{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,3]],"date-time":"2026-01-03T15:14:35Z","timestamp":1767453275079},"reference-count":37,"publisher":"World Scientific Pub Co Pte Lt","issue":"01","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Asia Pac. J. Oper. Res."],"published-print":{"date-parts":[[2014,2]]},"abstract":"<jats:p> This paper explores the operational and market efficiencies of various biotechnological company formats in Taiwan during the period 2006 to 2008 by adopting the two-stage directional distance function and the meta-frontier concept. It conducts an efficiency assessment by taking into account a five-year time lag between R&amp;D investments and actually obtaining a patent in order to better reflect the actual business operating process and thus more accurately gauge the efficiency of business operations in biotechnological companies. The empirical results show that non-listed companies registered better operational efficiency in the first stage, whereas their market efficiency in the second stage is inferior to that of listed companies when the meta-technology set is used as a basis. The average operation gap ratio and market gap ratio of non-listed companies exceeded those of listed firms, indicating that the technological heterogeneity (i.e., the gap) of non-listed companies is smaller than that of listed ones. <\/jats:p>","DOI":"10.1142\/s0217595914500079","type":"journal-article","created":{"date-parts":[[2013,10,28]],"date-time":"2013-10-28T00:51:06Z","timestamp":1382921466000},"page":"1450007","source":"Crossref","is-referenced-by-count":1,"title":["TWO-STAGE EFFICIENCY MEASUREMENT AND TECHNOLOGICAL HETEROGENEITY: EVIDENCE FROM THE BIOTECHNOLOGICAL INDUSTRY IN TAIWAN"],"prefix":"10.1142","volume":"31","author":[{"given":"YUNG-HSIANG","family":"LU","sequence":"first","affiliation":[{"name":"Department of Bio-industry and Agribusiness Administration, National Chiayi University, No. 580, Sinmin Road, Chiayi City, 600, Taiwan"}]},{"given":"YUNG-HO","family":"CHIU","sequence":"additional","affiliation":[{"name":"Department of Economics, Soochow University, No. 56, Sec.1, Kuei-yang Road, Taipei 100, Taiwan"}]},{"given":"CHING-REN","family":"CHIU","sequence":"additional","affiliation":[{"name":"Institute of Service Management, National Penghu University of Science and Technology, No. 300, Liuhe Road, Magong city, Penghu County, 880, Taiwan"}]},{"given":"YU-CHIAO","family":"HUNG","sequence":"additional","affiliation":[{"name":"Department of Bio-industry and Agribusiness Administration, National Chiayi University, No. 580, Sinmin Road, Chiayi City, 600, Taiwan"}]}],"member":"219","published-online":{"date-parts":[[2014,2,28]]},"reference":[{"key":"rf1","doi-asserted-by":"publisher","DOI":"10.1002\/mde.1145"},{"key":"rf2","doi-asserted-by":"publisher","DOI":"10.1504\/IJBT.2005.007632"},{"key":"rf3","doi-asserted-by":"publisher","DOI":"10.1006\/jema.1997.0146"},{"key":"rf4","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2010.08.025"},{"key":"rf5","doi-asserted-by":"publisher","DOI":"10.1016\/S0038-0121(99)00012-9"},{"key":"rf6","doi-asserted-by":"publisher","DOI":"10.1016\/j.respol.2003.09.009"},{"key":"rf7","doi-asserted-by":"publisher","DOI":"10.1016\/j.respol.2003.12.004"},{"key":"rf8","doi-asserted-by":"publisher","DOI":"10.1016\/j.technovation.2006.07.001"},{"key":"rf9","first-page":"173","volume":"4","author":"Hariolf G.","journal-title":"International Journal of the Economics of