Title

The Effects of Business-university Alliances on Innovative Output and Financial Performance: A Study of Publicly Traded Biotechnology Companies

Publication Type

Journal Article

Publication Date

10-2002

Abstract

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.

Keywords

Biotechnology, University-business alliances, Innovation, Knowledge

Discipline

Business | Strategic Management Policy | Technology and Innovation

Research Areas

Strategy and Organisation

Publication

Journal of Business Venturing

Volume

17

Issue

6

First Page

577

Last Page

609

ISSN

0883-9026

Identifier

10.1016/S0883-9026(01)00069-6

Publisher

Elsevier

Additional URL

http://dx.doi.org/10.1016/S0883-9026(01)00069-6