Oehmke, James F.; Wolf, Christopher A.; Weatherspoon, … - Department of Agricultural, Food and Resource … - 1999
Several characteristics of biotech industry structure follow cyclical patterns. Mergers and acquisitions activity shows cyclical behavior, with peaks from 1988-92 and 1996-97 and a valley from 1993-95. The ratio of large-firm to small-firm field trials, and the Herfindahl-Hirshmann concentration...