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Competitiveness, Profitability and R/D Intensity: The Case of the Domestic Pharmaceutical Industry in Greece

In: Business Performance and Financial Institutions in Europe

Author

Listed:
  • Vasiliki Kounnou

    (University of Macedonia)

  • Dimitrios Kyrkilis

    (University of Macedonia)

Abstract

Greek pharmaceutical industry has been emerged as one of the major drivers for the Greek manufacturing sector mostly from 2000 until 2011. The value-added of the industry in the overall economy is indicated through its impact on the gross value-added production, employment, exports, innovation and global competiveness. Greek pharmaceuticals firms have one of the highest shares of investment in innovation and R&D activities in the total Greek economy. The purpose of this study is to investigate the potential causal relationship between industry-level competitiveness, profitability and R/D intensity. Specific financial ratios have been selected for the regression analysis using a sample of Greek pharmaceutical firms with in-house Research and Development department. The period of the analysis has been defined between 2004 and 2015. According to the existing literature, it is expected that R/D intensity plays a significant role on the profitability for pharmaceutical firms.

Suggested Citation

  • Vasiliki Kounnou & Dimitrios Kyrkilis, 2020. "Competitiveness, Profitability and R/D Intensity: The Case of the Domestic Pharmaceutical Industry in Greece," Contributions to Economics, in: Alexandra Horobet & Persefoni Polychronidou & Anastasios Karasavvoglou (ed.), Business Performance and Financial Institutions in Europe, pages 47-55, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-57517-5_3
    DOI: 10.1007/978-3-030-57517-5_3
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    Cited by:

    1. Ioannis E. Tsolas, 2021. "Firm Credit Scoring: A Series Two-Stage DEA Bootstrapped Approach," JRFM, MDPI, vol. 14(5), pages 1-12, May.

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