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INNOVATIVE PRODUCTIVITY AND RETURNS TO SCALE IN THE PHARMACEUTICAL INDUSTRY.
- Source :
- Strategic Management Journal (John Wiley & Sons, Inc.) - 1980 to 2009; Nov93, Vol. 14 Issue 8, p593-605, 13p
- Publication Year :
- 1993
-
Abstract
- This study shows that firms in the pharmaceutical industry experience decreasing returns to scale in R&D as the level of R&D expenditures rises. The paper presents the results of our study of the innovative output of 16 pharmaceutical firms over a 19 year period. Given the strong correlation between R&D budgets and firm size, our study suggests the wave of mergers in the industry may yield less innovative productivity than managers expect. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 01432095
- Volume :
- 14
- Issue :
- 8
- Database :
- Complementary Index
- Journal :
- Strategic Management Journal (John Wiley & Sons, Inc.) - 1980 to 2009
- Publication Type :
- Academic Journal
- Accession number :
- 12493468
- Full Text :
- https://doi.org/10.1002/smj.4250140803