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Technological Innovations and Market Power: A Study of Indian Pharmaceutical Industry

Madan Dhanora, Ruchi Sharma and Walter Park

Millennial Asia, 2021, vol. 12, issue 1, 5-34

Abstract: Technological innovations are positively associated with firms’ market performance. This study aims to examine the impact of product and process innovation on the market power of 168 Indian pharmaceutical firms during 2000–2013. 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 firms’ 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 firms’ 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)
Date: 2021
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DOI: 10.1177/0976399620944272

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