We use the event study methodology to investigate the share price responses to the formation of 281 partnerships in the biotechnology/pharmaceutical industry over the years 1995-2000. The average stock price response is positive, more so than in previous empirical works, which could be...

We provide estimates of the abnormal stock market returns associated with pharmaceutical firms' announcements of technological and regulatory successes in drug development. On the basis of these estimates, we find empirical support for two key features of technological race models. First, we...

[eng] This article considers the legal conflicts related to intellectual property rights in the pharmaceutical and biotechnology industry. The first part of the paper uses the event study methodology to assess the impact of these conflicts on the market value of the litigants. In the second...

Is technological race a relevant framework to describe the pharmaceutical industry or are technological spillovers so strong as to attenuate the rivalry between firms? An event study on the announcements of technological and regulatory successes shows that on average, the stockmarket returns...

Le systeme des droits de propriete intellectuelle (DPI) a connu cette derniere decennie de profondes mutations au niveau international, avec notamment la signature de l'accord relatif aux " aspects des droits de propriete intellectuelle qui touchent au commerce " (ADPIC) ou accord TRIPS, negocie...

The second French Community Innovation Survey (CIS) indicates that 14% of R&D collaborating firms had to abandon or delay their innovation projects due to difficulties in their partnerships, an outcome which we term "cooperation failures". Controlling for sample selection on the cooperation...

This article studies the location choices of French firms in 17 developing countries. Detailed attention is paid to the role of the patent rights in the host country. On the one hand, the reduction in competition that follows greater patent protection can attract foreign subsidiaries. On the...

The second French Community Innovation Survey (CIS) indicates that 14% of R&D collaborating firms had to abandon or delay their innovation projects due to difficulties in their partnerships, an outcome which we term “cooperation failures”. Controlling for sample selection on the cooperation...

This book analyses how foreign direct investors choose their locations, whilst exploring the forces which shape international economic geography. Although these two issues are, to some extent, inter-related, researchers have only recently acknowledged the similarity of economic geography and...

This article analyzes the individual determinants of acquisition activity and target choices in the pharmaceutical industry over the period 1978-2002. The "innovation gap" hypothesis states that acquiring firms lack promising drug compounds and acquire firms with more promising drug prospects. A...