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• Examining macro factors influencing human capital investment decisions in the pharmaceutical industry

  10-20

  Gergő Tömöri

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  The innovation policies of the pharmaceutical industry are determined mainly by elements of the macro-environment that influence the strategic directions of the companies. In this context, the study aimed to examine whether and to what extent determined the expansion or reduction of the workforce of pharmaceutical companies in the last decade by macro-environmental indicators. These indicators represent the political, economic, social and technological innovation environment well, which are also considered their strategic decisions. The analysis was based on sectoral and macroeconomic indicators and industry employment data for 27 European countries. The results of the multivariate statistical analysis show that the economic potential of each country's uptake market, the volume of governmental support, and the human development index significantly influenced the evolution of pharmaceutical employment over the period under study.