The Influence Of Government Subsidies On Firms’ Ambidextrous Innovation

In knowledge-driven economy era,the traditional factor driving can no longer guarantee the sustainable development of firms.Innovation has become the key for firms to obtain competitive advantages.The advantages of firms with innovation ability are gradually emerging.As a technology-intensive industry,the pharmaceutical manufacturing industry needs to carry out a large number of innovative activities to maintain the vitality of the industry.However,the domestic pharmaceutical industry lags behind developed countries in terms of technology level and innovation investment.On the one hand,domestic innovative drug research and development is insufficient,and pharmaceutical companies tend to carry out generic drug business to maintain the normal operation of the company;on the other hand,domestic generic drugs have poor efficacy,low cost performance and low patient recognition under the background of medical insurance subsidies.Innovation activities need to invest a lot of resources,and under the background of "supporting medicine with medicine" and "purchasing with volume" pharmaceutical manufacturing firms are not enthusiastic about innovation.The pharmaceutical manufacturing industry is about to usher in the era of"patent cliff",actively developing new drugs,expanding product lines,and enhancing international competitiveness will become the key to domestic pharmaceutical and pharmaceutical firms to break through the predicament.The study of the role and internal path of government subsidies on exploratory innovation and utilization innovation of pharmaceutical manufacturing firms,as well as the regular adjustment effect of government subsidies,provides some ideas for the government in practice,and has important practical significance.This study expounds government subsidies,dual innovation and rhythm respectively.First,it combs the literature of government subsidies in combination with market failure theory,resource-based theory and signal transmission theory,and then explains the concept of dual innovation and related research interpretations.,and finally introduced the related research on rhythm combined with the theory of absorptive capacity.Then,combined with the rhythm perspective and based on the "input-output"thought path,a research model was established with innovation input as the mediating variable and government subsidy rhythm as the moderating variable.Taking 161 listed companies in the pharmaceutical manufacturing industry from 2011 to 2017 as the research sample,the model is empirically tested using the fixed effects estimation.The empirical results show that:government subsidies have a positive effect on exploratory innovation and utilization innovation;innovation input has a significant partial mediation effect between government subsidies and exploratory innovation and utilization innovation;government subsidy rhythm has a positive effect on government subsidies and innovation The relationship of input has a negative moderating effect.This study combines the basic theory of resources and signal transmission to study the relationship between government subsidies and firm binary innovation,elaborates the intermediary mechanism of innovation input,and explains the regulatory effect of the degree of regularization of government subsidies on the previous stage of the intermediary role in combination with "time compression is not economical",which has a certain degree of innovation.However,the article only selects the pharmaceutical and pharmaceutical industry as the research object,and does not analyze other hightech industries,and the conclusion lacks universality for other industries.