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首页> 外文期刊>International Journal of Technology Management: The Journal of the Technology Management of Technology, Engineering Management, Technology Policy and Strategy >What determines the outcome of licensing deals in market for technology? Empirical analysis of sellers and buyers in biotechnology alliances
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What determines the outcome of licensing deals in market for technology? Empirical analysis of sellers and buyers in biotechnology alliances

机译:什么决定了技术市场中许可交易的结果?生物技术联盟中买卖双方的实证分析

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摘要

This paper empirically investigates factors affecting the relative bargaining strength of sellers and buyers in biotechnology markets, using transaction-level data for alliances between 1993 and 2008. Specifically, a two-tier stochastic frontier model is applied to our dataset for estimating the advantage of sellers and buyers, separately, and the advantage difference between them is regressed on possible determinants, such as scope of technology, stage of pharmaceutical R&D process, previous experience forming technology alliances, seller and buyer characteristics, and financial market conditions at the time of agreement. The results show that buyers were greatly advantaged over sellers in many alliances. However, a seller's bargaining position tended to improve significantly after the clinical research phase, as did repeating transactions with previous partners. US sellers also enjoyed an advantage over non-US buyers.
机译:本文利用1993年至2008年之间联盟的交易级别数据,以经验方式调查了影响生物技术市场买卖双方相对议价能力的因素。具体而言,我们将两层随机前沿模型应用于我们的数据集,以评估卖方的优势买方和买方之间的优势差异取决于可能的决定因素,例如技术范围,药物研发过程的阶段,先前形成技术联盟的经验,买卖双方的特征以及协议时的金融市场状况。结果表明,在许多联盟中,买方比卖方具有更大的优势。但是,在临床研究阶段之后,卖方的议价状况往往会大大改善,就像与以前的合作伙伴重复交易一样。美国卖方也比非美国买方享有优势。

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