A study of firm's competitiveness: R&D and profitability in the Greek pharmaceutical industry

Abstract

The aim of this dissertation is to determine the factors that affect the firm competitiveness of Greek pharmaceutical Industry which produce branded generics and include in-house R&D sections for the period 1998-2016. Greek pharmaceutical industry is one of the most dynamic in the Greek manufacturing sector and its contribution affects considerably the Greek economy as a whole. The concept of firm competitiveness provided the theoretical framework of the study. It has been presented a plethora of definitions about firm competitiveness and techniques for its measuring addressing an overall analysis. The major variable under investigation is the innovation or otherwise R&D expenditures and its impact on firm competitiveness. In order to conclude in accurate results, more variables have been included. In addition, profitability has been used as a proxy of firm competitiveness. Two profitability equations have been constructed and three econometric techniques have been used for the econometric analysis. Data sample consist of 246 total observations. Results reveal the crucial role of R&D intensity ratio and the effect of the other determinants on the profitability and by extension in firm competitiveness. The study closes with the policy implication and suggestions for further research

Ο σκοπός της διδακτορικής διατριβής της υποψήφιας διδάκτωρ του τμήματος ΒΣΑΣ , ήταν η διερεύνηση των παραγόντων που επηρεάζουν την ανταγωνιστικότητα σε επίπεδο επιχείρησης σε ένα δείγμα 13 Ελληνικών φαρμακευτικών εταιρειών που παράγουν κυρίως γενόσημα φάρμακα (ουσιωδώς όμοια φάρμακα με εμπορική ονομασία – branded generics) για την περίοδο 1998-2016. Ιδιαίτερη έμφαση δόθηκε στην επίδραση του παράγοντα της Έρευνας & Ανάπτυξης στην εταιρική ανταγωνιστικότητα