G. Steven McMillan

An analysis of the critical role of public science in innovation: the case of biotechnology

Examines the link between public science and thebiotechnology industry in the United States. As knowledge plays an increasingrole in our innovation-based economy, firms at the forefront of industry mustexploit their absorptive capacity, defined as the ability to recognize newinformation, assimilate it, and apply it commercially. The most importantsource of external knowledge centers on public science, which is scientificresearch performed in and supported by governmental, academic and charitableresearch institutions. Previous studies have found that biotechnology, as a relevantly recent industrycomposed of mainly small, innovative firms, plays an important role intransferring knowledge from the university to the marketplace. In an effort toexamine this link more closely, this study focuses on scientific citations,funding sources and countries of origin, and a comparative analysis ofdedicated biotechnology firms and large pharmaceutical companies in theirlinkages to public science. Using the IPO prospectuses of U.S. biotechnologycompanies that were public traded as of 1993, 119 firms were identified. AllU.S. patents they acquired from the date they went public through 1997 wereidentified. Analysis of this patent data shows that the biotechnology industry relies moreheavily on publicly funded science than do other industries, including largepharmaceutical companies, though mostly for basic as opposed to appliedresearch purposes. The National Cancer Institute and National Institute ofGeneral Medical Sciences were identified as the two largest funding sources.Examination of the scientific papers listed in these industry-held patentsfound that the majority of citations emanate from U.S.-based authors at publicresearch institutions. Concludes that as biotechnology continues to develop andrevolutionize many fields of industry, continued public support of basicresearch will give the U.S. a strategic advantage economically. (CJC)

Using Bibliometrics to Measure Firm Knowledge: An Analysis of the US Pharmaceutical Industry

A recent literature review highlighted the knowledge-based view as an important current theory in the strategic management area. The current paper utilizes that theory as the context for employing bibliometrics to uncover the publishing and patenting citation patterns in a group of twelve US pharmaceutical companies over a 13-year period. Our initial findings suggest that firms self-cite a great deal, and that they rely heavily on public science. In addition, we found that Merck and Co. is the most frequently cited company in both the science and technology areas, though somewhat less so in technology. The managerial implications, particularly from a knowledge perspective, are discussed as well as some suggestions for future research.

Mapping the Invisible Colleges of R&D Management

R&D Management has consistently been considered one of the top technology and innovation management journals since its inaugural issue in 1970. The purpose of this paper is to use bibliometric techniques to examine R&D Management in four time periods, 1986-1990, 1991-1995, 1996-2000, and 2001-2005 in order to reveal changes in its intellectual base. Bibliometric research has illuminated the knowledge domains of several technology and innovation management journals including R&D Management Linton and Thongpapanl, but there has not previously been a comprehensive detailed analysis focused only on R&D Management. Using co-citation analysis, this paper identifies the invisible colleges (research networks) associated with publications in R&D Management. The results indicate that Cohen and Levinthals absorptive capacity model dominates the final two periods. The conclusions suggest how the absorptive capacity model might be more effectively utilized in future R&D Management research.

Using Science and Technology Indicators to Manage R&D as a Business

Abstract The purpose of this article is to develop a method to predict future stock market performance of a company, using its technological quality as measured by its patent portfolio. This is accomplished by using a series of science and technology indicators developed from a unique patent database. Several studies have examined the relationship between various research and development (R&D) metrics and different measures of economic performance, yet few have explored this relationship using market-based measures of performance. Our findings show that an investment model based solely on this group of R&D metrics does substantially better than the Standard and Poors (S&P) 500 Index.

Firm management of scientific information: Some predictors and implications of openness versus secrecy

This paper presents a model that seeks to understand and explain R&D performance differences in research-intensive companies. The primary theoretical model builds on the well-established theory of science as a public good but augments it with a game-theoretic argument for individual firm choices of scientific information openness or secrecy. The first research question we address is how a firms scientific information openness, as measured by its research publications, impacts the firms stock of technical knowledge. Additionally, we explore two predictor variables of scientific information openness: research lab and top management team demographics. The possible economic effects and other managerial implications of this model are also discussed.

Identifying the “Invisible Colleges” of the Industrial & Labor Relations Review: A Bibliometric Approach

Since its inaugural issue in 1947, the Industrial and Labor Relations Review (ILRR) has been considered among the foremost industrial relations journals. Prominent among subjects treated by ILRRs articles in the journals early years were collective bargaining and industrial strife, but the subject mix has changed greatly with the times. This paper employs bibliometric techniques to compare ILRRs intellectual bases across three recent periods: 1974–1984, 1985–1995, and 1996–2006. Using co-citation and network analyses, the authors identify the “invisible colleges”—research networks that refer to each other in their publications—of ILRR Economics-oriented journals were heavily cited by ILRR authors across the entire 33-year observation period, but there is evidence that another field, human resource management, was of growing importance in the most recent years.

Research Note: Identifying the Invisible Colleges of the "British Journal of Industrial Relations": A Bibliometric and Social Network Approach

The academic field of industrial relations has gone through much change in the last 20 years. On account of the rapid decline in union membership in the USA and the UK, industrial relations, which historically has focused on the employment relationship, has been searching for a new intellectual base. By conducting a bibliometric analysis of the journal British Journal of Industrial Relations (BJIR), we uncover the intellectual bases for that publication outlet for two time periods, 1986–1995 and 1996–2005. From the late 1980s to the mid‐1990s, BJIRs articles relied on the economics literature, while in the later period, it moved to the human resource and management journals, authors and articles. The possible explanations and implications of these findings are discussed.

THE INFLUENCE OF TECHNOLOGY ON STRATEGIC ALLIANCES: AN APPLICATION OF THE UTTERBACK AND ABERNATHY MODEL OF PRODUCT AND PROCESS INNOVATION

This paper examines the influence of the innovation cycle on strategic alliances. Hypotheses based on Utterback and Abernathys model are tested using 86 strategic alliances. The statistical results support the influence of the innovation cycle, rather than technological intensity, on determining the structure and functional emphasis of strategic alliances.

Corporate social investments: Do they pay?

The stock market reaction to two very different corporate social investments (the 1977 Sullivan Principles adoption announcement and the 1990 McDonalds Corporation environmental statement) is explored. A market model event study methodology is employed using daily stock returns. The results are that the stock market appears to have ignored the 1977 announcement, but rewarded the 1990 event. Future research and possible managerial implications are discussed.

Gender differences in patenting activity: An examination of the US biotechnology industry

The gender gap in science and technology has received considerable attention by both researchers and policy makers. In an effort to better understand the quantity, quality, and underlying characteristics of female research efforts, I integrate three existing databases to uncover how female patenting activities differ from men’s in the US biotechnology industry. Data on how much science the patents build upon, the author institutions of that science, and who funded the papers in which the science appears are all examined. In addition, using the NBER Patent Citation Data Files, I propose a possible gender-based life cycle model for patenting activity. The policy implications of my findings are also discussed.