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Biotech companies stand as key actors in pharmaceutical innovation. The high risk and long timelines inherent with their R&D investments might hinder their access to funding, potentially stifling innovation. This study aims to explore into the appeal of biotech companies to capital market investors, whose financial backing could bolster the growth of the biotechnology sector.

This paper uses a dataset of 774 US publicly listed biotech firms to investigate their risk and return characteristics by comparing them to pharmaceutical firms and a sample of matched non-biotech R&D-intensive firms over the sample period 1980–2021. Tests show that the conclusions remain consistent across diverse methodological approaches.

The paper shows that biotech companies are riskier than the average firm in the market index but outperform on a risk-adjusted basis both the market and a matched group of R&D-intensive firms. This is particularly true for large capitalization biotech, which is also shown to provide a diversification benefit by reducing the downside risk in past crisis periods.

This paper provides insight relevant to the current debate about the overall performance of the biotech industry in terms of policy changes and their impact on small, early-stage biotech firms. While small and early-stage biotech firms are playing an increasing role in scientific innovation, this study confirms their greater vulnerability to financial risks and the importance of access to capital markets in enabling those companies to survive and evolve into larger biotech.

Numerous biotechnology and pharmaceutical firms have undergone considerable changes and adapted to the challenge of developing sustainable products and services. However, few studies have explored the factors that contribute to the success of external innovation and value co-creation strategies adopted by biotechnology and pharmaceutical firms. The purpose of this study is to examine how biotechnology and pharmaceutical industries use value co-creation strategies to obtain external resources.

This study developed a conceptual framework based on the relevant literature. The study applied a resource-based approach, dynamic capability theory and a qualitative multiple-case study design to investigate several research questions; semi-structured interviews were conducted with representatives from 11 biotechnology/pharmaceutical firms in Taiwan, and the data extracted from the interview content were axially coded.

This study revealed that factors such as dynamic marketing capabilities and process optimization contributed to the success of the aforementioned strategies; several propositions were also developed on the basis of the literature review and coded data, thereby providing insights regarding the relative efficacy and propriety of various external innovation and value co-creation strategies and models in various situations and contexts. Firms and technology providers might enter a technology licensing agreement, establish a joint venture company; participate in a merger/acquisition depending on their size, research and development capabilities; or goals and time- and cost-related factors.

The main original contributions of this study are the proposed conceptual framework and the insights provided regarding the relative efficacy and propriety of different external innovation and value co-creation strategies and models in different situations and contexts.

This study examines a controversial issue (biotechnology) and how news disputes about misinformation related to the issue impacts individuals' attitudes toward a biotechnology company and their trust in the media source.

This study conducts a 2 (risk: low vs. high) x 2 (pre-existing attitude: anti gene-editing technology vs. pro gene-editing technology) x 2 (dispute message: absent vs. present) x 2 (media source: Buzzfeed vs NYT) factorial online experiment using a Qualtrics panel (N = 1,080) to examine the impact on individuals' attitudes toward a biotechnology company and trust in the media source.

Results indicate that dispute messages enhance attitudes toward the company but decrease trust in media sources. Interaction effects between pre-existing attitude and the dispute message, along with perceived risk and the dispute message, illustrate stark differences in how individuals with favorable vs. unfavorable pre-existing attitudes assessed the company after viewing the dispute message.

This study applies arguments from extant literature about prebunking and debunking misinformation. Specifically, this study investigates how dispute messages, a form of debunking through source derogation, actually impact individuals' perceptions of media credibility and/or their attitudes about the content they are reading. The study findings also reveal new insights regarding the interaction between pre-existing attitudes and perceived risk, as well as how dispute messages interact with each of the aforementioned factors.

The purpose of this study is to identify papers that have produced the most significant impact on research on strategic alliances in the biotechnology industry. The authors attempt to illustrate the thematic evolution of its intellectual structure through 616 papers published between 1992 and 2021.

The present research methodology relies on three distinct techniques, implemented using SciMat software: (1) bibliometric techniques, (2) scientific map analysis and (3) content analysis of research documents from the Web of Science (WoS). In this manner, the authors analyse the intellectual structure of the field of strategic alliances in the biotechnology industry, tracking its evolution over a period of three decades.

