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| Government Financial Support,Market Environment and New Product Performance:Comparison of Different Regions——A VAR Model Study of Pharmaceutical Industry |
| Li Yanyan1,Gao Shanxing1,Wang Qin2,Yang Zhangbo3 |
1.School of Management,Xi'an Jiaotong University,Xi'an 710049,China;
2.School of Business Administration,Nanjing Audit University,Nanjing 211815,China;
3.School of Humanities and Social Science,Xi'an Jiaotong University,Xi'an 710049,China |
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Abstract Government and the market are two important factors affecting the new product performance.This study examined the relationships among government support,market environment and new product performance by VAR model based on the industry data of pharmaceutical manufacturing from 1995 to 2014,market index data from 1997 to 2009.Empirical study shows that government support has positive effect on the new products performance at the very first period,but no significant effect at district with industrial base.Market environment presents a complex effect on new products performance:a wave relationship from negative to positive.Moreover,the improving of the market environment can promote government support to some extent.Furthermore,all above relationships shows significant regional differences between the eastern,central and western regions.Then,this study proposed policy suggestions on how to develop China's pharmaceutical manufacturing industry and implement innovation-driven development strategy according to the research findings.
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Received: 15 September 2017
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2018, Vol. 0 
