智慧資本與資訊透明度對財務性指標變動率之影響

The Influence of Intellectual Capital and Information transparency on Financial Indicators Volatility

葉虹妤(Hung-Yu Yeh)

指導教授 ： 蔡東亦

台南應用科技大學/管理學院/商學與管理研究所/碩士(2008年)

摘要

知識經濟時代下，智慧資本成為提升企業競爭力之重要籌碼。公司之財務報表訊息，是投資大眾及股東衡?企業是否具有投資價值之?考依據，但對於創造企業高價值之「智慧資本」是無法被列帳的，故需藉由非財務性指標之揭露彌補財務性指標之不足，使得資訊揭露扮演著舉足輕重之角色。但智慧資本是否會直接影響到公司之獲利能力、公司資訊透明度高是否增加其獲利能力、資訊透明化是否有助於累積智慧資本、為本研究欲探討的目的。
　　本研究以2003年初至2006年底之台灣指數五十成份股為研究對象，探討智慧資本與資訊透明度對獲利能力變動率間是否有顯著相關。實證結果顯示：員工平均年齡變動率與獲利能力變動率顯示負向相關。研發生產力變動率與獲利能力變動率有正向顯著關係。關係資本變動率與獲利能力不具任何顯著關係。員工平均服務年資變動率、組織穩定度變動率與資訊透明度變動率皆呈現負向顯著相關。

關鍵字

智慧資本 ； 資訊透明度 ； 獲利能力 ； 變動率 ； 台灣五十指數成份股

並列摘要

Under the era of knowledge economy, the Intellectual Capital becomes to the important counter of the promotion enterprise competition. The financial statement of the company can be taken as a reference that can be evaluated if it is worth making the investment for all the investors and stockholders. But the intellectual capital of creating the high business value can not be the recognition, it needs to compensate for lack of financial index by disclosing the non-financial index and make the disclosure information play an important role. The purpose of this research is to discuss three points as below. The first one is the influence of intellectual capital on business profitability. Second, whether the high information transparency can increase profitability. Third, whether the information transparency is benefit accumulating the intellectual capital.
This research took TSEC Taiwan 50 Index as the sample during 2003-2006. It is to discuss a significant relationship of Intellectual capital and information transparency to profitability volatility. The results have shown as below. Employee average ages volatility is opposite relationship to profitability volatility. The Research and Development productivity (R and D productivity) is forward relationship to profitability volatility. There is no relationship between the Relationship Capital and profitability. Employee average service year volatility, Organization stability volatility and Information Transparency volatility are all opposite relationship to profitability volatility.

並列關鍵字

Intellectual Capital ； Information Transparency ； Profitability ； Volatility ； TSEC Taiwan 50 Index

參考文獻

壹、中文部份

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