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Coherence Of The Knowledge Base And The Firm'S Innovative Performance: Evidence From The U.S. Pharmaceutical Industry

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  • Lionel Nesta
  • Pier Paolo Saviotti

Abstract

We examine the relationship between the coherence of the knowledge base and the innovative performance of U.S. pharmaceutical firms during the 1990's. We develop measures of the coherence and scope of the firms' knowledge base. Count data regression models show a strong link between these two properties and the firms' innovative performance. Firms experience decreasing returns to scale in research but larger firms enjoy a significant size advantage in innovation. Knowledge flows are necessary in knowledge production but not sufficient to secure its quality. Over time, the contribution of the scope and coherence of the knowledge base is increasing.

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  • Lionel Nesta & Pier Paolo Saviotti, 2005. "Coherence Of The Knowledge Base And The Firm'S Innovative Performance: Evidence From The U.S. Pharmaceutical Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 53(1), pages 123-142, March.
  • Handle: RePEc:bla:jindec:v:53:y:2005:i:1:p:123-142
    DOI: 10.1111/j.0022-1821.2005.00248.x
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    1. Bronwyn H. Hall & Adam B. Jaffe & Manuel Trajtenberg, 2000. "Market Value and Patent Citations: A First Look," NBER Working Papers 7741, National Bureau of Economic Research, Inc.
    2. Bronwyn H. Hall & Adam B. Jaffe & Manuel Trajtenberg, 2001. "The NBER Patent Citation Data File: Lessons, Insights and Methodological Tools," NBER Working Papers 8498, National Bureau of Economic Research, Inc.
    3. Scott,John T., 2005. "Purposive Diversification and Economic Performance," Cambridge Books, Cambridge University Press, number 9780521022583, March.
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