The article, "Pharmaceutical R&D Spending and Threats of Price Regulation," is scheduled to appear early next year in the Journal of Financial and Quantitative Analysis, according to a report in UConn Today.

Joseph Golec, an associate professor of finance in the School of Business, began work on the article about five years ago with John Vernon, a former colleague who is now with the National Bureau of Economic Research. Shantaram Hegde, the Business School’s associate dean for graduate studies and professor of finance, joined the project about four years ago.

"We don’t want to discourage research and new product and drug development,” Hegde says. "We do want to contain inflation and medical cost, but we don’t want to discourage new product development in medicine."

View the complete article in UConn Today.