Estimating Capacity Utilization in Iranian Pharmaceutical Industry: Pharmaceutical Companies on the Stock Exchange, 2008-2012
نویسندگان
چکیده مقاله:
This study aims to measure the production capacity and capacity utilization in pharmaceutical industry. The capacity utilization is the ratio of actual production level to the potential production level which shows the gap between real production and production capacity. Method: Through econometric methods, the short-run translog cost function is estimated with the cost share function of production factors using iterative seemingly unrelated regression equations (SURE) as a multi-variable regression presented by zeller. Findings: The capacity used during the study years has had a downward trend. The capacity utilization measured by industry weighted average had also a downward trend and its amount has always been much less than the industry simple average during the study years. Industry’s capacity utilization average in five years study is 57% while the average capacity utilization measured by industry weighted average method is 37%. Conclusion: To enhance the economic capacity, the proper use of resources, creating a desirable economic structure and having a system of efficiency in industry are required. In spite of the large amount of unused capacity in pharmaceutical industry, there is no need for further investment except in new fields and it is obvious that increase in investment leads to the changes in capacity utilization.
منابع مشابه
An Estimation of the Potential Utilization in Iranian Pharmaceutical Industry Involved in the Stock Exchange, 2008-2012
The aim of this study was to measure the potential of production and the capacity used in the pharmaceutical industry. Capacity use is the actual production rate to the potential output, which reflects the gap between actual production and production capacity. Through econometric methods, translog cost function in the short run along with functions of share cost of production factors is estimat...
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عنوان ژورنال
دوره 16 شماره 4
صفحات 1648- 1657
تاریخ انتشار 2017-11-01
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