臺灣博碩士論文加值系統

寬放資源、公司治理、國際化程度對經營績效之影響，一直以來都是許多研究者所關心的事，過去的研究較偏重於個別研究其對企業經營績效之影響，或兩兩主要變數之交互作用對經營績效之影響，較少文獻是在探討三變數同時與企業經營績效之交互作用關係，故本研究除了針對個別變數對企業經營績效的影響，亦也研究主要變數之間與企業經營績效之交互作用後的關係。
本研究以２００２年至２００７年台灣上市電子公司做為樣本資料，希望可以利用寬放資源、公司治理與國際化程度與企業績效變數之交互作用效果來探討其之間的關係，本研究透過以統計軟體STATA為分析工具，而根據實證研究結果分析，可得知寬放資源、公司治理、國際化程度與企業經營績效之交互作用關係結果為部分成立，顯示出儘管在過去有研究學者針對單一變數對企業經營績效之影響，或兩兩主要變數間交互作用對企業經營績效之影響為顯著結果，但若同時將這三個主要變數與企業績營績效做交互作用，其結果為反而為部分顯著。本研究主要結論如下：
1. 在單一變數對企業績營績效之影響方面，寬放資於與企業經營績效之關係大都獲得部分支持，公司治理與國際化程度相對而言較不顯著。
2. 兩變數交互作用方面，寬放資源、公司治理與經營績之交互作用為部分支持、公司治理、國際化程度與企業經營績效之交互作用為部分支持、寬放資源、國際化程度與企業經營績效之交互作用亦為部分支持。
3. 三者交互作用方面，寬放資源、公司治理、國際化程度與經營績效之交互作用為部分支持。
關鍵字：寬放資源、公司治理、國際化程度、企業經營績效

Slack resources, corporate governance, the degree of internationalization of business performance, has always been a matter of concern for many researchers, past studies emphasised more on the individual study of the impact on business performance, or two main variables’ interaction impact on business performance, less literature focused on exploring the three variables and the interaction between business performance. Hence, this paper not only conduct the impact of the individual variables on business performance, but also studied the interaction relationship between the main variables and performance
This study uses Electronic Companies in Taiwan from the year 2002 to 2007 as study samples. By practicing STATAT as a measurement tool, the relationship between the main variables would be analyzed. Empirical findings has shown that although past studies show the single variable or two variables were significant with performance, but the interaction of these three main variables for perf ormance are partial significant. the main conclusions are as follows:
1. The impact of single variables on the performance are only slack resources significant ;while other variables are partial significant.
2. two-variable interaction are also partial significant.
3. interaction of the three aspects, also partial significant.

摘要 i
ABSTRACT ii
誌　謝 iii
目　錄 iv
表目錄 vi
第壹章　緒論 1
１.１研究背景與動機 1
１. ２研究目的 3
第貳章　文獻探討 5
２.１寬放資源的定義 5
２.２公司治理的定義 7
２.３國際化的定義 9
２.４經營績效的定義 12
２.５寬放資源與經營績效的關係 14
２.６公司治理與績效的關係 16
２.７國際化程度與經營績效的關係 22
２.８寬放資源、公司治理與經營績效的關係 24
２.９公司治理、國際化程度與經營績效的關係 25
２.１０寬放資源、國際化程度與經營績效的關係 26
２.１１ 寬放資源、公司治理、國際化程度與經營績效的關係 27
第参章 研究方法 29
３.１研究架構 29
３.２研究變數定義即衡量方式 29
３.３樣本資料 35
第肆章 實證結果與分析 38
４.１相關係數分析 38
４.２異方差之檢定 41
４.３自我相關檢定 41
４.４單根檢定 41
４.５Hauman檢定 42
４.６迴歸分析 42
第伍章　結論與建議 70
５.１研究結論 70
５.２研究限制 78
５.３後續研究建議 78
參考文獻 80

 
表目錄
表 1寬放資源相關定義彙總 6
表 2公司治理相關定義彙總 9
表 3國際化相關定義彙總 11
表 4經營績效衡量指標相關定義彙總 13
表 5寬放資源與公司績效關聯性 15
表 6大股東持股比例與公司績效關聯性 20
表 7管理者持股比例與公司績效關聯性 20
表 8董事會規模與公司績效之關聯性 21
表 9董監事持股比例與公司績效關聯性 21
表 10董監事質押比例與公司績效關聯性 22
表 11國際化程度與公司績效關聯性 23
表 12相關係數表 39
表 13主要變數與企業經營績效(ROA-lag)之多元回歸分析表 43
表 14主要變數與企業經營績效(ROE-lag)之多元回歸分析表 48
表 16主要變數與企業經營績效(ROI-lag)之多元回歸分析表 53
表 17主要變數與企業經營績效(ROS-lag)之多元回歸分析表 57
表 18研究假設實證結果一覽表 63
表 19表實證結果一覽表 66

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