Estimating the Cost Malmquist Productivity Index in the Taiwan Biotech and Biopharmaceutical Industry

台灣生物科技與生技製藥公司之成本面Malmquist生產力變動

10.7086/TJAE.201009.0059

楊永列(Yung-Lieh Yang)；盛子駿(Tzu-Chun Sheng)；黃明祥(Ming-Hsiang Huang)

成本面Malmquist生產力指數 ； 生物科技與生技製藥產業 ； Cost Malmquist Index ； Biotech Industry Productivity

應用經濟論叢

87_S期（2010 / 09 / 01）

59 - 85

英文

本研究估計並分解台灣生物科技與生技製藥公司(Biotech and Biopharmaceutical firms)於2004年至2007年間產出導向之成本面Malmquist生產力指數(cost Malmquist index approach)。根據Yang and Huang (2009)所發展出之研究方法，成本面Malmquist生產力指數被分解爲五個生產力變動的來源，分別是純技術效率變動(pure technical efficiency change, ΔPTE)、技術變動(technical change,ΔT)、配置效率變動(allocative efficiency change, ΔAE)、投入要素價格變動(input price effect change, ΔPE)與成本規模效率變動(cost scale efficiency change, ΔCSE)。實證結果發現，台灣生物科技與生技製藥公司整體而言於2004年至2007年之成本面生產力變動成長達7.17%，其變動源自於配置效率之成本節約與成本規模效率的進步。研究發現，台灣生物科技與生技製藥公司成本面生產力的進步與之前傳統投入導向與產出導向之生產力方法有很大的不同。本研究進一步以固定效果長期追蹤模型法來探討廠商成本面生產力指數之決定因素與研發及市場風險管理在其中扮演的角色。

This paper estimates and decomposes the output-oriented cost Malmquist productivity index of the Taiwanese biotech and biopharmaceutical (B&BP) industry in 2004-2007 periods. Following the methodology of Yang and Huang (2009), the cost Malmquist productivity index is decomposed into five sources of productivity change: pure technical efficiency change, technical change, allocative efficiency change, input-price effect, and cost scale efficiency change. Empirical results show a productivity improvement of 7.17% during this period, which is mainly due to the cost saving in allocative efficiency and the improvement in cost scale efficiency. This improvement in productivity in the B&BP industry would most likely not be identified were the analysis conducted from either the traditional input-oriented or the output-oriented Malmquist productivity approach. The paper further applies the fixed-effects panel data regression analysis to investigate the role of R&D and market risk management of the B&BP industry in the cost Malmquist productivity improvement in Taiwan.

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