學術產出-學位論文

題名 研發合作之決定因素與績效:以台灣高科技產業為例
The Determinants and Performance of R&D cooperation: Evidence from Taiwan’s High-Technology Industries
作者 黃政仁
Huang, Cheng Jen
貢獻者 吳安妮
Wu,Anne
黃政仁
Huang, Cheng Jen
關鍵詞 研發合作
創新
研發投資
研發產出
財務績效
高科技產業
中介效果
R&D cooperation
Innovation
R&D investments
R&D outputs
Financial performance
High-technology industry
Mediating effect.
日期 2006
上傳時間 18-九月-2009 09:09:13 (UTC+8)
摘要 創新是複雜、昂貴、且高風險的活動,並且存在外部性,研發合作為促使企業從事創新的重要機制。本研究目的在於延伸過去理論性架構與實證研究,建立研發合作—創新—財務績效價值鏈。以下為研究問題:
1.吸收能力、知識外溢、與不確定性是否會影響研發合作的頻率?
2.研發合作是否可以提高研發投資、研發產出、與財務績效?
3.不同的研發合作型態如何影響研發合作的決定因素?
4.不同的研發合作型態如何影響研發合作的績效?
5.研發合作與財務績效的關係是否會受到研發投資與研發產出的中介影響?
本研究採用 two-industry, n-firm-per-industry Cournot 競爭模型探討研發合作、研發投資(創新之投入面)、研發產出(創新之產出面—非財務績效)、與財務績效的關係,並以台灣高科技產業為研究對象進行實證分析。對於台灣高科技產業的研發合作與創新活動,研究結果提供學術界與企業界更完整且廣泛的觀點。
實證結果支持公司擁有較高吸收能力的員工是從事研發合作的決定因素之一。另外,知識外溢的提高,亦將促使高科技公司進行研發合作。而在高度吸收能力與知識外溢下,公司採行一般合作之頻率較其他合作模式高。
另外,實證結果也發現研發合作的確鼓勵台灣高科技產業的公司進行更多研發的投資,並且持續創造較高的研發產出與財務績效。相對於其他合作型態,一般合作可以創造較高的研發產出與財務績效,因此為較佳的合作模式。而由於市場競爭的本質,使得水平合作公司之研發投資較垂直合作與一般合作少。最後,僅有研發投資並不足以提升公司的績效與維持競爭優勢,研發合作公司的創新能力與研發產出才是獲利力的決定因素。
Innovation is complex, costly, and risky and incurs externalities. R&D cooperation is thus a proper mechanism to encourage firms to innovate. The purposes of this dissertation are to extend the prior theoretical framework and empirical studies to establish a research framework for the R&D cooperation—innovation—financial performance chain. The research questions are as follows:
1.Do absorptive capacity, knowledge spillovers, and uncertainty affect the intensity of R&D cooperation?
2.Does R&D cooperation result in higher R&D investments, R&D outputs, and financial performance?
3.How do different R&D cooperation types influence the determinants of R&D cooperation?
4.How do different R&D cooperation types influence the performance of R&D cooperation?
5.Is the effect of R&D cooperation on financial performance mediated by R&D investments and R&D outputs?
In this dissertation I apply the two-industry, n-firm-per-industry Cournot competition models to theoretically examine the relationship between R&D cooperation, R&D investments (input perspective of innovation), R&D outputs (output perspective of innovation—non-financial performance), and financial performance. I then use Taiwan’s high-technology industry as a research sample and empirically test my research hypotheses. The results provide academia and practitioners with a more comprehensive view of R&D cooperation and innovation activity among Taiwan’s high-technology industries.
The empirical results support the argument that absorptive capacity has a positive impact on the frequency of R&D cooperation in high-technology industry. In addition, an increase in knowledge spillovers also tends to increase intensity to collaborate in R&D. Under high absorptive capacity and knowledge spillover, generalized R&D cooperation is preferred to other cooperative models.
