【摘要】 目的:探究企业研发与成果转化效率及其影响因素。方法:基于2018—2023年京津冀地区部分A股医药制造业上市企业面板数据，首先利用两阶段网络数据包络分析(data envelopment analysis, DEA)模型对企业研发与成果转化效率进行测算，其次利用Tobit模型探究可能影响创新效率的因素。结果:京津冀地区医药制造业上市企业的整体效率、研发阶段效率和成果转化阶段效率均值分别为0.129,0.265和0.622,化学药整体创新效率优于生物药和中药行业；Tobit模型结果中，公司成立年限、政府补助、市场竞争力和融资约束对整体创新效率的系数值分别为-4.116,-0.028,0.326,15.171。结论:京津冀地区医药制造业上市企业整体创新效率均未达到有效状态，且存在行业差异；公司成立年限、市场竞争力和融资约束是主要影响因素，同时政府补助未起到正效应；政府应建立创新药风险预警机制以及创新效率和激励政策响应机制，进一步提高医药制造业创新效率。更多还原

【Abstract】 Objective: To explore the efficiency and influencing factors of enterprise R&D and achievement transformation. Methods: Based on panel data of some A-share pharmaceutical manufacturing companies listed in the Beijing Tianjin Hebei region from 2018 to 2023, a two-stage network Data Envelopment Analysis(DEA) model was first used to measure the efficiency of enterprise research and development and achievement transformation. Then, the Tobit model was used to explore the factors that may affect innovation efficiency. Results: The average overall efficiency, R&D stage efficiency, and achievement transformation stage efficiency of listed pharmaceutical manufacturing companies in the Beijing Tianjin Hebei region were 0.129, 0.265, and 0.622, respectively. The overall innovation efficiency of chemical drugs was better than that of biopharmaceutical and traditional Chinese medicine industries. In the Tobit model analysis, the coefficient values of company establishment years, government subsidies, market competitiveness, and financing constraints on overall innovation efficiency were -4.116,-0.028, 0.326, and 15.171, respectively. Conclusion: The overall innovation efficiency of listed pharmaceutical manufacturing companies in the Beijing Tianjin Hebei region has not reached an effective state, and there are industry differences. The company’s establishment period, market competitiveness, and financing constraints are the main influencing factors, while government subsidies have not played a positive effect. The government should establish an innovative drug risk warning mechanism, as well as an innovation efficiency and incentive policy response mechanism, to further improve the innovation efficiency of the pharmaceutical manufacturing industry.更多还原