| Summary: | 碩士 === 元智大學 === 管理碩士在職專班 === 102 === This study aims to explore the relation between firms' external networks and performance. This study contends that a firm will enhance its performance by possessing more external networks. This study uses the Taiwan biotech industry as the empirical industry. The biotech industry is a technology, capital, and knowledge intensive industry where firms frequently share and exchange information through their external networks in order to cooperate and learn from their partners. The sample of this study includes 37 biotech companies listed in the Taiwan Stock Exchange as well as GreTai Securities Market during the period from 2003 to 2012. This study employs the fixed effect regression model to analyze the panel data consisting of corporate finance, contracts, and patents. The analytical results reveal that the biotech firms' external networks on research and development, supply chain, and joint venture have significant positive impact on firm performance.
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