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 linkages.
Biotechnology, University-business alliances, Innovation, Knowledge
Business | Strategic Management Policy | Technology and Innovation
Strategy and Organisation
Journal of Business Venturing
GEORGE, Gerard; ZAHRA, Shaker A.; and WOOD, D. Robley.
The Effects of Business-university Alliances on Innovative Output and Financial Performance: A Study of Publicly Traded Biotechnology Companies. (2002). Journal of Business Venturing. 17, (6), 577-609. Research Collection Lee Kong Chian School Of Business.
Available at: http://ink.library.smu.edu.sg/lkcsb_research/4657
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