What do U.S. biopharmaceutical companies get from patents and research and development spikes for their dynamic corporate performance?

Date
2020
Authors
Wang, Wei‐Kang
Lu, Wen‐Min
Kweh, Qian Long
Truong, Hoang Tu Nhi
Journal Title
Journal ISSN
Volume Title
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.
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