Objective To study the causal relationship between R&D investment and enterprise performance of domestic pharmaceutical enterprises.Methods Panel data model was adopted for empirical analysis.Results and Conclusio...Objective To study the causal relationship between R&D investment and enterprise performance of domestic pharmaceutical enterprises.Methods Panel data model was adopted for empirical analysis.Results and Conclusion Increasing the R&D investment intensity of pharmaceutical enterprises in the Yangtze River Delta and Zhejiang by 1%will increase their profit margins by 0.79%and 0.46%.On the contrary,if the profit margin increases by 1%,the R&D investment intensity will increase by 0.25%and 0.19%.If the profit margin of pharmaceutical enterprises in Beijing,Tianjin,Hebei,Chengdu,Chongqing and other regions increases by 1%,the R&D investment intensity will increase by 0.14%,0.07%and 0.1%,respectively,which are lower than those in the Yangtze River Delta and Zhejiang.The relationship between R&D investment and enterprise performance of pharmaceutical enterprises in the Yangtze River Delta and Zhejiang Province is Granger causality,showing a two-way positive effect.Profits and R&D investment of pharmaceutical enterprises in Beijing,Tianjin,Hebei,Chengdu,Chongqing and other regions are also Granger causality.But in the Pearl River Delta,profits and R&D investment have not passed the stability test,it is impossible to determine the causality between them.展开更多
基金Shenyang Pharmaceutical University Young and Middle aged Teacher Career Development Support PlanPublic Welfare Research Fund for Scientific Undertakings of Liaoning Province in 2022(Soft Science Research Plan)(No.2022JH4/10100040).
文摘Objective To study the causal relationship between R&D investment and enterprise performance of domestic pharmaceutical enterprises.Methods Panel data model was adopted for empirical analysis.Results and Conclusion Increasing the R&D investment intensity of pharmaceutical enterprises in the Yangtze River Delta and Zhejiang by 1%will increase their profit margins by 0.79%and 0.46%.On the contrary,if the profit margin increases by 1%,the R&D investment intensity will increase by 0.25%and 0.19%.If the profit margin of pharmaceutical enterprises in Beijing,Tianjin,Hebei,Chengdu,Chongqing and other regions increases by 1%,the R&D investment intensity will increase by 0.14%,0.07%and 0.1%,respectively,which are lower than those in the Yangtze River Delta and Zhejiang.The relationship between R&D investment and enterprise performance of pharmaceutical enterprises in the Yangtze River Delta and Zhejiang Province is Granger causality,showing a two-way positive effect.Profits and R&D investment of pharmaceutical enterprises in Beijing,Tianjin,Hebei,Chengdu,Chongqing and other regions are also Granger causality.But in the Pearl River Delta,profits and R&D investment have not passed the stability test,it is impossible to determine the causality between them.
