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題名:中小企業與上市公司財務比率之比較
書刊名:中小企業發展季刊
作者:林有志 引用關係溫櫻貞曾乾豪
作者(外文):Lin, Yu-ChihWen, Ying-ChenTseng, Chien-Hao
出版日期:2007
卷期:4
頁次:頁1-20
主題關鍵詞:中小企業財務比率Small and medium enterprisesSMEsFinancial ratio
原始連結:連回原系統網址new window
相關次數:
  • 被引用次數被引用次數:期刊(3) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:3
  • 共同引用共同引用:25
  • 點閱點閱:55
  本文旨在探討中小企業與上市公司間重要財務比率之差異,並討論造成此差異之原因,藉此增進對中小企業之瞭解。本文將402個樣本區分為中小企業與上市公司2組,分別以Mann-Whitney U均數檢定及Logistic迴歸分析進行假說之驗證,實證結果顯示:(1)中小企業之銀行直接融資比率顯著低於上市公司,但負債比率卻顯著大於上市公司。(2)中小企業之流動比率、速動比率均較上市公司為高。(3)中小企業存貨週轉率、總資產週轉率較上市公司為高。(4)資產報酬率、股東權益報酬率、利潤率受到公司規模之影響,中小企業與上市公司差異不大。(5)有效稅率因上市公司多受租稅減免之優惠,致使中小企業之有效稅率較上市公司略高。
  In order to understand more about small and medium enterprises (SMEs), this paper examines and discusses the differences in the key financial ratios between SMEs and listed companies. The sample includes 201 SMEs and 201 listed companies. We use Man- Whitney test and the Logistic regression models to test the established hypotheses. The empirical results are as follows : (1)SMEs have higher debt ratios, but have less direct bank financing. (2)SMEs have higher current ratio and quick ratio. (3)SMEs have higher inventory and asset turnover ratios. (4)Return on assets, return on equity and profit ratio show no significant difference between SMEs and listed companies. (5)SMEs have higher effective tax rate.
期刊論文
1.Marsh, Paul(1982)。The Choice between Equity and Debt: An Empirical Study。Journal of Finance,37(1),121-144。  new window
2.葉銀華、柯承恩、蘇裕惠(20000600)。中小企業財務結構與經營績效關係之研究。中山管理評論,8(2),303-323。new window  延伸查詢new window
3.Kotey, B.、Meredith, G. G.(1997)。Relationships among owner/manager personal values, business strategies, and enterprise performance。Journal of Small Business Management,35(2),37-61。  new window
4.Schipper, K.(1989)。Commentary on earning management。Accounting Horizons,3(4),91-102。  new window
5.Titman, Sheridan、Wessels, Roberto(1988)。The determinants of capital structure choice。The Journal of Finance,43(1),1-19。  new window
6.Healy, Paul M.、Wahlen, James M.(1999)。A review of the earnings management literature and its implications for standard setting。Accounting Horizons,13(4),365-383。  new window
7.鍾惠珍(1999)。讓政府成為中小企業的好幫手。會計研究月刊,167,22-25。  延伸查詢new window
8.蔡揚宗(2005)。協助中小企業融資。會計研究月刊,240,11-14。  延伸查詢new window
9.蘇裕惠、陳依蘋(2005)。讓中小企業成爲黃金企業。會計研究月刊,241,44-50。  延伸查詢new window
10.黃瑞靜(2005)。影響我國中小企業資本結構因素之探討--負債代理成本。亞太社會科技學報,4(2),129-144。  延伸查詢new window
11.詹乾隆(2003)。中小企業最適財務結構之研究。管理會計,66,35-48。  延伸查詢new window
12.Guptas, M.(1969)。The Effect of Size, Growth, and Industry on the Financial Structure of Manufacturing Companies。Journal of Finance,24(3),517-529。  new window
13.Healy, P.(1985)。The Impact of Bonus Schemes on the Selection of Accounting Principles。Journal of Accounting and Economics,7(1),85-107。  new window
14.Beaver, W.H.(1967)。Financial Ratio as Predictors of Failure。Journal of Accounting Research,4,71-111。  new window
15.Walker, E. W.、Petty, J. W.(1978)。Financial Differences between Large and Small Firms。Financial Management,7(4),61-68。  new window
16.Olson, P. D.、Bokor, D.(1995)。Strategy Process-Content Interaction: Effects on Growth Performance in Small Start-Up Firms。Journal of Small Business Management,33(1),34-44。  new window
17.Kotey, B.(1999)。Debt Financing and Factor Internal to the Business。International Small Business Journal,17(3),11-30。  new window
圖書
1.郭敏華(2004)。財務報表分析:評價應用。臺北市:智勝。new window  延伸查詢new window
2.吳明隆、涂金堂(2005)。SPSS與統計應用分析實務。五南圖書出版股份有限公司。  延伸查詢new window
3.經濟部中小企業處(2006)。中小企業白皮書。台北:經濟部中小企業處。  延伸查詢new window
4.Needles JR, B.E.、Powers, M.(1995)。Financial Accounting。  new window
 
 
 
 
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