Tomovic, Andrija; Atukeren, Erdal - In: International Journal of Sustainable Economy 4 (2012) 4, pp. 370-389
We investigate the drivers of value creation in big pharmaceutical firms. We use a unique dataset of a total of 2,200 news items on research and development (R%D) progress announcements and dividend news of 25 largest pharmaceutical companies for the period 1998-2010. Our findings affirm the...