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研究生:邱世熒
研究生(外文):Shih-Ying Chiu
論文名稱:資本支出、企業規模與研發投資對企業績效之影響
論文名稱(外文):Capital Expenditures, Firm Size, and R&D Investment Impact on Enterprise Performance
指導教授:徐怡徐怡引用關係
指導教授(外文):Yi Hsu
學位類別:碩士
校院名稱:國立虎尾科技大學
系所名稱:經營管理研究所
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:2010
畢業學年度:98
語文別:中文
論文頁數:70
中文關鍵詞:資本支出企業規模研發投資企業績效
外文關鍵詞:Capital ExpendituresFirm SizeR&D InvestmentEnterprise Performance
相關次數:
  • 被引用被引用:5
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本研究主旨在於探討資本支出、企業規模與研發投資對企業績效的關聯性探討。本文運用歐盟統計局資料庫之數據進行分析,先利用相關分析檢定各變數項間之相關性,進而利用反應曲面模式找出每項自變數對應變數的影響與每兩項自變數在交互作用下對應變數的影響程度。在研究結果方面,資本支出、企業規模與研發投資對企業績效均有顯著的正向影響;而每兩自變數項在交互作用下對企業績效均有顯著的負向影響。類神經網路分析三項自變數與應變數之關係走向,資本支出與企業規模對企業績效關係,整體呈現正向走向;而研發投資對企業績效之關係走向卻是被排除於線性網路的模式1、2,在其他模式中則是顯示研發投資對企業績效之關係走向整體呈現正向走向。結論部份,實證結果配合過去學者文獻進行解釋及未來思考方向。未來研究方向則提出跨文化、跨區域運用,期望可修正、建構新架構模式。

This study discussed the influence of the capital expenditures, firm size, and R&D investment on enterprise performance. This paper used the database of Eurostat to analyze correlation among all variables. Moreover, this paper used the response surface model to find the interaction of each two independent variables which impact on enterprise performance. The results of this study displayed capital expenditures, firm size, and R&D investment significantly positive impacted on enterprise performance. Moreover, the interactions of independent variables significantly negative impacted on enterprise performance. Neural network analysis relationship of three independent variables and the dependent. The relationship of capital expenditure and firm size on enterprise performance are positive in overall trendency. But the relationship of R & D investment on enterprise performance has been excluded from the linear network model 1and model 2. In the other mode, the relationship of R & D investment on enterprise performance is positive in overall trendency. The empirical results integrated the previous studies to suggest research topics for the future researchers. This study suggested that future research could focus on cross-cultural and cross-area differences. Therefore, this study expected to amend and construct the new structural model.

中文摘要………………………………………………………………………i
英文摘要………………………………………………………………ii
誌謝……………………………………………………………………iii
目錄……………………………………………………………………iv
表目錄…………………………………………………………………vi
圖目錄…………………………………………………………………ix
一、緒論……………………………………………………………….1
1.1 研究背景與動機…………………………………………………1
1.2 研究目的…………………………………………………………2
1.3 研究流程…………………………………………………………3
二、文獻探討………………………………………………………….4
2.1 各構面參數之定義………………………………………………4
2.1.1 資本支出之定義………………………………………………4
2.1.2 企業規模之定義………………………………………………4
2.1.3 研發投資之定義………………………………………………5
2.1.4 企業績效之定義………………………………………………6
2.2 資本支出與企業績效之關聯性…………………………………7
2.3 企業規模與企業績效之關聯性…………………………………8
2.4 研發投資與企業績效之關聯性…………………………………10
2.5 各構面變數交互作用下與企業績效之關聯性…………………14
三、研究方法………………………………………………………….15
3.1 本研究架構………………………………………………………15
3.2 抽樣方法與資料蒐集來源………………………………………16
3.3 本研究假說之彙整………………………………………………16
3.4 研究模型設計……………………………………………………17
3.5 資料分析方法……………………………………………………18
四、實證結果與數據分析…………………………………………….20
4.1 樣本敘述統計……………………………………………………20
4.2 各項自變數對企業績效之相關分析數據………………………23
4.3 研究樣本迴歸分析………………………………………………24
4.4 樣本各產業之迴歸分析…………………………………………25
4.5 類神經網路分析…………………………………………………50
4.6 研究假說驗證……………………………………………………56
五、結論與建議……………………………………………………….58
5.1 結論………………………………………………………………59
5.2 未來研究建議方向………………………………………………65
參考文獻……………………………………………………………….67
英文大綱
簡歷


