一、中文部份
公開資訊觀測站，http://mops.twse.com.tw/mops/web/index。
王育偉與鄭揚耀 (2013)，《公司治理、資本支出決策與公司價值》，管理與系統，第20卷，第4期，頁665-695。
王祝三、莊雅雪與郭勁甫 (2009)，《公司治理、投資與公司價值之關聯性》，東吳經濟商學學報，第66期，頁69-114。
王曉雯、王泰昌與吳明政 (2008)，《企業經營型態與研發活動績效》，管理學報，第25卷，第2期，頁173-193。台灣經濟研究院生物科技產業研究中心，http://www.tier.org.tw/dep/intro_bio.aspx。
台灣證券交易所，http://www.twse.com.tw/ch/index.php。
朱萍 (2008)，《資產評估學教程》，上海財經大學出版。
行政院科技部國家實驗研究院 (2012)，中華民國科學技術年鑒，101年版之後已停刊。
行政院經濟部工業局 (2014)，2014生技產業白皮書。
行政院經濟部工業局 (2015)，2015生技產業白皮書。
行政院經濟部投資業務處，投資台灣入口網，http://investtaiwan.nat.gov.tw/cht/main.jsp。
何紅 (2009)，《資產評估概論》，高等教育出版社。
吳思華 (2000)，《策略九說─策略思考的本質》，臉譜文化出版社。吳碧娥 (2014)，《生技產業如何運用無形資產籌資》，北美智權報，2014/05/06。
李馨蘋、陳治豪與程心瑤 (2015)，《公司策略與公司績效之研究─公司治理之調節效果》，中華管理評論，第18卷，第1期。
李馨蘋與莊宗憲 (2007)，《公司治理機制與公司績效之實證研究》，東吳經濟商學學報，第57期，頁1-27。
沈中華與林昆立 (2008)，《公司治理對基本財務資訊與股票報酬關係的影響：內生性轉換模型之應用》，管理評論，第27卷，第2期，頁1-27。
周筠梅 (2005)，《關於併購中目標企業價值評估方法的探尋》，商業經濟，第3期。
林美倫 (2007)，《研發支出對經營績效及股權評價影響之研究》，台南科大學報，第26期，頁115-134。
林鳳麗 (2008)，《台灣上市公司股權結構是否影響公司價值?縱橫門檻回歸模型之運用》，逢甲大學商學研究所博士論文。邱垂昌與莊清騄 (2010)，《獨立董監事，公司資訊透明度與公司價值之關聯性》，中山管理評論，第18卷，第4期，頁949-1008。
邱垂昌與黃秀姿 (2006)，《自願設立獨立董事、關係人交易與公司價值關聯性之研究：代理理論與訊號發射理論之比較》，管理及人文科學，第1卷，第3期，頁379-403。
金成隆、林修葳與邱煒恆 (2005)，《研究發展支出與資本支出的價值攸關性：以企業生命週期論析》，中山管理評論，第13卷，第3期，頁617-643。洪榮華、陳香如與王玉珍 (2005)，《公司內部治理機制與公司績效之關係─股權結構與董事會特性的觀點》，輔仁管理評論，第12卷，第3期，頁23-40。科技年鑑網，http://yearbook.stpi.org.tw/。
財團法人生物技術開發中心，http://www.dcb.org.tw/dcbc.aspx?pg=ct-ab-us0。
高惠松與詹照潔 (2013)，《不景氣時期之高階經理人薪酬結構與公司未來績效》，東吳經濟商學學報，第80期，頁81-117。
張艷純 (2005)，《企業價值評估貼現模型的比較研究》，特區經濟，第2期。
許毓真 (2014)，《資本市場之生技醫藥企業營運現況綜覽》，證券櫃檯，頁46-49。
陳春山 (1986)，《機構投資人與證券市場》，證券管理，第4卷，第2期，頁30-40。
陳錦村與葉雅薰 (2002)，《公司改組、監督機制與盈餘管理之研究》，會計評論，第34期，頁1-29。
隋靜、和金生與于建成 (2005)，《用Black-Scholes期權定價模型評價知識管理投資》，中國地質大學學報，第5卷，第5期，頁43-47。
黃政仁與詹佳樺 (2013)，《創新能力、創新效率與公司價值：以台灣電子資訊業為例》，商略學報，第5卷，第1期。
黃寶玉、倪衍森與柯沂均 (2013)，《台灣電子業公司治理與盈餘管理對公司績效之影響》，中華管理評論，第16卷，第1期。
楊朝旭、蔡柳卿與吳幸蓁 (2008)，《最終控制股東與公司創新之績效與市場評價：台灣電子業之證據》，管理評論，第27卷，第4期，頁29-56。經濟部工業局，財團法人工業技術研究院，生醫與醫材研究所，https://www.itri.org.tw/chi/Content/Messagess/contents.aspx?SiteID=1&MmmID=620622503146677273。
經濟部工業局，財團法人工業技術研究院，產業經濟與趨勢研究中心，https://www.itri.org.tw/chi/Content/Messagess/contents.aspx?SiteID=1&MmmID=620622503317061274。
