As the pioneer of emerging technologies, China’s
blockchain technology-led enterprises are crucial to R & D capabilities.
Through the collection of relevant data from 2015 to 2017, the input and output
indicators were constructed; the DEA analysis method was used to evaluate the R
& D efficiency, and the EM iterative algorithm was used for cluster analysis.
The 15 companies were divided into three categories. It was found that the
company’s average pure technical efficiency was 0.68, and UFIDA’s R & D
investment was the largest. There were eight companies with input redundancy
and insufficient output. There is a high degree of correlation between R & D
scale efficiency and EM clustering results. If a firm is increasing in size or
constant in scale, it is often classified as Category 2 or Category 3,
otherwise it is classified as Category 1.
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