013–2019 data from China’s listed biopharmaceutical companies. Additionally, we further explore the mediating role of R&D investment between R&D subsidies and innovation output. The findings show that, first, R&D subsidies contribute to the innovation output of biopharmaceutical firms, while the effect of non-R&D subsidies is insignificant. Second, the study of the mechanism shows that R&D subsidies can significantly promote firms’ innovation output through R&D investment in the static mediating model; but interestingly, the R&D subsidies fail to promote innovation output in the dynamic mediating model through R&D investment, perhaps due to the sustainable impact of innovation. Based on the above results, this paper provides suggestions and insights for the formulation of different types of subsidy policies and the improvement of the innovation level of biopharmaceutical firms.
研发补贴与非研发补贴对生物制药企业创新产出的影响
政府补贴对于提高生物制药企业的创新水平和可持续发展具有重要意义。本文实证分析了政府研发补贴和非研发补贴对生物制药企业创新产出的影响。利用2013-2019年中国生物制药上市公司的数据,分别建立静态和动态面板中介效应模型。此外,我们还进一步探讨了研发投入在研发补贴与创新产出之间的中介作用。研究发现:第一,研发补贴对生物制药企业创新产出有促进作用,而非研发补贴对企业创新产出的影响不显著;研究表明,在静态中介模型下,R&D补贴通过R&D投入显著促进企业创新产出;但有趣的是,在动态中介模型中,研发补贴并没有通过研发投入促进创新产出,这可能是由于创新的持续影响。基于以上研究结果,本文为生物制药企业制定不同类型的补贴政策,提高生物制药企业创新水平提供建议和见解。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
CiteScore
3.80
自引率
4.80%
发文量
39
期刊介绍: Science, Technology and Society is an international journal devoted to the study of science and technology in social context. It focuses on the way in which advances in science and technology influence society and vice versa. It is a peer-reviewed journal that takes an interdisciplinary perspective, encouraging analyses whose approaches are drawn from a variety of disciplines such as history, sociology, philosophy, economics, political science and international relations, science policy involving innovation, foresight studies involving science and technology, technology management, environmental studies, energy studies and gender studies. The journal consciously endeavors to combine scholarly perspectives relevant to academic research and policy issues relating to development. Besides research articles the journal encourages research-based country reports, commentaries and book reviews.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信