Entrepreneurial Orientation on Clinical Development in Pharmaceutical Industry: Fixed-Model Analysis

Dai Matsuda, Tohru Yoshioka-Kobayashi, Kanetaka M. Maki

研究成果: Conference contribution

抄録

Success in pharmaceutical clinical development requires organizational management capabilities. 'Entrepreneurial Orientation (EO)' is a strategic construct that reflects the extent to which firms are innovative, proactive, and risk taking in their behavior and management philosophies. This study elucidates how EO influences clinical development in pharmaceutical firms. Panel-data analysis was conducted using a fixed-effect model. The panel data consists of 29 global pharmaceutical firms focusing on novel drug development for 14 years from 2004 to 2017. Accumulative numbers of novel drug approval in the United States are set as a dependent variable. Independent variables are EO components, stock beta value, and annual turnover. The EO consists of three entrepreneurial factors of innovativeness (R&D expense per sales), proactiveness (R&D expense per EBITDA), and risk taking (Stock volatility). The study results indicate that innovativeness and risk taking showed a significant positive association with an increase in the cumulative number of new product approvals. Risk taking also showed positive association both when excluding bio-tech firms and in biotech firms, but proactiveness was negative only when excluding bio-tech firms. As a result, the study showed that EO impacts novel drug approval in the pharmaceutical industry. Traditional large firm should take risks in separate small organization.

本文言語English
ホスト出版物のタイトルPICMET 2022 - Portland International Conference on Management of Engineering and Technology
ホスト出版物のサブタイトルTechnology Management and Leadership in Digital Transformation - Looking Ahead to Post-COVID Era, Proceedings
編集者Dundar F. Kocaoglu, Timothy R. Anderson, Dilek Cetindamar Kozanoglu, Kiyoshi Niwa, Harm-Jan Steenhuis
出版社Institute of Electrical and Electronics Engineers Inc.
ISBN(電子版)9781890843410
DOI
出版ステータスPublished - 2022
イベント2022 Portland International Conference on Management of Engineering and Technology, PICMET 2022 - Portland, United States
継続期間: 2022 8月 72022 8月 11

出版物シリーズ

名前PICMET 2022 - Portland International Conference on Management of Engineering and Technology: Technology Management and Leadership in Digital Transformation - Looking Ahead to Post-COVID Era, Proceedings

Conference

Conference2022 Portland International Conference on Management of Engineering and Technology, PICMET 2022
国/地域United States
CityPortland
Period22/8/722/8/11

ASJC Scopus subject areas

  • 技術マネージメントおよび技術革新管理
  • 戦略と経営
  • コンピュータ サイエンスの応用
  • 工学(その他)

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