Technological Innovations and Market Power: A Study of Indian Pharmaceutical Industry
Ruchi Sharma and
Walter G. Park
Millennial Asia, 2021, vol. 12, issue 1, 5-34
Technological innovations are positively associated with firmsâ€™ market performance. This study aims to examine the impact of product and process innovation on the market power of 168 Indian pharmaceutical firms during 2000â€“2013. We generate product and process patent stock to capture firm-level innovation activities. Findings of this study suggest that both product and process innovation positively influence firmsâ€™ market power. Results also reveal that MNEs enjoy more market power in the Indian pharmaceutical industry. Further, this study also highlights that there is a differential impact of firmsâ€™ product group on market power. This study concludes that patenting is a positive source of firm performance in the Indian pharmaceutical industry.
Keywords: Technological innovations; MNEs; market power; Indian pharmaceutical industry (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:millen:v:12:y:2021:i:1:p:5-34
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