經濟部工業局，財團法人工業技術研究院 (2015)，《創新連結國際，帶動醫材產業提升》，工業技術與資訊月刊，第289期。
經濟部工業局，財團法人醫藥工業技術發展中心，http://www.pitdc.org.tw/。
經濟部生技醫療產業發展推動小組，http://www.biopharm.org.tw/。
葉銀華與柯承恩 (2002)，公司治理與評等系統，商智文化。
齊鵬與張林楠 (2007)，《市場比較法在工業地價評估中的運用》，中國國土資源報，第8版。
歐進士 (1998)，《我國企業研究發展與經營績效關聯之實證研究》，中山管理評論，第6卷，第2期，頁357-386。蔡柳卿、邵珮雯與楊怡芳 (2008)，《公司治理對代理成本與無形資產之影響》，中華管理評論，第11卷，第4期。
鄭伶如 (2008)，《公司治理、資本結構與公司價值關係之研究》，文大商管學報，第13卷，第1期，頁65-92。聶建中、姚蕙芸與劉文謙 (2004)，《資本結構與公司價值之非線性關聯性研究及縱橫門檻效果分析-以台灣上市電子公司為例》，第五屆全國實證經濟學論文研討會。
證券櫃檯買賣中心，http://www.tpex.org.tw/web/。
二、英文部分
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Agrawal, A. and Mandelker, G. (1990), “Large Shareholders and the Monitoring of Managers: the Case of Antitakeover Charter Amendments”, Journal of Financial and Quantitative Analysis, 25, 143-161.
Agrawal, A. and Knoeber, C. R. (1996), “Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders”, Journal of Financial and Quantitative Analysis, 31, 377-397.
Allen, F., Carletti, E. and Marquez, R. (2007), “Stakeholder Capitalism, Corporate Governance and Firm Value”, University of Pennsylvania Working Paper, No. 190.
Andres, P. D., Azofra, V. and Lopez, F. (2005), “Corporate Boards in OECD Countries: Size, Composition, Functioning and Effectiveness”, Corporate Government, 13(2), 197-210.
Aretz, K., Bartram, S. M. and Dufey, G. (2007), “Why Hedge? Rationales for Corporate Hedging and Value Implications”, Journal of Risk Finance, 8(5), 434-449.
Arnold, J. M. and Hussinger, K. (2010), “Exports Versus FDI in German Manufacturing: Firm Performance and Participation in International Markets”, Review of International Economics, 18(4), 595-606.
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Barney, J. B. (1986), “Strategic Factor Markets: Expectations, Luck, and Business Strategy”, Management Science, 42, 1231-1241.
Barney, J. B. (1991), “Firm Resources and Sustained Competitive Advantage”, Journal of Management, 17(1), 99-120.
Barnhart, S. W. and Rosenstein, S. (1998), “Board Composition, Managerial Ownership and Firm Performance: An Empirical Analysis”, The Financial Review, 33, 1-16.
