The Impact Of Human Capitaland Innovation Strategy To The Performance Of Pharmaceutical Manufacturing Enterprise Of Hebei Province

Especially in recent years,because of the importance of the integration of the beijing-tianjin-hebei region,it brings many great opportunities for the rapid development of Hebei province.Pharmaceutical manufacturing enterprises are the focus of Hebei province's business.And it has brought prospects for development of high-tech enterprises in Hebei province.By analyzing the problems that the pharmaceutical manufacturing enterprises has faced,it can promote the enterprises to realize the healthy sustained and rapid development.Besides,it can make the development of economy in Hebei province go to a new level.And it also will lay a foundation for the realization of the integration of the beijing-tianjin-hebei regin earlier.In 2002,China put forward the "brain power" strategy.The eighteenth national congress of the party put forward that we should pay more attention to innovation and promote it to a strategic height.So we can see that innovation and talent are key elements to economic growth.First,this paper summarize the concepts of human capital,innovation strategy,pharmaceutical manufacturing enterprises and enterprise performance at home and abroad.Human capital is divided into general human capital and innovative human capital according to the human capital heterogeneity.And I give the new definition of innovative human capital.For innovation strategy,I establish indicators from two angles of innovation input and innovation output respectively.Secong,at present,for pharmaceutical manufacturing enterprise in Hebei province,they are serious lack of capacity for independent innovation and a serious shortage of high-level scientific research person and lower investment intensity.In this paper,I combine the the actual situation of the pharmaceutical manufacturing enterprises and the data in Hebei province to carried out research work.I calculate the human capital of technological activities and general practitioners in pharmaceutical manufacturing enterprises in Hebei province.And they represent innovative human capital and general human capital.The expenses within budget and the number of invention patents represent the index of innovation.The main business income on behalf of the performance of pharmaceutical manufacturing enterprise in Hebei province.Third,according to the theory and constructed index system,I test the unit root of each variable with Eviews8.0 first.Secondly,I test the interaction effect of human capital,innovative strategies on the performance of pharmaceutical manu-facturing in Hebei province through the built model.Again,on the basis of the test of unit root,I do the co-integration test and build the model of short-term error correlation.And they are used to examine the impact of long and short term on firm performance.Finally,I build the VAR model.And I do the granger causality test,impulse response function analysis and variance decomposition analysis of the model.The research has shown that the interaction of the internal expenditures and innovative human capital can affect performance of pharmaceutical manufacturing enterprise in Hebei province.Innovative human capital and the number of invention patents have long-term sustainability and greater influence on performance of pharmaceutical manufacturing enterprise in Hebei province.While with the passage of time,the role of general human capital gradually close to zero.The impact of innovative human capital and the internal expenditures on performance of pharmaceutical manufacturing enterprise in Hebei province is not significant.According to the theory described in a review,the present situation as well as the empirical results,I point that pharmaceutical manufacturing enterprises in Hebei province should focus on the training and introduction of innovative human capital and improve the management mechanism to retain talent to improve the firm performance.Besides,they should increase investment to human capital and enhance their own creativity and upgrade innovation to a strategic height At last,they also should strengthen exchanges and cooperation with the outside world.