生物技術是台灣政府極力推動發展的下一波產業,過去已推出許多政策措施。然而,生物技術領域的兩大產業:製藥與醫材,因商業模式與產品特性不同,業者建議政府應各別針對產業擬定施政方針。 本研究挑選製藥公司9家與醫療器材公司9家,為研究樣本,以2003年自2011年作為研究期間。以了解製藥與醫療器材產業的差異性,並分析研究發展支出與財務績效在製藥產業和醫療器材產業中的關聯性。 研究結果發現,在製藥產業,研究發展費用的投入與財務績效指標呈現正向的相關性,亦即製藥公司投入越多研發對財務績效的提升越有助益,但無形資產占總資產的比例與財務績效指標則呈現負向的相關性。在醫療器材產業,研究發展費用的投入與財務績效指標呈現負向的相關性,亦即醫療器材公司投入研發經費對財務績效的提升沒有助益,但無形資產占總資產的比例與財務績效指標呈現正向的相關性。
This study examines the relationship between R&D investment and financial performance in both Taiwanese pharmaceutical and medical device industries, and evaluates the different performance between those two industries. 9 pharmaceutical companies and 9 medical device companies are included in dataset, over the period of 2003-2011. The results show that investment in R&D has positive and significant relationship with the financial performance in the pharmaceutical industries, and medical device industries has opposite results of relationship. Moreover, the results indicate the relationship between the ratio of intangible assets by total assets has positive and significant relationship in the medical device industries, and pharmaceutical industries has opposite results of relationship.