AN EMPIRICAL ANALYSIS OF SUSTAINED ADVANTAGE IN THE U.S. PHARMACEUTICAL INDUSTRY: IMPACT OF FIRM RESOURCES AND CAPABILITIES

摘要

The authors test a model of the relationships among firm resources, firm capabilities, and sustained competitive advantage between 1971 and 1989. Sustained comparative advantage was captured by two variables: therapeutic differentiation and global NCEs. The results show that RD and salesforce expenditures have indirect and direct effects, respectively, on sustained competitve advnatage. Firm capabilties were differentiated into component and integrative capabilities. Component capabilities were captured by the firm's internal R&D efforts and therapeutic market focus, while integrative capabilities were concerned with the firm's ability to obtain FDA approvals and to develop radical new drugs.