The Determinants of R & D Expenditures: A Study of the Canadian Biotechnology Industry

The Determinants of R & D Expenditures: A Study of the Canadian Biotechnology Industry The relative importance of a multitude of factors forthe allocation of expenses towards R & D are assessedin an empirical study of the Canadian biotechnologyindustry. The results show that patent protection andstrategic alliances facilitate R & D spending. Theresults also show that early-stage firms spend agreater proportion of the expenditures on R & D, whilefirms engaged in R & D in platform technologies andfirms with high debt-equity ratios spend a lowerproportion of their expenditures on R & D. Demand pulland competition variables are insignificant factors. Finally, counter to our expectations, R & Dexpenditures are more intensive among firms engaged inR & D in areas in which consumer controversies are morepronounced. Review of Industrial Organization Springer Journals

The Determinants of R & D Expenditures: A Study of the Canadian Biotechnology Industry

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Kluwer Academic Publishers
Copyright © 2000 by Kluwer Academic Publishers
Economics; Industrial Organization; Microeconomics
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