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研究生:李主平
研究生(外文):Chu-Ping Li
論文名稱:專利在公司獲利能力之遞延效果的研究-以美國製藥業為例
論文名稱(外文):The Study of the Time Lag Effect of Patent Impact on the Profitability of companies: An Empirical Study of U.S. Pharmaceutical Industry
指導教授:耿筠耿筠引用關係廖本哲廖本哲引用關係
指導教授(外文):Yun KenP. C. Liao
學位類別:碩士
校院名稱:中原大學
系所名稱:企業管理研究所
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:2005
畢業學年度:93
語文別:中文
論文頁數:62
中文關鍵詞:獲利能力製藥業遞延效果專利質量資源基礎
外文關鍵詞:ProfitabilityResource-basedImpact of PatentValue of PatentPharmaceutical IndustryTime Lag
相關次數:
  • 被引用被引用:23
  • 點閱點閱:658
  • 評分評分:
  • 下載下載:143
  • 收藏至我的研究室書目清單書目收藏:13
專利影響力最終表現在新產品的品質、成本或銷售等之上,而新產品上市才有獲利回收的可能,故專利所帶來的效果,應會透過品質提升、成本降低或銷售增加後,最終反映在公司之獲利能力上,而從專利的取得到上市獲利,有一段的時間落差,過去的文獻僅就一般商品作為研究標的,得出專利在銷售額有2到3年的遞延效果,而與其他商品不同的是,藥品上市需經過政府相關機關的審查,勢必導致上市時間的延遲,其遞延時間可能因此比一般商品長;但對於上市流程特殊,且專利保護影響大的藥品專利並無人著墨,故引起本研究之研究動機。
本研究就專利權與公司獲利能力間的關係進行探討,期望達到下列目的:
一、實證專利權質量與公司獲利能力間具有關連性,
二、實證專利權質量與公司獲利能力間具有遞延時間效果。
本研究透過資源基礎理論、製藥業特性及相關文獻之探討,推論出專利質量對公司獲利能力之影響可能遞延八年。
本研究以多元迴歸方法,就專利質量資料與公司獲利能力資料進行九個年度(包含當年度)的實證分析,並就此九個年度的回歸模型進行顯著性檢定及相關性比較,發現專利質量與公司獲利能力中的股東權益報酬率及每股盈餘有顯著的關聯性,且從相關程度的分布中,發現,專利質量分別與股東權益報酬率具有4年的遞延時間效果,與每股盈餘則有5年的遞延時間效果。本研究認為製藥業確實比先前研究所得出的遞延時間長。
The impact of patents would eventually be revealed on qualities, cost, or sales of new products. So the value of a good patent would raise the qualities and sales of new products or reduce the cost of new products. Anyway, the value of patents would be revealed on profitability. However, there is a time lag between issued a patent to raising the profits. One previous literature found 2 to 3 years time-lag for commodities. But there are some differences between common products and medicines. One of the differences is it has to pass the investigation by Government to get a license before entering the medicines into the market. So the time lag of the medicine patents would be longer than other products. However, in this topic, there are no literatures in the past study.
The follows are the purposes in this study:
1.Prove there is a relationship between the effect of patents and profitability.
2.Prove there is effect of the time lag between the effect of patents and profitability.
After probing into the past literatures about time lag, the indexes of patents and profitability, and Resource-based Theory, we get the indexes of patents and profitability, and the probable time lag of 8 years. Then we test the relationship between the indexes of patents and the ones of profitability by Regression.
We find there are obvious relationships between the indexes of patents and the rate of return on stockholders’ equity. And we also find there are obvious relationships between the indexes of patents and earnings per share. Moreover, we find there is time lag of 4 years between the indexes of patents and the rate of return on stockholders’ equity. And we also find there is time lag of 5 years between the indexes of patents and earnings per share. We consider the time lag in Pharmaceutical Industry is longer than the result of the previous study.
目次

摘要………………………………………………………………………… I

致謝………………………………………………………………………… III

目錄………………………………………………………………………… IV

表目錄……………………………………………………………………… VI

圖目錄……………………………………………………………………… VII

第一章 緒論 ……………………………………………………………… 1
第一節 研究動機 …………………………………………………… 1
第二節 研究目的 …………………………………………………… 2
第二章 文獻探討 ………………………………………………………… 3
第一節 製藥業之概說 ……………………………………………… 3
第二節 資源基礎觀點 ……………………………………………… 7
第三節 專利權質量的衡量 ………………………………………… 16
第四節 公司獲利能力的衡量 ……………………………………… 23
第三章 研究設計 ………………………………………………………… 27
第一節 研究架構 …………………………………………………… 27
第二節 研究流程 …………………………………………………… 28
第三節 變數定義 …………………………………………………… 29
第四節 樣本選取流程及資料來源 ………………………………… 32
第五節 研究方法 …………………………………………………… 33
第四章 實證結果與分析 ………………………………………………… 36
第一節 迴歸模式顯著性檢定 ……………………………………… 36
第二節 多元迴歸模型分析 ………………………………………… 38
第五章 結論與建議 ……………………………………………………… 45
第一節 研究結論 …………………………………………………… 45
第二節 研究限制 …………………………………………………… 46
第三節 建議 ………………………………………………………… 47
參考文獻…………………………………………………………………… 49
中文部分……………………………………………………………… 49
英文部分……………………………………………………………… 50
網站資源……………………………………………………………… 53

