Strategy Changes as a Response to Alterations in Tax Policy
研究了1981年美国研发税收抵免政策实施后，制药企业如何调整研发强度（研发支出占销售额比例），发现企业显著提高了研发强度并努力维持相对地位，表明研发强度是行业重要战略维度。
This study examines how firms in the pharmaceutical industry responded to the R&D tax credit which was enacted in 1981. The change in research intensity (research/sales) subsequent to the tax change was estimated for the firms. An increase in research intensity was associated with the adoption of the tax credit. The strong response by the firms to the tax credit and the effort to maintain their relative position in research intensity indicate that research intensity is an important strategic dimension and driving force in the industry.