Whether Market Segmentation Inhibit Dual Innovation or Not——The Regulatory Role Based on Regional Characteristics
How to break market segmentation and boost innovation is a serious issue in the academic circle.Based on China's provincial panel data from 2011 to 2019,we use the dynamic panel regression model to explore the impact of market segmentation on dual innova-tion(exploitative innovation and exploratory innovation),and further test the regulatory role of regional characteristics(institutional en-vironment,government competition,economic resilience and geographical location)in it.The results are as follows.Market segmentation inhibits dual innovation,and this inhibition is mainly reflected in its impact on exploratory innovation.Regional character-istics mainly play a regulatory role in the relationship between market segmentation and exploratory innovation.Specially,the improve-ment of formal and informal institutional environment helps to weaken the inhibition between the two.The government competition mode of"competition for growth"and"competition for innovation"will strengthen and weaken the negative role between the two,respective-ly.The stronger the economic resilience,the weaker the inhibition between the two.Compared with inland areas,the inhibition of mar-ket segmentation in coastal areas can be eased.
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