The empirical results also show that R&D cooperation does encourage Taiwan’s high-technology firms to invest more resources in R&D, and leads to higher R&D outputs and financial performance under the characteristic of high knowledge spillovers. Relative to other cooperation types, generalized cooperation leads to higher R&D outputs and financial performance and is a superior cooperative model. Due to the nature of market competition, horizontal cooperative firms are not willing to invest too much in R&D relative to vertical cooperation and generalized cooperation. Finally, simply investing in R&D alone is not enough to achieve breakthrough performance and sustain a competitive advantage. The ability to innovate and generate R&D outputs determines the profitability of the cooperative company.
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描述 博士
國立政治大學
會計研究所
89353502
95
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0893535021
資料類型 thesis
dc.contributor.advisor 吳安妮zh_TW
dc.contributor.advisor Wu,Anneen_US
dc.contributor.author (作者) 黃政仁zh_TW
dc.contributor.author (作者) Huang, Cheng Jenen_US
dc.creator (作者) 黃政仁zh_TW
dc.creator (作者) Huang, Cheng Jenen_US
dc.date (日期) 2006en_US
dc.date.accessioned 18-九月-2009 09:09:13 (UTC+8)-
dc.date.available 18-九月-2009 09:09:13 (UTC+8)-
dc.date.issued (上傳時間) 18-九月-2009 09:09:13 (UTC+8)-
dc.identifier (其他 識別碼) G0893535021en_US
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/34256-
dc.description (描述) 博士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) 89353502zh_TW
dc.description (描述) 95zh_TW
dc.description.abstract (摘要) 創新是複雜、昂貴、且高風險的活動,並且存在外部性,研發合作為促使企業從事創新的重要機制。本研究目的在於延伸過去理論性架構與實證研究,建立研發合作—創新—財務績效價值鏈。以下為研究問題:
1.吸收能力、知識外溢、與不確定性是否會影響研發合作的頻率?
2.研發合作是否可以提高研發投資、研發產出、與財務績效?
3.不同的研發合作型態如何影響研發合作的決定因素?
4.不同的研發合作型態如何影響研發合作的績效?
5.研發合作與財務績效的關係是否會受到研發投資與研發產出的中介影響?
本研究採用 two-industry, n-firm-per-industry Cournot 競爭模型探討研發合作、研發投資(創新之投入面)、研發產出(創新之產出面—非財務績效)、與財務績效的關係,並以台灣高科技產業為研究對象進行實證分析。對於台灣高科技產業的研發合作與創新活動,研究結果提供學術界與企業界更完整且廣泛的觀點。
實證結果支持公司擁有較高吸收能力的員工是從事研發合作的決定因素之一。另外,知識外溢的提高,亦將促使高科技公司進行研發合作。而在高度吸收能力與知識外溢下,公司採行一般合作之頻率較其他合作模式高。
另外,實證結果也發現研發合作的確鼓勵台灣高科技產業的公司進行更多研發的投資,並且持續創造較高的研發產出與財務績效。相對於其他合作型態,一般合作可以創造較高的研發產出與財務績效,因此為較佳的合作模式。而由於市場競爭的本質,使得水平合作公司之研發投資較垂直合作與一般合作少。最後,僅有研發投資並不足以提升公司的績效與維持競爭優勢,研發合作公司的創新能力與研發產出才是獲利力的決定因素。
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dc.description.abstract (摘要) Innovation is complex, costly, and risky and incurs externalities. R&D cooperation is thus a proper mechanism to encourage firms to innovate. The purposes of this dissertation are to extend the prior theoretical framework and empirical studies to establish a research framework for the R&D cooperation—innovation—financial performance chain. The research questions are as follows:
1.Do absorptive capacity, knowledge spillovers, and uncertainty affect the intensity of R&D cooperation?
2.Does R&D cooperation result in higher R&D investments, R&D outputs, and financial performance?
3.How do different R&D cooperation types influence the determinants of R&D cooperation?
4.How do different R&D cooperation types influence the performance of R&D cooperation?
5.Is the effect of R&D cooperation on financial performance mediated by R&D investments and R&D outputs?
In this dissertation I apply the two-industry, n-firm-per-industry Cournot competition models to theoretically examine the relationship between R&D cooperation, R&D investments (input perspective of innovation), R&D outputs (output perspective of innovation—non-financial performance), and financial performance. I then use Taiwan’s high-technology industry as a research sample and empirically test my research hypotheses. The results provide academia and practitioners with a more comprehensive view of R&D cooperation and innovation activity among Taiwan’s high-technology industries.
