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R&D Expenditures and Market Value of Biotechnology Firms

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  • Chojnacki, Piotr
  • Kijek, Tomasz

Abstract

The aim of this paper is to conduct an analysis of R&D investments and their impact on a biotechnology firm’s value. The sample consists of the top 52 R&D investors from the European biotechnology sector. The data were obtained from “EU Industrial R&D Investment Scoreboard”. The multiple linear regression was applied to find the answer to the research question. The main findings of the study reveal that there is a positive relationship between the firm’s investment in R&D and the market value.

Suggested Citation

  • Chojnacki, Piotr & Kijek, Tomasz, 2014. "R&D Expenditures and Market Value of Biotechnology Firms," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2014(6).
    • Handle: RePEc:ags:paaero:205355
    DOI: 10.22004/ag.econ.205355
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    References listed on IDEAS

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