生物制药企业技术创新能力对企业价值的影响研究

发布时间：2018-06-05 20:58

本文选题：生物制药 + 技术创新能力　；参考：《浙江财经大学》2013年硕士论文

【摘要】：随着中国经济不断飞速发展和国内企业与国际市场进一步的接轨，国内企业不得不开始着手自身的转型升级，目前政府对高新技术产业给予了大力的扶持，其中关乎到民生健康的生物制药企业作为典型的高新技术产业更是受到了政府的高度重视，随着医改政策的落实其发展前景不可估量。生物制药企业作为高新技术企业其技术创新能力无疑是企业发展的根本和企业价值的源泉。目前国内对于该行业的相关研究相对匮乏。目前对于技术创新能力与企业价值关系的研究吸引了大量学者的关注，但是更多的研究关注的是企业作为技术创新投入的研发支出对企业组织绩效的影响和作用，以及技术创新能力的影响因素和评价体系研究，而关于企业技术人员的投入和专利数量的产出和转让情况对企业价值的影响相关研究尚显不足，对于企业技术创新能力对企业价值的影响过程的相关研究更是少有涉及。为此本文以技术创新理论和RD-市场营销界面管理理论为理论基础，以企业价值为研究对象，探讨企业技术创新能力对企业价值的影响和企业市场销售能力在两者之间起到的作用。本文运用描述性统计分析，相关性分析以及多元回归分析的方法，围绕研究内容进行数据的采集与分析、假设的提出、研究模型的构建、相关假设和研究模型的验证。主要研究内容和研究成果如下： 1．本文选择衡量企业技术创新能力的研发支出占总资产的比重、转让专利数量占专利总数的比重以及企业技术人员占在职员工的比重、衡量企业市场销售能力的营业收入增长率和营业净利润率、衡量企业价值的净资产收益率和托宾Q值作为数据采集对象，并且根据以往相关领域的研究引入了广告投入和企业规模两个控制变量，由此构建了本文的研究模型。 2．本文对生物制药上市企业的相关研究数据进行了描述性统计分析，阐述这些企业的技术创新能力、市场销售能力和企业价值的现状。通过分析可以看出我国生物制药企业目前技术创新能力与国际同行相比仍存在较大差距，企业间的差异也比较显著；此外，它们的市场销售能力和企业价值也都存在不同程度的显著差异。 3．通过理论分析和文献回顾，本文提出了23个研究假设，经相关性分析和多元回归分析，18个假设得到了验证，5个假设未得到证实。研究发现企业技术创新能力对企业价值和市场销售能力存在正向影响，且市场销售能力在技术创新能力对企业价值的影响过程中起到中介的作用，本文的控制变量广告投入没有起到控制作用而被剔除出研究模型，另一个控制变量企业规模则很好的体现了控制作用，使研究关系变得更加显著。本文的创新点在于：(1)在选择样本时，充分考虑到了行业的特殊性对于企业技术创新能力的依赖因素，选取了作为高新技术行业的生物制药产业。(2)自变量的衡量指标之一“转让专利数量占专利总数的比重”通过反映产品和专利受到市场认可和接受的程度来充分考虑到了企业技术创新的质量水平，并且研究了这一指标对企业价值的影响。(3)设置了属于企业营销能力一部分的市场销售能力作为中介变量，探讨它对技术创新能力和企业价值之间关系所起到的中介作用，丰富了技术创新能力对企业价值影响途经的探讨和研究。
[Abstract]:With the rapid development of China ' s economy and the further development of domestic enterprises and international markets , domestic enterprises have to start their own transformation and upgrading . At present , the government has given great support to the high - tech industry .

As a high - tech enterprise , it is no doubt the fundamental and enterprise value of the enterprise development . At present , the research on the relationship between technological innovation ability and enterprise value attracts a lot of scholars ' attention . However , more research is concerned about the influence and function of R & D expenditure on organizational performance of enterprises as technological innovation input and the research on the influence factors and evaluation system of technological innovation ability .

Based on the theory of technological innovation and RD - marketing interface management theory , this paper discusses the effect of technological innovation ability on enterprise value and the ability of enterprise market sales .

1 . In this paper , we choose the research and development expenditure of the enterprise ' s technological innovation ability to make up the proportion of total assets , the proportion of the number of transferred patents and the specific gravity of the employees in the enterprise , measure the growth rate of operating income and the net profit margin of the enterprise ' s market selling ability , measure the net asset return rate and the Tobin Q value of the enterprise value as the data acquisition object , and introduce the two control variables of the advertising investment and the enterprise scale according to the research in the previous relevant field , thus the research model is constructed .

2 . In this paper , a descriptive statistical analysis is made on the relevant research data of the bio - pharmaceutical listed companies , and the present situation of technological innovation ability , market selling ability and enterprise value of these enterprises is stated .
In addition , their market selling ability and enterprise value also have different degrees of significant difference .

3 . Through theoretical analysis and literature review , this paper proposes 23 research hypotheses , which are verified by correlation analysis and multiple regression analysis , and 5 hypotheses are not confirmed . The research shows that the technological innovation ability of enterprises has positive impact on the enterprise value and the market sales ability , and the market sales ability plays an intermediary role in the process of the influence of technological innovation ability on the enterprise value .

The innovation point of this paper is : ( 1 ) When selecting a sample , taking fully into consideration the dependence of the industry ' s particularity on the technological innovation ability of the enterprise , the author has chosen the quality level of the enterprise ' s technological innovation by reflecting the degree of market acceptance and acceptance of the product and the patent , and studies the influence of this index on the enterprise value .
【学位授予单位】：浙江财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F426.72;F273.1;F272.5

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