Class of 2010 Abstract / OBJECTIVES: (1) To characterize the long-term performance of the biotechnology sector and the overall market using a Sharpe Ratio analysis (excess return/volatility; α/SD). The null hypothesis tested in this paper is the generalized Sharpe ratio characteristic of the biotechnology sector is identical to that of the overall market. METHODS: 337 companies were identified using Standard Industry Classification code 2836 (Biological Products, (No Diagnostic Substances)) lists from the Center for Research and Security Prices (CRSP) and S&P CompuStat databases. Market data on equity and return were derived from securities price data from the CRSP database. Market data were used to characterize the following measures: Mean Excess Return, Mean Excess Return minus 1% of top earners (trimmed), Volatility (SD),Sharpe Ratio and 1% Adjustment RESULTS: The study finds the biotech industry earned excess returns of 13.84% over time when compared to the overall market ( 5.10%). However, these returns are highly concentrated: When the top 1% of sector earners are removed from analysis, excess return declines below the risk free rate (return of -0.05%) suggesting significant barriers to risk diversification. CONCLUSIONS: The results show the biotechnology sector experiences higher volatility compared with the overall market, as well as higher excess returns. The results justify a rejection of the null hypothesis – that the generalized Sharpe ratio of the biotechnology sector is identical to that of the overall market

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Thesis (M.A.)--Eastern Illinois University, 2010. / Includes bibliographical references (leaves 61-65).

Abstract Laboratory animals play an essential role to level up medical research, life science and biotechnology. On the other hand, animal quality and supply would directly influence the result of research. Since 1940, western countries has been developing the laboratory animal science, and 1990 western countries start to develop biotechnology industry, until 2000, has tremendous growth, especially the human genomic sequence was completed causing the demand of disease model animals increasing and also speed up the development of biotechnology industry. Regarding the biotechnology industry in Taiwan, started in 2000 and has very limit development for laboratory animal industry become an obstacle of biotechnology industry developing. Therefore, it can¡¦t be ignored that laboratory animal industry leveling up and future developing strategy has a high tribute to Taiwan biotechnology. As case study, we got an approval to review two companies how to improve and maintain their competitive advantages through managing process. These two companies are 1) Charles River Laboratories who has more than 50years history and is the largest global laboratory animal supply company; 2) BioLasco Taiwan who is the only one private company in Taiwan producing SPF Rodents. Through Michael Porter¡¦s 5 competitive forces and SWOT together with two companies developing strategies as references of the future development strategy models for government policy making and also for private enterprise who are interested in involving in this industry. The results of this study provides the key developing strategies for Taiwan laboratory animal industry as following aspects: (1) Market globalization : Regionalized marketing and production for SPF laboratory animals and model animals to meet the economy scale in order to reduce the cost and to get more benefits. (2) The diversification of products and services: Excluding laboratory animal supply, breeding equipments production management of animal housing and outsourcing service forming multiple product lines to enhance the industrious competitiveness and expand market potential for risk sharing sake. (3)R&D and talent internationalization: Through national innovation system and human resource integrated, accompany with NIH. Jackson Lab. and other international/ domestic research institutes together developing new products and new technologies to boast the global competitiveness and competitive advantage for Taiwan laboratory animal industry.

Research Project (M.B.A.) - Simon Fraser University, 2006. / Theses (Faculty of Business Administration) / Simon Fraser University. MBA-MOT Program. Senior supervisor : Dr. Elicia Maine.

Thesis (Ph. D.)--Victoria University (Melbourne, Vic.), 2008. / Includes bibliographical references.

I examine investors’ reaction to the announcement of mergers and acquisitions in the pharmaceutical and biotechnology industry from 2002 to 2008. Over this period, investors anticipate the announcements, as demonstrated by the fact that the cumulative abnormal returns are not statistically significant. In addition, I test to determine the effect of excess capacity on investors’ reactions. From 2002 to 2004, investors do not recognize acquisitions as a response to excess capacity, as the excess capacity measures utilized have no effect on the size of the cumulative abnormal return. From 2005 to 2008, however, excess capacity measures have a positive effect on cumulative abnormal return, indicating that investors started to recognize the threat of excess capacity and acquisitions as a response to that threat.

