Abstract

http://ssrn.com/abstract=1412424
 
 

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Growth and Profitability in Small Privately Held Biotech Firms: Preliminary Findings


Malin Brännback


Åbo Akademi University

Alan L. Carsrud


Florida International University (FIU)

Maija Renko


University of Illinois at Chicago

Ralf Östermark


School of Business and Economics - Åbo Akademi University

Jaana Aaltonen


Åbo Akademi University

Niklas Kiviluoto


Åbo Akademi University


New Biotechnology, Vol. 25, No. 5, pp. 369-376, June 2009
UIC College of Business Administration Research Paper No. 09-11

Abstract:     
This paper reports on preliminary findings on a study of the relationship of growth and profitability among small privately held Finnish Life Science firms. Previous research results concerning growth and profitability are mixed, ranging from strongly positive to a negative relationship. The conventional wisdom states that growth is a prerequisite for profitability. Our results suggest that the reverse is the case. A high profitability-low growth biotech firm is more probably to make the transition to high profitability-high growth than a firm that starts off with low profitability and high growth.

Number of Pages in PDF File: 21

Keywords: Biotechnology, profitability, growth, entrepreneurship

JEL Classification: M13

Accepted Paper Series


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Date posted: May 31, 2009  

Suggested Citation

Brännback, Malin and Carsrud, Alan L. and Renko, Maija and Östermark, Ralf and Aaltonen, Jaana and Kiviluoto, Niklas, Growth and Profitability in Small Privately Held Biotech Firms: Preliminary Findings. New Biotechnology, Vol. 25, No. 5, pp. 369-376, June 2009 ; UIC College of Business Administration Research Paper No. 09-11. Available at SSRN: http://ssrn.com/abstract=1412424

Contact Information

Malin Brännback (Contact Author)
Abo Akademi University ( email )
Piispankatu 16
Abo, Turku FIN-20500
Finland
Alan L. Carsrud
Florida International University (FIU) ( email )
University Park
11200 SW 8th Street
Miami, FL 33199
United States
Maija Renko
University of Illinois at Chicago ( email )
601 South Morgan Street
Chicago, IL 60607-7122
United States
Ralf Östermark
School of Business and Economics - Åbo Akademi University ( email )
Henriksgatan 7
Abo, Turku FIN-20500
Finland
Jaana Aaltonen
Abo Akademi University ( email )
Piispankatu 16
Abo, Turku FIN-20500
Finland
Niklas Kiviluoto
Abo Akademi University ( email )
Piispankatu 16
Abo, Turku FIN-20500
Finland
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