Competition and Productivity in Japanese Manufacturing Industries

This paper examines the determinants of productivity in Japanese manufacturing industries, looking particularly at the impact of product market competition on productivity. Using a newly available panel data on around ten thousand firms in Japanese manufacturing for the years 1994-2000, I show that competition, as measured by lower level of industrial price-cost margin, enhances productivity growth, controlling for a broad range of industrial and firm-specific characteristics. Moreover, I suggest that market power, as measured by either individual firm%u2019s price-cost margin or market share, has negative impact on productivity level of R&D performing firms.

R&D Portfolios and Pharmaceutical Licensing

We examine how R&D portfolios of drug pipelines affect pharmaceutical licensing, controlling firm size, diversity, and competitors in R&D and product markets. The data collected comprises 329 license-outs and 434 license-ins closed by 54 Japanese pharmaceutical companies between 1997 and 2007. We pay special attention to stage-specific licensing by dividing the innovation process into an early stage and a late stage. Estimates from the fixed-effect GMM model reveal that drug pipelines significantly affect stage-specific licensing. Particularly, the state of drug pipelines is leveled off by license-outs at the early stage and license-ins at the late stage. Theoretical implications are also discussed.R&D portfolios, licensing, pharmaceutical industry, drug pipelines

Measuring Anomalous Couplings in H->WW* Decays at the International Linear Collider

Measurement of the Higgs coupling to W-bosons is an important test of our understanding of the electroweak symmetry breaking mechanism. We study the sensitivity of the International Linear Collider (ILC) to the presence of anomalous HW+W- couplings using ZH -> nu nu WW* -> nu nu 4j events. Using an effective Lagrangian approach, we calculate the differential decay rates of the Higgs boson including the effects of new dimension-5 operators. We present a Monte Carlo simulation of events at the ILC, using a full detector simulation based on geant4 and a real event reconstruction chain. Expected constraints on the anomalous couplings are given.Comment: 18 pages, 7 figures, 1 tabl