Business"},{"key":"rf10","doi-asserted-by":"publisher","DOI":"10.1016\/j.respol.2008.08.004"},{"key":"rf11","doi-asserted-by":"publisher","DOI":"10.2307\/1911191"},{"key":"rf12","doi-asserted-by":"crossref","first-page":"237","DOI":"10.1108\/14691930510592825","volume":"6","author":"Huang C. J.","journal-title":"Journal of Intellectual Capital"},{"key":"rf13","first-page":"699","volume":"23","author":"Hwang S. N.","journal-title":"International Journal of Management"},{"key":"rf14","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2006.11.041"},{"key":"rf15","first-page":"422","volume":"12","author":"Kim M. K.","journal-title":"Clustering Enhances Productivity"},{"key":"rf16","doi-asserted-by":"publisher","DOI":"10.1016\/0165-4101(95)00410-6"},{"key":"rf17","first-page":"140","volume":"25","author":"Liang S. K.","journal-title":"International Journal of Management"},{"key":"rf18","doi-asserted-by":"publisher","DOI":"10.1142\/S0217595906000930"},{"key":"rf19","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2008.09.006"},{"key":"rf20","doi-asserted-by":"publisher","DOI":"10.1016\/S0148-2963(01)00293-4"},{"key":"rf21","first-page":"28","volume":"78","author":"McConomy B.","journal-title":"CMA Management"},{"key":"rf22","doi-asserted-by":"publisher","DOI":"10.1016\/0048-7333(92)90032-Y"},{"key":"rf23","doi-asserted-by":"publisher","DOI":"10.1007\/s00181-007-0119-4"},{"key":"rf24","doi-asserted-by":"publisher","DOI":"10.1111\/j.1465-7295.1995.tb01882.x"},{"key":"rf25","doi-asserted-by":"publisher","DOI":"10.1080\/00036848200000036"},{"key":"rf26","doi-asserted-by":"publisher","DOI":"10.1057\/palgrave.jors.2602280"},{"key":"rf27","doi-asserted-by":"publisher","DOI":"10.1111\/j.1475-3995.2009.00668.x"},{"key":"rf28","doi-asserted-by":"publisher","DOI":"10.1287\/mnsc.45.9.1270"},{"key":"rf29","doi-asserted-by":"publisher","DOI":"10.1023\/A:1022861618317"},{"key":"rf30","first-page":"679","volume":"8","author":"Sheng T. C.","journal-title":"Journal of Modern Accounting and Auditing"},{"key":"rf31","first-page":"44","volume":"69","author":"Sougiannis T.","journal-title":"Accounting Review"},{"key":"rf32","doi-asserted-by":"publisher","DOI":"10.1016\/S0737-6782(97)00028-3"},{"key":"rf33","doi-asserted-by":"publisher","DOI":"10.1007\/BF01073493"},{"key":"rf34","first-page":"353","volume":"37","author":"Yang Y. L.","journal-title":"Taiwan Economic Review"},{"key":"rf35","first-page":"59","volume":"87","author":"Yang Y. L.","journal-title":"Taiwan Journal of Applied Economics"},{"key":"rf36","doi-asserted-by":"publisher","DOI":"10.1016\/j.tourman.2008.09.005"},{"key":"rf37","doi-asserted-by":"publisher","DOI":"10.1016\/S0377-2217(99)00096-X"}],"container-title":["Asia-Pacific Journal of Operational Research"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.worldscientific.com\/doi\/pdf\/10.1142\/S0217595914500079","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2019,8,6]],"date-time":"2019-08-06T15:15:02Z","timestamp":1565104502000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.worldscientific.com\/doi\/abs\/10.1142\/S0217595914500079"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2014,2]]},"references-count":37,"journal-issue":{"issue":"01","published-online":{"date-parts":[[2014,2,28]]},"published-print":{"date-parts":[[2014,2]]}},"alternative-id":["10.1142\/S0217595914500079"],"URL":"https:\/\/doi.org\/10.1142\/s0217595914500079","relation":{},"ISSN":["0217-5959","1793-7019"],"issn-type":[{"value":"0217-5959","type":"print"},{"value":"1793-7019","type":"electronic"}],"subject":[],"published":{"date-parts":[[2014,2]]}}}