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Revisiting the Relationship Between Price Regulation and Pharmaceutical R&D Investment
No full textBackground
A trade-off exists between affordability of pharmaceutical products today and incentives for firms to provide new and better drugs in the future; an activity that prior studies suggest correlates with profitability, which in turn depends on price regulation.
Objective
In this paper we re-examined the relationship between price regulation and pharmaceutical research and development (R&D) intensity, and explored the role of profitability and cash flow in mediating this relation using the latest available data from 2000 to 2017 for the 10 most innovative pharmaceutical companies.
Methods
Following a framework similar to a previous study, we exploited stylized facts about sales volumes in Europe and USA, which give rise to variation in exposure to price regulation. Using ordinary least squares fixed effects models, we assess whether price regulation is related to R&D investment through cash flow effects and profitability.
Results
While exposure to price regulation (measured by relative market share in EU/USA) is related negatively to R&D intensity, and this result is driven by price regulation being negatively related to cash flow and profitability, the results were not significant when firm fixed effects were added to the regression models. Modeling firm dynamics showed that cash flow and profitability of European- and US-based firms responded differently to exposure to price regulation. Thus, firm specific effects play an important role in explaining the negative relationship between price regulation and R&D intensity. These results were robust to the inclusion of different time-varying firm level variables.
Conclusion
The findings suggest that investment decisions of firms are most likely driven by long-run inter-firm differences, and that firm effects strongly determine firm strategies in terms of R&D investment
Book Review: Samuel F. Mansell Capitalism, Corporations and the Social Contract: A Critique of Stakeholder Theory
No full textBuilding India’s Global Health Strategy: Beyond the Role of ‘Pharmacist of the World’
No full textAs the Covid-19 pandemic began to unfold in February, India’s dependence on Chinese inputs for the production of pharmaceutical products was debated intensely. This special report argues that the narrow discussion has fallen short in capturing India’s crucial role in global health as a provider of health-related goods to many developing countries. The report analyses trade data on over 200 categories of health-related goods, and provides quantitative evidence for the extent of many countries’ health-related import dependence on India. Given this de facto position of India, this report concludes that the current health crisis calls for a comprehensive Indian global health strategy that will allow the country to expand on the existing multilateral system
How the Far-Right Polarises Twitter: 'Highjacking' Hashtags in Times of COVID-19
No full textTwitter influences political debates. Phenomena like fake news and hate speech show that political discourse on micro-blogging can become strongly polarised by algorithmic enforcement of selective perception. Some political actors actively employ strategies to facilitate polarisation on Twitter, as past contributions show, via strategies of 'hashjacking'. For the example of COVID-19 related hashtags and their retweet networks, we examine the case of partisan accounts of the German far-right party Alternative für Deutschland (AfD) and their potential use of 'hashjacking' in May 2020. Our findings indicate that polarisation of political party hashtags has not changed significantly in the last two years. We see that right-wing partisans are actively and effectively polarising the discourse by 'hashjacking' COVID-19 related hashtags, like #CoronaVirusDE or #FlattenTheCurve. This polarisation strategy is dominated by the activity of a limited set of heavy users. The results underline the necessity to understand the dynamics of discourse polarisation, as an active political communication strategy of the far-right, by only a handful of very active accounts
Economic and fiscal policy coordination after the crisis: is the European Semester promoting more or less state intervention?
No full textThe European Union (EU) – and its Economic and Monetary Union (EMU) in particular – is often criticized as a predominantly market-oriented project. We analyse to what extent such claims can be substantiated by focusing on one key aspect of the EU’s post-crisis framework for economic governance: the country-specific recommendations (CSRs) that the EU has been issuing annually since 2011. Based on an original dataset, we analyse more than 1300 CSRs, which show that the EU does not push uniformly for less state intervention. Rather, the CSRs tend to suggest fiscal restraint and less protection for labour market insiders, while simultaneously promoting measures that benefit vulnerable groups in society. During the second decade of EMU, CSRs have gradually become more permissive of higher public spending and more in favour of worker protection, while the share of recommendations advocating more social protection has stagnated at a high level
Social Innovation: Specifying Pathways for Impact
No full textOutlining both historical foundations and the latest research trends, this Research Handbook offers a unique and cutting-edge overview of the numerous avenues to responsible management.
Opening with a conceptual mapping of the field, thought leaders such as Henry Mintzberg and Archie Carroll present foundational and controversial views. Frameworks such as sustainability management, responsible leadership, humanistic and biomimetic management are introduced. Glocal approaches include responsible management with Chinese characteristics, West African Yoruba, and American Pragmatism. Exploring frameworks for the responsible management process, such as theories of practice, and for responsible management learning and innovation, readers are introduced to key methods responsible management research, such as participatory action research.
Groundbreaking in scope and depth, this Handbook caters to the responsible management research community, particularly to the Academy of Management and to United Nations PRME signatory business schools. Policymakers and practitioners will benefit from its insight into the latest advances in responsible management research
European self-making and India's alternative modernities
No full textThis chapter explores the deep role of what the author calls ‘trajectorism’ in European thought, the tendency to always see its history as some sort of predetermined journey to a desirable destination. Trajectorism is a deeper epistemological and ontological habit that always assumes there is a cumulative journey from here to there, or more exactly from now to then, in human affairs. The chapter argues that trajectorism is the great narrative trap of the west and is also, like all great myths, the secret of its successes in industry, empire and world conquest. One must recognize that contrary to the dominant meta-narrative of western modernity, it is not itself a cumulative, predictable or inevitable outcome of any discernable history. This meta-narrative is itself an expression of a trajectorist ideology, which tends to see Europe itself as a logical outcome of ideas that led from one phase or idea to the next, in some sort of destined manner. The chapter uses this point of view to propose a new angle on the deep contradiction between the ethical goals of the Enlightenment (including its central emphasis on the universality of human reason) and its imperial project, which required the enslavement and exploitation of much of the non-European world
Political Limits of International Human Rights
No full textWhat are the limits of human rights, and what do these limits mean? This volume engages critically and constructively with this question to provide a distinct contribution to the contemporary discussion on human rights. Fassbender and Traisbach, along with a group of leading experts in the field, examine the issue from multiple disciplinary perspectives, analysing the limits of our current discourse of human rights. It does so in an original way, and without attempting to deconstruct, or deny, human rights.
Each contribution is supplemented by an engaging comment which furthers this important discussion. This combination of perspectives paves the way for further thought for scholars, practitioners, students, and the wider public. Ultimately, this volume provides an exceptionally rich spectrum of viewpoints and arguments across disciplines to offer fresh insights into human rights and its limitations