品牌價值與經營績效及公司價值之關聯性研究

The Association of brand equity, business performance and business value

張閔婷(Chang Min-Ting)

指導教授 ： 楊清溪

國立臺北大學/商學院/會計學系/碩士(2008年)

摘要

有鑑於先前對於品牌之研究，多以品牌與公司財務績效之相關性作為探討的主題，缺乏考慮公司其他構面之經營績效，是否亦會對於品牌之價值產生影響，有欠周全。本研究擬採Kaplan與Norton提出的平衡計分卡，從財務、顧客、內部流程與組織學習與成長四大構面，探討品牌與公司整體之經營績效間是否存在著相關性，並更進一歩探討品牌價值與經營績效對於企業價值和股價之影響。本研究以我國半導體產業為研究對象，應用HIROSE品牌評價模式，透過邏輯實證量化分析方法，以取得強化品牌價值能提升公司整體價值與股東價值之結論，供我國發展自有品牌之企業做為參考依據，以利企業進行品牌的管理及發展，進而能強化並提升企業與股東的價值。本研究實證結果發現：
一、企業財務構面、顧客構面、創新流程構面及組織學習與成長構面的經營績效皆會　影響企業品牌價值的高低。
二、品牌價值及公司的財務績效和創新流程績效與企業價值呈現正相關，當公司之品牌價值越高且經營績效越好時，公司的價值相對越高。
三、品牌價值、財務績效、創新流程績效及員工生產力與股票價值呈現正相關，顯示當公司之品牌價值越高且經營績效越好時，公司的股價相對越高。

關鍵字

品牌價值 ； 經營績效 ； 公司價值

並列摘要

Considering the fact that most researches on brands all focused on the relevance between financial performance and brand equity, which did not take into account the effects of the performance for other operational aspects, this report, therefore, will take the approach of Balanced Score Card, which was asserted by Kaplan and Norton in 1992, to study the relevance between brands and overall business performance from the views of finance, customer, internal process, and organization’s learning and growth. It will also gain more in-depth understandings in the influences that brand equity and business performance have on business value and stock equity. This research is to prove that strengthening brand equity can enhance overall business performance and stockholder’s value, using HIROSE Brand Valuation Models and regression analysis on the industry of semi-conductor in Taiwan, to provide the reference for Taiwanese enterprises when launching their home brands. This research concludes the following：
1. Overall business performance is crucial to brand equity, for that it has considerable effects on brand equity.
2. Brand equity, financial performance and R&D performance have positive effects on business value.
3. Brand equity, financial performance, R&D and employees’ productivity have positive effects on stock equity.

並列關鍵字

Brand equity ； Business performance ； Business value

參考文獻

1. Aaker, David A., 1991, Managing Brand Equity: Capitalizing on the Value of a Brand Name. New York: The Free Press.

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