现代产业经济学系列讲座第276期

时   间：2024年12月4日（周三） 15:30-17:00

地   点：复旦管院思源楼326室

题   目：The Interplay between Innovation and Marketing: Evidence from the Pharmaceutical Industry

主讲人：史册  助理教授（香港中文大学）

主持人：邵翔 副教授

讲座摘要：

This paper examines the long-standing question about the interplay between firms’ innovation and marketing decisions. We develop new perspectives that emphasize the relationships of different marketing activities to innovation and the dynamics of their relationships. Exploiting detailed data on firm-level expenditures and innovation outcomes (patents and new drug applications) and a quasi-experimental policy setting in China during 2009–2018, we examine how firms respond to policy-induced innovation incentives in China’s pharmaceutical industry. We find that as regional innovation policy reforms in China spurred pharmaceutical R&D investments, firms significantly reduced non-advertising marketing expenditure. However, firms raised future advertising expenditures when past R&D input generated innovation outputs. The advertising responses are particularly strong for firms introducing new prescription drugs or those with products in therapeutic classes with shorter R&D cycles. Our results suggest that while firm innovation substitutes non-ad marketing activities, advertising and innovation are dynamic complements. Our study also underscores the importance of understanding the (unintended) impact of innovation policies on marketing activities.

主讲人简介：

史册，香港中文大学经济系助理教授，浙江大学—香港中文大学数字经济联合研究中心副主任。主要研究领域为产业组织与应用微观经济学，研究主题包括数字经济、平台企业与广告、医药产业的实证分析。多项研究受香港研资局及NET Institute等机构资助。

应用经济学系

2024-11-22