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研究生:張永鵬
研究生(外文):Zhang,Yongpeng 
論文名稱:公司內部治理對研發效率之影響
論文名稱(外文):Internal Governance of R & D Efficiency
指導教授:黃劭彥黃劭彥引用關係
口試委員:張森河林琦珍
口試日期:2012-06-15
學位類別:碩士
校院名稱:國立中正大學
系所名稱:高階主管管理碩士在職專班
學門:商業及管理學門
學類:其他商業及管理學類
論文種類:學術論文
論文出版年:2012
畢業學年度:100
語文別:中文
論文頁數:57
中文關鍵詞:創新活動專利權研發效率所有權結構董事會組成
外文關鍵詞:Innovation ActivityPatentR & D EfficiencyOwnership StructureBoard Composition
相關次數:
  • 被引用被引用:2
  • 點閱點閱:286
  • 評分評分:
  • 下載下載:8
  • 收藏至我的研究室書目清單書目收藏:2
中文摘要
面臨知識競爭的時代,專利的取得對企業愈顯重要,企業除了設備、勞力與土地以外,高附加價值的無形資產成為企業的關鍵致勝因素,創新研發活動造就出的無形資產(專利權)所產生的經濟價值更是企業持續成長的動力。由於企業從事創新研發活動具有高度不確定性,會造成管理者與股東或債權人間的資訊不對稱,容易導致公司產生代理問題。目前台灣上市公司之所有權結構,仍以家族控制的公司為主體,董事會亦多由家族掌控。因此,公司內部治理機制與研發效率之間的關聯性更為複雜。
本研究使用研發創新活動的投入與產出關係衡量企業的研發創新效率,並進一步探討不同的公司內部治理對研發創新效率所產生不同的影響。挑選台灣上市公司中電子業、生技醫療業二類高研發科技產業來作為研究對象。探究不同的公司內部治理機制會對公司研發效率產生不同的影響,造成公司研發效率高、低差異的因素為何。
本研究發現結果發現,大股東持股比率與創新研發效率存在顯著正相關,大股東持股比率愈高,公司的研發效率愈高,然而,董監事持股比率與創新研發效率存在正相關但並不顯著。股份盈餘偏離差與創新研發效率存在顯著負相關,顯示股份盈餘偏離程度愈高,公司的研發效率愈低。獨立董監事席次比率與創新研發效率存在正相關但並不顯著,然而,董事會內部化程度方面,外部個人董事席次與創新研發效率存在負相關,但是外部個人監事席次與創新研發效率存在顯著正相關。

Faced the knowledge competitive era, patents obtained become more and more important for enterprises. In addition to the equipment, labor and land; high value-added intangible assets become the key success factors. Therefore, Innovation and R & D activities create economic value of intangible assets (patents). The innovation and R & D activities are high degree of uncertainty. This issue results in information asymmetry between managers and stakeholders. It is easy to casue the company to have a agency problem. Most listed companies in Taiwan are still family-controlled companies. Therefore, the association between internal governance mechanisms and R & D efficiency become more complex.

This study adopts R & D expenditure dividend numbers of patents to measure the efficiency of R & D ; then this study also to further explore the relatiobship between internal corporate governance mechanism and the efficiency of R & D and innovation. We select companies in the electronics industry, biotechnology and medical industry.

The findings of this study found that large shareholders and the R & D efficiency are significant positive correlation. The higher the shareholding ratio, the higher the efficiency of the company's R & D. However, the directors' shareholding is also positively correlated R&D efficiency but not significant. The degree of deviation of share holding and earning become a negative significantly relationship to R & D efficiency. The percentage of independent directors exists postively correlated to the innovation and R & D efficiency but not significant.

目錄
中文摘要 i
Abstract ii
目錄 iii
圖表目錄 v
第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 3
第三節 研究流程與架構 5
第二章 文獻探討 8
第一節 研發創新對公司價值之影響 8
第二節 內部治理機制對公司風險承擔、績效、價值之影響 9
第三章 研究方法 15
第一節 樣本選取與資料來源 15
第二節 實證模型與變數衡量 16
第四章 實證結果分析 19
第一節 敘述性統計 19
第一節 相關性分析 23
第二節 迴歸分析實證結果 25
第五章 結論與建議 27
第一節 研究結論 27
第二節 研究限制與後續研究建議 29
參考文獻 31
附錄一、98 年本國法人專利公告發證百大排名 39
附錄二、99 年本國法人專利公告發證百大排名 43
附錄三、100 年本國法人專利公告發證百大排名 47


圖表目錄
圖 1-1 研究流程與架構 7
表3-1 樣本選取 15
表4-1敘述性統計-整體樣本 20
表4-2敘述性統計-電子業樣本 21
表4-3敘述性統計-生技醫療業樣本 21
表4-4產業別T 檢定 22
表4-5相關係數檢定 24
表4-6迴歸分析 26


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