Search results for "Biotechnology industry"
showing 9 items of 9 documents
The importance of relation-specific investments in capital structure decision: the case of the biopharmaceutical industry
2012
According to capital structure literature, bilateral relationships with external partners have a strong impact on a firm’s financing decisions because they involve relation-specific investments that would lose most of their value in case of liquidation. By adjusting their capital structure firms can reduce liquidation risks and incentive their partners to undertake such investments. In this paper we extend these arguments to strategic alliances in the context of biotechnology industry, where bilateral relationships are formed to advance the commercialization of innovation and R-S investments are a primary issue. We investigate alliances heterogeneity and analyze whether partnerships possess…
Capital structure decisions in the biotechnology industry: the role of R&D collaborations with pharmaceutical incumbents
2011
This study focuses on the importance of collaborative R&D attitudes of biotech firms in the capital structure determination. Specifically, we investigate the short term impact of R&D agreements on financial leverage and we analyze whether this relationship depends on alliances’ features and the type and characteristics of the partners involved. Our results suggest that agreements with established pharmaceutical incumbents are followed by a reduction in the level of debt, while collaborations with biotech firms do not play a significant role, at least in the short term. However, different explanations are plausible. Our findings could be consistent with an “extension” of the pecking order th…
The challenge of constructing regional advantages in peripheral areas: The case of marine biotechnology in Tromsø, Norway
2011
The idea of constructing regional advantage (CRA) has recently been emphasized by scholars as a new way for firms to gain competitiveness in a globalizing learning economy. The rationale behind the idea is that advantages in a regional industry can be constructed by proactive public–private partnership. This article uses, and examines the relevance of, the CRA framework in analysing the development and functioning of the marine biotechnology industry in Tromso, which is a fairly peripheral region in Norway. Despite the fact that much effort has been put into education and R&D at the University of Tromso and related research institutes, and the fact that many public policy tools have intende…
To survive or succeed? : An analysis of biotechnology firms
2017
In this paper, we address the question whether there exists differences in the determinants that support survival versus success of small and medium-sized high-tech firms. We examine this question in the context of Finnish biotechnology industry by analyzing the survival of all dedicated biotechnology firms in the period of 1978–2008. We argue and show that the success and survival of firms are not necessarily driven by similar determinants. Specifically, we find that while the role of different types of alliances, focused market scope as well as legitimacy of the industry seem to be important both ensuring in survival and enhancing successful performance, determinants related to sources of…
Measuring innovation in long product development cycle industries: an insight in biotechnology
2009
This paper examines and measures innovation in the context of biotechnology firms by analysing the link between R&D, innovation performance and organisational growth. We conceptualise innovation performance as a latent construct with two dimensions: innovation efficacy and innovation efficiency. We use structural equations modelling to test the hypotheses on a data set from the biotechnology industry. Results support our innovation performance conceptualisation which is found to be especially useful to measure innovation in industries with long product development cycles. Findings also underline the importance of R&D knowledge creation for biotechnology firms.
Knowledge management and innovation performance in a high-tech SMEs industry
2011
This article examines how knowledge management (KM) affects innovation performance within biotechnology firms. This is an industry in which small- and medium-sized biotech enterprises live together with the biotech divisions of large pharmaceutical firms. We conceptualize KM as a set of practices and dynamic capabilities, and hypothesize that KM dynamic capabilities act as a mediating variable between KM practices and innovation performance. We use structural equation modelling to test the hypotheses on a data set from the biotechnology industry. The results support our conceptualization and demonstrate its utility in explaining differences in innovation performance across firms. Findings …
Performance analysis of research spin-offs in the Spanish biotechnology industry
2012
Abstract This study examines whether the performance of biotechnology research spin-offs in Spain differs from non spin-off firms, using empirically-based fieldwork over a 5-year period and standard dichotomous regression analysis on 7-year data. Biotechnology research spin-offs in Spain are not necessarily located in core regions, are smaller in size and tend to grow faster in terms of turnover. Corporate groups seldom control them but venture capitalists have a greater tendency to acquire shareholdings in them. Compared to non spin-off firms, research spin-off firms face more serious and more numerous challenges and disadvantages. Only two advantages are apparent: their capacity to attrac…
Analysing the link between export intensity, innovation and firm size in a science-based industry
2007
Abstract The aim of this paper is to contribute to a better understanding of the relationship between export intensity, innovation and size in a particular technological setting: a science-based industry. Using a sample of 121 firms in the French biotechnology industry, we have found that firm size is not a determinant for innovation or for export intensity. However, the results show a positive and significant link between innovation and export intensity. Our findings open a new agenda for policy-makers when interpreting how they should promote innovation and exports in science-based firms.
In-use physicochemical and microbiological stability of biological parenteral products
2015
Pharmaceutical scientists in the biotechnology industry have traditionally focused on achieving acceptable shelf lives of drug products in their original, unopened product unit configuration (e.g., two years stored at 2–8 °C). However, it is now clear that stability considerations extend beyond