The empirical results support the argument that absorptive capacity has a positive impact on the frequency of R&D cooperation in high-technology industry. In addition, an increase in knowledge spillovers also tends to increase intensity to collaborate in R&D. Under high absorptive capacity and knowledge spillover, generalized R&D cooperation is preferred to other cooperative models.
The empirical results also show that R&D cooperation does encourage Taiwan’s high-technology firms to invest more resources in R&D, and leads to higher R&D outputs and financial performance under the characteristic of high knowledge spillovers. Relative to other cooperation types, generalized cooperation leads to higher R&D outputs and financial performance and is a superior cooperative model. Due to the nature of market competition, horizontal cooperative firms are not willing to invest too much in R&D relative to vertical cooperation and generalized cooperation. Finally, simply investing in R&D alone is not enough to achieve breakthrough performance and sustain a competitive advantage. The ability to innovate and generate R&D outputs determines the profitability of the cooperative company.
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dc.description.tableofcontents Acknowledgements IV
致謝 VI
Abstract IX
摘要 XI
Table of contents XIII
List of Figures XV
List of Tables XVI
Chapter 1: Introduction 1
1.1 Research background 1
1.2 Research motivation 2
1.3 Research purposes and research questions 3
1.4 Significance of the research 5
1.5 Research framework 6
Chapter 2: Literature review 9
2.1 The theoretical perspectives of R&D cooperation 9
2.2 The determinants of R&D cooperation 20
2.3 The relationship between R&D cooperation, R&D investments, R&D outputs, and financial performance-theoretical research 28
2.4 The relationship between R&D cooperation, R&D investments, R&D outputs, and financial performance-empirical research 34
2.5 Extension of this study 41
Chapter 3: Theoretical model and hypotheses development 47
3.1 The determinants of R&D cooperation 47
3.2 The impact of R&D cooperation on R&D investments, R&D outputs, and financial performance 51
Chapter 4: Research method 69
4.1 Conceptual framework 69
4.2 Research sample and data collection 71
4.3 Variable measurement 72
4.4 Data analysis methods 81
Chapter 5: Empirical results 83
5.1 Fundamental results 83
5.2 Hypotheses test 88
5.2.1 The determinants of R&D cooperation 88
5.2.2 The impact of R&D cooperation on R&D investments, R&D outputs, and financial performance 94
5.3 Robustness test 109
5.3.1 Sensitivity analysis for R&D investments, R&D outputs, and financial performance 109
5.3.2 Time-lagged effect analysis 114
5.3.3 Industry analysis 125
5.3.4 Other analysis 132
Chapter 6: Conclusions 133
6.1 Conclusions and implications 133
6.2 Research limitations 141
6.3 Future research 142
References 144
Appendix A: Simulation results 158
Appendix B: Proofs of the proposition 170
Appendix C: The definition and classification of high-technology industries 172
Appendix D: Interview summary 174

List of Figures

Figure 1: Research framework of this study 8
Figure 2: Market structure of the theoretical model of this study 51
Figure 3: The three-stage Cournot competition 52
Figure 4: Different types of R&D cooperation 58
Figure 5: Hypothetical research framework of this study — The R&D cooperation — innovation — financial performance chain 70
Figure 6: The path between R&D cooperation intensity, R&D investments, R&D outputs, and financial performance 109
Figure 7: The path between R&D cooperation intensity, R&D investments, R&D outputs, and financial performance 114
Figure 8: The path between R&D cooperation intensity, R&D investments, R&D outputs, and financial performance (One-year lag) 124
Figure 9: The path between R&D cooperation intensity, R&D investments, R&D outputs, and financial performance (Two-year lag) 124
Figure 10: The path between R&D cooperation intensity, R&D investments, R&D outputs, and financial performance (Three-year lag) 125




List of Tables

Table 1: The definitions of R&D cooperation 10
Table 2: The classifications of R&D cooperation 13
