DO SCIENCE AND MONEY GO TOGETHER? THE CASE OF THE FRENCH BIOTECH INDUSTRY

• 成果类型: Article
• 署名作者: Durand, Rodolphe; Bruyaka, Olga; Mangematin, Vincent
• 署名单位: Hautes Etudes Commerciales (HEC) Paris; Virginia Polytechnic Institute & State University; Grenoble Ecole Management; Communaute Universite Grenoble Alpes; Universite Grenoble Alpes (UGA); INRAE
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.707
• 发表日期: 2008
• 页码: 1281-1299
• 关键词: rent generation; rent appropriations; value drivers; biotech industry

摘要

Developing technological applications, entering exploitation alliances, and choosing between research- or service-focused strategic orientations are decisions that high-tech firms must manage concurrently. This article explores systematically the contrasting effects of these strategic determinants on rent generation mid rent appropriation using the entire population of French biotech firms (1994-2002). Findings indicate that science and money do not unconditionally go together-the direct relationship between rent-accruing resources (e.g., patents or articles) and rent appropriation varies depending oil the type of resources and the strategic orientation. Moreover, the effects of strategic determinants differ for rent generation vs. rent appropriation: 1) technological application diversity undermines a firm's capacity to appropriate rents-in particular for research-oriented firms; 2) exploitation alliances favor rent generation but hinder rent appropriation; 3) service-oriented firms exhibit significantly better performance than research-oriented firms. Such evidence challenges the emergence in the biotechnology industry of a 'one-best' strategic trajectory. as represented by research-intensive start-ups funded by Private money engaged in publishing and patenting races. Copyright (C) 2008 John Wiley & Sons, Ltd.