M&AかR&Dか

DOI 被引用文献3件 参考文献11件

書誌事項

タイトル別名
  • M&A or R&D?
  • An Analysis of Growth-strategy in the Pharmaceutical Industry
  • 医薬品産業における成長戦略の実証分析

抄録

The purpose of this paper is to investigate the relationship between M&A and R&D investment in the Japanese pharmaceutical industry.<br>Theory suggests M&A may be positively correlated with R&D investment if M&A is motivated by synergistic gains, for example, economies of scale and scope. On the other hand, a negative correlation may occur if firms are choosing risk diversification strategies.<br>Using panel data of 63 firms, 157 samples from 2000-03 and probability models, such as a probit model, a logit model, and a count data model, I conducted an empirical analysis.<br>The major quantitative results are summarized as follows.<br>First, there is a negative correlation (substitutability) between M&A and R&D investment. This suggests firms are specializing in either an internal growth strategy or an external growth strategy.<br>Second, there is a positive correlation between probability of M&A and the firm size.

収録刊行物

  • 医療と社会

    医療と社会 15 (2), 51-61, 2005

    公益財団法人 医療科学研究所

被引用文献 (3)*注記

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参考文献 (11)*注記

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キーワード

詳細情報 詳細情報について

  • CRID
    1390001204472555648
  • NII論文ID
    130004547606
  • DOI
    10.4091/iken.15.2_51
  • ISSN
    18834477
    09169202
  • データソース種別
    • JaLC
    • Crossref
    • CiNii Articles
  • 抄録ライセンスフラグ
    使用不可

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