由Kaplan & Norton所提出來的平衡計分卡強調財務與非財務績效並重的特性，並強調四大構面分(學習與成長，內部流程，顧客與財務構面)的因果連結性。透過因果連結，四構面之間的呈現一層影響ㄧ層的關係為簡單價值創造流程，而較底層構面的衡量指標影響所有較上層的構面的衡量指標為複雜價值流程。本研究欲透過平衡計分卡四構面的因果關係，檢驗在簡單流程與複雜流程下，各構面衡量指標之間績效的關聯性。
本文採用民國90年至93年之台灣上市公司的資料來衡量四構面的產出。實證結果發現在簡單價值創造流程下，四構面的衡量指標呈現一層影響ㄧ層的因果關係。在複雜價值創造流程下，較底層構面的衡量指標會顯著影響所有較上層的構面的衡量指標。而複雜價值創造流程的配適度指標比簡單價值創造流程來的好，意即代表複雜價值創造流程更能代表一般企業的價值創造程。由本文實證結果可建議，企業應從複雜價值創造流程來管理各構面的績效。

The Balanced Scorecard invented by Kaplan and Norton stresses the importance of both financial and non-financial performance measures. The characteristic of BSC is the cause-and-effect relationship of four hierarchical perspectives (learning and growth, internal business process, customer and financial). According to the relationship of cause-and-effect, the simple value-creation process can de called as that measures of a lower-level perspective may be a predicator of measures of a higher-level perspective . A complex value-creation model is that performance measures to be associated with measures in all of the higher-order perspectives. This study is to investigate the effect of performance measures through four perspectives of the balanced scorecard in simple and complex processes.
This study uses the data on eight measures from Taiwan listed companies over four-year period to proxy for outcome measures of the four BSC perspectives. The evidence of this study shows that a simple value creation model allows measures to be a driver only for the next perspective in the BSC hierarchy. A complex value creation model indicates outcome measures are associated with outcome measures in all higher-level BSC perspectives. In addition, a complex value-creation model captures the value-creation process better than a simple value creation model. On the basis of this evidence, firms should manage outcomes of each perspective from the view of complex value-creation process.

圖目錄............................................................ iv
表目錄............................................................ iv
第一章 緒論.........................................................1
1.1 研究背景與動機.................................................1
1.2 研究目的......................................................3
1.3 研究貢獻........................................................3
1.4 論文架構…………………………………………………………………...4
第二章 文獻探討與假說推導....................................................................6
2.1 企業價值的創造…………………………………………………………...6
2.2 創造價值過程-平衡計分卡架構…………………………………………..7
2.3 平衡計分卡四構面………………………………………………………..10
2.4 衡量指標……………………………………………………………..........13
2.4.1 衡量指標的定義…………………………………………………...13
2.4.2 一般與獨特衡量指標……………………………………………...14
2.4.3 各構面的衡量指標……………………………………………..14
2.5 各構面衡量指標的因果關聯性…………………………………………..17
2.5.1 因果關係的定義…………………………………………………...17
2.5.2 因果連結的重要性………………………………………………...17
2.5.3 衡量指標的因果關聯……………………………………………...18
2.5.4 因果關係連結－簡單與複雜價值創造流程……………………...19
2.6 假說推導…………….....................................…..20
第三章 研究方法………………………………….....................26
3.1 研究假設……………………………………….................26
3.2 研究模型……………...………………….....….................27
3.3 變數定義..................................................29
3.4 樣本的選取................................................34
3.5 資料分析………………………………………………………........35
第四章 實證結果與分析............................................................38
4.1 敘述性統計分析............................................38
4.2 實證分析結果..............................................41
第五章 研究結論、建議和限制............................................................48
5.1 研究結論...............................................48
5.2 研究建議...............................................50
5.3 研究限制...............................................52
參考文獻......................................................53

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