| Summary: | 博士 === 國立成功大學 === 企業管理學系碩博士班 === 100 === Previous studies suggested that new product innovations have the capacity to create and appropriate value, characteristics that are both required to achieve sustained competitive advantage. However, the value created by an organization through the introduction of a new product or process may not be wholly captured by the organization. Based on the concept of profiting from technological innovations (Teece, 1986), the current study attempts to explain the magnitude of stock market responses to new product innovations through the lens of appropriability, where appropriability is determined by the innovation-specific appropriability, complementary assets, market competition (these dimensions are derived from Teece’s building blocks), and technology sourcing modes.
The approvals of new drug applications in the pharmaceutical industry are collected as the sample of new product innovations. In addition, the new drug applications with patent information can help to explore the role of patents on the project level. This study uses event study analysis to access the market value of new product innovations and expects to shed lights on research of appropriability. The results of the regression analysis confirmed that pharmaceutical firms inventing patent portfolios around the core technology, accumulating more experiences with new product applications, and self-generating technology, are the determinants of profitability on new product innovation.
|
|---|