Table 3: The benefits of R&D cooperation 15
Table 4: Theoretical perspectives on R&D cooperation 18
Table 5: Literature summary of the determinants of R&D cooperation 24
Table 6: Literature summary of the relationship between R&D cooperation, R&D investments, R&D outputs, and financial performance-theoretical research 30
Table 7: Literature summary of the relationship between R&D cooperation, R&D investments, R&D outputs, and financial performance-empirical research 36
Table 8: Summary of the extension of this study 44
Table 9: Summary of model notation 54
Table 10: Ranking of firms’ R&D investments, R&D outputs, and firm profits 62
Table 11: Variable measurements for this study 79
Table 12: Descriptive statistics 85
Table 13: Descriptive statistics for R&D cooperation and R&D competition 86
Table 14: Correction matrix among dependent variables and independent variables 87
Table 15: The interaction between R&D cooperation types and the determinants of R&D cooperation 92
Table 16: The impact of R&D cooperation intensity on R&D investments, R&D outputs, and financial performance—Heckman two-step model 96
Table 17: The impact of R&D cooperation intensity on R&D investments, R&D outputs, and financial performance—Treatment effects model 99
Table 18: The impact of different R&D cooperation types on R&D investments, R&D outputs, and financial performance 103
Table 19: The path analysis between R&D cooperation intensity, R&D investments, R&D outputs, and financial performance 107
Table 20: The impact of R&D cooperation on R&D intensity, revised R&D outputs, and ROA 111
Table 21: The path analysis between R&D cooperation, R&D investments, revised R&D outputs, and ROA 112
Table 22: The path analysis between R&D cooperation intensity, R&D investments, R&D outputs, and financial performance (One-year lagged model) 118
Table 23: The path analysis between R&D cooperation intensity, R&D investments, R&D outputs, and financial performance (Two-year lagged model) 120
Table 24: The path analysis between R&D cooperation intensity, R&D investments, R&D outputs, and financial performance (Three-year lagged model) 122
Table 25: The descriptive statistics of sub-industries 126
Table 26: R&D investment regression model for sub-industries 129
Table 27: R&D output regression model for sub-industries 130
Table 28: Profit regression model for sub-industries 131
Table 29: Summary of conclusions and implications 136
TableA1: R&D investments with three firms R&D cooperation and R&D competition 158
TableA2: R&D outputs with three firms R&D cooperation and R&D competition 159
TableA4: R&D investments with five firms R&D cooperation and R&D competition 161
TableA5: R&D outputs with five firms R&D cooperation and R&D competition 162
TableA6: Profits with five firms R&D cooperation and R&D competition 163
TableA7: R&D investments with ten firms R&D cooperation and R&D competition 164
TableA8: R&D outputs with ten firms R&D cooperation and R&D competition 165
TableA9: Profits with ten firms R&D cooperation and R&D competition 166
TableA10: R&D investments with twenty firms R&D cooperation and R&D competition 167
TableA11: R&D outputs with twenty firms R&D cooperation and R&D competition 168
TableA12: Profits with twenty firms R&D cooperation and R&D competition 169
Table D1: The fundamental summary of two interviewed companies 175
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dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0893535021en_US
dc.subject (關鍵詞) 研發合作zh_TW
dc.subject (關鍵詞) 創新zh_TW
dc.subject (關鍵詞) 研發投資zh_TW
dc.subject (關鍵詞) 研發產出zh_TW
dc.subject (關鍵詞) 財務績效zh_TW
dc.subject (關鍵詞) 高科技產業zh_TW
dc.subject (關鍵詞) 中介效果zh_TW
dc.subject (關鍵詞) R&D cooperationen_US
dc.subject (關鍵詞) Innovationen_US
dc.subject (關鍵詞) R&D investmentsen_US
dc.subject (關鍵詞) R&D outputsen_US
dc.subject (關鍵詞) Financial performanceen_US
dc.subject (關鍵詞) High-technology industryen_US
dc.subject (關鍵詞) Mediating effect.en_US
dc.title (題名) 研發合作之決定因素與績效:以台灣高科技產業為例zh_TW
dc.title (題名) The Determinants and Performance of R&D cooperation: Evidence from Taiwan’s High-Technology Industriesen_US
dc.type (資料類型) thesisen
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