|
KMID : 1170320100160020101
|
|
Korean Journal of Health Economics and Policy
2010 Volume.16 No. 2 p.101 ~ p.123
|
|
|
The Determinants of Pharmaceutical Firm’s Research and Development Expenditures : Evidence from Korea
|
|
Kim Dong-Hwan
Song Hyun-Jong
Jang Sun-Mee
|
|
|
Abstract
|
|
|
|
The purpose of this study was to analyze the determinants of pharmaceutical firm’s R&D investment expenditures in the Korean pharmaceutical industry. We analyzed 3 years’ panel data(2006-2008) of 38 pharmaceutical firms listed on KOSPI and 42 on KOSDAQ using database in DART of Financial Supervisory Service, the Annual Report of Pharmaceutical R&D, and the drug claims data of Health Insurance Review & Assessment Service. For companies listed on KOSPI, experience success development of new drug, cash flow in t-1 year, t year external funding, and cumulative R&D investment were positive effect on t year R&D investment. For companies listed on KOSDAQ, t year external funding was positive effect on t year R&D investment.
|
|
|
KEYWORD
|
|
|
Pharmaceutical Industry, R&D investment, Pharmaceutical firm
|
|
|
FullTexts / Linksout information
|
|
|
|
|
|
Listed journal information
|
|
|