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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.

Between 1985 and 2000, the six largest US pharmaceutical firms entered a very active period of partnerships with other pharmaceutical firms to expand their knowledge of biotechnology-based research and development (R&D) frameworks and to bolster the growth of their drug portfolios. The purpose of this study is to examine the annual reports published by these companies for evidence of strategic framing of these partnerships.

A content analysis method was most appropriate for this study, as it allows for analysis of a large amount of information and accurate analysis over time. Ninety-six annual reports from the six major US pharmaceutical firms (Abbott, Bristol Myers Squibb, Eli Lilly, Johnson and Johnson, Merck, and Pfizer) were coded. The final codebook included 18 categories derived from framing theory. After collection, the data were uploaded to SPSS for statistical analysis.

Results indicate that mention of partnerships grew considerably in depth and length over time, but companies did not consistently employ frames to describe why or how they engaged in external partnerships.

This is the first study to assess mentions of pharmaceutical firms' external efforts to build their R&D programs and drug portfolios, from the intersecting perspectives of framing theory and the resource-based view (RBV) of the firm, to illustrate how changes were communicated to shareholders during a dynamic period of change within the industry.

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.

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。

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 study aims to understand the relationship between entrepreneurial competencies (self-efficacy and social capital) and sustainable entrepreneurship and its incidence through entrepreneurial motivations (opportunity and necessity entrepreneurship).

The authors adopt a quantitative approach and use ordinary least squares regressions and bootstrapping analysis to test the hypotheses about the relationship between entrepreneurial competencies and sustainable entrepreneurship mediated by entrepreneurial motivations using a cross-sectional sample of 2,356 nascent entrepreneurs from the Global Entrepreneurship Monitor 2021–2022 report.

Evidence suggests that sustainable entrepreneurship is positively influenced by both opportunity- and necessity-driven entrepreneurship. Additionally, the results show that both entrepreneurial motivations positively mediate the relationship between self-efficacy and sustainable entrepreneurship.

The approach departs from the traditional unidimensional perspective on entrepreneurial motivations, recognizing that an entrepreneur can simultaneously embody varying degrees of both motivations. By integrating the study of entrepreneurial competencies and motivations into sustainable entrepreneurship, we can gain a holistic understanding of the dynamics at play.

El objetivo de este estudio es comprender la relación entre las competencias emprendedoras (autoeficacia y capital social) con el emprendimiento sostenible y su incidencia a través de las motivaciones emprendedoras (emprendimiento por oportunidad y por necesidad).

Adoptamos un enfoque cuantitativo y utilizamos regresiones de mínimos cuadrados ordinarios (MCO) y análisis de bootstrapping para probar nuestras hipótesis sobre la relación entre las competencias emprendedoras y el emprendimiento sostenible mediado por las motivaciones emprendedoras utilizando una muestra transversal de 2.356 emprendedores nacientes del informe Global Entrepreneurship Monitor (GEM) 2021–2022.

La evidencia sugiere que tanto el emprendimiento de oportunidad como el de necesidad tienen un impacto positivo en el emprendimiento sostenible. Además, encontramos que ambas motivaciones emprendedoras median positivamente la relación entre la autoeficacia y el emprendimiento sostenible.

Nuestro enfoque se aleja de la tradicional perspectiva unidimensional de las motivaciones emprendedoras, reconociendo que un emprendedor puede encarnar simultáneamente diversos grados de ambas motivaciones. Al integrar el estudio de las competencias y motivaciones emprendedoras en el emprendimiento sostenible, obtenemos una comprensión holística de la dinámica en juego.

Este artigo tem como objetivo compreender a relação entre as competências empreendedoras (autoeficácia e capital social), e o empreendedorismo sustentável e sua incidência por meio de motivações empreendedoras (empreendedorismo de oportunidade e necessidade).

Adotamos uma abordagem quantitativa e usamos regressões de mínimos quadrados ordinários (OLS) e análise de bootstrapping para testar nossas hipóteses sobre a relação entre competências empresariais e empreendedorismo sustentável mediada por motivações empresariais usando uma amostra transversal de 2.356 empreendedores nascentes do relatório Global Entrepreneurship Monitor (GEM) 2021–2022.

As evidências sugerem que o empreendedorismo sustentável é influenciado positivamente pelo empreendedorismo orientado pela oportunidade e pela necessidade. Além disso, os resultados mostram que ambas as motivações empresariais mediam positivamente a relação entre a autoeficácia e o empreendedorismo sustentável.

Nossa abordagem se afasta da perspectiva unidimensional tradicional sobre as motivações empresariais, reconhecendo que um empreendedor pode incorporar simultaneamente vários graus de ambos os ases motivações. Ao integrar o estudo das competências e motivações empresariais ao empreendedorismo sustentável, obtemos uma compreensão holística da dinâmica em jogo.

