臺灣博碩士論文加值系統

當公司投資資訊科技(IT)時，資訊科技可以透過較佳的營運效率、成本的減少、增加銷貨收入，來幫助改善公司的營運效率。資訊科技投資將為公司帶來很多有形及無形的效益。管理當局通常會在做資訊科技投資決策時，考慮到這些效益。而資訊科技的發展對於公司的管理有很顯著的影響。因此，當管理者決定為了公司未來的發展機會而投資相關資訊科技，這些決策將對公司未來價值的最大化造成影響。
本研究最主要的目的是為了探討自動提款機(ATM)投資對銀行市場價值的影響，我們的實證結論證實ATM投資的確對銀行市價會造成正面的影響。此外，在本研究中使用的控制變數，包括：銀行規模大小、資產成長率、資本適足率、資產品質、管理、和流動性，對於銀行的市價都有潛在的影響。整體而言，關於ATM投資的實證結果已確認我們的假說，ATM投資對於銀行市價有正面的影響。
對於大多數的銀行而言，IT投資可以幫助公司提高競爭力、改善與顧客及供應商的關係。此外，IT投資可以顯著節省資料處理及儲存的成本。總而言之，管理當局可以將資訊科技當成策略性的需要來獲取競爭上的優勢，並且提升銀行的企業價值。

When a firm invests in information technology (IT), it helps to improve its performance through better operational efficiency, cost reduction, increased sales and revenue. IT investments would provide business with several tangible and intangible benefits. Managers are generally aware of these benefits and consider them in their IT decisions. The progress of information technology has significant impact on business management. Therefore, when managers make investments based on future opportunities available to the firms, the decisions would have effects on maximizing the future value of the firms.
The main purpose of this study is to discuss the effect of automatic teller machine (ATM) intensity on market value of banks. Our empirical results confirmed that ATM investment indeed has positive effect on market of banks. Besides, the control variables employed in this study, including bank size, asset growth rate, Capital adequacy, Asset quality, Management, Earnings and Liquidity all have potential influence on market value of banks. In conclusion, the empirical results of ATM intensity confirm our hypothesis that the intensity of ATM has positive effect on market value of banks.
For most banking firms, IT investment decisions made on a timely manner improve a firm’s competitive position and changing on supplier and customer relations. Otherwise, IT investments can provide significant savings in data processing and storage costs. In conclusion, the management can use IT as strategic necessity to gain competitive advantage and increase firm’s value in banking industry.

ACKNOWLEDGEMENTS iii
摘要 iv
ABSTRACT v
List of Tables viii
Chapter 1 Introduction 1
1.1 The Prevalence of ATMs 1
1.2 The Strategic Necessity and Development of ATMs 2
1.3 The Purpose of This Study 4
1.4 Structure of This Study 4
Chapter 2 Literature Review and Hypotheses Development 5
2.1 Previous Research on IT investment and Performance 5
2.2 Previous Research on IT Investment and Market Value of Firms 8
2.3 Previous Research on ATM and Hypotheses Development 10
2.4 Previous Research on CAMEL Rating System 15
2.4.1 Capital Adequacy 15
2.4.2 Asset Quality 16
2.4.3 Management 17
2.4.4 Earnings 17
2.4.5 Liquidity 18
2.5 Previous Research on Other Control Variables 19
2.5.1 Firm Size 19
2.5.2 Asset Growth 20
Chapter 3 Research Method 21
3.1 Variables 21
3.1.1 Dependent Variables 21
3.1.2 Independent Variables 22
3.1.3 Control Variables 22
3.2 Statistical Estimation Model 27
Chapter 4 Data Analysis and Discussion 29
4.1 Sample Selection and Data Collection 29
4.2 Descriptive Statistics 30
4.3 The Results of Correlation Analysis 32
4.4 The Results of Regression Analysis 34
4.5 The Results of Sensitivity Analysis 39
4.6 The Results of Hypotheses Test 42
Chapter 5 Conclusions and Suggestions 43
5.1 Conclusions and Implications 43
5.2 Research Contributions 44
5.3 Research Limitations 45
5.4 Suggestions for Future Research 46
Reference 47

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