 PTE, innovation capital and firm value interactions in the biotech medical industryShu-Hua Hsiao Journal of Business Research, 2014, vol. 67, issue 12, 2636-2644 Abstract: Unlike previous studies which only focus on the main effect between IC and FV, this research includes PTE with the gap of resource-based view. IC is a key element in creating a competitive advantage, as it has a great influence on FV. A company may put relatively less into IC if it demonstrates higher efficiency. However, previous studies have neglected the fact that relative efficiency and IC affect FV and stock returns directly and indirectly. The research period was from 2006 to 2010 and the main research methods include HRA and DEA. The main research findings include the following. (1) There is a space for improvement in terms of the total technical efficiency. (2) PTE has a significant moderating effect between IC and FV. (3) IC and PTE have a significant influence on FV. (4) Apart from PTE and stock returns, IC and FV show significant differences within the sub-industry. Keywords: Innovation capital (IC); Firm value (FV); Pure technical efficiency (PTE); Stock returns; Data envelopment analysis (DEA); Resource-based view (RBV) (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:67:y:2014:i:12:p:2636-2644 DOI: 10.1016/j.jbusres.2014.04.001 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.