What do U.S. biopharmaceutical companies get from patents and research and development spikes for their dynamic corporate performance?
Date
2020
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Publisher
John Wiley and Sons Ltd
Abstract
This paper investigates how patents and research and development (R&D) spikes affect the corporate performance of 863 firm-year observations of U.S. biopharmaceutical companies. First, a dynamic data envelopment analysis model is adopted to evaluate the performance of the U.S. biopharmaceutical companies. Then, ordinary least squares regression is used to explore the effects of three patent-related variables (patent counts, citations, and claims) and R&D spikes on corporate performance. This study finds positive impacts of patent counts, citations, and claims on corporate performance. In addition, the results show that R&D spikes have negative contemporaneous effects and time-lagged effects on corporate performance. © 2020 John Wiley & Sons, Ltd.
Description
This article is not available at CUD collection. The version of scholarly record of this Article is published in JManagerial and Decision Economics (2020), available online at: https://doi.org/10.1002/mde.3135.
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Keywords
Intellectual Property-Rights, Market Value, Operating Performance, Contextual Variables, Firm Value, Innovation, Efficiency, Productivity, Investment, Impact
Citation
Wang, W., Lu, W., Kweh, Q.L. & Truong, H.T.N. (2020). What do U.S. biopharmaceutical companies get from patents and research and development spikes for their dynamic corporate performance? Managerial and Decision Economics. https://doi.org/10.1002/mde.3135