| dc.description.abstract | Recently scholars have started studying the locus of value creation outside the firm and how
various ecosystem partners and stakeholders impact firms and markets. We expand this
research agenda in the context of the Indian pharmaceutical industry by studying the
interdependence between science, the entertainment sector, and finally, between firms and
physicians for value creation.
In the first essay, we study the scientific community's role as a complement and how science
impacts the market structure and explore the heterogeneity in response to the 2010 NDM-1
crisis in antibiotic market in the Indian pharmaceutical industry using difference in difference
estimation. This study expands the role of ecosystem participants by bringing in the importance
of the scientific community and its interaction with the liability of foreignness.
In the second essay, we explore the concept of edutainment and how the entertainment industry,
through information provisioning, can help remove the stigma and lead to demand expansion
and supply-side response. We explore the information providing and destigmatization role of
celebrity endorsement through the study of the movie My Name is Khan and its impact on the
antipsychotic drug market and how firms respond to these shocks by increasing the product
differentiation to aid market expansion.
Finally, in the third essay, we look at the complementarity between firms as a locus of value
creation. We explore the role of risk and how it shapes firm strategies in the ecosystem. Using
unique co-prescription data in the Indian pharmaceutical ecosystem, we examine the
determinants of complementarity between firms and their impact on the firm’s value.
Overall, our research documents the role of various ecosystem actors in value creation. We
attempt to open up the black box of the industry ecosystem and, at the same time, how different
actors interact with each other in the context of the Indian pharmaceutical industry | en_US |
