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題名:探索企業智慧資本的量度與經營績效--以全球十大半導體設備公司為例
書刊名:評價學報
作者:洪志洋 引用關係衛俊宏姜榮新許楨屏
作者(外文):Hung, Chin-youngWei, Chun-hungJiang, Rung-shinHsu, Chen-ping
出版日期:2013
卷期:6
頁次:頁27-51
主題關鍵詞:智慧資本研發強度創新速度資本支出半導體設備公司Intellectual capitalRInnovation speedCapital expenditureSemiconductor equipment companies
原始連結:連回原系統網址new window
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  • 被引用次數被引用次數:期刊(0) 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:0
  • 共同引用共同引用:103
  • 點閱點閱:40
智慧資本的相關實證研究不足,最大的困難在於智慧資本的概念難以量化與量度。會計及財務學界從企業的產出這個面向量度智慧資本,而本研究則嘗試從企業的資源投入這個面向來量度企業的智慧資本。我們以全球半導體設備供應商為對象,探討智慧資本投入三個構面(研發強度、資本支出與創新速度)與企業經營績效 之關連性。使用2000年到2010年COMPUSTAT資料庫的財務資料,我們發現所構 建的三項智慧資本投入因素中,僅有創新速度具有明顯的智慧資本内涵。而研發強度與資本支出這兩項因素,個別來看則不具有明顯的智慧資本成分。但是所有的互 動項對於Tobin’s Q都有顯著的關連性,也就是研發資源以及資本支出的資源投入具有顯著的综效。這様的證據支持以下的看法,研發資源的投入與硬體資本支出的投入兩者是相得益彰的,單單投入研發活動,或單單加大資本支出,都不足產生明確 的智慧資本產出。但是,同時加大軟體的研發強度與硬體的資本支出則可以產生顯著的智慧資本功效。
There has been less empirical research of intellectual capital because of the difficulty measurement the real value of intellectual capital. Over the past few years a considerable number of studies have been made on the intellectual capital with the output of enterprise as proxy variable, and this study is intended as an investigation of using the resource of enterprise as proxy variable. This study focuses on top 10 semiconductor equipment suppliers in global to probe into the effects of R
期刊論文
1.洪榮華、劉永欽、張力、林欣宜(20070500)。研發投資宣告與股票價值關係之實證研究--對手公司與產業集中度的觀點。輔仁管理評論,14(2),1-26。new window  延伸查詢new window
2.Lin, Bou-Wen、Lee, Yikuan、Hung, Shih-Chang(2006)。R&D intensity and commercialization orientation effects on financial performance。Journal of Business Research,59(6),679-685。  new window
3.徐子光、郭彥良(20061200)。無形資產對企業績效影響之研究--以LED產業為例。績效與策略研究,3(2),1-10。new window  延伸查詢new window
4.Connolly, R. A.、Hirschey, M.(1984)。R&D, Market Structure and Profits: A Value-Based Approach。The Review of Economics and Statistics,66(4),682-686。  new window
5.Leachman, R. C.、Ding, S.(2007)。Integration of Speed Economics into Decisionmaking for Manufacturing Management。International Journal of Production Economics,107(1),39-55。  new window
6.Lou, C. C.、Lee, T. P.、Gong, S. C.、Lin, S. L.(2010)。Effects of Technical Innovation on Market Value of The U.S. Semiconductor Industry。Technological Forecasting and Social Change,77(8),1322-1338。  new window
7.Tan, H.、Mathews, J. A.(2010)。Cyclical Industrial Dynamics: The Case of The Global Semiconductor Industry。Technological Forecasting and Social Change,77(2),344-353。  new window
8.林美倫(20070900)。研發支出對經營績效及股權評價影響之研究。臺南科大學報(人文管理),26,115-133。  延伸查詢new window
9.Hall, B. H.(1993)。The stock market’s valuation of R&D investment during the 1980’s。American Economic Review,83(2),259-264。  new window
10.Hirschey, M.(1982)。Market Power and Foreign Involvement by U.S. Multinationals。The Review of Economics and Statistics,64(2),343-346。  new window
11.Hussi, T.、Ahonen, G.(2002)。Managing Intangible Assets--A Question of Integration and Delicate Balance。Journal of Intellectual Capital,3(3),277-286。  new window
