Search results for " Biopharmaceutical industry"
showing 8 items of 8 documents
An alliance timing game under real options in biopharmaceutical industry
2014
The importance of alliances in firm capital structure decisions: evidence form biotechnology firms
2017
Building on finance research, we argue that the ex post hazards arising from alliance formation depend upon the firm’s financial condition. Financial distress jeopardizes the continuity of an alliance and the value of the investments involved. Thus, firms should reduce leverage to signal continued commitment and to induce investments from alliance partners. Accordingly, we find that a firm’s current alliance propensity predicts its subsequent capital structure decisions and that this relationship is most pronounced in the presence of other exchange hazards. Our paper contributes to alliance research and to the growing literature discussing the strategic consequences of capital structure.
Network Positions and the Probability of Being Acquired: An Empirical Analysis in the Biopharmaceutical Industry
2016
This paper examines the relationship between the firm's direct ties, its inter-firm network prominence and its likelihood of being acquired. The authors argue that firm's direct ties and prominence enhance the firm's visibility and signal its quality – and thus foster the firm's likelihood of being acquired. However, higher levels of direct ties and prominence, by providing access to resources and the firm's status, respectively, increase the firm's ability to remain independent and thus reduce its likelihood of being acquired. Thus, the authors posit the overall relation as an inverted U-shaped. Furthermore, they show that, for firms that undergo an initial public offering, the aforementio…
Open innovation and firms performance: state of the art and empirical evidences from the bio-pharmaceutical industry
2016
The research presented in this paper explores the effect of inbound, outbound and coupled open innovation practices on firms' performances in the biopharmaceutical industry. Specifically, although existing researches on open innovation effectiveness have separately investigated the effect of open innovation practices on innovation and financial performance, this study evaluates the concurrent effect of these practices on both such performance dimensions in a single framework. We state the importance for a manager to explore concurrently the influence of specific open innovation practices both on innovation and economic-financial performance. We empirically test our framework on a sample of …
Supply chain of innovation and new product development
2015
This paper conceptualizes the supply chain of innovation of a company as its supply chain not related to physical goods exchanges but to R&D commodities exchanges. R&D commodities, being the outcomes of research activities, are for example patents, technologies, research services, studies, projects, etc. Spe- cifically, we focus on the relationship between the activities of purchasing/selling R&D commodities and the propensity of the firm to develop new products; we examine how the position of the firm within its innovation network moderates this relationship. The empirical setting of the research consists of a cross- sectional dataset of 544 biopharmaceutical companies that hav…
The interaction between inter-firm and interlocking directorate networks on firm's new product development outcomes
2016
This paper explores the interaction between a prominent board of directors and the network of inter-firm rela- tionships on new product development. Specifically, we posit a positive interaction effect between a prominent board and the inter-firm network and structural holes positions on the number of new products developed by the firm. We test the theoretical framework on a sample of 1758 agreements among 1890 biopharmaceutical firms over the period 2006–2010. We find that by filtering, complementing and legitimizing information coming from the inter-firm network, a prominent interlocking directorate network can improve the inter-firm network's effects on new product development. We discus…
A real options based support system to open innovation
2012
Pharmaceutical R&D process (PR&DP) has been deeply investigated by different streams of literature; the interest is due to the strategic implication of the related decisions undertaken. The PR&DP has been revolutionised by the biotech advent and as a consequence R&D managers cannot avoid to consider Open Innovation paradigm during this decision process. Starting from a Real Option optimization model available in literature, the paper aims at proposing a decision support system (DSS) able to suggest the candidate products to be included in the best R&D portfolio varying input parameters (resilient products), to provide a products Pareto analysis that aims at individuating the products for wh…