The study emphasises the relevance of “innovation” as a key theme and identifies several potential areas for future research, which could serve as a foundation for further investigations.

This study represents a novel contribution to the literature as it is the first to use the SciMat tool to analyse strategic alliances in the biotechnology industry. This research reveals that while strategic alliances have been assessed extensively across various industries, some topics, such as the types and formation of alliances, have not been specifically studied in the biotechnology industry. These areas as well as the barriers and variables influencing the formation of alliances offer promising avenues for future research in this field.

本研究旨在確定對關於生物科技產業內的策略聯盟的探究產生極其顯著影響的學術論文。我們擬透過探討於1992年至2021年期間發表的616篇學術論文，去闡明策略聯盟的知識結構的主題演變。

研究依賴三個不同的技術來進行，並以SciMat 可視化軟件來做具體實施的工作。這三個技術為、(一) 文獻計量技術;(二) 科學製圖分析;和 (三) 就取自 Web of Science 的學術文章而進行的內容分析。我們採用這研究法，對在生物科技產業內的策略聯盟的知識結構進行分析，俾能對有關的知識結構的主題演變進行一個涵蓋三十載的跟蹤調查。

研究強調了創新，並視之為主要的主題的重要相關概念;研究亦確定了一些今後可供研究的潛在領域，這或許會成為進一步研究的基礎。

由於本研究是首個研究、使用SciMat這工具去分析在生物科技產業內的策略聯盟，故就有關的文獻而言，它給予新穎的貢獻。研究結果顯示，雖然策略聯盟已在各個不同的產業裡被廣泛評價，但在生物科技產業裡，一些如聯盟的種類和形成方式等的課題仍未得到適切的研究。這些課題，以及影響著聯盟的形成的障礙和變數，會為這領域內今後的學術研究、提供光明的途徑。

The paper aims to examine the influence of closed and open innovation practices on economic performance. This papert also examines the mediating roles of innovation performance and firm performance. The study uses innovation theory based on knowledge management for theoretical support.

The methodology involves two steps. First, all the variables relevant to the adoption of innovative approaches and performance parameters are identified. Subsequently, primary data are gathered from decision-makers of 200 biotechnological firms and a structural equation modeling analysis is performed.

The study's results showed that the open innovation practice, such as interaction with large research and development (R&D) firms and customers, influences the performance parameters. The findings indicate that closed and open innovation practices positively impact performance measures like innovation, firm and economic performance. The results also indicate the mediating role of firm performance. However, the innovation performance was not found to mediate the relationship.

This examination gives experimental bits of knowledge from any confining influence innovation approaches in India. Analysts and specialists of firms can use the results of the current study to comprehend the effect of various innovation practices on different performance measures.

Crises, such as COVID-19 pandemic, are critical events that provoke important changes in organizational practices, regulations and actors' roles. The pharmaceutical sector has been strongly affected because of the urgency to produce drugs that are effective and safe. However, the validation process and regulations are historically restrictive in this sector. This study aims to study how biotechnology firms, small companies lacking resources, have undertaken strategic actions during crisis time to induce important changes to their advantage within such a highly regulated environment.

Interviews were conducted with 21 managers in four mRNA-based biotechnology firms.

Results showed that rhetorical strategies and institutional actions are used in order to manage change opportunities. Media attention, greater openness of state agencies and public willingness to accept new ways of treatment illustrated this opportunity of change in favor of biotechnology firms.

Highly regulated environments tend to be unfavorable to smaller firms with limited resources to overcome these constraints. The authors show that times of crisis can reverse this assumption through the provision of new opportunities as long as the smaller firms skillfully use strategic actions to exploit the institutional changes at play.

This article of exploratory research provides a critical perspective on accountability, focusing on three characteristics: transparency, asymmetry and individual agency. An experimental method is developed, calling for an ethics of accountability.

Four entrepreneurs have given accounts of themselves and their projects in life cycle interviews. This article applies Devereux's approach (1967), which allows for opacity (the “unconscious”) to oneself and to others with symmetry between analysts and analysed, and a lack of demarcation between the observer and the observed.

A tragic entrepreneurial accountability trap of continuous self-justification was discovered, which pertains both to the entrepreneurs and the researchers. Nonetheless, the researchers as inspired by Devereux's method were able to realize a form of accounterability.

