科技的發達帶動各國經濟開放,企業面臨了全球競爭激烈的市場環境。企業在競爭環境中具備良好的經營管理能力,成為維持永續經營的重要因素。本研究係探討企業的經營管理能力與其決策價值之間的關聯性,並以2010年至2019年間的上市櫃公司為分析對象。研究結果發現,企業具備較佳的管理能力,能為其創造良好的投資效率及企業價值。而企業所偏重的策略類型為分析者策略時,會對其投資效率帶來正向影響。此外,企業之創新能力對投資效率及企業價值之影響,皆呈顯著正向關係。本研究之實證結果說明企業的管理能力、決策特性及創新能力,可提升其經營管理能力之決策價值,並增加競爭優勢以達永續經營之目的。
With the rapid development of science and technology, the international economic environment has become more unpredictable. For the aim of improving competitive advantage, firms with better managerial ability is an essential determinant of maintaining sustainable operation. Using the sample of Taiwan Stock Exchange listed firms for the period from 2010 to 2019, this study investigates the relationship between managerial ability and the value of firm decision making. The empirical results show that the better managerial ability increase investment efficiency and firm value. When firms adopt the analyzer business strategy, the investment efficiency is higher. Additionally, this study finds that innovation ability is positively associated with investment efficiency and firm value. Overall, this study provides evidence that managerial ability, business strategy and innovation ability are the key competitive advantages of corporate sustainability.