The impact of market forces on the sustainability of the biotechnology industry

Hine, D. C. and Griffiths, A. B. (2004) The impact of market forces on the sustainability of the biotechnology industry. International Journal of Entrepreneurship and Innovation Management, 4 2/3: 138-149. doi:10.1504/IJEIM.2004.004721

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Author Hine, D. C.
Griffiths, A. B.
Title The impact of market forces on the sustainability of the biotechnology industry
Journal name International Journal of Entrepreneurship and Innovation Management   Check publisher's open access policy
ISSN 1368-275X
Publication date 2004-01-01
Sub-type Article (original research)
DOI 10.1504/IJEIM.2004.004721
Open Access Status File (Author Post-print)
Volume 4
Issue 2/3
Start page 138
End page 149
Total pages 12
Editor Dr M. A. Dorgham
Place of publication UK
Publisher Inderscience
Language eng
Subject C1
350211 Innovation and Technology Management
720403 Management
Abstract his paper contains a warning for investors, executives, analysts and scientists about the sustainability of the biotechnology industry. The study upon which the paper is based examines the impact of market forces on the biotechnology industry and argues that the short-term focus of market driven policies and practices impacts on the sustainability of firms operating in the industry. The market is represented by the National Association of Securities Dealers, Automated Quotations Market (NASDAQ), considered to be one of the vehicles of the promotion of ''new economy'' companies and principles. Through the application of bibliometric data (using both refereed and non-refereed papers), matched with the long term tracking of the NASDAQ Biotechnology Index, the authors provide a clear indication that the short-term investment thinking is leading an industry that is characterised by long R&D cycles. There is an incompatibility between the shorter-term investment considerations and the long-term scientific developments the biotechnology industry is attempting to achieve. Graphs and illustrations are provided to portray the comparative data.
Keyword biotechnology
ICT
fads
sustainability
market forces
Q-Index Code C1

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
2005 Higher Education Research Data Collection
UQ Business School Publications
 
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Created: Wed, 15 Aug 2007, 13:21:14 EST