:::

詳目顯示

回上一頁
題名:專利對農業生物科技廠商生產技術效率及市場價值之影響
作者:張靜文 引用關係
作者(外文):Jing-Wen, Chang
校院名稱:國立臺灣大學
系所名稱:農業經濟學研究所
指導教授:陳郁蕙
學位類別:博士
出版日期:2004
主題關鍵詞:市場價值生產技術效率專利technical efficiencypatentmarket value
原始連結:連回原系統網址new window
相關次數:
  • 被引用次數被引用次數:期刊(0) 博士論文(1) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:0
  • 共同引用共同引用:0
  • 點閱點閱:38
摘要
本研究選取1998年至2002年我國食品及化學生技醫療類上市上櫃廠商共31家,以應用於追蹤資料之隨機性生產邊界法及變動係數隨機性生產邊界法,於生產要素投入中納入(1)研發費用;(2)每年持有專利數;(3)專利類型加權專利數,以及(4)專利申請範圍加權專利數等四種專利變數,經函數形式檢定後,以Cobb-Douglas形式之生產函數估計廠商生產技術效率,並探討影響技術無效率之因子。實證結果顯示,不論是以哪一種專利變數進行生產技術效率之探討,31家樣本廠商生產技術效率1998年至2002年變化幅度均不大,且廠商技術無效率多來自人為,未來廠商在技術效率之提升以及降低人為技術無效率方面,仍具有相當的改善空間。而相較「每年持有專利數」與「專利類型加權專利數」兩者之生產彈性可以發現,未經以專利類型調整前之每年持有專利數會高估專利對廠商附加價值影響力。
在專利對廠商市場價值之影響方面,本研究利用1998-2002年廠商財務資料進行Tobin’s Q之實證估計,結果顯示專利變數對廠商市場價值有正面且顯著之影響,且在各項生產投入要素中,專利變數對廠商市場價值之提升貢獻最大,顯示出專利能有效提升廠商市場價值。
有鑑於農業生技產業之發展目前面臨著對環境與人類健康影響不明、智慧財產權保護不夠嚴謹等問題,未來我國要發展農業生技產業並永續經營,政府應積極鼓勵研發並落實研發成果、嚴格監督生物技術及生技產品、整合各生物技術學術機構與企業並培訓專業人才、掌握關鍵技術並拓展國際交流與經貿合作。如此一來,我國生技產業將可望成為亞太生物科技研發重心。
Abstract
This research chose 31 firms from domestic listed companies which are classified to food industry and chemical/biotechnology/medical industry. By using the methodology of stochastic production frontier with panel data, stochastic frontier of varying coefficients, both with Cobb-Douglas production function, and Tobin’s Q to estimate how patents variables -- such as R&D expenditure, annual patents hold, patent weighted by type, patents weighted by claim -- influence these firms’ production technical efficiency and market value. The empirical results exhibit that production technical efficiency changed slightly during 1998 to 2002, and most technical inefficiency is man-made, no matter which patent variables are put into production function. This result imply that there still have a lot to do in promotion firms’ technical efficiency and reducing man-made inefficiency in the future. Furthermore, by comparing the production elasticities of ‘annual patents’ and ‘annual patents weighted by patent’s type’, the results findings suggest that using ‘annual patent’ will overestimate the influence that patents’ effect to firms'' added value.
As for the influences of patents on firms’ market value, we used Tobin’s Q model to evaluate these firms’ finance data of 1998 to 2002. The empirical results indicate that patent variables significantly increase these firms’ market value. We also found that patent variables have contribute most to increase sample firms’ market value than other input factors.
The development of agricultural biotechnology industry presently experience some problems such as the influences on human-beings or environment are unknown, and the protection of intellectual properties are imprudent. In order to promote and make agricultural biotechnology industry operate sustainable, the government should encourage R&D and make R&D achievements practicable positively, supervise the using of biotechnology and relative products strictly, integrate biotechnology research institutions, universities, and enterprises to rear professionals, and control the key techniques and expend to international communication and trade cooperation. Eventually, Taiwan will become the biotechnology research center of Asia Pacific.
