智慧資本與企業績效之關聯性研究－以台灣之上市電腦及週邊設備產業為例

A Study of the Relationship Between Intellectual Capital and Business Performance - Evidences from the 3C Industry in Taiwan

歐陽秀怡(Hsiu-I Ouyang)

指導教授 ： 洪育忠

國立中正大學/管理學院/會計與資訊科技學系/碩士(2013年)

摘要

本論文之研究目的在於探討電腦及週邊設備產業之智慧資本對企業經營績效之影響。以台灣上市公司為樣本，研究期間為西元2006年至2010年，共計56家公司。利用統計迴歸方法檢視不同構面之智慧資本與企業經營績效的關係。實證結果顯示，人力資本方面：員工平均服務年資與經營績效指標(Tobin,s Q)有顯著關係，薪資費用率與經營績效指標(OPM及Tobin,s Q)有顯著關係，員工附加價值與經營績效指標(MROA、ROI、ROE及EPS)有顯著關係。創新資本方面：研發生產力與經營績效指標(MROA、ROI、ROE、OPM、EPS及Tobin,s Q)有顯著關係，研發比例支出與經營績效指標(MROA、ROI、ROE、OPM、及EPS)有顯著關係，研發密集度與經營績效指標(OPM)有顯著關係，研發強度與經營績效指標(ROE、OPM及EPS)有顯著關係。流程資本方面：應收帳款週轉天數與經營績效指標(ROI、ROE、OPM及Tobin,s Q)有顯著關係，淨營業週期與經營績效指標(OPM及Tobin,s Q)有顯著關係。顧客資本方面：產品退回比率與經營績效指標(OPM)有顯著關係，營收成長率與經營績效指標(MROA、ROI、ROE、OPM、EPS及Tobin,s Q)有顯著關係。
希望藉由本研究實證結果，使電腦及週邊設備產業得以了解本身之競爭優勢，做為企業資本投入與企業改進方向之參考。

關鍵字

智慧資本衡量指標 ； 人力資本 ； 創新資本 ； 流程資本 ； 顧客資本 ； 經營績效 ； 電腦及週邊設備產業

並列摘要

This study aims to explore how intellectual capital(IC) affects business performance in the 3C industry. All 56 research samples are the public listed companies in Taiwan. The research period is from 2006 to 2010. This study employs the traditional regression approach to examine the relationship between IC and business performance. The research findings reveal that, for human capital, the average seniority of employees is significant related to Tobin’s Q; salary ratio is significant related to OPM and Tobin’s Q; the added value created by employees is significant related to MROA, ROI, ROE, and EPS. For Innovation Capital, R&D productivity is significant related to MROA, ROI, ROE, OPM, EPS and Tobin,s Q; the proportion of R&D spending is significant related to MROA, ROI, ROE, OPM and EPS; R&D density is significant related to OPM; R&D intensity is significant related to ROE, OPM and EPS. For Process Capital, Days sales outstanding is significant associated with ROI, ROE, OPM and Tobin,s Q; Net Operating Cycle is significant associated with OPM and Tobin,s Q. For Customer Capital, Return the product ratio is significant associated with OPM; Revenue Growth Rate is significant associated with MROA, ROI, ROE, OPM, EPS and Tobin,s Q.
The research findings are expected to help the firms to figure out their competitive edges and to make investment or improvement.

並列關鍵字

Intellectual Capital indicator ； Human Capital ； Innovation Capital ； Process Capital ； Customer Capital ； Business performance ； 3C industry

參考文獻

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