台灣多國籍企業與財務績效

Multinational Enterprises in Taiwan and Their Financial Performance

施靜慧(Ching-Hui Shih)

《文大商管學報》 11卷1期 (2006/06) Pp. 1-10

https://doi.org/10.30163/BR.200606.0001

摘要

本研究針對台灣多國籍企業之財務績效進行實證分析，樣本選取台灣證券交易所掛牌上市的公司，研究期間為88年（130筆）及93年（130筆），合計260筆資料。以多元迴歸模式，檢定「多國籍企業可以增加企業的財務績效」之理論假設，由實證結果得知：(1)多國籍企業可以增加企業的財務績效。(2)影響台灣多國籍企業財務績效之最重要因素分別為企業規模、財務槓桿、海外盈餘及海外銷售能力。(3)台灣多國籍企業投入研發費用與財務績效之關係並不顯著。(4)台灣多國籍企業舉債結果，因必須支付利息費用關係，與財務績效呈顯著負相關。(5)從台灣多國籍企業93與88二年之資料比較，發現母子公司總盈餘成長之倍數與海外盈餘成長之倍數相當。

關鍵字

多國籍企業 ； 財務績效

並列摘要

This paper presents an empirical study of Taiwanese MNC's financial performance. Samples for this research are 260 data collected from companies listed in TSE, 130 each in 1999 and 2004. This article employed the Multiple Regression Model to examine the hypothesis that being a multinational enterprise will have a positive effect on the company's financial performance. The study found that：(1) MNC can increase the company's financial performance. (2) The most significant factors to influence MNC's financial performance are: Firm size, financial leverage, overseas earnings and sales. (3) There is no obvious relation between MNC's investment on R&D and the outcome of the financial performance. (4) Because of being contracted debts, Taiwanese MNCs have to pay interests, which cause a negative correlation with their financial performances. (5) The findings, by comparing the MNC data of 1999 with 2004, indicate that the growth rate of the total earnings of parent-subsidiary companies is equal to that of overseas earnings.

並列關鍵字

MNC ； Financial Performance

參考文獻

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