Bathala, C. T., Moon, K. P. and Rao, R. P. (1994), “Managerial Ownership, Debt Policy, and the Impact of Institutional Holdings: An Agency Perspective”, Financial Management, 23, 38-50.
Bharadwaj, A. S., Bharadwaj, S. G. and Konsynski, B. R. (1999), “Information Technology Effects on Firm Performance as Measured by Tobin's q”, Management Science, 45(7), 1008-1024.
BioCentury Online Intelligence，https://www.biocentury.com/bciq/
Black, B. S., Jang, H. and Kim, W. (2003), “Does Corporate Governance Affect Firm Value? Evidence from Korea”, Stanford Law School Working Paper, No. 237.
Bolton, P. and Von-Thadden E. L. (1998), “Blocks, Liquidity and Corporate Control”, Journal of Finance, 53, 1-25.
Brammer, S. and Millington, A. (2008), “Does It Pay to Be Different: An Analysis of the Relationship between Corporate Social and Financial Performance”, Strategic Management Journal, 29(12), 1325-1343.
Bushman, R., Chen, Q., Engel, E. and Smith, A. (2004), “Financial Accounting Information, Organizational Complexity and Corporate Governance Systems”, Journal of Accounting and Economics, 37, 167-201.
Chakravarty, S. and John, J. M. (1999), “Dose Insider Trading Really Move Stock Prices”, Journal of Financial and Quantitative Analysis, 34(2), 191-209.
Collis, D. J. and Montgomery, C. A. (1995), “Competing on Resources: Strategy in the 1990s”, Knowledge and Strategy, 2, 25-40.
Collis, D. J. and Montgomery, C. A. (1997), “Corporate Strategy: Resources and the Scope of the Firm”, McGraw-Hill:Irwin.
Dabla-Norris, E., Honda, J., Lahreche, A. and Verdier, G. (2010), “FDI Flows to Low-Income Countries: Global Drivers and Growth Implications”, IMF Working Paper, No. 10/132.
Dalton, D. R. and Johnson, J. L. (1999), “Number of Directors and Financial Performance”, Acadymy of Management Review, 42(6), 674-686.
Florackis, C. (2008), “Agency Costs and Corporate Governance Mechanisms: Evidence for UK Firms”, International Journal of Managerial Finance, 4(1), 37-59.
Godfrey, P. C., Merrill, C. B. and Hansen, J. M. (2009), “The Relationship between Corporate Social Responsibility and Shareholder Value: An Empirical Test of the Risk Management Hypothesis”, Strategic Management Journal, 30(4), 425-445.
Grant, R. B. (1991), “The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation”, California Management Review, 33(3), 114-135.
Graves, S. B. and Langowitz, N. S. (1993), “Innovative Productivity and Returns to Scale in the Pharmaceutical Industry”, Strategic Management Journal, 14(3), 593-605.
Hall, L. A. and Bagchi-Sen, S. (2002), “A Study of R&D, Innovation and Business Performance in the Canadian Biotechnology Industry”, Technovation, 22(4), 231-244.
Hall, L. A. and Bagchi-Sen, S. (2007), “An Analysis of Firm Level Innovation Strategies in the U.S. Biotechnology Industry”, Technovation, 27(1/2), 4-14.
Hansen, B. E. (1999), “Threshold Effects in Non-Dynamic Panels: Estimation, Testing, and Inference”, Journal of Econometrics, 93, 345-368.
Hill, C. W. L. and Snell, S. A. (1988), “External Control, Corporate Strategy and Firm Performance in Research-Intensive Industries”, Strategic Management Journal, 9(6), 577-590.
How, J. C. Y. and Low, J. G. (1993), “Fractional Ownership and Underpricing: Signals of IPO Firm Value”, Pacific-Basin Finance Journal, 1, 47-56.
Huang, J., Hu, R., Meijl, H. V. and Tongeren, F. V. (2004), “Biotechnology Boosts to Crop Productivity in China: Trade and Welfare Implications”, Journal of Development Economics, 75(1), 27-54.
Jensen, M. C. and Meckling, W. H. (1976), “Theory of the Firm: Managerial Behavior, Agency Cost and Ownership Structure”, Journal of Financial Economics, 3, 305-360.
