人力資本、結構資本與關係資本對企業價值影響之研究─以台灣地區電子資訊、化學生技、紡織、機電業加以實證

The Study of the Influence of Human Capital, Structural Capital, and Relational Capital on the Value of the Firm-Verifying on Taiwanese Enterprises in Electronics and Information, Chemical and Biotechnology, Textile, Mechanical and Electrical Industries

林妙雀(Miao-Que Lin) ； 酈芃羽(Peng-Yu Li)

《高應科大人文社會科學學報》 1卷 (2004/07) Pp. 233-249

https://doi.org/10.29888/KUASJHSS.200407.0013

摘要

隨著知識經濟時代的來臨，技術知識與創新活動所累積的無形資產，成為企業創造價值的關鍵資源。緣於過去對於企業價值之評估，僅限於財務資訊，無法彰顯企業之員工價值、流程價值、成長與創新及客戶價值等構面，本研究為深入評估企業價值，乃建構以人力資本、結構資本及關係資本等智慧資本為自變數，而市場價值、每股盈餘、市價淨值比之企業價值作為因變數之研究架構，並以台灣地區上市上櫃公司之電子資訊（有效樣本360家）、化學生技（47家）、紡織（47家）及機電業（47家），當作研究分析對象，同時採用「基因演算法最佳化類神經網路模式」加以驗證，將所得結果與迴歸模式分析相互對照比較，期能找出企業價值之最適評估指標，並對企業提出策略建議。

關鍵字

智慧資本 ； 企業價值 ； 類神經網路 ； 基因演算法

並列摘要

Along with the era of knowledge economy, the accumulating intangible assets from technical knowledge and innovation have become the critical resources for creating the value of the firm. Since the previous studies of the value of the firm focused on the financial information, it was unable to reveal those constructs such as staff value, process value, growth, innovation and customer value. In order to evaluate the value of the firm, this study will try to construct a framework based on human capital, structural capital and relational capital of Intellectual capital as independent variables, and market value, earnings per share, the ratio of market price to net worth as dependent variables. Taiwanese listed/OTC enterprises in electronic and information (360 effective samples), chemical and biotechnology (47), textile (47) and mechanical and electrical (47) industries will be verified. Simultaneously, the research will implement the genetic algorithms optimizing artificial neural network model as an analytical tool and its result will be compared with that of the linear regression. From the analytical outcomes, the best evaluating index of the value of the firm will be found and then some strategic suggestions for enterprises will be offered.

並列關鍵字

Intellectual Capital ； The Value of the Firm ； Artificial Neural Network ； Genetic Algorithms