haku: @author Rodriguez, D. / yhteensä: 3
viite: 2 / 3
| Tekijä: | Higgins, M.J. Rodriguez, D. |
| Otsikko: | The outsourcing of R&D through acquisitions in the pharmaceutical industry |
| Lehti: | Journal of Financial Economics
2006 : MAY, VOL. 80:2, p. 351-383 |
| Asiasana: | pharmaceutical industry outsourcing R&D information |
| Vapaa asiasana: | acquisitions |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the performance of 160 pharmaceutical acquisitions btw. 1994 and 2001. It is found that on average acquirers realize significant positive returns which are positively correlated with prior acquirer access to information about the research and development activities. For determining the current status of a firm's internal productivity, a unique Desperation Index is employed. It is found that firms experiencing declines in internal productivity (or more desperate ones) are more likely to engage in an outsourcing-type acquisition when trying to replenish their research pipelines. |
SCIMA