Biowebspin, May 22th, 2017
Do licensors learn from out-licensing? Empirical evidence from the pharmaceutical industry.
by M Rabijns, B Leten, S Kelchtermans, M Riccaboni, 2016
While the financial performance effects of licensing to the licensor have been covered extensively in prior literature, little attention has been paid so far to the possible learning effects of out-licensing. This paper aims to fill that gap by looking at wheter – subsequent to an ou-licensing deal – licensors are more likely to cite work from their licensing partner, wich we see as a proxy for learning from the licensing deal. To answer this question, wes analyze a cross-sectionnal licensing dataset in the pharmaceutical industry between 1995 and 2003. Preliminary results show evidence of learning by licensors from licensees, measured by patent citations after the licensing deal. The findings further our understanding of markets for technology and, in particular, attenuate the trade-off faced by licensors.
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