參考文獻
中文部分
ITIS產業資訊服務網,http://www.itis.org.tw/。
王三郎(2001)。「生物醫藥產業--尖端生物科技產業系列報導(1)」,生物資源生物技術,3(3): 1-6。
王世仁、王世堯(2003)。「專利策略」,智慧財產權剖析—論生物科技專利策略與實務,全華科技圖書。
王為敏、徐慶昇、文端廉、林晉源(2002)。生技投資的億萬商機,時報出版。
甘哲儒(2000)。「如何評估生物科技公司投資案」,生物資源生物技術,2(2): 8-10。
生物技術產業年鑑(2003)。財團法人生物技術開發中心。
田蔚城(2002)。「掌握生技產業發展的利基」,生技投資的億萬商機,時報出版。
行政院經濟部工業局,http://www.moeaidb.gov.tw/。
行政院經濟部智慧財產局,http://www.tipo.gov.tw。
吳佳穎(2003),「我國生技醫藥發明專利之審查」,國立臺灣大學智慧財產權之運用系列講座(十),國立臺灣大學研究發展委員會智慧財產權辦公室。
吳明仲(1997)。「臺灣地區製藥業生產技術效率之研究」,國立中央大學產業經濟研究所碩士論文。
吳明哲(2000)。「農業生物技術科技計畫發展策略」,種苗科技專訊,36: 10-16。
李志誠(2000)。「基因改造食品之展望」,生物資源生物技術,2(2): 11-12。
李崇僖、宋皇志(2002)。「我國保護植物相關發明之政策探討--由國外植物專利制度之實踐經驗談起」,2002年專利法保護植物品種之法制趨勢研討會,國立台灣大學農藝學系,台北。
李彩雲、李昆達、祝嘉鴻、林錫杰(1999)。「21世紀的生技產業立國懇談會報告書-提升國民生活品質之生技產業及其實現方法」,行政院國家科學委員會科學技術資料中心,第1-43頁。
李朝賢、李宜謙(1995)。「臺灣虱目魚養殖技術效率之分析」,農業經濟半年刊,58: 103-128。new window
李森煙(2002)。「淺談生技領域的研究工具專利爭議」,科技法律透析,11: 20-24。
林西淮、徐中琦(1999)。「複雜托賓Q與簡單托賓Q兩者相關性之實證研究」,管理會計,47: 66-76。
林宜勉、潘昭儀(1998)。「股利宣告內涵與Tobin’s Q理論」,管理學報,15(4): 587-621。new window
林惠玲(1997)。「設限依變數計量模型之設定與選擇—台灣電子電器業R&D模型之應用」,經濟論文叢刊,25(1): 73-94。new window
邱永和、胡均立、曹嘉麟(2003)。「臺灣生物科技廠商之成本效率分析」,農業與經濟,31: 55-78。new window
俞海琴、周本鄂(1994)。「台灣地區上市公司董監事、關係人持股比率和公司托賓Q關係之研究」,管理評論,13(1): 79-98。new window
俞海琴、陳慧娟(1999)。「我國上市公司成長、槓桿與托賓Q關連之研究」,風險管理學報,1(1): 81-101。new window
陳井星(2002)。「論智慧財產權的概念--從WTO與貿易有關智慧財產權協定之觀點」,法令月刊,53: 3-12。new window
陳郁蕙、李武忠(2001)。「農業生物技術之探討與經濟評估」,生物技術在農業上之應用,國立台灣大學農業陳列館與農業化學系。
陳智遠(2003)。「疫病發生對臺灣草蝦養殖技術效率之影響」,國立臺灣大學農業經濟所碩士論文。
傅祖壇、詹滿色(1991)。「台灣記帳農場之隨機性生產邊界及技術效率分析」,台灣土地金融季刊,27(3): 125-142。
彭作奎(1986)。「機率邊界生產函數推估之理論與實際」,臺灣經濟,112: 69-75。new window
彭作奎、吳江胡(1986)。「臺灣牛乳生產之技術效率與影響因素之分析」,農業金融論叢,16: 29-38。
游錫堃(2004)。「行政院2004年產業科技策略會議—閉幕致詞」,行政院2004年產業科技策略會議,2004年8月27日。
黃宗能(2002)。「研究機構與大學智慧財產權運作之探討」,產業論壇,4(1): 225-255。new window
黃振德(2002)。「國際對於植物新品種智財權保護之作法」,農政與農情,122: 60-64。
黃振德、鄭玉磐(2002)。「農業智財之保護與經營管理」,農政與農情,115: 67-70。
黃貴民(2000)。「台灣鮑魚養殖產業經濟與技術因素之分析」,海洋大學漁業科學研究所博士論文。
黃貴民、王金利(1997)。「台灣九孔養殖技術效率之分析」,台灣水產學會刊,24(3): 251-259。
楊志海(1999)。「技術來源、創新與生產力」,國立中央大學產業經濟研究所博士論文。
