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研究生:莊凌軒
研究生(外文):Ling-Hsuan Chuang
論文名稱:跨國營運對於大陸型、島國型國家之企業的獲利能力及風險之影響
論文名稱(外文):Do Cross-Border Operation Influence Continental and Island-Type Firms’ Profitability and Risk
指導教授:戴錦周戴錦周引用關係
學位類別:碩士
校院名稱:臺中技術學院
系所名稱:企業管理系事業經營碩士班
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:2011
畢業學年度:99
語文別:中文
論文頁數:57
中文關鍵詞:跨國營運風險獲利能力海外銷售率海外資產率
外文關鍵詞:cross-border operationriskprofitabilityforeign salesforeign assets
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本文針對跨國營運對大陸型、島國型企業之企業獲利能力及風險的影響來做探討,以海外銷售比率及海外資產比率為衡量跨國營運的指標,並以聯合國每年所出版的“World Investment Report”中前100大跨國企業為樣本挑選的依據,所挑選出來的樣本企業在依所屬之國家類型粗略分為大陸型企業及島國型企業,本文的研究期間為2003年~2008年,並建立兩條迴歸式以三階段最小平方法做為分析檢驗跨國運與企業獲利能力及風險之間的互動關係。實證結果發現,當海外銷售比率越高時,企業的獲利能力也越高,至於企業海外資產比率則對企業的獲利能力無顯著的影響,在風險上,海外銷售率與風險有著顯著的正向關係,代表企業風險會隨著海外銷售的增加而跟著提升,至於海外資產率與風險之間並無任何顯著的影響。至於在國家類型上,大陸型企業進行跨國營運有助於企業獲利能力的提升,至於島國型企業的獲利能力與海外銷售及海外資產之間則無顯著關係。在風險上,無論是大陸型企業或者是島國型企業的風險皆與海外銷售率及海外資產率之間無任何顯著影響,表示此兩種國家型態企業的風險並不會受到跨國營運的影響。

The objective of the study is to investigate how the cross-border operation influenced continental-type and island-type firms’ profitability and risk. The cross-border operation is measured by the foreign sales ratio and the foreign assets ratio. The data source is the World Investment Report, from 2003 to 2008, published by United Nations. A simultaneous equation system was established to analyze the reaction relationship between the firms’ profitability and risk. The empirical results estimated by the three stage least squares method show that the foreign sales ratio yielded a positive effect on the profitability of firms while the foreign assets ratio did not have a significant effect. In the equation of risk, the foreign sales had a significant impact on firms’ risk, but the foreign assets did not. As for the results about the country type, the cross-border operation would enhance continental firms’ profitability, while effects of the foreign sales and foreign assets were not significant. Finally, both foreign sales and foreign assets did not have significant effects on either continental-type or island-type firms’ risk.

表目錄、圖目錄 v
第壹章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 5
第三節 研究架構 5
第貳章 文獻回顧 8
第一節 跨國營運的形式 8
第二節 跨國企業定義與國際化程度衡量 10
第三節 跨國營運與企業獲利能力之探討 13
第四節 跨國營運與企業營運風險之探討 15
第参章 研究假說與模型 18
第一節 研究假說 18
第二節 研究模型 21
第肆章 研究方法與樣本選擇 26
第一節 研究方法 26
第二節 樣本選擇 30
第伍章 實證結果與分析 31
第一節 敘述性統計分析 31
第二節 跨國營運對企業獲利能力及風險之影響 42
第三節 大陸型、島國型企業迴歸分析 45
第陸章 結論與建議 49
第一節 研究結論 49
第二節 研究限制 51
第三節 後續研究建議 51
參考文獻 52
附錄 56

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(2)英文部分
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2.Brett Olsen and B. Elango, 2005,“Do Multinational Operations Influence Firm Value? Evidence from the Triad Regions,”International Journal of Business and Economics, Vol. 4, No. 1, 11-29
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Diversification and Internationalization : Implications for MNE Performance International.”
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20.Qian, C., 2000,“Performance of U.S. FDI in different world regions,” Asia Pacific Journal of Mangement, 67-83.
21.Reeb, David M., Chuck C.Y. Kwok, and H. Young Baek, 199“Systematic Risk of Multinational Corporation, ”Journal of International Business Studies, 263-279.
22.Robinson, R. D., 1984“Internationalization of business,”An introduction. Chicago:The Dryden Press.
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(3)參考書籍、網站
1.黃台心,1999,「計量經濟學(二版)」,台北新陸書局股份有限公司發行。
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(2008). Transnational Corporations and the Infrastructure Challenge OVERVIEW.
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9.UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT.
(2010).UNCTAD Handbook of statistics.
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