Knowledge Diversity and Technological Innovation through M&A in the pharmaceutical industry
- Shibayama, S., et al. (2008) Effect of Mergers and Acquisitions on Drug Discovery: Perspective from a Case Study of a Japanese Pharmaceutical Company. Drug Discovery Today, 13(1-2), 86-93. [doi] (won Denmark Research Unit for Industrial Dynamics (DRUID) Conference Best Young Scholar Paper Award)
- Shibayama, S., et al. (2011) New Perspective for the Management of M&A Process: a Merger Case of a Japanese Pharmaceutical Company. Corporate Governance, 11(1), 77-89. [doi]
In the management of corporate research, expertise diversity has been gaining greater attention as a consequence of the accelerating complexity of technological problems and the increasing subdivisions of scientific disciplines (e.g., Keller 2001; Van Der Vegt and Bunderson 2005). Corporate research constitutes a fundamental part of the capabilities of firms (Rosenberg 1990), where basic technologies from diverse areas of expertise are applied for practical purposes. To reinforce the capabilities, research-intensive firms have adopted various measures to enrich and make best use of expertise diversity, such as introducing a matrix organizational structure and cross-functional projects (Aldridge and Swamidass 1996). Management literature has also extensively studied diversity management in various organizational settings and suggested that diverse expertise encourages information processing, facilitates creative ideas, and improves performance (e.g., Ancona and Caldwell 1992; Van Der Vegt and Bunderson 2005). Nevertheless, the management of diversity is no easy task in practice, and there still remain some limitations in diversity management theory for the management of corporate research.
- Survey data of 300 corporate researchers engaged in the early stage of pharmaceutical research.
- Coupled with patent data retrieved from ISI Derwent Innovation Index.
Trend of M&A transactions