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Competitiveness, Profitability and R/D Intensity: The Case of the Domestic Pharmaceutical Industry in Greece

Vasiliki Kounnou () and Dimitrios Kyrkilis ()
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Vasiliki Kounnou: University of Macedonia
Dimitrios Kyrkilis: University of Macedonia

A chapter in Business Performance and Financial Institutions in Europe, 2020, pp 47-55 from Springer

Abstract: Abstract Greek pharmaceutical industry has been emerged as one of the major drivers for the Greek manufacturing sector mostly from 2000 until 2011. The value-added of the industry in the overall economy is indicated through its impact on the gross value-added production, employment, exports, innovation and global competiveness. Greek pharmaceuticals firms have one of the highest shares of investment in innovation and R&D activities in the total Greek economy. The purpose of this study is to investigate the potential causal relationship between industry-level competitiveness, profitability and R/D intensity. Specific financial ratios have been selected for the regression analysis using a sample of Greek pharmaceutical firms with in-house Research and Development department. The period of the analysis has been defined between 2004 and 2015. According to the existing literature, it is expected that R/D intensity plays a significant role on the profitability for pharmaceutical firms.

Keywords: Greek pharmaceutical industry; R/D intensity; Competitiveness; Profitability; L1; L65 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/978-3-030-57517-5_3

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