Jensen, M. C. and Ruback, R. S. (1983), “The Market for Corporate Control: The Scientific Evidence”, Journal of Financial Economics, 11(1), 5-50.
Jin, Y. and Jorion, P. (2006), “Firm Value and Hedging: Evidence from U.S. Oil and Gas Producers”, Journal of Finance, 61(2), 893-919.
Klapper, L. F. and Love, I. (2004), “Corporate Governance, Investor Protection and Performance in Emerging Markets”, Journal of Corporate Finance, 10(5), 703-728.
Kula, V. (2005), “The Impact of the Roles, Structure and Process of Boards on Firm Performance: Evidence from Turkey”, Corporate Governance, 13(2), 265-276.
La Porta, R., Lopez-de-Silanes, F. and Shleifer, A. (1999), “Corporate Ownership around the World”, Journal of Finance, 54, 471-517.
Le, S. A., Walters, B. and Kroll, M. (2006), “The Moderating Effects of External Monitors on the Relationship between R&D Spending and Firm Performance”, Journal of Business Research, 59(2), 278-287.
Lin, B. W., Lee, Y. and Hung, S. C. (2006), “R&D Intensity and Commercialization Orientation Effects on Financial Performance”, Journal of Business Research, 59(6), 679-685.
Lin, C. T. and Wang, S. M. (2005), “Biosensor Commercialization Strategy: A Theoretical Approach”, Frontiers in Bioscience, 10(1), 99-106.
Lin, F. L. (2010), “A Panel Threshold Model of Institutional Ownership and Firm Value in Taiwan”, International Research Journal of Finance and Economics, 42, 54-62.
Lin, F. L. and Chang, T. (2011), “Does Debt Affect Firm Value in Taiwan? A Panel Threshold Regression”, Applied Economics, 43(1), 117-128.
Lindenberg, E. and Ross, S. (1981), “Tobin's Q Ratio and Industrial Organization”, Journal of Business, 1-32.
Mak, Y. T. and Li, Y. (2001), “Determinants of Corporate Ownership and Board Structure: Evidence from Singapore”, Journal of Corporate Finance, 7, 235-256.
Mak, Y. T., Tan, R. S. K., Tan, Y. C. W. and Tee, H. P. (2003), “Corporate Governance and IPO Pricing”, Corporate Governance and Financial Reporting Centre Working Paper.
Mather, P. and Ramsay, A. (2007), “Do Board Characteristics Influence Impression Management through Graph Selectivity around CEO Changes”, Australian Accounting Review, 17(2), 84-95.
Morck, R., Shleifer, A. and Vishny, R. W. (1988), “Management Ownership and Market Valuation: An Empirical Analysis”, Journal of Financial Economics, 20, 293-315.
Nieh, C. C. and Yeh, C. Y. (2010), “Panel Threshold Analysis for the Impact of Institutional Ownership on Firm Value”.
Pantzalis, C. (2001), “Does Location Matter: An Empirical Analysis of Geographic Scope and MNC Market Valuation”, Journal of International Business Studies, 32(1), 133-155.
Penrose, E. T. (1959), “The Theory of the Growth of the Firm”, Wiley, New York.
Pound, J. (1988), “Proxy Contests and the Efficiency of Shareholder Oversight”, Journal of Financial Economics, 20, 237- 265.
Qian, G. and Li, L. (2003), “Profitability of Small and Medium Sized Enterprises in High-Tech Industry: The Case of the Biotechnology Industry”, Strategic Management Journal, 24(9), 881-887.
Quandt, R. E. (1958), “The Estimation of Parameters of a Linear Regression System Obeying Two Separate Regimes”, Journal of the American Statistical Association, 53, 873-880.
Ren-Yu, H. U. and Xue-Wen, S. (2008), “Discounted Cash Flow Method for Corporation Value Estimation”, Journal of Modern Accounting and Auditing, 4(5), 40-44.
