Measuring relative efficiency of government-sponsored R&D projects: A three-stage approach |
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| Authors: | Fang-Ming Hsu Chao-Chih Hsueh |
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| Institution: | 1. International Business School, Shaanxi Normal University, Xi''an 710119, China;2. LeBow College of Business, Drexel University, Philadelphia, PA 19104, USA;1. College of Economics and Management & Research Center for Soft Energy Science, Nanjing University of Aeronautics and Astronautics, Nanjing 210016, China;2. Research Center for Smarter Supply Chain, Dongwu Business School, Soochow University, No. 50 Donghuan Road, Suzhou 215021, China;1. School of Economics, Nanjing University of Finance and Economics, Nanjing 210023, China;2. School of Urban and Regional Science, Shanghai University of Finance and Economics, Shanghai 200433, China;3. School of Economics and Management, Zhengzhou University of Light Industry, Henan 450001, China;4. School of International Economics and Trade, Shanghai Lixin University of Accounting and Finance, Shanghai 201209, China;1. School of Management, Heilongjiang University of Science and Technology, 150022, China;2. School of Economics and Management, Shanghai Ocean University, Shanghai, 201306, PR China |
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| Abstract: | Without considering differences in operating environment, traditional methods of efficiency evaluation are suffering from external environmental influences. This study presents an alternative approach for assessing the relative efficiency of government-sponsored research and development projects (GSP). A three-stage approach employing data envelopment analysis to evaluate efficiency and Tobit regression to control external variables was applied to 110 projects over 9 years. This study finds that firm size, industry, and ratio of public subsidy on research and development (R&D) budget of recipient firm significantly influences the technical efficiency of GSP in Taiwan. After controlling these external variables, the mean value of technical efficiency in the third stage increases and becomes significantly different to that in the first stage. Most GSPs increase their returns when their projects are scaled up. Furthermore, government policy makers must establish the upper-limit ratio of subsidies on R&D budgets of recipient firms to avoid inefficient use of public funds. |
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