Skip to Main content Skip to Navigation
New interface
Journal articles

Do Science and Money Go Together? The Case of the French Biotech Industry

Abstract : Developing technological applications, entering exploitation alliances, and choosing between a research- or service-focused strategic orientation are decisions that high-tech firms must manage concurrently. This paper explores systematically the contrasting effects of these strategic determinants on rent-generation and rent-appropriation using the entire population of French biotech firms (1994-2002). Findings indicate that science and money do not go unconditionally together - the direct relationship between rent-accruing resources (e.g., patents or articles) and rent appropriation varies depending on the type of resources and the strategic orientation. Moreover, the effects of strategic determinants differ for rent-generation vs. rent-appropriation: 1) technological application diversity undermines a firm's capacity to appropriate rents - in particular for research-oriented firms; 2) exploitation alliances favor rent generation but hinder rent appropriation; 3) service-oriented firms exhibit significantly better performance than research-oriented firms. Such evidence challenges the emergence in the biotechnology industry of a 'one-best' strategic trajectory, as represented by research-intensive start-ups funded by private money engaged in publishing and patenting races.
Complete list of metadata

Cited literature [54 references]  Display  Hide  Download
Contributor : Magali Michel Connect in order to contact the contributor
Submitted on : Thursday, October 8, 2009 - 10:41:27 AM
Last modification on : Friday, August 5, 2022 - 2:34:23 PM
Long-term archiving on: : Tuesday, June 15, 2010 - 9:48:57 PM


Files produced by the author(s)




Rodolphe Durand, Olga Bruyaka, Vincent Mangematin. Do Science and Money Go Together? The Case of the French Biotech Industry. Strategic Management Journal, 2008, 29 (12), pp.1281-1299. ⟨10.1002/smj.707⟩. ⟨hal-00422650⟩



Record views


Files downloads