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Pharmaceutical market value in Iran exceeded to more than US$4bn in 2013, indicating annually over 20 per cent growth. In the past decades, Iranian pharmaceutical industry was supported by government policies, namely, generic substitution, import limitation and local production support; however, the local pharmaceutical manufacturer’s market share in value has been decreased gradually. This study aims to provide historical data on Iran pharmaceutical market to show the importance of new product development to attain greater market share and tries to motivate the pharmaceutical industry located in developing countries to develop more innovative medicines.

This is a descriptive cross-sectional study that investigates the Iranian pharmaceutical market by focusing on new products over a five-year period (2009-2014), and that was augmented by an expert panel to rank subjectively firms’ performance indicators to shed light on the importance of new product development to firms’ performance.

The expert panel results find out that new product development is one of the most important “result indicators” for Iranian pharmaceutical companies. Historically, in line with the experts’ opinion on the new product development, the Iranian pharmaceutical industry has shown its capability to develop new medicines by developing 3,095 new products (mostly new-to-firm) across about 100 firms. Despite this fact, the share of local manufacturers in new medicines’ market decreased from 52 per cent at the beginning of studied period to 24 per cent at the end, and the gap between the unit value of imported and domestically produced medicines has been significantly increased due to low-innovative medicines locally produced.

This research was challenged with limitations such as lack of reliable published data on new medicines in the Iran pharmaceutical market.

This study highlights the fact that developing more innovative products in the generic pharmaceutical industry such as Iran can grant its market share.

This is an original study that shows the effect of innovative product development on market share through historical data.

The purpose of this paper is to examine the relationship between the implementation of total quality management (TQM) and organizational performance, using the balanced scorecard (BSC) approach.

In order to investigate the relationship between TQM and BSC, a questionnaire was developed and distributed to 30 largest pharmaceutical distribution companies in Iran. Structural equation modeling was used to evaluate the measurement model and to test the research hypotheses using the data from 933 completed questionnaires.

The results supported the research model and revealed that TQM implementation can positively and significantly influence the BSC and its four perspectives.

Considering the strong association between TQM and all four perspectives of organizational performance (BSC), managers should strongly leverage the implementation of TQM practices in order to reach their strategic objectives.

This study is the first empirical study conducted on the association of TQM and BSC in the pharmaceutical industry. The findings of this study provide strong evidence supporting the implementation of TQM in the pharmaceutical context.

The purpose of this study is to empirically study the relationship between intellectual capital (IC) components (human, structural, and physical capitals) with the traditional measures of performance of the firm (profitability, productivity and market valuation) within the pharmaceutical sector of Iran.

The empirical data were drawn from pharma companies listed in the Iranian Stock Exchange (ISE), over the six‐year period of 2004 to 2009. The analysis of correlation, simple linear multiple regression and artificial neural networks (ANNs) were applied for analyzing any existing relationship between variables in the present study.

The analysis indicates that the relationships between the performance of a company's IC and conventional performance indicators are varied. The findings suggest that the performance of a company's IC can explain profitability but not productivity and market valuation in Iran. Also the empirical analysis found that physical capital (VACA) was the one which was seen to have the major impact on the profitability of the firms over the period of study, in addition the result of ANN method also confirmed findings of multiple regression.

There is an immediate need for policy makers and corporate managers wake up to the need to start disclosure of the IC of firms. IC measurement is of primary interest for top executives of pharmaceutical firms in Iran.

This is an initial and pioneering study to evaluate the IC and its relationship with the traditional measures of corporate performance in the Iranian pharmaceutical industry. The present study provides a new aspect of performance measurement for research‐based industries in emerging economies and would be a good topic for further research.

During the last decade, intellectual capital (IC) has been widely considered as a critical tool to deliver successful business in an intensive knowledge environment. The main goal of this paper is therefore to develop and prioritize human capital indicators as an important component of IC in knowledge-based industries.

Based on an extensive literature review, a valid and reliable questionnaire was designed. In order to gather data, it was sent out to 108 participants from academia and universities who were well qualified in pharmaceutical practice. Besides statistical analysis, the authors also used fuzzy TOPSIS technique as a MADM model in order to extract prioritization of indicators.

The analysis indicates that there is little difference between academic and university respondents. Furthermore, the fuzzy TOPSIS results show that participants have high concerns especially about knowledge and skills of managers and employees.

The findings offer valuable insights in evaluating the state of human capital state as a key component of IC in knowledge- based industry.

There is an immediate need that the policy makers and corporate managers wake up to the need and start to measure and disclose the intangible assets of firms. Intellectual capital measurement is also of primary interest for top executives of pharmaceutical firms in Iran.