中文文獻:
1.宋東,2007年08月15日,「歐洲經濟需要體制變革大手術」,天下雜誌,第378期。
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3.葉怡成 (2009)。類神經網路模式應用與實作。台北:儒林發行。
4.http://n.yam.com/cnyes/fn/201001/20100128639823.html
5.http://tw.news.yahoo.com/article/url/d/a/100301/1/218es.html
6.http://tw.news.yahoo.com/article/url/d/a/100305/4/21hes.html
英文文獻:
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4.Echevarria, D.P. (1997), “Capital investment and the profitability of fortune 500 industrials: 1971-1990”, Studies in Economics and Finance, Vol. 18 No. 1, Fall, pp. 3-35.
5.Eli Amir, Yanling Guan, and Gilad Livne, (2007), “The Association of R&D and Capital Expenditures with Subsequent Earnings Variability” , Journal of Business Finance & Accounting, Vol. 34, Nos. 1-2, pp. 222-246.
6.FASB (Financial Accounting Standard Board), (1974), Accounting for research and development cost, Statement of Financial Accounting Standard NO.2.
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8.Jiang, Ching-Hai, Hsiang-Lan Chen, and Yen-Sheng Huang. (2006), “Capital expenditures and corporate earnings; Evidence from the Taiwan Stock Exchange”, Managerial Finance, Vol. 32, No. 11, pp. 853-861.
9.Kuen-Hung Tsai, and Jiann-Chyuan Wang, (2004), “The R&D performance in Taiwan’s electronics industry: a longitudinal examination”, R&D Management, March, Vol.34, No.2, pp. 179-189.
10.Louis, H. Amato, and Christie, H. Amato, (2004), “Firm Size, strategic advantage, and profit rates in U.S. retailing”, Journal of Retailing and Consumer Services, 11(3), pp. 181-193.
11.Louis, H. Amato, and Timothy E Burson, (2007), “The effects of firm size on profit rates in the financial services”, Journal of Economics and Economic Education Research, Vol. 8, No.1, pp. 67-81.
12.McConnell J.J, and C.J. Muscarella, (1985), “Corporate capital expenditure and the market value of the firm” , Journal of Financial Economics, pp. 26-35.
13.Morbey, Graham K. (1989), “R&D expenditures and profit growth” ,Research Technology Management, 32(3), pp. 20-23.
14.Morbey, Graham K., and R.M. Reithner, (1990), “How R&D affects sale growth, productivity and profitability” , Research Technology Management, 33(3), pp. 11-14.
15.Nancy Beneda, (2009), “Returns And Profitability In Oil And Gas Exploration” ,Corporate Finance Review, Jan/Feb, 13, pp. 41-44.
16.Porter, M.E., (1985), “Competitive advantage: creating and sustaining superior performance. New York, Free Press”.
17.Porter, M.E., (1998), “Competitive strategy: techniques for analyzing industries and competitors”.
18.Schumpeter, J.A. (1950), Capitalism, Socialism and Democracy. New York, Harper and Row.
19.Samuels, J. M., and D. J. Smyth, (1968), “Profits, Variability of Profits and Firm Size”, Economica, New Series, Vol.35, No.138, May, pp. 127-139.
20.Sougiannis, T., (1994), “The accounting based valuation of corporate R&D”, The Accounting Review, Vol.69, No.1, pp. 44-68.
21.Scherer, F. M. (2001), “The link between gross profitability and pharmaceutical R&D spending”, Health Affairs, Sep/Oct , 20, 5, pp. 216-220.


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