Hu, Yansong, McNamara, Niall P. and McLoughlin, Damien (2011) From Invention to Innovation: Technology Licensing by New Ventures in the Biopharmaceutical Industry. In: 2011 33rd Annual INFORMS Marketing Science Conference , Houston, TX, June 9-11 2011. Published in: Proceedings of the 2011 33rd Annual INFORMS Marketing Science Conference p. 76.

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Abstract

Licensing out technologies is a major source of revenue for new technology ventures. While technology licensing is economically important and poses unique challenges, it has yet received little attention in past marketing literature. We analyze how alliances with established firms, structural positions within scientific research, patent and commercial networks, and the nature of technology portfolios (i.e., radical and incremental innovations) of new ventures influence the number of successful licensing deals secured by the new ventures. We draw on theories of structure and legitimacy of new ventures to conjecture how the number and nature of alliances, centrality positions within scientific research, patent and commercial networks, and the composition of technology portfolios can affect a new venture’s number of licensing deals, and how these effects may vary over time. We study these key issues by examining all public firms in the UK biopharmaceutical industry from 1989 to 2009. Because we observe overdispersion in the data, we specify a negative binomial model to investigate the conjectured effects as drivers of successful deals, and provide a sharper understanding of the relations between the collaboration and co-creating with innovation communities, structural positions within innovation networks, the trade-off between radical and incremental innovation portfolios, and time of the specific innovation

Item Type:	Conference Item (Paper)
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions:	Faculty of Social Sciences > Warwick Business School > Marketing & Strategic Management Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	Proceedings of the 2011 33rd Annual INFORMS Marketing Science Conference
Publisher:	Jones Graduate school of Business
Date:	2011
Page Range:	p. 76
Status:	Not Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
Conference Paper Type:	Paper
Title of Event:	2011 33rd Annual INFORMS Marketing Science Conference
Type of Event:	Conference
Location of Event:	Houston, TX
Date(s) of Event:	June 9-11 2011
URI:	http://wrap.warwick.ac.uk/id/eprint/43801

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