Chen, Chen-Ming; Sheng, Tzu-Chun; Yang, Yung-Lieh - In: Journal of Economics and Management 11 (2015) 1, pp. 69-100
Based on the two-step stochastic Meta frontier model developed by Huang et al. (2011), this study establishes translog cost functions. Our purpose is to estimate the performance of firms in terms of cost efficiency in Taiwan’s biotech and pharmaceutical industry, and to analyze group-specific...