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Full-Text Articles in Business

The Effects Of Business-University Alliances On Innovative Output And Financial Performance: A Study Of Publicly Traded Biotechnology Companies, Gerard George, Shaker A. Zahra, D. Robley Wood Oct 2002

The Effects Of Business-University Alliances On Innovative Output And Financial Performance: A Study Of Publicly Traded Biotechnology Companies, Gerard George, Shaker A. Zahra, D. Robley Wood

Research Collection Lee Kong Chian School Of Business

Companies in the biotechnology industry face major challenges in developing and commercializing new products. Focusing on publicly traded biotechnology firms that are not members of university incubators or research parks, this paper argues that the links these companies develop with universities can have beneficial effects on a company's operations. Analysis of 2457 alliances undertaken by 147 biotechnology firms shows that companies with university linkages have lower research and development (R&D) expenses while having higher levels of innovative output. However, the results do not support the proposition that companies with university linkages achieve higher financial performance than similar firms without such …


A Comparative Analysis Of The Performance Of Emerging Versus Nonemerging Industry Initial Public Offerings, Todd A. Finkle, Reinhold Lamb Dec 2001

A Comparative Analysis Of The Performance Of Emerging Versus Nonemerging Industry Initial Public Offerings, Todd A. Finkle, Reinhold Lamb

Todd A Finkle

This study fills a gap in previous research by investigating differences between the short and long run aftermarket performance in a sample of emerging versus non-emerging industries. Utilizing the entire population of biotechnology, semiconductor, and Internet IPOs from 1993-1996 as a representative sample of emerging industries, this study found that emerging firms were significantly underpriced compared to a set of non-emerging IPOs.