楊志海、陳忠榮(2001)。「研究發展、技術引進與專利—一般動差法於可數追蹤資料的應用」,經濟論文叢刊,29(1): 69-87。new window
楊志海、陳忠榮(2002)。「研究發展、專利與生產力—台灣製造業的實證研究」,經濟論文叢刊,30(1): 27-48。new window
楊婉苓(2002)。「我國GMO規範概況及國際發展近況」,科技法律透析,12: 23-27。
溫祖康(2001)。「台灣草蝦養殖產業之技術效率分析--擬似追蹤資料之應用」,台灣大學農業經濟學研究所碩士論文。
廖和信(2003)。專利,就是科技競爭力,天下文化。
劉錦添(1995)。「臺灣製造業技術效率之實證分析」,經濟論文叢刊,23(2): 149-169。new window
鄧曉芳(2002)。「日本促進生技產業政策措施簡介--以智慧財產權保護措施為例」,科技法律透析,14: 38-42。
盧冠嘉(2001)。「臺灣生物科技公司經營效率之研究」,國立政治大學企業管理學研究所碩士論文。new window
蕭斯欣(2000)。「臺灣的生物技術服務業」,生物資源生物技術,2(2): 3-7。
薛琦、周治邦(1984)。「Farrell衡量效率之方法與臺灣的實證分析」,中國經濟學會年會論文集。
謝劍平(1994)。「資本支出宣告對股東財富之影響—Jensen閒餘現金流量與Tobin’s Q兩假說之驗證」,中國財務學刊,1(2): 37-52。new window
羅朝村(2000)。「生物防治在農業上的應用」,生物資源生物技術,2(2): 8-10。
蘇仲卿(2003)。農業生物技術國家型科技計畫諮議委員會會議報告。
蘇遠志(2001)。「國際基因改造食品標示制度的發展趨勢(下),」農業世界雜誌,第219期,第10-19頁。
蘇遠志(2002)。「台灣發展生技產業的現況與趨勢」,生物產業,13(4): 536-555。
英文部分
Afriat, S.N. (1972). Efficiency Estimation of Production Function. International Economic Review, 13: 568-598.
Aigner, D.J. and S.F. Chu (1968). On Estimating the Industry Production Function. American Economic Review, 58: 826-839.
Aigner, D.J., C.A.K. Lovell and P. Schmidt (1977). Formulation and Estimation of Stochastic Frontier Production Function Models. Journal of Econometrics , 6: 21-37.
Baltagi, B.H. and J.M. Griffin (1988). A General Index of Technical Change. Journal of Political Economy, 96(1): 20-41.
Barham, B., J. Foltz and K. Kim (2000). Trends in University Ag-Biotech Patent Production. Review of Agricultural Economics, 24(2): 294-308.
Barro, R.J. (1990a). The Stock Market and Investment. The Review of Financial Studies, 3(1): 115-130.
Barro, R.J., and X. Sala-i-Martin (1994). Economic Growth, McGraw-Hill, Inc.
Battese, G.E. and T.J. Coelli (1989). Prediction of Firm-level Technical Efficiency with A Generalized Frontier Production Function for Panel Data. Journal of Econometrics , 38: 387-400.
Battese, G.E. and T.J. Coelli (1992). Frontier Production Functions, Technical Efficiency and Panel Data: With Application to Paddy Farmers in India. Journal of Productivity Analysis, 3: 153-169.
