Independent research and development, technology accumulation and innovation performance: Evidence from China’s pharmaceutical manufacturing industry

Su Wang, Qiang Liu and Yuwen Chen

PLOS ONE, 2022, vol. 17, issue 4, 1-16

Abstract: 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.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pone00:0266768

DOI: 10.1371/journal.pone.0266768

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