Roberts, P. W. (1999), “Product Innovation, Product Market Competition and Persistent Profitability in the U.S. Pharmaceutical Industry”, Strategic Management Journal, 20(7), 655-670.
Rosenstein, S. and Wyatt, J. H. (1997), “Outside Directors, Board Independence and Shareholder Wealth”, Journal of Financial Economics, 25, 175-191.
Ruan, W., Tian, G. and Ma, S. (2011), “Managerial Ownership, Capital Structure and Firm Value: Evidence from China’s Civilian-Run Firms”, Australasian Accounting Business and Finance Journal, 5(3), 73-92.
Saranga, H. (2007), “Multiple Objective Data Envelopment Analysis as Applied to the Indian Pharmaceutical Industry”, Journal of the Operational Research Society, 58(11), 1480-1493.
Selznik, P. (1957), “Leadership in Administration: A Sociological Interpretation”, Berkeley, CA: University of California Press.
Sharma, A. and Lacey, N. (2004), “Linking Product Development Outcomes to Market Valuation of the Firm: The Case of the U.S. Pharmaceutical Industry”, Journal Product Innovation Management, 21(5), 297-308.
Shefer, D. and Frenkel, A. (2005), “R&D, Firm Size and Innovation: An Empirical Analysis”, Technovation, 25(1), 25-32.
Singh, H. and Harianto, F. (1989), “Top Management Tenure, Corporate Ownership Structure and the Magnitude of Golden Parachutes”, Strategic Management Journal, 10(1), 143-156.
Singh, M. and Davidson, W. (2003), “Agency Costs, Ownership Structure and Corporate Governance Mechanisms”, Journal of Banking and Finance, 27(5), 793-816.
Stock, G. N., Greis, N. P. and Fischer, W. A. (2001), “Absorptive Capacity and New Product Development”, Journal of High Technology Management Research, 12(1), 77-91.
Teng, M. J. (2011), “The Effects of an Environmental Management System on Intangible Assets and Corporate Value: Evidence from Taiwan’s Manufacturing Firms”, Asian Business and Management, 10(4), 381-404.
Tiao, G. C. and Tsay, R. S. (1994), “Some Advances in Non-linear and Adaptive Modelling in Time-Series”, Journal of Forecasting, 13, 109-131.
Tobin, J. (1969), “A General Equilibrium Approach to Monetary Theory”, Journal of Money, Credit and Banking, 1(1), 15-29.
Tong, H. (1990), “Non-Linear Time Series: A Dynamical System Approach”, Oxford University Press.
Tong, H. and Lim, K. S. (1980), “Threshold Autoregressions, Limit Cycles and Data”, Journal of the Royal Statistical Society, 245-292.
Tong, H. (1978), “On a Threshold Model”, Pattern Recognition and Signal Processing, 575-586.
Tsai, K. H. and Wang, J. C. (2004), “The R&D Performance in Taiwan's Electronics Industry: A Longitudinal Examination”, R&D Management, 34(2), 179-189.
Wahba, H. (2008), “Exploring the Moderating Effect of Financial Performance on the Relationship between Corporate Environmental Responsibility and Institutional Investors: Some Egyptian Evidence”, Corporate Social Responsibility and Environmental Management, 15(6), 361-371.
Wernerfelt, B. (1984), “A Resource-Based View of the Firm”, Strategic Management Journal, 5(2), 171-180.
Wong, K. A. and Yek, T. C. (1991), “Shareholdings of Board of Directors and Corporate Performance from Singapore”, Pacific Basin Capital Market Research, 2, 211-225.
Yeh M. L., Chu, H. P., Sher, P. J. and Chiu, Y. C. (2010), “R&D Intensity, Firm Performance and the Identification of the Threshold: Fresh Evidence from the Panel Threshold Regression Model”, Applied economics, 42(3), 389-401.
Yermack (1996), “Higher Market Valuation of Companies with A Small Board of Directors”, Journal of Financial Economics, 40(2), 185-211.
Zhao, Z. and Zhang, K. H. (2010), “FDI and Industrial Productivity in China: Evidence from Panel Data in 2001-06”, Review of Development Economics, 14(3), 656-665.