藉由此次的研究,我們探討公司規模大小、公司年齡、行銷活動的支出以及研究發展的費用,對於公司資產報酬率的表現,甚至進而對股票報酬的影響是幾乎成現正向關係,但由於一年期的結論與多年期的結論在實證結果有不一樣的有趣結果,在一年期的時候,公司年齡對於公司的資產報酬率有著顯著的正向關係,但在多年卻是公司規模對資產報酬率有較顯著的正向關係,這是我們在台灣電子產業看到的有趣實證。本文中,將利用資料包絡分析法與線性迴歸對台灣30家上市公司,進行資料蒐集與實證分析。藉此提出有利之證據支持,行銷活動對於公司績效的表現其實有著顯著的影響,也將在結論的地方提出對於在其電子業公司的提議。
This research investigates that whether annual DEA efficiency, firm size, company ages and R&D influence ROA (return on asset) and then further to the stock returns. We use DEA and regression to test the hypothesis and collect the data from the electronic industry of Taiwan from 2006-2009. The empirical results from our research indicate that company ages significantly influence stock return in annual year; firm size significantly influence stock return in the long run. Marketing communication expenditures is really do influence ROA no matter in the short or long run. Consequently, managers in electronic industry of Taiwan can use empirical results from our study to develop their marketing communication strategy and make their performance of firm become more efficiency on their management.