IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/116182.html
   My bibliography  Save this paper

An assessment of traditional knowledge-based medicine companies and western medicine companies: a comparative study of efficiency

Author

Listed:
  • sethi, Kalyani
  • mishra, Dr. Bikash Ranjan

Abstract

Indian traditional medicine comprises indigenous medical traditions (Bode, 2006). This ancient Indian predictive and personalized medicine system is still relevant today (Lemonnier, 2017). Yet, this medical system suffers many challenges due to the practice of western medicine. Therefore, there is a big need to study the existence and performance of these medicines through different companies. Coming to western medicine has made significant progress around the world over the past century. Many life-saving new drugs have been discovered to deal with various infectious and fatal diseases. Despite the undeniable benefits of modern medicine, which relies on scientific assays and results to establish the diagnosis and fight disease, a large portion of the world continues to rely on modern forms of Traditional, Complementary, and Alternative Medicines (CAM). Therefore, our paper focuses on studying the efficiency across Traditional Knowledge-based (TKBM) and Western Medicine (WM) companies using the data envelopment analysis (DEA) model. The study is a comparative study of ten years, from 2009-2018, using the CMIE Prowess IQ database. The second test concentrates on the effects of some firm-specific and financial variables on the efficiency of the respective companies. Lastly, the paper suggests that adopting cost management techniques will help these companies to improve their profit.

Suggested Citation

  • sethi, Kalyani & mishra, Dr. Bikash Ranjan, 2023. "An assessment of traditional knowledge-based medicine companies and western medicine companies: a comparative study of efficiency," MPRA Paper 116182, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:116182
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/116182/1/MPRA_paper_116182.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Debdatta Saha & T. M. Vasuprada, 2021. "Investigating Commercial Incentives for Innovation: An Application in Traditional Medicine," Studies in Microeconomics, , vol. 9(1), pages 66-91, June.
    2. Vidhisha Vyas & K. Narayanan & A. Ramanathan, 2013. "Mergers and acquisitions, technological efforts and exports: a study of pharmaceutical sector in India," Innovation and Development, Taylor & Francis Journals, vol. 3(2), pages 169-186, October.
    3. H.S. Pannu & U. Dinesh Kumar & Jamal A. Farooquie, 2011. "Efficiency and productivity analysis of Indian pharmaceutical industry using data envelopment analysis," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 10(1), pages 121-136.
    4. Mainak Mazumdar & Meenakshi Rajeev, 2009. "Output and Input Efficiency of Manufacturing Firms in India: A Case of the Indian Pharmaceutical Sector," Working Papers 219, Institute for Social and Economic Change, Bangalore.
    5. Jaswinder Singh & Parminder Singh, 2014. "Decomposition of Technical Efficiency and Productivity Growth in Indian Pharmaceutical Industry: A Non-Parametric Analysis," Artha Vijnana, Gokhale Institute of Politics and Economics, vol. 56(4), pages 456-478.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Varun Mahajan & D. K. Nauriyal & S. P. Singh, 2020. "Domestic market competitiveness of Indian drug and pharmaceutical industry," Review of Managerial Science, Springer, vol. 14(3), pages 519-559, June.
    2. Varun Mahajan & D. K. Nauriyal & S. P. Singh, 2018. "Efficiency and Its Determinants: Panel Data Evidence from the Indian Pharmaceutical Industry," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 12(1), pages 19-40, February.
    3. Jaswinder Singh & Parminder Singh, 2017. "Does TRIPS Drive to Productivity Growth in Indian Pharmaceutical Industry," Paradigm, , vol. 21(2), pages 211-228, December.
    4. Kumar, Rajesh & Agarwala, Arun, 2016. "Renewable energy technology diffusion model for techno-economics feasibility," Renewable and Sustainable Energy Reviews, Elsevier, vol. 54(C), pages 1515-1524.
    5. Ahmed, Gulzar & Arshad Khan, Muhammad & Afzal, Muhammad, 2015. "Trade Liberalization and Industrial Productivity: Evidence from Pakistan," MPRA Paper 70744, University Library of Munich, Germany, revised 15 Mar 2016.
    6. Padmavathi N, 2019. "Technical efficiency of unorganised food processing industry in India: A stochastic frontier analysis," Working Papers 449, Institute for Social and Economic Change, Bangalore.
    7. Pierluigi Toma, 2020. "Size and productivity: a conditional approach for Italian pharmaceutical sector," Journal of Productivity Analysis, Springer, vol. 54(1), pages 1-12, August.
    8. Shallu Arora & Meena Sharma & A. K. Vashisht, 2017. "Impact of managerial ability and firm-specific variables on insider’s abnormal returns," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 44(4), pages 275-286, December.
    9. Pulak Mishra, 2018. "Are Mergers and Acquisitions Necessarily Anti-competitive? Empirical Evidence from India’s Manufacturing Sector," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 12(3), pages 276-307, August.
    10. Ricardo F. Díaz & Blanca Sanchez-Robles, 2020. "Non-Parametric Analysis of Efficiency: An Application to the Pharmaceutical Industry," Mathematics, MDPI, vol. 8(9), pages 1-27, September.
    11. Pulak Mishra & Neha Jaiswal, 2017. "Impact of Mergers and Acquisitions on Firms’ Export Competitiveness," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 18(1), pages 1-20, March.
    12. BASHAYREH, Ala’ & ALOMARI, Mohammad W., 2021. "Analyzing The Technical Efficiency Using Data Envelopment Analysis Method: The Case Of Gulf Cooperation Council Countries," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 25(3), pages 44-55, September.
    13. Atta Mills, Ebenezer Fiifi Emire & Zeng, Kailin & Fangbiao, Liu & Fangyan, Li, 2021. "Modeling innovation efficiency, its micro-level drivers, and its impact on stock returns," Chaos, Solitons & Fractals, Elsevier, vol. 152(C).
    14. Hongbo Lai & Hao Shi & Yang Zhou, 2020. "Regional technology gap and innovation efficiency trap in Chinese pharmaceutical manufacturing industry," PLOS ONE, Public Library of Science, vol. 15(5), pages 1-17, May.
    15. Zoltán Lakner & Anna Kiss & József Popp & Zoltán Zéman & Domicián Máté & Judit Oláh, 2019. "From Basic Research to Competitiveness: An Econometric Analysis of the Global Pharmaceutical Sector," Sustainability, MDPI, vol. 11(11), pages 1-17, June.

    More about this item

    Keywords

    Traditional Knowledge-based Medicine; Western Medicine; Efficiency; Data Envelopment Analysis.;
    All these keywords.

    JEL classification:

    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:116182. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.