This article shows that the demands for transparent, asymmetrical and agentive accountability call for ethical reflection. The request for accounts, as resulting in the accounts given and the research conducted into accountability, are all sources of constraints. Differing the accountability situation may lessen the constraints.

This study introduces Devereux's method as an investigative tool in accountability research, opening up new perspectives on communication and analysis. This article shows the researcher as situated both inside and outside of the accountability mechanisms. This article explores a singular form of accountability; that of entrepreneurs who seemingly only account for the future, thereby disconnecting them from others.

Much of extant literature on entrepreneurship ecosystems is geared toward mid- and large-size metropolitan areas, and small cities are considered disadvantageous without essential elements for the ecosystem. The purpose of this paper is to shed light on understanding how small cities can have vibrant entrepreneurship ecosystems.

This study conducted 42 semistructured interviews of entrepreneurs and supporters in small towns of Montana, USA. This study also supplemented with a survey of 178 firms.

Entrepreneurs in small cities enjoy dense support networks including experienced entrepreneurs, key business and civic leaders and elected officials. They also attend entrepreneurial events and establish connections with support organizations with a distance of 200 miles.

The cases in this paper demonstrate that small cities can have vibrant entrepreneurship ecosystems without urban diversity and agglomeration. That additionally means that we should not apply the theoretical framework developed with large urban areas to small cities and consider different models of development for small cities.

The purpose of this study is to identify the factors that contribute to the successful implementation and management of sustainable innovation in research-intensive sectors such as the life sciences industry.

The study was conducted through a combination of two methods. The first was qualitative interviews of 21 sustainability experts and leaders in the life sciences industry who were responsible for implementing sustainable innovation. They were selected through nonprobabilistic purposive sampling. The second method was thematic content analysis using the MAXQDA software.

The study identified that successful implementation of sustainable innovation in research-intensive firms begins with the alignment of the executive vision for sustainability with the business objectives of the research-intensive firm. Furthermore, implementation of sustainability practices is identified as a function of organizational reconfigurations that facilitate purposeful inflow and outflow of ideas and knowledge between internal firm resources and external stakeholders, anchored by the objectives of the research-intensive firm.

The study explicated factors only within life sciences industry based on qualitative interviews. The study offers scope for cross-sector quantitative evaluation.

To the best of the authors’ knowledge, this study is among the first studies to systematically delineate the underlying factors that govern successful implementation of sustainable innovation in research-intensive industries, through integration of the resource-based view and stakeholder theory and thereby provide a framework for research-intensive organizations to implement sustainable innovation practices.

Technology acquisition is a common phenomenon of acquiring external knowledge, but we have a limited understanding of conditions in which the acquirer integrates the target or not. On one hand, the acquirer may have a policy to integrate the target to benefit from its prior knowledge. On the other hand, the target may face challenges in continuing its knowledge creation and the acquirer may want to provide it autonomy to not disrupt it. This paper aims to identify conditions in which targets tend to be less integrated after acquisitions, allowing them to maintain more autonomy and contribute more to knowledge creation.

We test our arguments in the empirical setting of the global biopharmaceutical industry using a difference-in-difference approach on a longitudinal dataset of matched patents. We examine self-cites received by patents belonging to acquirers and the targets before and after the acquisitions.

We find that, on average, the targets’ prior patents do not receive more self-cites after the acquisition. We conclude that this is because their R&D activities are disrupted, suggesting a higher level of post-acquisition integration. However, more nuanced findings reveal that it may not be the case all the time. When the target has more research experience, is international or is specialized in complementary technologies, prior patents of targets continue to receive more self-cites after the acquisition. It indicates that the targets in such conditions continue knowledge creation, suggesting a lower level of post-acquisition integration.

Our findings contribute to post-acquisition integration research. While post-acquisition integration downside is common, we present conditions in which such a downside may be less likely. We highlight that the context of an acquisition may be an important determinant of the extent of integration of the target. Moreover, we supplement the integration research (cultural, structural and human resource and leadership perspectives of integration) by adding a knowledge-based perspective to it. Such dynamics have important implications for acquirers and targets in deriving value from the acquisition.