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題名：國際化深度對企業財務績效與公司價值影響之研究
書刊名：東亞論壇
作者：趙永祥 引用關係／李在僑／潘啟華
作者(外文)：Chao, Yuang Shiang／Lee, Zai Qiao／Pan, Chi Hwa
出版日期：2011
卷期：473
頁次：頁49-71
主題關鍵詞：產品多角化；國際化深度；財務績效；公司價值；Internationalized depth；Finance performance；Corporate value
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:66
  • 點閱點閱:242
本研究主要探討國際化深度與產品多角化兩者對台灣上市公司財務績效之影響，而此財務績效將分別從經營績效與公司價值兩個構面進行探討。國際化策略對公司財務績效會有正面影響，而且會隨國際化深度越高，將呈現U型曲線關係；相關產品多角化之績效會高於非相關產品多角化之績效。相關產品多角化結果對電子產業存在有顯著水準低負債比率的影響，而非相關產品多角化則相反。國際化可以增加跨國企業獲利能力外，在財務方面也可擴增國外籌資管道及工具，國際化策略明顯可以降低負債比率。至於企業在產品多角化與國際化相互交乘結果對績效之影響，其所呈現結果在顯著水準1%及5%之下與ROA、ROE 及ROS 之間則是正呈現正向關係；產品多角化與國際化深度相互交乘結果對財務績效有加重效益及顯著正向關係；而對公司價值的影響也是正向。整體而言，產品多角化程度與公司價值呈現正向相關。
The main purpose of this Paper is to discuss the well-operated electrical companies which had been transacted in the Taiwan Exchange Stock Market. Focus of this research incorporated the following dimensions: finance performance and corporate value, in the meanwhile. This paper also provides the empirical results of cross-country performance of corporates from Taiwan. Final outcome showed that the degree of internationalized policy had positive relation with financial performance. With regard to corporate value approach, the outcome showed that degree of product diversification had positive relation with corporate value.
期刊論文
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27.葉銀華、邱顯比(19960800)。資本結構、股權結構與公司價值關聯性之實證研究：代理成本理論。臺大管理論叢，7(2)，57-89。new window  延伸查詢new window
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30.司徒達賢、劉維琪、羅庚辛(1995)。產品多角化策略與融資策略關係之研究。管理評論，201-214。new window  延伸查詢new window
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研究報告
1.經濟部統計處(2011)。中華民國•台灣地區製造業多角化暨國際化調查報告。  延伸查詢new window
圖書
1.行政院主計處(2010)。中華民國行業標準分類。臺北：行政院主計處。  延伸查詢new window
2.Phatak, Arvind V.(1992)。International Dimensions of Management。Boston：PWS-Kent Publishing Company。  new window
3.Clarke, R. G.、Wilson, B.、Daines, R. H.、Nadauld, S. D.(1988)。Strategic Financial Management。Homewood, Ill：Irwi。  new window
4.Rumelt, R. P.(1974)。Strategy, Structure, and Economic Performance。Boston, MA：Harvard University, Graduate School of Business Administration。  new window
5.Allen, Booz、Hamilton(1985)。Diversification: A Survey of European Chief Exectives。NY：Booz, Allen and Hamilton, Inc.。  new window
6.Robinson, Richard D.(1984)。International of Business: An Introduction。台北。  new window
其他
1.經濟部投資審議委員會(2011)。對外投資事業名錄。  延伸查詢new window
2.(2011)。  new window
3.經濟部投資審議委員會(2011)。上市上櫃對大陸事業名錄。  延伸查詢new window
 
 
 
 
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