Battese, G.E. and T.J. Coelli (1995). A Model for Technical Inefficiency Effects in A Stochastic Frontier Production Function for Panel Data. Empirical Economics, 20: 325-332.
Battese, G.E., Coelli, T.J. and Colby, T.C. (1989). Estimation of Frontier Production Functions and Efficiencies of Indian Farms Using Panel Data from ICRISAT’s Village Level Studies. Journal of Quantitative Economics, 5: 327-348.
Beachy, R.N. (2003). IP Policies and Serving the Public. Science, 299: 473.
Biotech, (2004). http://biotech.icmb.utexas.edu/.
Biotechnology Industry Organization, BIO statistics data 2003, http://www.bio.org.
Blanchard, Olivier, C. Rhee, and L.H. Summers (1993). The Stock Market, Profit, and Investment. Quarterly Journal of Economics, 108(1): 115-136.
Blundell, R., R. Grifith and J. van Reenen (1995). Market Share, Market Value, and Innovation in a Panel of British Manufacturing Firms. London: University College London Discussion Paper, 95/19.
Brainard, W.C. and J. Tobin (1968). Pitfalls in Financial Model Building. American Economic Review, 58: 99-122.
Caswell, J.A. (2000). An Evaluation of Risk Analysis as Applied to Agricultural Biotechnology (With a Case Study of GMO Labeling). Agribusiness, 16(1): 115-123.
Cockburn, I. and Z. Griliches (1988). Industry Effects and Appropriability Measures in the Stock Market’s Valuation of R&D and Patents. American Economic Review, 78: 419-423.
Coelli, T.J. (1995). Accounting for Environmental Influences in Stochastic Frontier Models: With Application to International Airlines. Journal of Productivity Analysis, 11(3):251-273.
Coelli, T.J. (1995a). Estimators and Hypothesis Tests for a Stochastic Frontier: A Monte Carlo Analysis. Journal of Productivity Analysis, 6: 247-268.
Coelli, T.J., Rao D.S.P. and Battese G.E. (1998). An Introduction to Efficiency and Productivity Analysis. Kluwer Academic Publishers.
Connolly, R.A. and M. Hirschey (1988). Market Value and Patents: A Bayesian Approach. Economics Letters, 27: 83-87.
Connolly, R.A. and M. Hirschey (1990). Firm Size and R&D Effectiveness: A Value-Based Test. Economics Letters, 32: 277-281.
Cornwell, C., P. Schmidt and R.C. Sickles (1990). Production Frontiers with Cross-sectional and Time-series Variation in Efficiency Levels. Journal of Econometircs, 19: 273-292.
DeCarolis, D.M. and D.L. Deeds. (1999). The Impact of Stocks and Flows of Organizational Knowledge on Firm Performance: An Empirical Investigation of the Biotechnology Industry. Strategic Management Journal, 20: 953-968.
Falck-Zepeda, J.B., G. Traxler and R.G Nelson (2000). Rent creation and distribution from biotechnology innovations: herbicide-tolerant soybeans in 1997. Agribusiness, 16(1):21-32.
Farell, M.J. (1957). The Measurement of Productive Efficiency. Journal of the Royal Statistical society, Series A. CXX, Part 3, 253-290.
Fisher, F.M. and J.J. McGowon (1983). On the Misuse of Accounting Rate of Return to Infer Monopoly Profit. American Economic Review, 73: 82-97.
Foltz, J.D., K. Kim and B. Barham (2000). Universities and agricultural biotechnology patent production. Agribusiness, 16(1): 82-95.
Føsund, F.R., C.A.K. Lovell and P. Schmidt. (1980). A Survey of Frontier Production Functions and of their Relationship to Efficiency Measurement. Journal of Econometrics, 13: 5-25.
Franks, J.R. (1999). The status and prospects for genetically modified crops in Europe. Food Policy, 24: 565-584.
Giannakas, K. (2002). Infringement of intellectual property rights: causes and consequence. American Journal of Agricultural Economics, 84(2): 482-494.
Giesecke S. (2000). The contrasting roles of government in the development of biotechnology industry in the US and Germany, Research Policy, 29: 205-223.
