| Summary: | 碩士 === 國立臺灣大學 === 經濟學研究所 === 106 === This research uses data from 2008 to 2016 to explore the determinants of innovations in the biotechnology industries in Taiwan. The biotechnology firms are categorized into three sectors: pharmaceutical industry, medical devices industry and applied biotechnology industry. And I investigate the effect of research and development expenditures, regional spillover effects, government subsidies, firm characteristics and industry category dummies on innovation performance. Innovation performance is measured by the patent applications in the United State Patent & Trademark Office.
The empirical analysis finds that R&D investment in the previous year can effectively increase innovation performance. Furthermore, the effect of R&D in the medical device industry is significantly higher than that of firms diversifying in different biotechnology industries, which is in turn higher than the effect in the pharmaceutical industry and applied biotechnology industry. I also find a positive spillover effect. Innovation performance is enhanced by R&D investments of other firms in the same region.
When I pool the data from the whole sample period, I find that R&D expenditures are still an important factor in the innovation output, and the government subsidies are slightly positive. In addition, the export ratio of manufacturers has a positive effect on patent applications, and the medical devices manufacturers have more patent applications than manufactures in the other two industries.
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