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題名 智慧資本揭露之效益及其影響因素之研究
作者 陳純綾
Chen, Chun-Ling
貢獻者 王文英
陳純綾
Chen, Chun-Ling
關鍵詞 智慧資本揭露
資訊電子業
公司特性
公司價值
揭露效益
IC-related information disclosure
electronic industry
company property
company value
effects of IC disclosure
日期 2006
上傳時間 11-Sep-2009 17:26:01 (UTC+8)
摘要 在現今知識經濟的世紀中，智慧資本已成為企業獲取競爭優勢的關鍵要素。
     隨著智慧資本愈來愈重要，許多企業也逐漸在年報或其他公開資訊的管道中，揭
     露更多有關智慧資本的資訊。透過更多智慧資本資訊的揭露，為企業本身及投資
     人、債權人間建立起彼此溝通的橋樑。
     綜上所述，智慧資本的報導和揭露顯得日趨重要。相關智慧資本資訊的揭露
     能使投資人及相關利害關係人更了解公司發展的潛力及價值。而過去的文獻指出
     公司資訊揭露的程度會降低資金成本、提高公司股價、降低分析師盈餘預測誤差
     等效益。資訊的揭露可以使投資人修正對公司價值的評價，有提高股票流動率等
     效益。因此智慧資本揭露及報導能提昇財務報導的價值攸關性，適當地反應公司
     真正的價值。因此，對公司而言應多揭露相關智慧資本資訊，以期為公司帶來相
     關的效益。但是，哪些公司特性因素會影響智慧資本揭露程度及其是否會影響智
     慧資本揭露程度和其效益間的關聯性亦是值得我們進一步探討。
     若能透過一系列的分析，找出公司智慧資本揭露政策不足之處，相信能給公
     司適當的建議，以符合市場上的需求，適當地揭露智慧資本，以期反應公司真正
     的價值並提高公司價值。
     本研究係以我國資訊電子業之上市公司為研究對象，蒐集相關資料以統計分
     析方法進行，發現之結果如下：
     一、公司智慧資本揭露程度和公司價值呈顯著正相關。
     二、「公司規模」、「舉債程度」、「公司年齡」會顯著影響公司智慧資本揭露程度。
     三、「公司規模」、「獲利能力」、「公司年齡」、「智慧資本降加價值係數(VAICTM )」
     會顯著影響智慧資本揭露程度及公司價值間的關聯性。
In this knowledge-based economy, intellectual capital is the key factor to help
     firms get its competitive advantage. As intellectual capital is more and more important,
     many enterprises gradually disclose IC-related information in annual reports or other
     ways. With more IC-related information disclosures, it could build a bridge to
     communicate between enterprises, investors, and creditors.
     To sum up the above-mentioned, intellectual capital disclosure and report is more
     and more significant with time. IC-related information discourses can make investors
     and stakeholders understand the value and potential of the company much more. Prior
     research indicates disclosing information could reduce the average cost of capital and
     increase company’s stock value and reduce analyst forecast errors. Information
     disclosure can make investors revise upward valuations of the company’s stocks and
     increase stock liquidity. Therefore, for companies, they should disclose IC-related
     information in order to bring effects. But, which kind of company would affect
     IC-related information and affect the relation between IC-related information and its
     effects is also worth to investigate further.
     If we can find out deficiency of company’s IC-related information with above
     analysis, it will be believed to give some appropriate suggestions in order to match
     market’s needs. Disclosing IC-related information is aimed to react the company’s
     real value.
     In this study, collecting data and statistics analysis are used. The public firms in
     the electronic industry are the objects of the thesis. We fund that:
     1. There is a positive and significant correlation between IC disclosure and market
     capitalization.
     2. Company size, leverage, and age will affect IC-related information disclosure
     significantly.
     3. Company size, profitability, age, and VAIC TM will affect the relation between
     IC-related information disclosure and its effects (market capitalization)
     significantly.
