Battle royal in biotechnology: R&D vs. product vs. process innovations

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dc.contributor.authorNicolau, Juan Luisen
dc.contributor.authorSanta-María, María Jesúsen
dc.date.accessioned2024-08-01T18:58:14Zen
dc.date.available2024-08-01T18:58:14Zen
dc.date.issued2015-02-13en
dc.description.abstractCompanies regard innovation as a central element of their business. However, as not all innovation types are the same, the central question is: should their announcements bring about the same effect on performance? This article analyses potential differences in firm value derived from the innovation-type announcements ‘R&D’, ‘product’, and ‘process’, made by intensive news-generating firms such as biotech companies. The empirical application shows a significantly positive reaction to innovation announcements, with the prospect of future innovation (‘R&D’ investment announcements) having greater impact on firm value than ‘product’ and ‘process’ innovations. Firm experience also acts as a moderator in this innovation–performance relationship, which is particularly relevant for entrepreneurs who need to develop and send credible signals indicating the value of the firm's intangible assets to the market.en
dc.description.versionAccepted versionen
dc.format.extentPages 503-516en
dc.format.extent14 page(s)en
dc.format.mimetypeapplication/pdfen
dc.identifier.doihttps://doi.org/10.1080/09537325.2015.1012056en
dc.identifier.eissn1465-3990en
dc.identifier.issn0953-7325en
dc.identifier.issue5en
dc.identifier.orcidNicolau Gonzalbez, Juan [0000-0003-0048-2823]en
dc.identifier.urihttps://hdl.handle.net/10919/120824en
dc.identifier.volume27en
dc.language.isoenen
dc.publisherRoutledgeen
dc.relation.urihttp://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000352308600002&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=930d57c9ac61a043676db62af60056c1en
dc.rightsCreative Commons Attribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.subjectfirm ageen
dc.subjectbiotechnologyen
dc.subjectR&Den
dc.subjectinnovationen
dc.subjectfirm valueen
dc.titleBattle royal in biotechnology: R&D vs. product vs. process innovationsen
dc.title.serialTechnology Analysis & Strategic Managementen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.otherArticleen
dcterms.dateAccepted2015-01-20en
pubs.organisational-group/Virginia Techen
pubs.organisational-group/Virginia Tech/Pamplin College of Businessen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/Hospitality and Tourism Managementen
pubs.organisational-group/Virginia Tech/All T&R Facultyen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/PCOB T&R Facultyen

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