Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/26364
Title: First to market : Is technological innovation in new product development profitable in health care industries?
Authors: Xin, JY
Yeung, ACL 
Cheng, TCE 
Keywords: Event study
New product development
Technological innovation
Issue Date: 2010
Publisher: Elsevier
Source: International journal of production economics, 2010, v. 127, no. 1, p. 129-135 How to cite?
Journal: International journal of production economics 
Abstract: Do innovative products incorporated advanced technologies help firms improve operating performance? In this study we traced the operating performance of 168 publicly traded manufacturing firms in the USA that announced technologically innovative products in two major industries from the health care domain, namely pharmaceuticals and medical instruments. We employed the event-study methodology and collected objective financial data from Compustat. We found that technologically innovative products have a statistically significant positive effect on operating performance. The median abnormal increase in return-on-assets ranged from 2.20% to 7.07% over a four-year period. The median abnormal increase in return-on-sales ranged from 4.16% to 4.70% and the median abnormal increase in sales-over-assets ranged from 5.85% to 7.38%.
URI: http://hdl.handle.net/10397/26364
ISSN: 0925-5273
DOI: 10.1016/j.ijpe.2010.05.004
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