Evaluation Of The Innovation Efficiency Of Listed Pharmaceutical Manufacturing Companies On The Basis Of Shared Investment Associated DEA

Innovation is the first driving force of development.The improvement of innovation efficiency and innovation output and the realization of innovative development are the practical choices of the pharmaceutical manufacturing companies in our country at the present stage.In this paper,the author first proposed and established the shared investment innovation activity system for pharmaceutical manufacturing companies pursuant to relevant theories of innovation efficiency,previous studies and the actual situation of stages and sharing of resources in the innovation activities of pharmaceutical manufacturing companies.Secondly,basing on the shared investment innovation activity system for pharmaceutical manufacturing companies,the author selected the DEA models associated with the two stages of shared investment and built the evaluation index system.After that,from the static and dynamic perspectives,the author measured and analyzed the innovation efficiency,the efficiency of technology research and development stage,and the efficiency of achievement transformation stage from 88 listed pharmaceutical manufacturing companies in China respectively.The research indicated that: the overall innovation efficiency of pharmaceutical manufacturing companies in our country is relatively low,with great waste of resources and the mean value of innovation efficiency at about 0.6;most of the companies adopted extensive innovation.Less than 10% of the pharmaceutical manufacturing companies performed effective innovation activities;about 50% of the pharmaceutical manufacturing companies showed the innovation efficiency between 0.5 and 0.75;the number of companies with innovation efficiency below 0.5 presented a growing tendency.The innovation efficiency of Traditional Chinese Medicine(TCM)companies and biological pharmaceutical companies was higher and the efficiency between companies more balanced;the innovation efficiency of chemical companies and comprehensive companies was lower,and the efficiency between companies differentiated.All companies presented lower efficiency in the achievement transformation stage generally.Meanwhile,nearly half of the companies had high efficiency in technology research and development,but low efficiency in the transformation of achievements.In addition,about two-thirds of the companies presented an achievement-transformation efficiency lower than 0.5.Moreover,the companies with achievement transformation efficiency evaluated as 1 basically matched those with innovation efficiency evaluated as 1.