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Research and Development and Firm Size in the Pharmaceutical Industry

Stephen Jarrell
Business Economics
Vol. 18, No. 4 (September 1983), pp. 26-39
Stable URL: http://www.jstor.org/stable/23484704
Page Count: 14
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Research and Development and Firm Size in the Pharmaceutical Industry
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Abstract

This study investigates the simultaneous relationship between firm size and inventive activity. A three-equation model of this relationship is estimated by various techniques. Results are used to compute the elasticity of output with respect to firm size. The effects of large sized firms and increased research and development spending as a firm grows are considered. Results indicate some support for the hypothesis that size is not important in determining productivity of new products, but may be important in increasing output of "economically important" products.

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