R&D investment behavior of US pharmaceutical firms

JIRÁSEK, Michal. R&D investment behavior of US pharmaceutical firms. International Journal of Innovation Science. EMERALD GROUP PUBLISHING LTD, 2017, vol. 9, No 2, p. 205-219. ISSN 1757-2223. Available from: https://dx.doi.org/10.1108/IJIS-08-2016-0030.

Basic information

• Original name: R&D investment behavior of US pharmaceutical firms
• Authors: JIRÁSEK, Michal (203 Czech Republic, guarantor, belonging to the institution).
• Edition: International Journal of Innovation Science, EMERALD GROUP PUBLISHING LTD, 2017, 1757-2223.

Other information

• Original language: English
• Type of outcome: Article in a journal
• Field of Study: 50600 5.6 Political science
• Country of publisher: United Kingdom of Great Britain and Northern Ireland
• Confidentiality degree: is not subject to a state or trade secret
• WWW: URL
• RIV identification code: RIV/00216224:14560/17:00096812
• Organization unit: Faculty of Economics and Administration
• Doi: http://dx.doi.org/10.1108/IJIS-08-2016-0030
• UT WoS: 000412571600007
• Keywords in English: Innovation management; R&D investment; Behavioral theory of the firm; US pharmaceutical firms
• Tags: International impact, Reviewed

Abstract

Purpose – The behavioral theory of the firm (BTOF) has been used to explain the research and development (R&D) investment behavior of firms in numerous multi industry studies. However, their partially contradictory results point to the possible need for a single industry perspective that would reduce heterogeneity of business trends, models and other characteristics. This study aims to test this theoretical assumption within the challenging context of the US pharmaceutical industry. Design/methodology/approach – The research uses data from 20 firms, which number among the largest in the US pharmaceutical industry, over the period 2002-2014. These data are analyzed using fixed- and random-effect panel models. Findings – The findings generally support the need for a thorough understanding of the industry under study and its specific characteristics. The firms analyzed in this research behave slightly differently from theoretical assumptions, and it is argued that this is caused by industry specific factors. Moreover, the use of two separate aspiration measures – for historical and social aspirations – is supported as it provides more in-depth insight into the firms’ behavior.

Links

• MUNI/A/0909/2015, interní kód MU: Name: Inovační schopnost jako východisko pro měření inovační výkonnosti organizací

Investor: Masaryk University, Category A