Greene, W.H. (1980a). Maximun Likelihood Estimation of Econometric Frontier Functions. Journal of Econometric, 13, 27-56.
Griffiths, W.E. (1972). Estimation of Actual Response Coefficients in the Hildreth-Houck Random Coefficient Model. Journal of the American Statistical Association, 67: 633-635.
Griliches, Z. (1981). Market Value, R&D, and Patents. Economics Letters, 7: 183-187.
Hall, B. (1990). The Manufacturing Sector Master File: 1959-1987. NBER Working Paper, No.3366.
Hall, B. (1993). The Stock Market’s Valuation of R&D Investment During the 1980’s. American Economic Review, 83: 259-264.
Hall, B. (1999). Innovation and Market Value. NBER Working Paper Series, No.6984.
Harvey, S.J. Jr. (2003). The Effect of Trust on Public Support for Biotechnology: Evidence from the U.S. Biotechnology Study, 1997-1998. Agribusiness, 19(2): 155-168.
Hausman, J.A. (1978). Specification Tests in Econometircs. Econometrica, 46: 1251-1271.
Hildreth, C. and J.P. Houck (1968). Some Estimators for a Linear Model with Random Coefficients. Journal of the American Statistical Association, 63: 584-595.
Hirschey, M., V.J. Richardson, and S. Scholz (1998). Value Relevance of Non-financial Information: The Case of Patent Data. University of Kansas School of Business, Photocopied.
Hsiao, C. (1986). Causality Tests in Econometrics. Journal of Economic Dynamics and Control, 1: 321-346.
Iinuma, M., K.R. Sharma and P.S. Leung (1999). Technical Efficiency of Crop Pond Culture in Peninsula Malaysia: An Application of Stochastic Production Frontier and Technical Inefficiency Model. Aquaculture, 175: 199-213.
Jacqueline, E. and S.V. Ramani (1998). Technological Competence and the Influence of Networks: A Comparative Analysis of New Biotechnology Firms in France and Britain. Technology Analysis & Strategic Management, 10: 483-495.
Johnson, D.K.N. and R.E. Evenson (1999). R&D spillovers to agriculture: measurement and application, Contemporary Economic Policy, 17(4): 432-456.
Jondrow, J., C.A.K. Lovell, I.S. Materov and P. Schmidt (1982). On Estimation of Technical Inefficiency in the Stochastic Frontier Production Function Model. Journal of Econometrics, 19: 233-238.
Kalirajan, K.P. and M.B. Obwona (1994) Frontier Production Function: A Stochastic Coefficients Approach. Oxford Bulletin of Economics and Statistics, 56: 85-94.
Knight, H.J. (2001). Patent Strategy for Researcher and Research Managers. John Wiley & Sons, Inc. New York.
Kodde, D.A. and F.C. Palm (1986). Wald Criteria for Jointly Testing Equality and Inequality Restrictions. Econometrica, 54: 1243-1248.
Kumbhakar, S.C. (1990). Production Frontiers, Panel Data and Time Varying Technical Inefficiency. Journal of Econometrics, 46: 201-211.
Kumbhakar, S.C. and L. Hjalmarsson (1993). Technical Efficiency and Technical Progress in Swedish Dairy Farms. In H.O. Fried, C.A.K. Lovell, and S.S. Schmidt (eds.), The Measurement of Productive Efficiency: Techniques and Application. New York: Oxford University Press.
Lang, L. and R.H. Litzenberger (1989). Dividend Announcements. Journal of Financial Economics, 24: 181-191.
Lang, L. and R.M. Stulz (1994). Tobin’s Q, Corporate Diversification, and Firm Performance. Journal of Political Economy, 102(6): 1248-80.
Lavoie, B.F. and I.M. Sheldon (2000). The Source of Comparative Advantage in the Biotechnology Industry: A Real Options Approach. Agribusiness, 16(1): 56-67.
Lee, Y.H. and P. Schmidt (1993). A Production Frontier Model with Flexible Temporal Variation in Technical Inefficiency. In H.O. Fried, C.A.K. Lovell, and S.S. Schmidt (eds.), The Measurement of Productive Efficiency: Techniques and Application. New York: Oxford University Press.
