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研究生:闻勛琪
研究生(外文):Hsun Chi Wen
論文名稱:無形資產與研發投入對企業績效之影響-以平面顯示器產業為例
論文名稱(外文):The Impact of Intangible Asset and Research Expense on the Performance of Flat Display Panel Industry
指導教授:洪志洋洪志洋引用關係
指導教授(外文):Chih-Young Hung
學位類別:碩士
校院名稱:國立交通大學
系所名稱:科技管理學程碩士班
學門:商業及管理學門
學類:其他商業及管理學類
論文種類:學術論文
論文出版年:2004
畢業學年度:92
語文別:中文
論文頁數:66
中文關鍵詞:超額盈餘企業績效研發投入無形資產
外文關鍵詞:Capitalized Excess Earning MethodPerformance of Enterprise
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平面顯示器產業為我國新興高科技產業,此產業結合我國既有的電子產品製造優勢及政府與民間企業的大力投入,已具備有領先世界的潛力。對這個我國內最有機會成為下一個世界第一的產業,其創造企業績效的因素為本研究欲研究的重點。從產業競爭理論看,產業必須具備高知識內涵之無形資產價值,方能創造產業競爭力。但是無形資產如何評估並未明確,本研究採用資本化超額盈餘法,作為無形資產評估指標。本研究針對平面顯示器產業進行無形資產、研發投入對企業績效的相關性分析,期望了解相互影響。
研究結果顯示:(1)平面顯示器產業的無形資產有隨時間有增加的趨勢,表示無形資產價值對企業價值佔有愈來愈重要的趨勢、(2)以等級相關分析及檢定得到整個產業之企業無形資產和企業績效呈正相關的結果,此結果証明無形資產確實是企業績效的關鍵因素、(3)在產業之研發投入和企業價值的分析則得到不相關的結果。本研究認為國內企業雖有大量資本資金及研發的投入,但之前產業原始技術來源仍來自國外整廠技術輸入。獲利能力亦來自於既有技術及設備。國內產業自行研發的成果尚未表現在績效。但未來研發之投入必能顯現在企業績效表現上。 (4) 將企業的研發投入高低和無形資產高低分成4個群組,比較其企業績效。結果無形資產高且研發投入高大於無形資產高而研發投入低大於無形資產低但研發投入高大於無形資產低且研發投入低。此結果顯示無形資產高低仍是企業績效好壞的主要因素,此果和等級相關分析結果相符合。

Intangible asset is one of the most popular topics in the literature of investment and valuation related topics. This research uses capitalized excess earning method(CEEM) to calculate the value of intangible asset of the flat display panel industry. It is believed that the flat display panel industry in Taiwan will become the next world- leader.
This research discusses the impact of intangible asset and R&D expense on the performance of Taiwan’s flat display panel industry. Non-parametric method of rank correlation is used to investigate the relationships between intangible asset , R&D expenses and performance. The results are as follows: First, the intangible asset is positively related to the performance of enterprises. Second, the R&D expenses are not significantly related to the performance of enterprises. Third, the research expenses are not significantly related to the intangible asset.
These results suggest that the accumulation of intangible asset can assit a firm to achieve better performance. However, the increase of R&D expense did not necessary enhance the performance of those firm in the study.

中文摘要 i
英文摘要 ii
致 謝 iii
目 錄 iv
表 目 錄 v
圖 目 錄 vii
一、緒論 1
1.1 研究背景與動機 1
1.2 研究目的 6
1.3 研究程序及章節說明 7
1.4 研究限制 9
二、文獻探討 10
2.1 衡量企業績效之文獻回顧 10
2.2 無形資產及評估文獻回顧 13
2.3 研發與無形資產關連性文獻回顧 20
三、研究方法 23
3.1 研究架構 23
3.2 研究命題與說明 24
3.3 研究樣本及資料來源 25
3.4 變數之定義及計算 25
3.5 統計方法介紹 32
四、實証結果與分析 34
4.1 樣本資料分析 34
4.2 敘述性統計結果分析 39
4.3 主要變數之相關性分析 44
五、結論與建議 62
參考文獻 65

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