On valuing biopharmaceutical product pipelines: an effectuation model and evidence

Journal of Innovation and Entrepreneurship

A Systems View Across Time and Space

Table 6 Bivariate correlations

		RnDExpense	RnDpercent	ValuePipeline	Sales	Income	MarketValue	PriceEarnings
RnD expense	Pearson correlation	1	−0.122	−0.641^a	0.940^a	0.837^a	0.165^b	−0.163^b
RnD expense	Sig. (2-tailed)		0.074	0.000	0.000	0.000	0.015	0.026
RnDpercent	Pearson correlation	−0.122	1	0.174^b	−0.135^b	−0.119	−0.068	0.144^b
RnDpercent	Sig. (2-tailed)	0.074		0.020	0.047	0.080	0.316	0.049
ValuePipeline	Pearson correlation	−0.641^a	0.174^b	1	−0.619^a	−0.674^a	0.239^a	0.245^a
ValuePipeline	Sig. (2-tailed)	0.000	0.020		0.000	0.000	0.001	0.001
Sales	Pearson correlation	0.940^a	−0.135^b	−0.619^a	1	0.888^a	0.203^a	−0.171^b
Sales	Sig. (2-tailed)	0.000	0.047	0.000		0.000	0.003	0.020
Income	Pearson correlation	0.837^a	−0.119	−0.674^a	0.888^a	1	0.200^a	−0.184^b
Income	Sig. (2-tailed)	0.000	0.080	0.000	0.000		0.003	0.012
MarketValue	Pearson correlation	0.165^b	−0.068	0.239^a	0.203^a	0.200^a	1	0.108
MarketValue	Sig. (2-tailed)	0.015	0.316	0.001	0.003	0.003		0.128
PriceEarnings	Pearson correlation	−0.163^b	0.144^b	0.245^a	−0.171^b	−0.184^b	0.108	1
PriceEarnings	Sig. (2-tailed)	0.026	0.049	0.001	0.020	0.012	0.128