This paper aims to investigate the antecedents of recombinant innovation from the perspective of ego–network dynamics, and further disentangle whether ego–network stability or ego–network expansion is more conducive to recombinant innovation under heterogeneous knowledge base.

This paper uses 1,801 patent data in China’s biotechnology field as a sample and adopts fixed effects regression model to examine the effects of ego–network dynamics on recombinant innovation and further uses the Wald tests to discern which ego–network dynamic is more conducive to recombinant innovation under heterogeneous knowledge base.

The empirical results indicate that ego–network dynamics have a positive impact on recombinant innovation. Specifically, for firms with high knowledge breadth and high knowledge depth as well as high knowledge breadth and low knowledge depth, ego–network stability is more conducive to recombinant innovation. By contrast, for firms with low knowledge breadth and high knowledge depth, recombinant innovation benefits more from ego–network expansion. As for firms with low knowledge breadth and low knowledge depth, both ego–network stability and ego–network expansion can promote recombinant innovation, while the effects are not significant.

This research may enlighten managers to choose suitable ego–network dynamics strategies for recombinant innovation based on their knowledge base.

This research not only contributes to the literature on recombinant innovation by revealing the impact of different ego–network dynamics on recombinant innovation but also contributes to network dynamics theory by exploring whether ego–network stability or ego–network expansion is more conducive to recombinant innovation under a heterogeneous knowledge base.

Interdependence on the global economy and rapid technological changes raised the degree of uncertainty and complexity, leading to innovation challenges. Innovation depends on knowledge, and the solution might rest on how sound firms manage it, particularly in emerging markets such as India. The purpose of this paper is to examine how firms implement knowledge management (KM) in highly innovation-oriented firms (biotechnology and pharmaceuticals) and the factors affecting its implementation by examining knowledge interactions between individuals.

This study consists of a systematic literature review, a case study with embedded units and the use of grounded theory to analyse the data. The factors emerging from the results were examined from an individual and organisational lens. Next, complexity theory (CT) was used to understand the impact of these factors in KM by facilitating its incorporation as a system.

The findings of this paper suggest that constant technology adoption increases human-to-technology interaction, higher circulation of existing knowledge and more controlled environments, discouraging individuals from learning or sharing knowledge. From a system perspective, results of this paper suggest that firms self-organise around technology, indicating that innovation decreases as knowledge creation and sharing tend to reduce with lesser social interactions. This study shows the usefulness of using CT in analysing KM for innovation. The performance of the system is analysed based on its constituents and interactions.

This study contributes to advancing CT in KM in the context of innovation in highly knowledge-intensive firms, as few studies were found in the literature.

This paper aims to delve into the nuanced relationship between corporate governance dynamics, human capital disclosure and their impact on the competitive positioning of Japanese listed companies. The study primarily examines how these factors influence employee engagement, a critical determinant of overall business competitiveness.

Panel data for Japanese listed companies for FY 2019 to FY 2021 were analysed using multiple regression analyses with two models.

The results indicate that the presence of independent and female board members has a positive impact on human capital disclosure. Surprisingly, employee engagement was found to be negatively related with human capital disclosure, signifying a potential trade-off between transparency and engagement.

Amidst the escalating emphasis on non-financial information and corporate social responsibility, this paper unveils a previously underexplored aspect of Japanese corporate competitiveness. Specifically, this study offers a fresh empirical perspective on the relationship between corporate governance, human capital disclosure and employee engagement in Japanese listed companies, a topic with limited academic research and no legal regulations in Japan. The findings have significant implications for companies seeking to enhance their human capital disclosure and employee engagement practices, especially in light of the growing focus on non-financial information and social responsibility.

This paper aims to examine the impact of announcements related to 77 interventions by 46 listed Indian pharmaceutical firms during COVID-19 on the abnormal returns of the firms. The study also finds the variables which explain cumulative abnormal returns (CARs).

This study uses standard event methodology to compute the abnormal returns of firms announcing pharmaceutical interventions in 2020 and 2021. Besides this, the multilayer perceptron technique is applied to identify the variables that influence the CARs of the sample firms.

The results show the presence of abnormal returns of 0.64% one day before the announcement, indicating information leakage. The multilayer perceptron approach identifies five variables that explain the CARs of the sample companies, which are licensing_age, licensing_size, size, commercialization_age and approval_age.

The study contributes to the efficient market literature by revealing how firm-specific nonfinancial disclosures affect stock prices, especially in times of crisis like pandemics. Prior research focused on determining the effect of COVID-19 variables on abnormal returns. This is the first research to use artificial neural networks to determine which firm-specific variables and pharmaceutical interventions can influence CARs.