臺灣博碩士論文加值系統

對於從事創新績效相關研究的學者來說，在進行實證分析時，皆必須考量研發活動對於經營績效的影響並不僅止於當期，且存在著遞延效果；相同地，對於實務界的投資者來說，也必須考量各企業所進行的研發活動對其經營績效的遞延效果。過去學者將研發活動依流程分為投入與產出兩個構面，其中，研發產出又可再細分為數量與品質二部分，因此，本研究將就我國電子業上市上櫃公司，分別探討研發投入、產出數量與品質對於企業經營績效的遞延效果。
研究結果發現，研發投入之效益於未來第三年實現。研發產出數量對於經營績效並未呈現顯著的相關；而研發產出品質對於當年的企業經營績效即產生效益，且此效益及於未來二年。本研究推論，研發產出的數量雖能反映企業研發投入的成果，但唯有能夠高品質的產出，才能有效提升企業的經營績效。

For scholars engaged in innovation performance research, they must consider that the impact of R&D activities on financial performance often has a time-lag effect; so do the investors in the capital market. In the past, researchers divided R&D activities into two aspects by means of the procedure, including R&D input and R&D output. The latter also includes the quantity and the quality of R&D output. Therefore, this thesis uses Taiwan’s electronics industry as a research sample and examines the lag-effect of R&D input, R&D output quantity and quality on the companies’ financial performance.
The research results show that the benefits of R&D input are realized in the 3rd year in the future. In addition, the benefits of R&D output quality are realized in the current year, and last to the 2nd year in the future. However, there is no evidence for the relationship between R&D output quantity and companies’ financial performance. Overall, only can the high quality R&D output contribute to the companies’ financial performance.

目錄......................................................Ⅰ
圖目錄.....................................................Ⅱ
表目錄.....................................................Ⅲ
第一章 緒論
第一節 研究動機與目的......................................1
第二節 研究問題............................................5
第三節 論文架構............................................7
第二章 文獻探討
第一節 研發投入對於經營績效的影響及遞延效果...................9
第二節 研發產出數量對於經營績效的影響及遞延效果...............17
第三節 研發產出品質對於經營績效的影響及遞延效果...............27
第四節 研究延伸...........................................37
第三章 研究方法
第一節 觀念性架構.........................................42
第二節 研究樣本及資料來源..................................43
第三節 研究假說...........................................44
第四節 變數衡量...........................................48
第五節 實證模型.......................................... 53
第六節 資料分析方法.......................................55
第四章 實證結果
第一節 敘述性統計.........................................56
第二節 迴歸分析之基本假設檢定..............................58
第三節 迴歸分析結果.......................................60
第四節 敏感性分析.........................................68
第五章 結論與建議
第一節 研究結論...........................................73
第二節 研究限制...........................................77
第三節 研究建議...........................................78
參考文獻...................................................80
附錄
附錄一 以權益報酬率取代資產報酬率作為經營績效的衡量指標......83
附錄二 研發投入對於研發產出之遞延效果.........................88
圖目錄
圖1-1 我國歷年製造業研發經費及研發密集度.....................1
圖1-2 我國近年來在美國專利商標局所核准之專利數................2
圖1-3 本研究之研究流程.....................................8
圖3-1 本研究之架構圖.....................................42
表目錄
表2-1 研發投入對於經營績效的影響及遞延效果之文獻彙總表........15
表2-2 研發產出數量對於經營績效的影響及遞延效果之文獻彙總表....24
表2-3 研發產出品質對於經營績效的影響及遞延效果之文獻彙總表....34
表2-4 研究延伸彙總表.....................................40
表3-1 研究變數彙總表.....................................52
表4-1 敘述性統計表.......................................56
表4-2 相關係數表－當年度影響..............................58
表4-3 相關係數表－遞延一年度影響...........................58
表4-4 相關係數表－遞延二年度影響...........................59
表4-5 相關係數表－遞延三年度影響...........................59
表4-6 研發投入與產出對於經營績效當期影響之各模式實證結果彙總..61
表4-7 研發投入與產出對於經營績效遞延一年度影響之各模式實證結果彙
總................................................63
表4-8 研發投入與產出對於經營績效遞延二年度影響之各模式實證結果彙
總................................................65
表4-9 研發投入與產出對於經營績效遞延三年度影響之各模式實證結果彙
總................................................67
表4-10 敏感性分析－同時考量研發投入、研發產出數量及品質作為實證模式之
自變數............................................69
表4-11 敏感性分析－以專利申請數取代專利核准數之各模式實證結果彙
總................................................70
表4-12 敏感性分析－增加產業別控制變數之各模式實證結果彙總......72
表5-1 本研究之結論彙總....................................75
表附1-1 研發投入與產出對於權益報酬率當期影響之各模式實證結果彙總.84
表附1-2 研發投入與產出對於權益報酬率遞延一年度影響之各模式實證結果彙
總................................................85
表附1-3 研發投入與產出對於權益報酬率遞延二年度影響之各模式實證結果彙
總...............................................86
表附1-4 研發投入與產出對於權益報酬率遞延三年度影響之各模式實證結果彙
總...............................................87
表附2-1 研發投入對於專利核准數遞延效果之各模式實證結果彙總......88
表附2-2 研發投入對於專利申請數遞延效果之各模式實證結果彙總......89
表附2-3 研發投入對於專利引證數遞延效果之各模式實證結果彙總......90

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