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16491542
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220317s2022||||enk o ||1 0|eng|d
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9781009278140 (ebook)
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9781009278164 (paperback)
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(UkCbUP)CR9781009278140
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16491542
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UkCbUP
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eng
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rda
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UkCbUP
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e-uk---
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HD9667.9.A78
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T85 2022
100
1
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Tulum, Öner,
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author.
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http://id.loc.gov/authorities/names/n2022064761
245
1
0
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From financialisation to innovation in UK Big Pharma :
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AstraZeneca and GlaxoSmithKline /
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Öner Tulum, Antonio Andreoni, William Lazonick.
264
1
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Cambridge :
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Cambridge University Press,
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2022.
300
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1 online resource (104 pages) :
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digital, PDF file(s).
336
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text
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txt
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rdacontent
337
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computer
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c
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rdamedia
338
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online resource
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cr
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rdacarrier
490
0
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Cambridge elements. Elements in reinventing capitalism,
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2634-8950
500
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Title from publisher's bibliographic system (viewed on 30 Nov 2022).
506
0
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Unrestricted online access.
520
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The tension between innovation and financialisation is central to the business corporation. Innovation entails a 'retain-and-reinvest' allocation regime that can form a foundation for stable and equitable economic growth. Driven by shareholder-value ideology, financialisation entails a shift to 'downsize-and-distribute'. This Element investigates this tension in global pharmaceuticals, focusing on the two leading UK companies AstraZeneca and GlaxoSmithKline. In the 2000s both adopted US-style governance, including stock buybacks and stock-based executive pay. Over the past decade, however, first AstraZeneca and then GlaxoSmithKline transitioned to innovation. Critical was the cessation of buybacks to refocus capabilities on investing in an innovative drugs pipeline. Enabling this shift were UK corporate-governance institutions that mitigated US-style shareholder-value maximisation. Reinventing capitalism for the sake of stable and equitable economic growth means eliminating value destruction caused by financialisation and supporting value creation through collective and cumulative innovation. This title is also available as Open Access on Cambridge Core.
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2
0
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AstraZeneca (Firm)
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Finance.
610
2
0
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GlaxoSmithKline
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Finance.
650
0
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Pharmaceutical industry
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Great Britain
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Finance.
650
0
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Biotechnology industry
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Great Britain
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Finance.
700
1
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Andreoni, Antonio,
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author.
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http://id.loc.gov/authorities/names/no2009114529
700
1
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Lazonick, William,
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author.
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http://id.loc.gov/authorities/names/n86143298
730
0
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Cambridge OA.
776
0
8
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Print version:
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9781009278164
852
8
0
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yulint
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None
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Online resource
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Open access
852
8
0
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Online resource
856
4
0
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Online book
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https://doi.org/10.1017/9781009278140
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0
901
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HD9667.9.A78
902
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Yale Internet Resource
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Yale Internet Resource >> None|DELIM|16401960
905
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online resource
907
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2022-12-15T11:36:25.000Z
946
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