R&D Expenditures and Market Value of Biotechnology Firms
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The aim of this paper is to conduct an analysis of R&D investments and their impact on a biotechnology
firm’s value. The sample consists of the top 52 R&D investors from the European biotechnology sector.
The data were obtained from “EU Industrial R&D Investment Scoreboard”. The multiple linear regression
was applied to find the answer to the research question. The main findings of the study reveal that there is a
positive relationship between the firm’s investment in R&D and the market value.