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題名:企業聲望與財務績效之研究
作者:葉日武
作者(外文):Ryh-Wu Yeh
校院名稱:國立東華大學
系所名稱:企業管理學系
指導教授:池文海
學位類別:博士
出版日期:2006
主題關鍵詞:構念效度財務績效企業聲望交互落差設計construct validitycorporate reputationcross-lagged designfinancial performance
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本論文包含下列三篇研究:
1. 探討三種常用企業聲望測量工具的單一構面、收斂與區隔效度、以及效標關聯效度。
2. 以較為適當的研究設計來驗證企業聲望與財務績效兩者的因果關係。
3. 整合多種理論,建構一個描述企業聲望與財務績效兩者因果機制的跨層級模式。
第一篇研究所使用的企業聲望測量工具包括天下雜誌標竿企業聲望調查題項、聲望商數、和知覺組織聲望量表,使用的統計分析工具包括Cronbach’s α、相關分析、探索性因素分析、和驗證性因素分析。主要研究發現為三種常用企業聲望測量工具不盡符合單一構面的要求,因此在實證應用上有必要進行完整的量表分析,而且三者之間的收斂效度偏低,彼此雖有部分重疊,但分別有其獨特的部分,因此實證研究發現可能視所使用的企業聲望測量工具而定。
第二篇研究引用天下雜誌標竿企業聲望調查結果和個別企業的財務資料,以交互落差設計來驗證企業聲望與財務績效兩者的因果關係,使用的統計分析工具包括交互落差相關分析、交互落差迴歸分析、和交互落差結構方程式。主要研究發現為企業聲望與經營規模(營業收入)關係密切,但是與獲利(權益報酬率)和成長(營收成長率)則呈現大致無關的兩條平行線。
第三篇研究整理了多種理論中對於企業聲望與財務績效兩者關係的主張,包括產業組織經濟學、利害關係人理論、資源基礎觀點、消費者行為、和社會心理學等等。其後並加以整合,建構出一個兼具完整性與可驗證性,而且顧及各個主要利害關係人的跨層級理論模式,填補了既有學術研究中對於這個議題的空白地帶。
This dissertation consists of three essays as follows:
1. To explore the unidimensionality, convergent and discriminant validity, and criteria-related validity of three commonly used corporate reputation measurement instruments.
2. To test the causal relationship between corporate reputation and financial performance with more appropriate research design.
3. To integrate various theories and construct a cross-level model of the causal mechanism between corporate reputation and financial performance.
The corporate reputation measurement instruments in the first essay are items of CommonWealth’s Reputation Survey, Reputation QuotientSM, and Perceived Organizational Prestige Scale. The statistical techniques used in the validation process are Cronbach’s α, correlation analysis, exploratory and confirmative factor analysis. The most important findings are as follows: the three commonly used corporate reputation measurement instruments are not unidimensional universally, the convergent validity between these instruments are low and the empirical findings with these instruments are possibly instrument-specific.
The second essay tests the causal relationship between corporate reputation and financial performance with CommonWealth’s Reputation Survey data and individual company’s financial data. The statistical techniques used in the test process are cross-lagged correlation analysis, cross-lagged regression analysis, and cross-lagged structural equation modeling. The most important findings are as follows: corporate reputation closely correlate with size (e.g., sales), and corporate reputation almost perfectly uncorrelate with profitability (e.g., return on equity) and growth (e.g., sales growth).
The third essay reviews the propositions of the relationship between corporate reputation and financial performance in various theories, including industrial organization economics, stakeholder theory, resource-based view, consumer behavior, social psychology, and so on. Furthermore, a cross-level and integrative model is constructed with completeness and testability. This model takes various major stakeholders into consideration and fills the blank space in academic research.
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