Frontiers of Entrepreneurship Research
1996 Edition


THE MARKET VALUE OF INTANGIBLE RESOURCES:
EVIDENCE FROM THE BIOTECHNOLOGY INDUSTRY

Joseph E. Coombs, Temple University
David L. Deeds, Temple University


Menu
Introduction
Literature Review and Hypotheses
Data and Methodology
Discussion
Results
References
Tables


ABSTRACT

The purpose of this study is to empirically examine the market value of intangible assets in the biotechnology industry. The paper presents a model of the market value of a firm. The explanatory variables include several indicators of the scientific capabilities of the firm including firm citations, contracts and licenses, patents, products in the pipeline, and R&D intensity. Top management team variables investigated here included education, experience, and completeness of the top management team. The results support the conclusion that scientific capabilities significantly impact the market value of the firm while little support is found regarding the top management team variables.

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1997 Babson College All Rights Reserved
Last Updated 1/15/97 by Geoff Goldman & Dennis Valencia

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