Firm knowledge and market value in biotechnology

Lionel Nesta and Pier Paolo Saviotti

Industrial and Corporate Change, 2006, vol. 15, issue 4, 625-652

Abstract: We examine the relationship between the characteristics of the firms' knowledge base in terms of knowledge capital and knowledge integration and the stock market value of 84 firms active in biotechnology during the 1990s. Panel data regression models show that the degree of knowledge integration within firms is a significant explanatory variable of firms' stock market value. Moreover, knowledge integration becomes an increasingly important determinant of market value, which illustrates the growing integration of biotechnology in several industrial applications. However, the role of knowledge is sector specific, revealing differences in the extent to which biotechnology has become a key technology. Copyright 2006, Oxford University Press.

Date: 2006
References: Add references at CitEc
Citations: View citations in EconPapers (76)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Firm knowledge and market value in biotechnology (2006)
Working Paper: Firm knowledge and market value in biotechnology (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:indcch:v:15:y:2006:i:4:p:625-652

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Industrial and Corporate Change is currently edited by Josef Chytry

More articles in Industrial and Corporate Change from Oxford University Press and the Associazione ICC Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().