The role of firm characteristics in pharmaceutical product launches
分析1980年以来G7国家新药上市的决定因素，发现市场和企业特征及其相互作用影响进入决策，新药在总部所在国边境或语言相同的市场上市概率高1.5倍，且竞争效应取决于进入者与在位者的特征匹配。
I examine the determinants of new pharmaceutical launches since 1980 in G7 nations. Both market and firm characteristics, and their interaction, are important in explaining entry. New drugs are 1.5 times more likely to be launched in markets that share a border or a language of a drug company's country of headquarters. The effect of competition depends on the characteristics of both the potential entrant and incumbents: domestic entrants prefer to compete with domestic incumbents. Despite the potential for licensing and low transportation costs, the match between the innovating firm and market conditions remains an important determinant of entry.