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dc.contributor.authorHiggins, Matthew J.
dc.contributor.authorRodriguez, Daniel
dc.date.accessioned2006-06-22T19:25:50Z
dc.date.available2006-06-22T19:25:50Z
dc.date.issued2005-02-27
dc.identifier.urihttp://hdl.handle.net/1853/10736
dc.description.abstractWe examine the performance of 160 pharmaceutical acquisitions from 1994-2001 and find evidence that on average acquirers realize significant positive returns. These returns are positively correlated with prior acquirer access to information about the research and development activities at target firms and a superior negotiating position. A unique Desperation Index is employed in order to determine the current status of a firm’s internal productivity. We find that firms experiencing declines in internal productivity or which are more desperate are more likely to engage in an outsourcing type acquisition in an effort to replenish their research pipelines.en
dc.format.extent273660 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen
dc.publisherGeorgia Institute of Technologyen
dc.subjectAquisitionsen
dc.subjectAsymmetric Informationen
dc.subjectWinner's curseen
dc.subjectPharmaceutical Industryen
dc.titleThe Outsourcing of R&D through Acquisitions in the Pharmaceutical Industryen
dc.typeWorking Paperen
dc.contributor.corporatenameGeorgia Institute of Technology. TI:GERen_US


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