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US market entry by Spanish pharmaceutical firms

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  • Fabrizio Cesaroni

    ()

  • Marco S. Giarratana

    ()

  • Ester Martínez-Ros

    ()

Abstract

This 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 Info

Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we101103.

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Date of creation: Feb 2010
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Handle: RePEc:cte:werepe:we101103

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Related research

Keywords: Foreign market entry; Internationalization strategies; Firm-Specific advantages; Competitive advantage; Innovation and R&D; Patents; Trademarks;

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  1. 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.
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