MTEI Seminar by Dr. Evangelos Syrigos, University of Zurich
Event details
| Date | 31.03.2014 |
| Hour | 12:00 › 13:30 |
| Speaker | Dr. Evangelos Syrigos, University of Zurich |
| Location | |
| Category | Conferences - Seminars |
"Managerial Evaluation of Resource Value – Standalone Value, Complementary Resources, and Market Structure"
Abstract :
Resource value is among the most debated concepts in the resource-based theory. In this paper, we test recent arguments that resource value is a function of a resource’s ex ante standalone value, the presence of complementary resources, and demand-side factors using a dataset of all patents filed by the 33 largest pharmaceutical corporations in the US market during 1980-1985. In line with our predictions, we find a positive direct effect of standalone technological value of a new patented molecule. We further find that the level of demand and the firm’s position in the therapeutic class positively moderate the influence of a patented molecules standalone value on the likelihood of that molecule being further developed through clinical trials. Contrary to our predictions, we find that scientific and technological strength negatively moderate this relationship, a finding that suggests negative complementarity in the form of increased selectiveness in further developing molecules into drugs.
Abstract :
Resource value is among the most debated concepts in the resource-based theory. In this paper, we test recent arguments that resource value is a function of a resource’s ex ante standalone value, the presence of complementary resources, and demand-side factors using a dataset of all patents filed by the 33 largest pharmaceutical corporations in the US market during 1980-1985. In line with our predictions, we find a positive direct effect of standalone technological value of a new patented molecule. We further find that the level of demand and the firm’s position in the therapeutic class positively moderate the influence of a patented molecules standalone value on the likelihood of that molecule being further developed through clinical trials. Contrary to our predictions, we find that scientific and technological strength negatively moderate this relationship, a finding that suggests negative complementarity in the form of increased selectiveness in further developing molecules into drugs.
Practical information
- General public
- Free
Contact
- mtei@epfl.ch