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研究生:李季洋
研究生(外文):LEE, CHI-YANG
論文名稱:S&P 1500 CEO從事高爾夫運動之球技、頻率及社交活動對公司R&D績效表現之影響
論文名稱(外文):The Impact of S&P 1500 CEOs’ Golfing Skill, Frequency and Social Activities on Company’s R&D Performance
指導教授:林岳喬林岳喬引用關係
指導教授(外文):LIN, YUAH-CHIAO
口試委員:何加政吳徐哲
口試委員(外文):HO, CHIA-CHENGWU, HSU-CHE
口試日期:2017-07-02
學位類別:碩士
校院名稱:國立中正大學
系所名稱:會計與資訊科技研究所
學門:商業及管理學門
學類:會計學類
論文種類:學術論文
論文出版年:2017
畢業學年度:105
語文別:中文
論文頁數:44
中文關鍵詞:高爾夫運動研發績效研發投資績效過度自信
外文關鍵詞:GolfingR&D PerformanceR&D Investment EfficiencyOverconfidence
相關次數:
  • 被引用被引用:2
  • 點閱點閱:236
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  • 下載下載:3
  • 收藏至我的研究室書目清單書目收藏:0
本研究檢驗了公司研發績效與公司高階主管(CEO及CFO)從事高爾夫運動之關聯。並以S&P 1500公司為樣本及根據來自美國高爾夫球協會之GHIN資料庫之高爾夫資料,本研究發現有從事高爾夫運動之CEO及CFO之公司擁有較好的研發投資績效。此外,當CEO打球頻率越高,公司研發投資績效也越好。結果意味著高爾夫球場可作為一個給高階主管交換投資資訊及與其他公司建立有效率之溝通管道的平台。另一方面,本研究發現CEO之球技對公司之研發投資績效有負面之顯著影響,意味球技較佳之CEO可能較為過度自信,導致較差之研發投資績效。
本研究並無發現CFO之球技及打球頻率對公司研發投資績效之顯著影響,表示CFO在公司研發投資之決策中扮演之角色較不如CEO重要。

This study examines the association between the firm’s R&D investment efficiency and the golfing activities of corporate top executives (CEOs and CFOs). Based on a sample of S&P 1500 firms and golfing data obtained from GHIN (Golf Handicap and Information Network), this study find that golfer-CEOs and golfer-CFOs tend to yield better R&D investment efficiency than their non-golfer counterparts. Furthermore, the more frequently CEOs play golf, the better their firms’ R&D investment efficiency. These interesting results seem to suggest that golf court may serve as a useful platform for top executives to exchange investment information and establish efficient communication channel with other firms. On the other hand, this study also find CEOs’ golfing skill has significant negative impact on firms’ R&D investment efficiency, implying that better-skilled CEOs may tend to be overconfident, resulting poor R&D investment efficiency.
This study does not find significant impact of both CFOs’ golfing skill and golfing frequency on firms’ R&D investment efficiency, indicating that CFOs may not play as important role as CEOs when it comes to R&D investment decisions.

第一章 緒論 1
1.1研究背景與動機 1
1.2研究目的 3
1.3研究流程 4
第二章 文獻探討 5
2.1高爾夫球作為商業互動之平台 5
2.2過度自信對公司之影響 6
2.3過度投資 9
2.4企業社交活動對公司的影響 10
2.5 R&D研究發展 11
第三章 研究方法 13
3.1 研究假說 13
3.2資料分析方法 14
3.2.1敘述性統計 14
3.2.2 迴歸分析 14
3.3資料來源與樣本選取 15
3.4 應變數 19
3.5 自變數 20
3.6 控制變數 22
3.7實證研究模型 23
第四章 研究結果與分析 25
4.1 敘述性統計 25
4.2迴歸分析 32
4.2.1 CEO、高階經理人從事高爾夫運動與否與公司之R&D績效表現之關係 32
4.2.2 CEO、高階經理人之球技(過度自信)是否會影響公司之R&D績效表現 34
4.2.3 CEO、高階經理人從事高爾夫運動之頻率與公司之R&D績效表現之關係 36
4.2.4小結 CEO、高階經理人之球技及頻率與公司之R&D績效表現之關係 38
第五章 結論與建議 40
參考文獻 42

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