表目次
表2-1 策略性資源的內涵………………………………………………… 11
表2-2 以企業功能劃分之核心資源與能力……………………………… 12
表2-3 核心資源的內涵…………………………………………………… 13
表2-4 專利指標的提出…………………………………………………… 20
表2-5過去研究學者及研究機構所使用的專利指標 …………………… 22
表4-1 PM各年度迴歸模型顯著性………………………………………… 36
表4-2 GPOS各年度迴歸模型顯著性……………………………………… 36
表4-3 ROA各年度迴歸模型顯著性 ……………………………………… 36
表4-4 ROE各年度迴歸模型顯著性 ……………………………………… 37
表4-5 EPS各年度迴歸模型顯著性 ……………………………………… 37
表4-6各迴歸模型顯著性(P值) ………………………………………… 38
表4-6 ROE各年度迴歸模型結果 ………………………………………… 38
表4-7 EPS各年度迴歸模型結果 ………………………………………… 42

圖目次
圖2-1 資源為利潤的基礎………………………………………………… 9
圖2-2 資源基礎模式……………………………………………………… 15
圖3-1 本研究架構………………………………………………………… 28
圖3-2 本研究流程………………………………………………………… 28
圖3-3 本研究樣本選取流程……………………………………………… 33
圖4-1 ROE模型之R2值分佈圖(P<0.05) ………………………………… 39
圖4-2 ROE模型之調整後R2值分佈圖(P<0.05)………………………… 40
圖4-3 ROE模型之R2值分佈圖(P<0.1) ………………………………… 41
圖4-4 ROE模型之調整後R2值分佈圖(P<0.1) ………………………… 41
圖4-5 EPS模型之R2值分佈圖(P<0.05) ………………………………… 43
圖4-6 EPS模型之調整後R2值分佈圖(P<0.05) ………………………… 43
圖4-7 EPS模型之R2值分佈圖(P<0.1) ………………………………… 44
圖4-8、EPS模型之調整後R2值分佈圖(P<0.1) ………………………… 44
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7 林渝寰(2004),「研究機構創新研發成果衡量指標之建立」,2004科技創新競爭力與研發成果指標論壇論文集,台北。
8 周雯菁(1994),「公司上市前後經營績效之實證研究」,國立台灣大學會研學研究所未出版碩士論文。
9 馬登超(1996),製藥產業現況與趨勢專題研究,台北:財團法人技術開發中心。
10 高新發(2000),「台灣本土藥廠技術策略建構與經營策略探討(以生達製藥公司為例)」,國立中山大學管理學院高階經營碩士班碩士論文。
11 高淑芬(1995),「資源特性與合作策略關係之研究—以資源基礎觀點」,國立中興大學企業管理研究所碩士論文。
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13 陳順煜(1990),「企業社會責任與財務績效關係之實證研究」,大同工學院事業經營研究所未出版之碩士論文。
14 陳達仁、黃慕萱、劉江彬、楊牧民(2004),「從美國專利看台灣企業科技創新競爭力」, 2004科技創新競爭力與研發成果指標論壇論文集,台北。
15 陳肇榮(1983),「運用財務比率預測企業財務危機之實証研究」,國立政治大學企業管理研究所博士論文。
16 葉金成(1978),「股票上市優良與不優良企業財務特性之研究」,國立政治大學企業管理學研究所碩士論文。
17薛明莉(1981),「台灣地區股票上市公司會計獲利能力衡量方法與股票報酬率關係之研究」,台灣大學商學研究所未出版碩士論文。

18 鄭丁旺、汪泱若、黃金發 (2003),初級會計學(下),第八版,自刊。
19 劉江彬、耿筠(2004),「專利運用與授權評估指標系統之研究」,2004科技創新競爭力與研發成果指標論壇論文集,台北。
20 謝銘洋(1997),智慧財產權之基礎理論,第二版,台北:自刊,p. 32。
21 謝龍發、林晉寬(1995),「以資源基礎理論探討策略聯盟之管理機制」,明志工專學報,第二十七期,頁131-143。

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網站資源:
1 世界專利權組織
www.wipo.int/about-ip/en/
2 CHI Research網站
www.chiresexrch.com/about/data/tech/indicator.php3
3 中華民國經濟部智慧財產局網站
www.tipo.gov.tw
4 台灣證券交易所公開資訊觀測站
newmops.tse.com.tw
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