This is an initial and pioneering study to develop a valid tool to evaluate IC in the Iranian pharmaceutical industry. The present study provides a new aspect of performance measurement for research-based industries in emerging economies and would be a good topic for further research.

This paper aims to explore the relationship between knowledge creation and intellectual capital (IC) through an empirical study in the pharmaceutical industry. In the current economy, knowledge and IC are considered as the most important organizational assets and are the key resources in gaining competitive advantage.

This paper adopts the socialization, externalization, combination and internalization (SECI) model to examine the format of knowledge creation processes (KCP) and uses a model to demonstrate the relationship between KCP and IC and its components in the pharmaceutical industry. A valid instrument was adopted to collect the required data on KCP and and IC dimensions. Structural equation modeling was used to assess the measurement model and to test the research hypotheses using the data collected from 470 completed questionnaires.

The results supported the research model and revealed that KCP has significant influence on the accumulation of human capital. The performance of human capital manifests significant impact on structural capital and relational capital.

Given the strong association between KCP and IC, managers should define their own robust operations for knowledge creation to improve their IC accumulation.

This research departs from the earlier research on KCP–IC by adopting the SECI model and a research model that facilitates the exploration of the relationship between KCP and IC dimensions in the pharmaceutical industry. The research results provided strong support for the KCP–IC relationship.

The pharmaceutical industry has a critical impact on health promotion. It is essential to identify and prioritize the critical success factors (CSFs) within this industry to ensure successful implementation of total quality management (TQM). Therefore, the purpose of this paper is to identify and prioritize CSFs that affect TQM successful implementation in the pharmaceutical industry.

Based on a thorough review of the literature and building on the earlier studies, a valid questionnaire was developed and sent to 320 managers in pharmaceutical sector. In total, 210 completed questionnaires were returned. The technique for order of preference by similarity to ideal solution (TOPSIS) was used to rank and prioritize CSFs.

Results of the data analyses showed that information and analysis, management commitment, relationship with suppliers, and customer focus are the top four CSFs for the successful implementation of TQM in the pharmaceutical sector.

Using TOPSIS approach, this is the first study that determines CSFs that have impact on successful implementation of TQM in the pharmaceutical sector. There have been limited studies investigating the CSFs in developing countries. The findings will be useful in helping manager to successfully implement TQM in emerging markets. The approach will help future studies to examine the impact of successful implementation of TQM on firm performance in other industries and in emerging markets.

This paper attempts to evaluate the impact of intellectual capital on bank performance in Bangladesh.

The authors analyze an unbalanced longitudinal data of 32 banks, which cover 318 observations of bank-year from 2010 to 2019. The study employs a dynamic panel model with the two-step system generalized methods of moments (SGMM).

The results show that bank performance is significantly positively affected by the intellectual capital (IC) in Bangladesh. In addition, the findings show that capital employed efficiency (CEE) is an essential determinant of bank performance rather than structural capital efficiency (SCE) and human capital efficiency (HCE) for the Bangladeshi banking sector.

This work is unique as no one has explored the impact of intellectual capital on Bangladesh's bank performance. The findings suggest that business owners, managers and policymakers who want to improve the efficiency of their organizations should spend continuously on IC and expand their investment into CEE, which includes both financial and physical resources, in order to obtain better bank performance.

The purpose of this paper is to estimate the economic (namely cost, revenue and profit) efficiency and its association with intellectual capital of 37 BSE-listed Indian banks over the period 2005–2018.

This study employs truncated Tobit regression to compute the relationship between intellectual capital and estimated cost, revenue and profit efficiency using Data Envelopment Analysis (DEA) for the 37 BSE-listed Indian banks within the panel data framework.

Estimates suggest that banks’ overall annual average cost, revenue and profit efficiency are 0.4466–0.7519, 0.4825–0.8773 and 0.4905–0.8803, respectively, during the sample period. Further, Tobit regression results indicate that the aggregate intellectual capital (value-added intellectual coefficient or Modified Value-added Intellectual Capital) has a positive but minimal impact on these efficiency parameters at 1 percent significance level for the overall sample as well as public sector banks. Among all the sub-components of intellectual capital, human capital, structural capital and relational capital have a positive and moderate impact on these efficiency measures for the overall sample. Control variables, particularly bank size, are significant drivers of the estimated efficiency of banks.

Findings suggest that banks should invest adequately to enhance their overall intellectual capital to further augment these economic efficiency measures in the long run.

This study computes cost, revenue and profit efficiency of 37 BSE-listed banks based on DEA followed by intellectual capital using the Pulic approach (1998 and 2000) and the Bontis (1998) approach in the first stage. Later, it examines the dynamics between the computed efficiency parameters and intellectual capital using Tobit regression within the panel data framework.