Firm knowledge and market value in biotechnology

Lionel Nesta and Pier Paolo Saviotti

SciencePo Working papers Main from HAL

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 nineties. 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.

Keywords: BIOINDUSTRY; STOCK MARKET; KNOWLEDGE; RESEARCH AND DEVELOPMENT; DIVERSIFICATION; PERFORMANCE; COHERENCE; PROFITS; PATENTS (search for similar items in EconPapers)
Date: 2006-08
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Published in Industrial and Corporate Change, 2006, 15 (4), pp.625 - 652. ⟨10.1093/icc/dtl007⟩

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

Related works:
Journal Article: 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:hal:spmain:hal-03416011

DOI: 10.1093/icc/dtl007

Access Statistics for this paper

More papers in SciencePo Working papers Main from HAL
Bibliographic data for series maintained by Contact - Sciences Po Departement of Economics ().