Research On Technology Innovation Efficiency Of Pharmaceutical Enterprises Based On DEA Method

Technological innovation is a key factor to promote the transformation of pharmaceutical companies.While the academic and industrial communities focus on the amount of innovation investment,the issue of technological innovation efficiency is also worth studying,which has important reference significance for optimizing the innovation investment structure of pharmaceutical companies and achieving the healthy development of pharmaceutical companies.Objective: In this paper,the panel data of pharmaceutical companies’ technological innovation listed on the Shanghai and Shenzhen stock exchanges are used as samples;from the perspectives of comprehensive technical efficiency,pure technical efficiency,scale efficiency,and the industry segments to which pharmaceutical companies belong,the technology innovation resource allocation of Guangdong,Shandong,Zhejiang,and Jiangsu pharmaceutical companies was studied from 2015 to 2017.Methods:Expert consulting and literature research methods are used to construct an innovation efficiency evaluation index system for pharmaceutical companies;based on the data envelope analysis theory,a VRS envelope model and scale are established A CRS model with constant returns;using date envelopment analysis software MaxDEA to calculate the technological innovation efficiency of sample enterprises.Result of study:(1)The VRS model measures the technical innovation efficiency of 123 decision-making units,and 79% of the research unit innovation efficiency is less than 0.6.(2)The research results show that 73% and 66% of the decision-making units’ pure technical efficiency and scale efficiency are at the low and medium efficiency levels.Decomposition of the comprehensive technical efficiency of the decisionmaking units found that the average values of pure technology efficiency and scale efficiency of all evaluation objects were 0.6535 and 0.6599,the efficiency levels of the two are very different.(3)The number of new invention patents and operating income are used as the research object’s innovation output indicators.There are 117 non-DEA effective decision units.The average technological output of each decision unit is less than 1 patent.The deficit was 590 million yuan.(4)From the perspective of research object scale returns,the scale returns of 91% of the evaluation units are increasing.(5)The measurement results of the technological innovation efficiency of pharmaceutical companies show that the innovation efficiency of Chinese medicine,chemical pharmaceutical,and biological products companies are 0.5323,0.3816,and 0.2770 respectively.In view of the relaxation variables of the sub-sectors to which the sample companies belong,the traditional Chinese medicine companies have redundant investment in innovation.And insufficient innovation output are less than those of chemical and pharmaceutical companies.(6)From the perspective of different provinces,the innovation efficiency of the sample enterprises from 2015 to 2017 is: Guangdong> Jiangsu> Shandong> Zhejiang.Decomposition of innovation efficiency found that the pure technology efficiency of Jiangsu and Zhejiang pharmaceutical companies ’innovation activities were 0.7240 and 0.5650 respectively,corresponding to the first and last places in the four provinces;Guangdong and Shandong pharmaceutical companies’ technological innovation scale efficiency was 0.7531 and 0.6061 respectively,corresponding to four First and last place in the province.The main research conclusions:(1)From 2015 to 2017,the innovation efficiency levels of Guangdong,Shandong,Zhejiang,and Jiangsu pharmaceutical companies were generally low,and there was considerable room for improvement in effective utilization of innovation resources.(2)During the study period,pure technological efficiency and scale efficiency together restricted the technological innovation efficiency progress of pharmaceutical companies.(3)Insufficient economic income and output are the practical problems faced by the technological innovation of most pharmaceutical companies in China.(4)During the survey period,90% of the sample companies increased their returns on scale.It is speculated that the returns on scale of pharmaceutical manufacturers in China are mainly increasing.It is believed that the scale returns of most pharmaceutical companies in China are increasing.It is recommended that pharmaceutical companies with increasing returns to scale increase their technological innovation input in a modest amount to achieve 1 + 1> 2 innovation output and achieve economies of scale.(5)The technological innovation efficiency of Chinese pharmaceutical companies is higher than that of chemical pharmaceutical and biological products companies.(6)The innovation activities of pharmaceutical enterprises in Jiangsu Province have the advantage of pure technical efficiency,and the technological innovation of Guangdong pharmaceutical enterprises has the advantage of scale efficiency.It is considered that during the study period,pharmaceutical companies in Jiangsu Province and Guangdong Province have the advantages of pure technical efficiency and scale efficiency respectively;pure technical efficiency in innovation activities of Zhejiang pharmaceutical companies,and scale efficiency of technological innovation in Shandong pharmaceutical companies are at a relatively disadvantaged position.