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http://hdl.handle.net/1893/30480| Appears in Collections: | Management, Work and Organisation Journal Articles |
| Peer Review Status: | Refereed |
| Title: | Research and development spending and technical efficiency: evidence from biotechnology and pharmaceutical sector |
| Author(s): | Grant, Kevin Matousek, Roman Meyer, Martin Tzeremes, Nickolaos G. |
| Contact Email: | kevin.grant@stir.ac.uk |
| Keywords: | R&D efficiency technology innovation data envelopment analysis US biotechnology and pharmaceutical firms |
| Issue Date: | 17-Oct-2020 |
| Date Deposited: | 19-Nov-2019 |
| Citation: | Grant K, Matousek R, Meyer M & Tzeremes NG (2020) Research and development spending and technical efficiency: evidence from biotechnology and pharmaceutical sector. International Journal of Production Research, 58 (20), pp. 6170-6184. https://doi.org/10.1080/00207543.2019.1671623 |
| Abstract: | Set within the expenditure context of the global financial crisis (GFC), this paper explores how the research and development (R&D) expenditures of biotechnology and pharmaceutical companies affect their technical efficiency levels. A balanced panel of 149 US firms operating in the biotechnology and pharmaceutical sector (covering the period 2000–2017) was employed. Output-oriented partial frontier measures were used to measure the effect of R&D expenditure on firms’ technical efficiency levels. Findings suggest that company efficiency is an important contributor on the effects of R&D on productivity and efficiency. Result suggests that a relationship between technical efficiency and R&D expenditure exhibits a ‘U’-shape relationship. The estimated efficiency of biotechnology firms is higher compared to pharmaceutical firms driven by their higher R&D expenditure levels. We demonstrate that R&D expenditures are essential for firm efficiency. We posit that a threshold level for achieving optimal efficiency levels exist, which can be used to inform managerial and policy-making decisions at the firm level. |
| DOI Link: | 10.1080/00207543.2019.1671623 |
| Rights: | [Grant-etal_InJrnlProdResearch_v12_R_R1_Oct_2018.pdf] This item has been embargoed for a period. During the embargo please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. This is an Accepted Manuscript of an article published by Taylor & Francis Group in International Journal of Production Research on 30 Sep 2019, available online: http://www.tandfonline.com/10.1080/00207543.2019.1671623. [Research and development spending and technical efficiency evidence from biotechnology and pharmaceutical sector.pdf] The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Research and development spending and technical efficiency evidence from biotechnology and pharmaceutical sector.pdf | Fulltext - Published Version | 1.73 MB | Adobe PDF | Under Permanent Embargo Request a copy |
| Grant-etal_InJrnlProdResearch_v12_R_R1_Oct_2018.pdf | Fulltext - Accepted Version | 1.02 MB | Adobe PDF | View/Open |
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