本研究使用中國大陸製藥工業之上市公司及部分非上市公司1999年至2010年之財務與非財務資訊做為樣本觀察值，探討研發密集度在企業競爭與經營績效中所扮演的角色，研究結果顯示企業專利佔有率與經營績效具有顯著正向關係，而企業專利佔有率的變動數與企業產值排名的變動情形亦呈現顯著正向關係，顯示研發密集度與企業競爭優勢息息相關。本研究並以前項結果作為基礎，進一步分析產業內績效領先企業群專利佔有率異常上升時，競爭企業是否會透過提升研發密集度或是行銷支出密集度來做為因應，而研究結果指出領先企業群之專利佔有率異常上升時，會導致研發密集度較高的企業異常提升其研發密集度，並導致研發密集度較低的小型企業大幅提升行銷支出。本研究結論專利對企業經營績效具有正向影響，並能替企業帶來競爭優勢，同時企業亦將專利視為競爭優勢之主體，對於競爭者的專利策略會予以因應。本研究建議企業在形成策略時，應綜合考量產業結構、核心資源以及競爭者的競爭性行為或可能的回應。

The present study investigates the role of granted patents in determining industry competition and operating performance. The sample consists of Chinese public and private companies in the pharmaceutical industry from 1999 to 2010. The findings show that the quantity of patent is positively associated with operating performance and that the change of patent count is also positively associated with the ranking of market share. Moreover, the results show that the change of patent counts of leading companies has a positive impact on followers’ innovation activities and marketing activities. Overall, the evidence suggests that patent plays an important role in company competition and that companies response to the R&D(patent)strategy of their competitors in the market.

第壹章、 緒論 1
第一節、 研究動機與目的 1
第二節、 論文架構 3
第貳章、 文獻探討 4
第一節、 領先企業與追隨者之競爭 8
第二節、 動態競爭 10
第三節、 無形資產 4
第四節、 中國市場與中國專利法 14
第五節、 中國醫藥市場發展狀況 14
第參章、 研究方法 16
第一節、 研究假說 16
第二節、 研究變數 18
第三節、 樣本資料 29
第四節、 實證模型 35
第肆章、 研究結果 36
第一節、 樣本描述 37
第二節、 樣本敘述性統計量 39
第三節、 企業專利佔有率與經營績效實迴歸結果分析 52
第四節、 企業專利佔有率與排名變動迴歸結果分析 55
第五節、 領先企業群企業專利占有率與企業研發密集度迴歸結果分析 58
第伍章、 結論與建議 69
第一節、 研究結論 69
第二節、 研究建議 71
參考文獻 72

中文部分
林豪傑、喬友慶與侯勝宗，2008，動態競爭策略探微，台北: 智勝文化事業有限公司
吳思華，2003(初1996)，策略九說，台北: 城邦文化事業股份有限公司
陳政陽，2011，中國製藥產業發展- 雙元分裂的未來或整合的前奏，國立政治大學國家發展研究所論文
周江燕，2012，研發投入與企業經營績效之相關性研究，工業技術經濟期刊
溫士賢，2002，研發、廣告與人力支出和企業價值之關聯性探討- 以台灣上市櫃企業為例，國立台灣大學會計系碩士論文
鄭人維，2010，專利資訊與分析師盈餘預測，國立政治大學會計學系碩士論文
SFDA,《2010年度中國醫藥市場發展藍皮書》, http://news.xinhuanet.com/health/2010-11/05/c_12741594.htm

英文部分
(BOOK)
Robert S. Kaplan and David P. Norton. 2003. Strategy Maps. Harvard Business School Publishing Corporation
Penrose. 1959. The Theory of the Growth of the Firm
Collis, David J., and Montgomery Cynthia. A Corporate strategy: Resources and the scope of the firm. Chicago: Irwin
Schumpeter, J. 1942. Capitalism, Socialism & Democracy
Peter M. Senge. 1990. The Fifth Dicipline - The Art and Practice of the Learning Organization

(Journal paper)
Acs, Zoltan J. and Audretsch, David B. 1988. Innovation in Large and Small Firms: An Empirical Analysis. The American Economic Review (AER). 78(4), 678 - 90.
Ahuja, G. 2000. Collaboration networks, structural holes, and innovation: A longitudinal study. Administrative Science Quarterly, 45(3):p 425-455.
Bansi Nagji and Geoff Tuff. 2012. Managing Your Innovation Portfolio. Harvard Business Review, 69:
Barney, J. 1991. Firm Resources and Sustained Competitive. Advantage, Journal of Management, 17, 99-120
Bronwyn H. Hall, Adam Jaffe, and Manuel Trajtenberg. 2005. Market Value and Patent Citations. RAND Journal of Economics
Cardinal, L.B. and Opler T.C. 1995. Corporate Diversification and Innovative Efficiency: An Empirical Study, Journal of Accounting and Economics. 19: 365-381
Chen, Ming-Jer and Donald C. Hambrick. 1995. Speed, Stealth, and Selective Attack: How Small Firms Differ from Large Firms in Competitive Behavior. Academy of Management Journal. 38(2): 453-482
Chen, Ming-Jer. 1996. Competitior analysis and interfirm rivalry: toward a theoretical integration. Academy of Management Review. 21(1): 100-134
Chen, Ming-Jer, Smith, Ken G., and Grimm, C. M. 1992. Action Characteristics as predictors of Competitive Response. Management Science. 28: 439-455
Eberhart, A., Maxwell, W., and Akhtar, S.. A Reexamination of the Tradeoff Between the Future Benefit and Riskiness of R&D. Journal of Accounting Research. 46: 27-52.
Ernst, H. 2001. Patent applications and subsequent changes of performance: evidence from time-series cross-section analyses on the firm level. Research Policy, 30(1): p143-157.
Feng Gu. 2005. Innovation, Future Earnings, and Market Efficiency. Journal of Accounting, Auditing. and Finance 20(4): 385–418
Gilbert, Richard J. and Newbery, David M. G. Preemptive Patenting and the Persistence of Monopoly. The American Economic Review (AER). 72(3): 514 - 26.
Jennifer F. Reinganum. 1985. Innovation and Industry Evolution. The Quarterly Journal of Economics. Volume 100 81-99
Jesper B, S., & Stuart, T. E. 2000. Aging obsolescence, and organizational innovation. Administrative Science Quarterly. 45(1): p81-112.
Lev B., Sarath B., Sougiannis T. R&D Reporting Biases and Their Consequences. Contemporary Accounting Research
Lev, B., S. Radhakrishnan, and M. Ciftci. 2006. The stock market valuation of R&D leaders; NYU Working Paper No. 2451/27475
M. Gallon, H. Stillman,and D. Coates. 1995. Putting Core Competency Thinking into Practice. Research Technology Management
Makadok. 2011. The Four Theories of Profit and Their Joint Effects. Journal of Management. 37(5):1316-34
Matolcsy, Z.P. & Wyatt, A. 2008. The association between technological conditions and the market value of equity. The Accounting Review. vol. 83, no. 2, pp. 479-518.
Wernerfelt, B. A Resource-Based View of the Firm. Strategic Management Journal. 5: 272- 280
Zahra, S.A. & J.G. Covin. 1993. Business Strategy, Technology Policy and Firm Performance. Strategic Management Journal. 14: 451–478.