在科技高度發達的現代社會,企業必須不斷革新技術、改善品質及降低成本以求生存發展,其主要手段為研究與發展。本研究鑒於生產函數可強調研究發展促成技術進步及對生產所造成之影響,故採延伸型Cobb-Douglas生產函數驗證台灣上市(櫃)生技公司所投入的研究發展活動對於公司經營績效的影響。採用損益表中之會計科目作為公司經營績效的衡量指標,並以公司所投入之研究發展費用與研究發展密集度作為衡量公司投入研究發展活動的指標。公司員工人數、資產總額等資料為本研究之控制變數。 實證結果發現:公司營業收入淨額與所投入之研究發展密集度呈現負相關,顯示研究費用投入對營業收入淨額之增加關係不大,此與台灣生技業正處於萌芽期有關。若考慮研究發展活動具有規模報酬變動的特性,表現則顯著且正向關係,表示研究發展到達一定水準後,研究發展費用投入將會帶動公司營收向上增加;換言之,生技業研究發展活動的確具規模報酬遞增的影響,且越來越顯著,符合生技業及研究發展的特性。
Now in the high-tech community, the firms have to reformed there technology and to reduced the cost in order to existence.Then R&D is the main method. In this thesis, the study used an extended Cobb-Douglas production function to examine the influence of R&D activities on the performance of Taiwan’s biotechnology companies. For corporate performance, various measures derived from income statement were used in this study. The R&D activities were proxied by the R&D expenses and the R&D intensity of the firms. The number of employees and the total assets of each of the firms were used as control variables. The main findings of this study are: the variable of sales is negatively related to the variable of R&D intensity. It seems that the R&D activities did not help to improve corporate performance in terms of bringing in more sales.This is related to the infant stage that Taiwan is situated now.If we consider R&D activities have the characteristic of variation in returns to scale, the relationship is significant and positive.It means when R&D get up to a specified level, the input of R&D expenses will improve the corporate revenue.In another word, R&D activities in biotechnology firms really have the influence of increasing returns to scale which is more and more significant.It is conformed to the characteristic of biotechnology industry and R&D.