MARKET ORIENTATION AND R&D EFFECTIVENESS IN HIGH-TECHNOLOGY FIRMS: AN EMPIRICAL INVESTIGATION IN THE BIOTECHNOLOGY INDUSTRY Luigi M. De Luca Aston Business School, Aston University Aston Triangle, B4 7ET, Birmingham, United Kingdom Tel: +44 (0)121 2043147 Email: L.Deluca2@aston.ac.uk . Gianmario Verona Università Commerciale Luigi Bocconi Via Bocconi 8, 20136 Milano Italy Tel: +39 02 5836 6522, Fax: +39 02 5836 3790 Email: gianmario.verona@unibocconi.it Salvio Vicari Università Commerciale Luigi Bocconi Viale Filippetti 9, 20122 Milano, Italy Tel: +39 02 5836 3703, Fax: +39 02 5836 3790 Email: salvatore.vicari@unibocconi.it July 2007 Acknowledgements The authors kindly acknowledge the excellent research assistantship provided by Anna Berenato and Daniele Severi Bruni. Support from Science Park San Raffaele was of special importance in data collection; the authors are particularly indebted to the courtesy of Daniela Franchi and Daniela Bellomo. Kwaku Atuahene-Gima, Andy King, Ajay Kohli, Margie Peteraf, Ken G. Smith, Alva Taylor, and Gabriele Troilo, provided insightful comments on earlier drafts of the manuscript. Usual disclaimers apply.