In the era of knowledge economy, human capital is the important capital which enterprise can rely on and maintain the competitiveness, and also the source of power for continuous innovation. To stimulate the working intention of knowledge worker is one of the important tasks for an enterprise to elaborate their human capital. This paper investigates the Biotechnology industry in order to understand that how the presentation of human capital in this knowledge intensive industry affects the innovation performance through the knowledge worker management. By the empirical data and statistic analysis in this paper, the findings are as below: I.The aspects of human capital are: the executives¡¦ direction ability of vision supervisors, the entrepreneurship of employees, the investment and exploitation in human capital, and excellent hire. II.The aspects of knowledge worker management are: the leadership of knowledge, the working styles with challenge, the plan of employees¡¦ development, organic designs of work, reasonable evaluation of performance, and the promotion of knowledge exchange. III.The aspects of innovation performance are: innovation of product and innovation of manufacture. IV.The influences of human capital on innovation performance. 1.The executives¡¦ direction ability of vision supervisors and the investment and exploitation of human capital both have significant positive effects on the innovation of products. Among which the investment and exploitation of human capital effects more than the executives¡¦ direction ability of vision supervisors does. 2.The entrepreneurship of employees has a significant negative effect on the innovation of products; the excellent hire has no significant effect. 3.The executives¡¦ direction ability of vision supervisors and the investment and exploitation of human capital both have significant positive effects on the innovation of manufacture. Among which the investment and exploitation of human capital effects more than the executives¡¦ direction ability of vision supervisors does. 4.The entrepreneurship of employees and excellent hire has no significant effect on the innovation of manufacture. V.The moderating effects on innovation performance from the interaction of human capital and knowledge worker management. 1.The interactions of excellent hire and leadership of knowledge, the working styles with challenge, and reasonable evaluation of performance have significant positive effect on innovation of products. 2.The interaction of the executives¡¦ direction ability of vision supervisors and organic designs of work has significant negative effect on innovation of products. 3.The interaction of the investment and exploitation of human capital and organic designs of work has significant positive effect on innovation of products. 4.The interaction of excellent hire and the plane of employees¡¦ development has significant positive effect on innovation of manufacture. 5.The interaction of the investment and exploitation of human capital and reasonable evaluation of performance has significant negative effect on innovation of manufacture. 6.The interaction of the executives¡¦ direction ability of vision supervisors and the promotion of knowledge exchange has significant positive effect on innovation of manufacture. 7.The interaction of the entrepreneurship of employees and the promotion of knowledge exchange has significant negative effect on innovation of manufacture.

Abstract Bio-technology has been viewed as the ¡§star¡¨ industry in the 21st century. To entrepreneurs around the world bio-technology has offered an enormous opportunity for development. Recently partly because of the encouragement of government incentive programme a large number of bio-tech related firms have been established. In Taiwan these firms are associated with several characteristics: small but innovative; high growth; highly active; technology-intensive; high R& D spending; low on manufacturing; lacking attention to intangible asset and so on. By synthesizing the literature review and intensive case studying, this study has concluded that the bio-tech firms in Taiwan have faced a number of key barriers including lacking of capital and capital trapping, lacking confidence and infrastructure, lacking attention to R&D. This study has adopted, in conjunction with those developed by Chen (year) and Tan (year), the Michael Porter¡¦s diamond model to develop its research framework (Porter, year). This study has also utilised the SWOT and the five force model analysis method in its framework. This study has analysed two firms from each of the following industrial sectors: The research framework was proposed in light of intensive literature review. The research framework was examined by the data collected from both primary and secondary research. The main data collection methods employed were personal interviews with experts specialised in bio-technology and some secondary information. The key findings of this study include: (1) Though some traditional bio-tech industrial sectors are already saturated, some bio-technology related sectors are still emerging and developing. (2) It is found that the most important factors influencing CMO is the transaction cost, followed by resource dependence. (3) Transaction cost is negatively related to CMO while resource dependence is positively associated with CMO. The degree of satisfaction of CMO is also positively related to the degree of CMO. (4) Consistent with existing literature.The research concerning CMO needs to be explored from three aspects: economic costing, operational strategy and social costing. (5) Strategic alliance is widely evidenced in the management, for example, in the areas of research and development and marketing. In the future bio-technology firms are suggested to well utilise the capabilities of major research centres in order to overcome the barriers caused by the inadequacy of institutional laws and lacking of research funds. Key word:Biotech, Biotechnolog, Biotechnolog industry, CMO, CRO, SWOT Analysis¡C

The focus of this paper is to examine information communication technologies (ICTs), organizational changes, R&D, and collaboration through econometric regression analysis. We concern about the impact of the sunrise biotechnology industry in emerging developed economy of Taiwan. This paper investigate the determinants of organizational changes, and complementary relationship between ICT labors, ICTs, and organizational change and study the determinant model of the most important topics, R&D and collaboration, which display biotechnology¡¦s characteristics.