An analysis of R&amp;D, innovation and business performance in the US biotechnology industry

Hall, Linda A.; Bagchi‐Sen, Sharmistha

doi:10.1504/ijbt.2001.000165

Cited by 23 publications

(14 citation statements)

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“…These results support previous studies that argued that firm size and age are important factors for firm survival [13,94]. In addition, R&D intensity also positively affects firm survival, showing the industrial property of technology intensiveness [88]. Moreover, a higher level of business diversification in a firm leads to a lower exit hazard.…”

Section: Methodssupporting

confidence: 89%

“…Firm size is represented by the number of employees, and firm age is calculated by subtracting the year of foundation from the pertinent year [10]. This study also used the log-transform of value calculated by dividing the R&D expenditure by the amount of revenues [88]. However, it takes a substantial amount of time for a biotechnology firm to generate revenues, and thus, there are multiple zero values.…”

Section: Methodsmentioning

confidence: 99%

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Factors Affecting the Survival of SMEs: A Study of Biotechnology Firms in South Korea

et al. 2017

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Past studies examining survival factors of biotechnology firms have focused on pioneer countries, such as the USA, the UK and Germany. However, as the biotechnology industry in Asia is reaching the take-off stage and showing a high growth rate, the research on survival factors in the context of Asian latecomers is needed. The present research investigates internal and external factors affecting the survival of SMEs (Small and Medium-sized Enterprises) in the biotechnology industry in South Korea. The Cox hazard model was employed to perform a robust estimation in survival analysis. The analysis of internal factors showed that the origin of a firm (i.e., having prior experience or spin-offs) and the business sub-sector (i.e., platform-based) affect the hazard rates of biotechnology firms. In terms of external factors, unlike strategic alliances, government R&D funding lowered hazard rates for the firm's survival. Additionally, considering that the reasons of firm exit can be divided into bankruptcy and M&A (Mergers and Acquisitions), the different effects of origins from other firms and strategic alliance for firm survival are confirmed. The results suggest that prior experience, platform-based and constant government R&D funding contribute to the sustainable development of SMEs in the biotechnology industry.

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Section: Methodssupporting

confidence: 89%

Section: Methodsmentioning

confidence: 99%

Factors Affecting the Survival of SMEs: A Study of Biotechnology Firms in South Korea

et al. 2017

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“…This report is supported by Canchumani (2006), because the author considers the consolidation of biotechnology companies on the market slow. Hall and Bagchi-Sem (2001) follow the same line by state that one of biotechnology industry characteristics is the long period required for the innovations developed in research laboratories come available in the market. Thus, G1 ensures: "the researches in biotechnology could last 15…”

Section: Independent Journal Of Management and Production (Ijmandp)mentioning

confidence: 99%

“…One of the features that differentiate the biotechnology industry -from other high-tech industries -is the activities intensity in research and development, and the period required for an innovation to reach the market. These characteristics forces companies to establish more flexible strategies for innovation, growth and survival (HALL; BAGCHI-SEM, 2001;CANCHUMANI, 2006).…”

Section: Independent Journal Of Management and Production (Ijmandp)mentioning

confidence: 99%

The importance of the relationship between company and incubator for biotechnology development

Alves

Volkmer

Silva

2014

Ind. Jour. Manag. & Prod.

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The biotechnology activities development demands an intense academic and scientific basis, a productive sector capable of transforming academic research in scientific products and services, and the creation of an institutional environment to promote the sector's development. Moreover, many biotechnology companies establish formal partnerships with Universities (by technological incubator) to expand innovative capacity coming into the market. The importance of biotechnology for developing countries is perceived by its ability to promote national development based on knowledge and innovation. In Brazil, the government establishes technological incubators to accelerate the company consolidation. In this way, it is important to study the relationship between the actors involved. In this context, this article aims to analyze the relationship between a technological incubator and a biotech company. To do so, the qualitative approach was adopted to reach the objective. Interviews with incubator's employees of a Brazilian University and biotechnology company's managers were conducted. The results show that the companyincubator interaction promoted projects approval which were able to support new researches development and to purchase production 228 INDEPENDENT JOURNAL OF MANAGEMENT & PRODUCTION (IJM&P)http://www. ijmp.jor.br v. 5, n. 1, October -January 2014. ISSN: 2236 equipment. Incubated companies have higher chances of survival in the market from the interaction with University, through the technological incubator. The relationship between the incubator and the biotech company is considered a fundamental condition for biotechnology activities development.

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“…Also, firms benefit from spillovers resultant of this kind of strategic choice such as viability and visibility. For example, the US biotechnology firms which carried out R&D activities had more chances to obtain national and international patents, and they were more likely to obtain revenues streaming from research contracts and licenses (Hall and Bagchi-Sen, 2001). Furthermore, patents allow start-ups to collect a return on R&D investments, and to get a kind of certification which can be used to capture the attention of different stakeholders (Zucker et al, 2002;Niosi, 2003).…”

Section: Intellectual Property Protectionmentioning

confidence: 99%

The disappearance of dedicated biotechnology firms in Canada

Moustakbal¹

2014

IJBT

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Abstract:The present paper has the objective of understanding the disappearance of biotechnology firms. To accomplish this objective, a sample was built from 552 firms operating in Canada between 1996 and 2010. The results reveal that disappearance is not only due to filing for bankruptcy, but also due to change in firms' names, as well as mergers and acquisitions (M&A). Statistical tests further show that the survival of dedicated biotechnology firms (DBFs) depends mainly on two factors: having a qualified management team, and receiving the support of the venture capital firms. In addition, the results demonstrate that firms which mainly operate in the human health sector and have already received support from VC opt for M&A to exit the industry. This study has some practical lessons for different stakeholders concerning the survival and the exit of new enterprise biotechnology firms.

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An analysis of R&D, innovation and business performance in the US biotechnology industry

Cited by 23 publications

References 0 publications

Factors Affecting the Survival of SMEs: A Study of Biotechnology Firms in South Korea

Factors Affecting the Survival of SMEs: A Study of Biotechnology Firms in South Korea

The importance of the relationship between company and incubator for biotechnology development

The disappearance of dedicated biotechnology firms in Canada

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