Abstract
As for the biotechnology industry development had constructed the basis of favorable environment in Taiwan, government gives fresh impetus to biotechnology industry in recent years. The Executive Yuan established ¡§Bio Taiwan Commission (BTC)¡¨ on 2004. For the purpose of strengthen the development blueprint of biotechnology industry; the BTC belong to the rank of national policy. The government shows its determination to develop this new and developing industry by marking biotechnology industry as priority event on biotechnology industry strategy convention in latest 5 years and ¡§The challenge to year 2008 nation development significant plan¡¨. The management problems, which are brought with this new and developing industry, needs to be resolved one by one. This study focus on biotechnology industry, which is high risk long-term development, huge money investment on research and development, people¡¦s conservative investment attitude¡Ketc characters. The purpose of this study is not only to establish an valid assessment dimensions and assessment items on investment evaluation of venture capital; but also that in order to reduce the risk of investment.
This study not only examines the investment evaluation standard on starting enterprises in the past but also generalizes overall assessment dimensions based on characters of biotechnology industry. The overall assessment dimensions are: management team; product technology; market size and marketing; financial management and patent. The study also includes individual assessment items and discussion of significance level. These assessment items include team competency; social experience; product features; product technology and manufacture; marketing access; financial forecast rationality; capital requirements; patent layout and contract¡Ketc. The result demonstrate that investment manager insist on attention significance level from these items analysis. This research method is based on questionnaires and in-depth interview, which establish appropriate investment standard on biotechnology industry.
The research outcome shows management team is first priority on overall assessment dimensions. This research explain goal-oriented; management ability in a team; product life cycle; critical technology; marketing access; capital expenditure; stock price rationality; patent range and related party transactions that are first tier on significance level. These studies reveal that investors focus on what evaluation factor is import and provide for a reference to fund-raising of biotechnology companies in the future.
Key words: venture capital, investment evaluation, assessment dimensions, assessment items, significance level
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0804110-142713 |
| Date | 04 August 2010 |
| Creators | Lu, Tsung-Hsien |
| Contributors | Stephen D. Tsai, Pei-how Huang, Ping-Yi Chao |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0804110-142713 |
| Rights | campus_withheld, Copyright information available at source archive |
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