| Summary: | 碩士 === 國防管理學院 === 國防財務資源研究所 === 91 === Bio-technology is a new developing industry in Taiwan. Not only More and more new technologies are developed, but also research pay more attentions on them than ever. Therefore, the diversified and multiple characteristics of this market have being attracted many new companies willing to join it. Most literatures relating with biotech focus on the introductions of developments of new technologies, few of them discuss the rankings of bio-technology financial performances systematically.
In this paper, we select 12 public firms of qualified bio-technological company, which are already well defined by the National Science Council. Firstly, financial indexes, such as financial Structure, pay debt ability, operation ability, profitability and growing capability e.t.c., are adopted to extract important and representative measures by using the method of Grey correlation. 17 financial indexes are extracted from 27 financial measures are predicted, and ranking results are obtained. The empirical results show that the prediction of performance rankings is strongly positive correlated with the actual ranking results. It implies that Gray theory is an effective analytical tool in this kind of research.
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