Search

Byline: Yao-Chun Lee, Yu-Hsueh Hsu, Jaw-Ming Chen This paper presents a study of 37 biopharmaceutical firms in China during 20022004. Malmquist-DEA and linear regression for panel data were used to analyse the effect of Technical Growth Rate (TGR) and Efficiency Growth Rate (EGR) on Sales Volumes Growth Rate (SGR). Sales volume is the single output. Fixed assets, non-technical staff number and technical staff number are the three inputs. All nominal terms are transformed into real terms in 2002 prices by GDP deflators. Our major findings are as follows: (1) Average Efficiency Growth Rate (AEGR) and Average Real Sales Volumes Growth Rate (ASGR) of small and medium firms have similar trends. (2) AEGR, Average Technical Growth Rate (ATGR) and ASGR are different trends for large firms. (3) The EGR and TGR significantly affect the SGR of biopharmaceutical firms. (4) The ATGR of large firms is greater than that of small and medium firms. (5) The AEGR of small and medium firms is greater than that of large firms.