Synopsis of theories of the firm and valuation methods
Abstract:
This chapter examines some of the more pertinent theories of the firm and relates them to the biopharmaceutical market. It examines both the purpose of the firm and the determinants of the scope and scale of the firm. It also introduces some of the more useful financial valuation methods for biopharmaceutical products.
Key words
corporate control
industrial organization economics
resource-based view of the firm
innovation and entrepreneurship
net present value
risk-adjusted net present value
real option
2.1 Introduction
As the U.S. National Research Council of the National Academies reminds us, ‘biologists use a theoretical and conceptual framework to inform the entire scientific ...
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