The Innovation Performance and its Determinants of Korean Pharmaceutical Industry
The pharmaceutical industry has become one of the most powerful and potential industry
for the economic growth in the world. Accordingly, many countries have increased
research and development (R&D) investment with the goal of producing new drugs.
As R&D in the pharmaceutical industry became increasingly important, so did the
evaluation of the effectiveness and efficiency of expanding R&D investment. Evaluating
and managing R&D efficiency are essential for enhancing the performance produced by
However, only a few studies on evaluating R&D efficiency quantitatively have been
conducted so far because of the complexity and uncertainty of R&D activity.