A dissertation submited for ms.c health economics

Abstract

Abstract Background: Research and development activities are the main sources of knowledge changes. And it is technology. In this regard, the importance of research and development of the pharmaceutical industry in improving the quality of human life and the special features of the cost structure of pharmaceutical companies, the regulation of this industry has become essential. Methods: Selected pharmaceutical companies listed on the Iran Stock Exchange were selected as the target population of the study, from which 16 companies whose information was available during the years 2003-2020 were selected. The required information was extracted from the annual financial statements in the Codal system and the data were analyzed using STATA software. Tobin's Q indices and confirmatory factor analysis and ARDL regression were also used in the present study. Results: Small companies with an average of 2.2 have higher Tobin’s q than medium companies with an average of 1.84 and large companies with an index of 1.24. In addition. Also, the highest intensity of research and development for the years 81-98 is 0.5152% and the lowest is 0.051. The lowest value for this index during the years 98-81 was zero and the maximum was 2.1%. Finally, according to the results, the short-term effect of uninterrupted governance on R&D is somewhat effective. Conclusion: Examining the variables affecting corporate governance showed that there is no significant effect on this index, and since most companies are owned by the government, if there is a need to change part of the companies' policies, the best solution is convincing. It is up to the government to change these policies. Also, no significant relationship was found between corporate value and research and development intensity, but there was a positive and significant relationship with corporate value logarithm. Therefore, in order to increase the value of the company, it is very important to pay attention to the category of research and development.