12.Megna, Pamela、Klock, Mark(1993)。The impact of intangible capital on Tobin's q in the semiconductor industry。American Economic Review,83(2),265-269。  new window
13.Cockburn, Iain、Griliches, Zvi(1988)。Industry Effects and Appropriability Measures in The Stock Market's Valuation of R&D and Patents。The American Economic Review,78(2),419-423。  new window
14.Berger, Philip G.(1993)。Explicit and Implicit Tax Effects of the R&D Tax Credit。Journal of Accounting Research,31(2),131-171。  new window
15.Jaffe, Adam B.(1986)。Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits, and Market Value。The American Economic Review,76(5),984-1001。  new window
16.Blundell, Richard、Griffith, Rachel、Van Reenen, John(1999)。Market Share, Market Value and Innovation in a Panel of British Manufacturing Firms。The Review of Economic Studies,66(3),529-554。  new window
17.Baysinger, Barry、Hoskisson, Robert E.(1989)。Diversification Strategy and R&D Intensity in Multiproduct Firms。The Academy of Management Journal,32(2),310-333。  new window
18.Garnera, J. L.、Namb, J.、Ottoob, R. E.(2002)。Determinants of corporate growth opportunities of emerging firms。Journal of Economics and Business,54(1),73-93。  new window
19.金成隆、林修葳、邱煒恒(20050900)。研究發展支出與資本支出的價值攸關性:以企業生命週期論析。中山管理評論,13(3),617-643。new window  延伸查詢new window
20.Hansson, Bo(1997)。Personnel Investments and Abnormal Return: Knowledge-Based Firms and Human Resource Accounting。Journal of Human Resource Costing and Accounting,2(2),9-29。  new window
21.Sher, P. J.、Yang, P. Y.(2005)。The Effects of Innovative Capabilities and R&D Clustering on Firm Performance: The Evidence of Taiwan's Semiconductor Industry。Technovation,25(1),33-43。  new window
22.Chung, Kee H.、Pruitt, Stephen W.(1994)。A Simple Approximation of Tobin's Q。Financial Management,23(3),70-74。  new window
23.Levin, Andrew、Lin, Chien-Fu、Chu, Chia-Shang James(2002)。Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties。Journal of Econometrics,108(1),1-24。  new window
24.Bushee, Brian J.(1998)。The influence of institutional investors on myopic R&D investment behavior。The Accounting Review,73(3),305-333。  new window
25.王文英、李佳玲(20080700)。策略、智慧資本觀點下之價值鏈活動與財務績效關連性:臺灣資訊電子業之實證研究。會計評論,47,89-121。new window  延伸查詢new window
學位論文
1.賴莉齡(2008)。研發強度、商品化導向與創新速度對財務績效影響之研究--以台灣上市上櫃光電產業公司為例(碩士論文)。國立臺北大學。  延伸查詢new window
2.陶宜勇(2004)。半導體設備服務之策略研究--以應用材料公司為例(碩士論文)。國立交通大學。  延伸查詢new window
3.葉集賢(2009)。研發支出及資本支出對企業經營績效之影響--以臺灣半導體產業為例(碩士論文)。國立成功大學。  延伸查詢new window
4.程銀宗(2000)。資本支出宣告之市場反應影響因素探討(碩士論文)。國立中正大學。  延伸查詢new window
5.黃麗芬(2003)。景氣循環、研究發展對財務績效影響之研究--以我國上市上櫃資訊電子業為例(碩士論文)。中原大學。  延伸查詢new window
6.陳美純(2001)。資訊科技投資與智慧資本對企業績效影響之研究(博士論文)。國立中央大學。new window  延伸查詢new window
圖書
1.馬秀如(2000)。資訊軟體業無形資產鑑價制度之研究。台灣證券交易所股份有限公司。  延伸查詢new window
2.洪志洋(2010)。企業評價:原理與實務。新陸書局。  延伸查詢new window
3.Smith, Gordon V.、Parr, Russell L.(2000)。Valuation of Intellectual Property and Intangible Assets。New York:John Wiley & Sons, Inc。  new window
 
 
 
 
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