THE MARKET VALUE OF
EVIDENCE FROM THE BIOTECHNOLOGY INDUSTRY
Joseph E. Coombs, Temple
David L. Deeds, Temple University
Literature Review and Hypotheses
Data and Methodology
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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Last Updated 1/15/97 by Geoff Goldman & Dennis Valencia
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