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Two-way relationship between innovation and market structure: evidence from Indian high and medium technology firms

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  • Madan Dhanora
  • Ruchi Sharma
  • Manu Jose

Abstract

This study analyses a two-way relationship between innovation and market structure in Indian high and medium technology firms. We perform an empirical analysis based on a simultaneous equation model on data for 991 high and medium technology firms during 2000–2015. Patent applications and patent grants capture innovation activity of the firms. We find that the market structure has an insignificant impact on innovation. A separate analysis of neck-and-neck firms also suggests that market structure has no impact on innovation. On the other hand, patenting has a positive and significant impact on market structure in both high and medium technology firms. The study concludes that in-house technology creation is a vital source of market dominance in Indian high and medium technology firms.

Suggested Citation

  • Madan Dhanora & Ruchi Sharma & Manu Jose, 2020. "Two-way relationship between innovation and market structure: evidence from Indian high and medium technology firms," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 29(2), pages 147-168, February.
    • Handle: RePEc:taf:ecinnt:v:29:y:2020:i:2:p:147-168
    DOI: 10.1080/10438599.2019.1596575
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    Cited by:

    1. Reddy, Ketan & Sasidharan, Subash & Doytch, Nadia, 2022. "Outward foreign direct investment and domestic innovation efforts: Evidence from India," Journal of Economics and Business, Elsevier, vol. 122(C).

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