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We are happy to announce that our team member Dr. Evangelos Syrigos presented in the Strategic Management Society 34th Annual International Conference 2014 in Madrid his work titled " Resource-Based and Demand-Side Drivers of Resource Value in Innovation Projects" coauthored by Professor Thomas Keil (Chair in International Management) and Konstantinos Kostopoulos (University of Piraeus).
In this paper, we refine and test recent arguments that resource value is a function of a resource’s ex ante standalone value, the presence of complementary resources, and demand-side factors using a dataset of all new patented molecules by the 38 largest pharmaceutical corporations in the US market during 1980-1990. We find a positive direct effect of standalone technological value of a new patented molecule on the likelihood to enter clinical trials. We further find that the level of demand and the firm’s position in the therapeutic class positively moderate the relationship between standalone technological value and the likelihood of entering clinical trials, whereas the scientific and technological strengths negatively moderate this relationship.
