Empirical Research On Analysis Of Differences In The Efficiency Of Technological Innovation Between Zhejiang Province Listed Pharmaceutical Companies And The World’s Leading Pharmaceutical Companies And Its Factors

Foreign pharmaceutical companies for the quantitative study of the efficiency of technological innovation began in early1970s, while domestic research just to stay in the exploratory stage, the authority has not yet formed in the evaluable and measurable system, studying the efficiency of pharmaceutical companies for technological innovation, technological change and economic growth on the pharmaceutical industry is of great significance.This paper based on establishment of the efficiency of technological innovation evaluation system with inputs and outputs indicators on the pharmaceutical company, the first by the improved DEA model with AHP restraint cone to analysis and super-efficient rank the value of the efficiency of various types of technological innovation in the16Zhejiang listed pharmaceutical companies between2006and2010; followed by the relative effectiveness evaluation of collection methods to variance analysis and super-efficient rank the16Zhejiang Province listed pharmaceutical companies and16leading global pharmaceutical companies for technological innovation efficiency values; again, by panel data models using GMM estimation methods for evaluating Zhejiang Province pharmaceutical companies, the study found the main factors affecting the efficiency of technological innovation.The innovation of this paper has three main points:First, the use of improved DEA model with AHP restraint cone; the second is the variance analysis by using relative effectiveness of evaluation methods among collections; third is using GMM model to prevent random interference and allow the existence of heteroscedasticity to study influencing factors. These methods are first applied to pharmaceutical companies measuring and analysising the efficiency of technological innovation,this study on technical innovation for the pharmaceutical industry lay the foundation for further research. Research results of this paper is drawn32pharmaceutical companies ranking and improval methods on non-technological innovation.Study found that the efficiency of technological innovation as the main factors are investment in R&D technician, intensity of R&D funds, managerial levels within business.The results of study on Zhejiang Province pharmaceutical companies is in the instructive significance, to upgrade and provide policy information for national and local pharmaceutical industry.