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Mergers and Alliances in Pharmaceuticals: Effects on Innovation and R&D Productivity

In: The Economics of Corporate Governance and Mergers

Author

Listed:
  • Henry Grabowski
  • Margaret Kyle

Abstract

This book provides an insightful view of major issues in the economics of corporate governance (CG) and mergers. It presents a systematic update on the developments in the two fields during the last decade, as well as highlighting the neglected topics in CG research, such as the role of boards, CG and public interest and the relation of CG to mergers. Two important conclusions can be drawn from this book: the first is that corporate governance systems that better align shareholders’ and managers’ interests lead to better corporate performance; second, there is an important relationship between CG structures and the quality of firm decision-making, one of the most important being the decision to merge or take over another firm.

Suggested Citation

  • Henry Grabowski & Margaret Kyle, 2008. "Mergers and Alliances in Pharmaceuticals: Effects on Innovation and R&D Productivity," Chapters, in: Klaus Gugler & B. Burcin Yurtoglu (ed.), The Economics of Corporate Governance and Mergers, chapter 11, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:13007_11
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    File URL: https://www.elgaronline.com/view/9781847207159.00016.xml
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    Citations

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    Cited by:

    1. Tannista Banerjee & Arnab Nayak, 2015. "Comparing Domestic and Cross-Border Mergers and Acquisitions in the Pharmaceutical Industry," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 43(4), pages 489-499, December.
    2. Haucap, Justus & Rasch, Alexander & Stiebale, Joel, 2019. "How mergers affect innovation: Theory and evidence," International Journal of Industrial Organization, Elsevier, vol. 63(C), pages 283-325.
    3. O'Connell, Vincent & Lee, Jong-Ho & O'Sullivan, Don, 2018. "The influence of CEO equity incentives on licensing," European Management Journal, Elsevier, vol. 36(2), pages 266-277.

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