US market entry by Spanish pharmaceutical firms
AbstractThis work explores the factors that spur firms’ propensity to enter in international markets. Among the whole population of Spanish firms active in the pharmaceutical sector (over the period 1995-2004), we identify those firms that have entered the US market by assessing whether they have filed at least a trademark in the US Patents and Trademarks Office. By means of a hazard model, we empirically estimate which firm’s characteristics affect the probability of entry in the US market in a given year. Results show that technological capabilities (breadth and depth of firms’ patent base), and the firm’s cost structure explain the entry in the US market with a branded product. Moreover, our evidence shows that entry strategies based on differentiation advantage (technological diversification) and strategies based on cost advantage (scale economies) are exclusive and do not mix well each other
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Bibliographic InfoPaper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we101103.
Date of creation: Feb 2010
Date of revision:
Foreign market entry; Internationalization strategies; Firm-Specific advantages; Competitive advantage; Innovation and R&D; Patents; Trademarks;
Find related papers by JEL classification:
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-08 (All new papers)
- NEP-COM-2010-05-08 (Industrial Competition)
- NEP-CSE-2010-05-08 (Economics of Strategic Management)
- NEP-EUR-2010-05-08 (Microeconomic European Issues)
- NEP-IND-2010-05-08 (Industrial Organization)
- NEP-INO-2010-05-08 (Innovation)
- NEP-IPR-2010-05-08 (Intellectual Property Rights)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sandro Mendonça & Tiago Santos Pereira & Manuel Mira Godinho, 2004.
"Trademarks as an Indicator of Innovation and Industrial Change,"
LEM Papers Series
2004/15, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Mendonca, Sandro & Pereira, Tiago Santos & Godinho, Manuel Mira, 2004. "Trademarks as an indicator of innovation and industrial change," Research Policy, Elsevier, vol. 33(9), pages 1385-1404, November.
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