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描述 碩士
國立政治大學
會計研究所
94353011
95
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0094353011
資料類型 thesis
dc.contributor.advisor 王文英zh_TW
dc.contributor.author (Authors) 陳純綾zh_TW
dc.contributor.author (Authors) Chen, Chun-Lingen_US
dc.creator (作者) 陳純綾zh_TW
dc.creator (作者) Chen, Chun-Lingen_US
dc.date (日期) 2006en_US
dc.date.accessioned 11-Sep-2009 17:26:01 (UTC+8)-
dc.date.available 11-Sep-2009 17:26:01 (UTC+8)-
dc.date.issued (上傳時間) 11-Sep-2009 17:26:01 (UTC+8)-
dc.identifier (Other Identifiers) G0094353011en_US
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/30195-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 會計研究所zh_TW
dc.description (描述) 94353011zh_TW
dc.description (描述) 95zh_TW
dc.description.abstract (摘要) 在現今知識經濟的世紀中，智慧資本已成為企業獲取競爭優勢的關鍵要素。
     隨著智慧資本愈來愈重要，許多企業也逐漸在年報或其他公開資訊的管道中，揭
     露更多有關智慧資本的資訊。透過更多智慧資本資訊的揭露，為企業本身及投資
     人、債權人間建立起彼此溝通的橋樑。
     綜上所述，智慧資本的報導和揭露顯得日趨重要。相關智慧資本資訊的揭露
     能使投資人及相關利害關係人更了解公司發展的潛力及價值。而過去的文獻指出
     公司資訊揭露的程度會降低資金成本、提高公司股價、降低分析師盈餘預測誤差
     等效益。資訊的揭露可以使投資人修正對公司價值的評價，有提高股票流動率等
     效益。因此智慧資本揭露及報導能提昇財務報導的價值攸關性，適當地反應公司
     真正的價值。因此，對公司而言應多揭露相關智慧資本資訊，以期為公司帶來相
     關的效益。但是，哪些公司特性因素會影響智慧資本揭露程度及其是否會影響智
     慧資本揭露程度和其效益間的關聯性亦是值得我們進一步探討。
     若能透過一系列的分析，找出公司智慧資本揭露政策不足之處，相信能給公
     司適當的建議，以符合市場上的需求，適當地揭露智慧資本，以期反應公司真正
     的價值並提高公司價值。
     本研究係以我國資訊電子業之上市公司為研究對象，蒐集相關資料以統計分
     析方法進行，發現之結果如下：
     一、公司智慧資本揭露程度和公司價值呈顯著正相關。
     二、「公司規模」、「舉債程度」、「公司年齡」會顯著影響公司智慧資本揭露程度。
     三、「公司規模」、「獲利能力」、「公司年齡」、「智慧資本降加價值係數(VAICTM )」
     會顯著影響智慧資本揭露程度及公司價值間的關聯性。		zh_TW
dc.description.abstract (摘要) In this knowledge-based economy, intellectual capital is the key factor to help
     firms get its competitive advantage. As intellectual capital is more and more important,
     many enterprises gradually disclose IC-related information in annual reports or other
     ways. With more IC-related information disclosures, it could build a bridge to
     communicate between enterprises, investors, and creditors.
     To sum up the above-mentioned, intellectual capital disclosure and report is more
     and more significant with time. IC-related information discourses can make investors
     and stakeholders understand the value and potential of the company much more. Prior
     research indicates disclosing information could reduce the average cost of capital and
     increase company’s stock value and reduce analyst forecast errors. Information
     disclosure can make investors revise upward valuations of the company’s stocks and
     increase stock liquidity. Therefore, for companies, they should disclose IC-related
     information in order to bring effects. But, which kind of company would affect
     IC-related information and affect the relation between IC-related information and its
     effects is also worth to investigate further.
     If we can find out deficiency of company’s IC-related information with above
     analysis, it will be believed to give some appropriate suggestions in order to match
     market’s needs. Disclosing IC-related information is aimed to react the company’s
     real value.
     In this study, collecting data and statistics analysis are used. The public firms in
     the electronic industry are the objects of the thesis. We fund that:
     1. There is a positive and significant correlation between IC disclosure and market
     capitalization.
     2. Company size, leverage, and age will affect IC-related information disclosure
     significantly.
     3. Company size, profitability, age, and VAIC TM will affect the relation between
     IC-related information disclosure and its effects (market capitalization)
     significantly.		en_US
dc.description.tableofcontents 圖目錄..........................................................................................................................II
     表目錄........................................................................................................................ III
     第一章 緒論...............................................................................................................1
     第一節 研究背景及動機..........................................................................................1
     第二節 研究目的及問題..........................................................................................2
     第三節 論文架構與研究流程..................................................................................3
     第二章 文獻探討.......................................................................................................5
     第一節 資訊揭露程度之相關文獻..........................................................................5
     第二節 重要智慧資本項目之相關文獻..................................................................6
     第三節 資訊揭露效益之相關文獻........................................................................17
     第四節 智慧資本揭露程度與公司特性因素之相關文獻....................................18
     第五節 研究延伸....................................................................................................22
     第三章 研究設計.....................................................................................................38
     第一節 觀念性架構................................................................................................38
     第二節 研究假說....................................................................................................39
     第三節 變數定義與衡量........................................................................................41
     第四節 研究樣本與資料蒐集................................................................................44
     第五節 資料分析方法............................................................................................45
     第六節 實證模型....................................................................................................46
     第四章 實證結果分析.............................................................................................48
     第一節 智慧資本揭露程度分析............................................................................48
     第二節 敘述性統計................................................................................................51
     第三節 相關係數分析............................................................................................52
     第四節 實證迴歸分析............................................................................................55
     第五章 研究結論與建議.........................................................................................63
     第一節 研究結論....................................................................................................63
     第二節 研究建議....................................................................................................65
     第三節 研究貢獻....................................................................................................66
     第四節 研究限制....................................................................................................67
     參考文獻.....................................................................................................................69		zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0094353011en_US
dc.subject (關鍵詞) 智慧資本揭露zh_TW
dc.subject (關鍵詞) 資訊電子業zh_TW
dc.subject (關鍵詞) 公司特性zh_TW
dc.subject (關鍵詞) 公司價值zh_TW
dc.subject (關鍵詞) 揭露效益zh_TW
dc.subject (關鍵詞) IC-related information disclosureen_US
dc.subject (關鍵詞) electronic industryen_US
dc.subject (關鍵詞) company propertyen_US
dc.subject (關鍵詞) company valueen_US
dc.subject (關鍵詞) effects of IC disclosureen_US
dc.title (題名) 智慧資本揭露之效益及其影響因素之研究zh_TW
dc.type (資料類型) thesisen
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