Lerner, J. (1994). The importance of patent scope: an empirical analysis. RAND Journal of Economics, 25(2): 319-333.
Lewellen, W.G. and S.G. Badrinath (1997). On the Measurement of Tobin’s Q. Journal of Financial Economics, 40(1): 3-29.
Liao, IC. (2003). Aquaculture: Personal Experience and Visions. In: C.S. Lee (Editor), Aquaculture: Retrospective and Outlook – An Aquaculture Summit. Asian Fisheries Society, Manila, Philippines and World Aquaculture Society, Baton Rouge, Louisiana, USA. p.1-21.
Lindenberg, E.B. and S.A. Ross (1981). Tobin’s Q Ratio and Industrial Organization. Journal of Business, 54(1): 1-32.
McMillan, G.S., F. Narin and D.L. Deeds (2000). An analysis of the critical role of public science in innovation: the case of biotechnology, Research Policy, 29: 1-8.
Meeusen, W. and J. van den Broeck (1977). Efficiency estimation from Cobb-Douglas production function with composed error. International Economic Review, 18: 435-444.
Megna, P. and M. Klock (1993). The Impact of Intangible Capital on Tobin’s q in the Semiconductor Industry. American Economic Review, 83: 265-269.
Oliver, R.W. (2000). The coming Biotech Age:The Business of Bio-Materials. McGraw-Hill Companies Inc.
Pakes, A. (1985). On Patents, R&D, and the Stock Market Rate of Return. Journal of Political Economy, 93: 390-409.
Perfect, S.B. and K.W. Wiles (1994). Alternative Constructions of Tobin’s Q: An Empirical Comparison. Journal of Empirical Finance, 1: 313-341.
Pitt, M. and L.F. Lee (1981). The Measurement and Sources of Technical Inefficiency in the Indonesian Weaving Industry. Journal of Development Economics, 9: 43-64.
Richmond, J. (1974). Estimating the efficiency of production. International Economic Review, 15: 515-521.
Rivette, K.G. and D. Kline (2000). Rembrandts in the Attic: Unlocking the Hidden Value of Patents, Arts & Licensing International, Inc.
Schimmelpfennig, D. and C. Thirtle (1999). The internalization of agricultural technology: Patents, R&D spillovers, and their effects on productivity in the European Union and United States. Contemporary Economic Policy, 17(4): 457-468.
Schmidt, P. and R.C. Sickles (1984). Production Frontiers and Panel Data. Journal of Business and Economic Statistics, 2: 367-374.
Sickles, R.C., Good, D. and R.L. Johnson (1986). Allocative Distortions and Regulatory Function. American Journal of Agricultural Economices, LII, 505-511.
Simar, L. (1992). Estimating Efficiencies from Frontier Models with Panel Data: A Comparison of Parametric, Non-parametric and Semi-parametric Methods with Bootstrapping. The Journal of Productivity Analysis, 3: 171-203.
Smith, P.J. (2002). Patent rights and trade: analysis of biological products, medicinals and botanicals, and pharmaceuticals. American Journal of Agricultural Economics, 84(2): 495-512.
Summers, L.H. (1981). Taxation and Corporate Investment: A q-Theory Approach. Brookings Papers on Economic Activity, 1: 67-127.
Swamy, P.A.V.B. (1970). Efficient Inference in a Random Coefficient Regression Model. Econometrica, 38: 311-323.
Tobin (1969). A General Equilibrium Approach to Monetary Theory. Journal of Money, Credit and Banking, 1:15-29.
Von Furstenberg, G.M. (1977). Corporate Investment: Does Market Valuation Matter in the Aggregate? Brookings Papers on Economic Activity, 2: 347-397.
Wohl, J.B. (1998). Consumer’s Decision-Making and Risk Perceptions Regarding Foods Produced with Biotechnology. Journal of Consumer Policy, 21: 387-404.
Wood Mackenzie (2004). PharmaQuant Estimated Total Ethical Drug Sales, 2004. http://www.woodmac.com/pharmcombiot.htm.
 
 
 
 
第一頁 上一頁 下一頁 最後一頁 top
:::
無相關著作
 
無相關點閱
 
QR Code
QRCODE