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Government innovation subsidy, executives’ academic capital and innovation quality: Evidence from pharmaceutical companies in China

The government employs innovation subsidies as a key incentive strategy to promote companies to innovate more technically. This study analyses how innovation subsidies influences the quality of corporate innovation. We create an innovation quality index for pharmaceutical corporations using categori...

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Autores principales: Xia, Yuntian, Fan, Min, Zuo, Xu, Hao, Wenjing, Jia, Yiwen
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Frontiers Media S.A. 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9874117/
https://www.ncbi.nlm.nih.gov/pubmed/36710848
http://dx.doi.org/10.3389/fpsyg.2022.1092162
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author Xia, Yuntian
Fan, Min
Zuo, Xu
Hao, Wenjing
Jia, Yiwen
author_facet Xia, Yuntian
Fan, Min
Zuo, Xu
Hao, Wenjing
Jia, Yiwen
author_sort Xia, Yuntian
collection PubMed
description The government employs innovation subsidies as a key incentive strategy to promote companies to innovate more technically. This study analyses how innovation subsidies influences the quality of corporate innovation. We create an innovation quality index for pharmaceutical corporations using categorizing data from patent applications submitted by pharmaceutical companies. Using data from 180 listed Chinese pharmaceutical companies between 2010 and 2020, this study proposes a panel regression model to assess the influence of government innovation subsidies on innovation quality, as well as the moderating effect of CEOs’ academic capital. How well innovations are subsidized is also affected by the heterogeneity of property rights. Innovation subsidy has a greater and more positive impact on non-SOEs. This article demonstrates that CEOs with academic credentials and executives with ties to the pharmaceutical industry have a variety of moderate effects. The research offers novel suggestions for enhancing business creativity and the innovation subsidy programme.
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spelling pubmed-98741172023-01-26 Government innovation subsidy, executives’ academic capital and innovation quality: Evidence from pharmaceutical companies in China Xia, Yuntian Fan, Min Zuo, Xu Hao, Wenjing Jia, Yiwen Front Psychol Psychology The government employs innovation subsidies as a key incentive strategy to promote companies to innovate more technically. This study analyses how innovation subsidies influences the quality of corporate innovation. We create an innovation quality index for pharmaceutical corporations using categorizing data from patent applications submitted by pharmaceutical companies. Using data from 180 listed Chinese pharmaceutical companies between 2010 and 2020, this study proposes a panel regression model to assess the influence of government innovation subsidies on innovation quality, as well as the moderating effect of CEOs’ academic capital. How well innovations are subsidized is also affected by the heterogeneity of property rights. Innovation subsidy has a greater and more positive impact on non-SOEs. This article demonstrates that CEOs with academic credentials and executives with ties to the pharmaceutical industry have a variety of moderate effects. The research offers novel suggestions for enhancing business creativity and the innovation subsidy programme. Frontiers Media S.A. 2023-01-11 /pmc/articles/PMC9874117/ /pubmed/36710848 http://dx.doi.org/10.3389/fpsyg.2022.1092162 Text en Copyright © 2023 Xia, Fan, Zuo, Hao and Jia. https://creativecommons.org/licenses/by/4.0/This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
spellingShingle Psychology
Xia, Yuntian
Fan, Min
Zuo, Xu
Hao, Wenjing
Jia, Yiwen
Government innovation subsidy, executives’ academic capital and innovation quality: Evidence from pharmaceutical companies in China
title Government innovation subsidy, executives’ academic capital and innovation quality: Evidence from pharmaceutical companies in China
title_full Government innovation subsidy, executives’ academic capital and innovation quality: Evidence from pharmaceutical companies in China
title_fullStr Government innovation subsidy, executives’ academic capital and innovation quality: Evidence from pharmaceutical companies in China
title_full_unstemmed Government innovation subsidy, executives’ academic capital and innovation quality: Evidence from pharmaceutical companies in China
title_short Government innovation subsidy, executives’ academic capital and innovation quality: Evidence from pharmaceutical companies in China
title_sort government innovation subsidy, executives’ academic capital and innovation quality: evidence from pharmaceutical companies in china
topic Psychology
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9874117/
https://www.ncbi.nlm.nih.gov/pubmed/36710848
http://dx.doi.org/10.3389/fpsyg.2022.1092162
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