Research On Performance Evaluation Of R&D Investment Of Listed Biopharmaceutical Enterprises Based On DEA Analysis Method

In recent years,the blood product industry has received increasing attention due to its important role,and as one of the important sectors of the biological product industry,it has developed rapidly.,Especially in recent years,according to research results released by the blood product industry,the average comprehensive annual growth rate of the blood product industry in the past 10 years has been over 20%.At present,the development of blood products industry in China is not balanced under the dual pressure of strong policy supervision and huge access threshold.R&D innovation is the mainstream of the world today,and is also the focus of government support and guidance.Especially for the pharmaceutical industry,R&D investment is of great significance.With advanced products and efficient R&D teams,you can gain great advantages in the future competition.Compared with foreign advanced pharmaceutical companies,our national pharmaceutical enterprises generally lack investment in research and development,and the products under research are mostly generic drugs.Therefore,there is still much discussion on the strength and selection of R&D investment.One of the main problems at present is to choose an appropriate performance evaluation method to evaluate the R&D investment of enterprises objectively and reasonably,to measure the actual effect of R&D investment,so as to avoid blind and ineffective investment.Because there are very few studies on the research and development investment and enterprise performance in the biopharmaceutical industry,especially in the blood products industry,this paper attempts to use the data envelopment analysis(DEA)to conduct relevant performance evaluation analysis on the research and development investment of the selected case enterprises to explore the impact of their research and development investment on enterprise performance.It is mainly divided into the following stages:Firstly,by examining the background of the research object and consulting relevant literature,we understand the current status of relevant argumentation on research and development investment and enterprise performance in the pharmaceutical industry.At the same time,we also provide an overview of the principles and methods of performance evaluation.By comparing different performance analysis methods,we introduce a system of research and development investment and performance evaluation,and also provide an overview of the principles and methods of performance evaluation,And elaborated on the advantages and necessity of choosing the DEA analysis method,and interpreted the relevant concepts of enterprise performance,providing theoretical support for the establishment of a performance evaluation system below.Then,the development history and case studies of the biopharmaceutical industry,which mainly produces blood products,were introduced and discussed,demonstrating the necessity and importance of research.By comparing and collecting business data from six major listed blood product companies in China,a brief overview of the current research and development investment and enterprise development in the field of blood products was provided.At the same time,some difficult and unsolvable problems were raised in traditional data comparison and analysis,laying the foundation for the following data analysis.Finally,by selecting the performance indicators of 10 listed blood products companies at home and abroad from 2017-2021 as samples,selecting the R&D expenditure input and the number of R&D personnel as input variables,and the main business income and the number of new patents as output variables,the DEA-BCC model is analyzed.The analysis found that the case enterprise S has a relatively large gap with other sample enterprises in terms of pure technical efficiency,scale efficiency and comprehensive efficiency of industrial research and development,which shows that S still has many deficiencies and potentials in terms of operation management,team building,subject selection,resource utilization,product follow-up promotion and capacity expansion.By analyzing the difference in R&D efficiency between domestic blood products companies and overseas blood products leading enterprises,We have found that there is still a significant gap in the investment in product research and development,promotion and capacity expansion of new products,expansion of output value,and efficiency in converting research and development investment into operating income and achievements among our domestic blood product enterprises Therefore,domestic blood products enterprises should pay attention to the improvement of R&D efficiency while investing in R&D expenses,The judgment of R&D decisions should also be more scientific.At the same time,we should increase the promotion of the listed R&D new products,fully tap the potential of the products,and improve the promotion of the new products on the business income of enterprises.In terms of the application of performance evaluation methods,it is found that DEA efficiency evaluation method is applicable to the blood product industry.Through analysis,it is found that DEA analysis method has its own advantages compared with traditional analysis methods.It can not only eliminate many interference factors,but also objectively reflect the efficiency relationship between input indicators and output indicators.Therefore,the author believes that DEA data analysis method has a wide range of application in analyzing comparable data of the same type,It is worth promoting.