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題名 台灣國家品質獎對公司財務績效的影響
The influence of Taiwan national quality award for company financial performances
作者 李典運
Lee, Tien Yun
貢獻者 洪叔民
Horng, Shwu Min
李典運
Lee, Tien Yun
關鍵詞 國家品質獎
全面品質管理
股價報酬
營運報酬
ROA
ROS
Taiwan National Quality Award
Total Quality Management
Abnormal Stock Price
Abnormal Operation Price
ROA
ROS
日期 2011
上傳時間 30-Oct-2012 10:39:14 (UTC+8)
摘要 本論文探討有效的全面品質管理（Total quality management, TQM）對公司股價和獲利能力財務績效的影響，透過獲得台灣國家品質獎來當作一個有效成功實施TQM的確認，來進行獲獎公司於得獎前後跟其他公司績效的比較。
本論文將評估得獎公司得獎前後與不同的參照公司和比較公司群做3年的引入TQM計畫和成功完成TQM計畫後4年的財務績效比較。雖然這方面的研究在國外已經有不少探討，在研究統計方法上有不斷的改進，但基於本研究由於樣本數過少的狀況，所以對研究統計方法做特別的選擇與考量。在長期實施TQM計劃的結果當中，得獎公司只有在報名台灣國家品質獎前的實施階段有明顯的正向股價異常報酬和營運異常報酬，而完成TQM落實後的階段並沒有顯著的正向異常報酬，其結果有別於國外對美國國家品獎研究結果，在結論方面也將提出相關可能的原因與探討。
This thesis discussed how the efficient total quality management (TQM) influenced company stock price and operation performance. Taiwan National Quality Award winners were selected representing the companies that implement TQM successfully. Their performance before and after winning the awards were compared with others equivalent companies. The paper tested the company performances for two periods in which the first one is undertaking the TQM program for three years before winning the awards as the implementation period and the second one includes four years after winning the awards as post-implementation period. The performance of award winning companies at two periods were compared with control firms and comparison groups. Although many relevant researches were found and the statistical methods were developed and improved, this study selected few unique methods because of insufficient samples. The results showed that award winning companies have significantly positive performance in stock price and operating index only at the first period, and no significant effects at the second period were found. The results are different from the studies regarding Malcolm Baldridge Award, and probable causes and issues are discussed.
參考文獻 一 中文部分
1. 林公孚（2011），解讀日、美、歐三品質獎之新貌，品質月刊，47-12，19-22。
2. 林公孚（2012），日、美、歐三品質獎之綜合比較，品質月刊，48-2，22-23。
二 英文部分
1. Adams, G., G. McQueen, K. Seawright. 1996. Quality awards and stock prices: A Microanalysis. Working paper, Marriott School of Management, Brigham Young University, Provo, UT.
2. Barber, B. M., J. D. Lyon. 1996. Detecting abnormal operating performance: The empirical power and specification of test statistics. J. Financial Economics. 41(1996), pp. 359-399
3. Barber, B. M., J. D. Lyon. 1997. Detecting long-run abnormal stock returns: The empirical power and specification of test-statistics. J. Financial Economics. 43(1997), pp. 341-372
4. Byrne, J. A. 1997. Management theory-or fad of the month? Business Week. (June 23).
5. Crosby, P. B. 1979. Quality is Free. McGraw-Hill, New York, NY.
6. Samson, D., Terziovski, M. 1999. The relationship between total quality management practices and operational performance. J. Operations Management 17(1999), pp. 393-409
7. Deming, W. E. 1986. Out of the crisis. MIT Center for Advanced Engineering, Cambridge, MA.
8. Easton, G. S., S. L. Jarrell. 1998. The effects of total quality management on corporate performance: An empirical investigation. J. Bus. 71(2)(1998), pp. 253-307
9. Fama, E. F. 1998. Market efficiency, long-term returns, and behavioral finance. J. Financial Economics. 49(1998), pp. 283-306
10. Fuchsberg, G. 1992. Total quality is termed only partial success. Wall Street J. October 1.
11. Garvin, D. A. 1991. How the Baldrige award really works. Harvard Bus. Rev. 69(6)(1991), pp. 80-94
12. Hayes. R. H., G. P. Pisano. 1994. Beyond world-class: The new manufacturing strategy. Harvard Bus. Rev. 72(1)(1994), pp. 77-86
13. Hendricks, K. B., V. R. Singhal. 1996. Quality awards and the market value of the firm: An empirical investigation. Management Sic. 42(3), pp. 415-436
14. Hendricks, K. B., V. R. Singhal. 1997. Does implementing an effective TQM program actually improve operating performance? Empirical evidence from firms that have won quality awards. Management Sci. 43(9), pp. 1258-1274
15. Hendricks, K. B., V. R. Singhal. 2001. The Long-Run Stock Price Performance of Firms with Effective TQM Programs. Management Sci. 47(3)(2001), pp. 359-368
16. Hendricks, K. B., V. R. Singhal., J. K. Stratman. 2007. The impact of enterprise systems on corporate performance: A study of ERP, SCM and CRM system implementations. J. Operations Management 25(2007), pp. 65-82
17. Hockman, K. K. 1992. Does the Baldrige award really work. Harvard Bus. Rev. 70(1)(1992), pp. 137
18. Kothari, S. P., J. B. Warner. 1997. Measuring long-horizon security price performance. J. Financial Economics. 43(1997), pp. 301-339
19. Lyon, J. D., B. M. Barber, and C. Tsai. 1999. Improved Methods for Tests
of Long-run Abnormal Stock Returns. J. Finance 54(1999), pp. 165-201
20. Terziovski et al., 1997. M Terziovski, D.A Samson, D Dow. The business value of quality management systems certification: Evidence from Australia and New Zealand. J. Operations Management, 15(1997), pp. 1-18
21. Porter, M. E. 1996. What is strategy? Harvard Bus, Rev. 74(6)(1996), pp. 61-78
22. The Economist. 1995. The straining of Quality. (January 14).
三 網站部分
1. 台灣國家品質獎網站（http://proj3.moeaidb.gov.tw/nqa/main.htm），登錄時間： 04/2012。
2. 台灣證券交易所網站（http://www.twse.com.tw/ch/index.php），登錄時間： 04/2012。
3. 全面品質管理發展中心有限公司網站（http://www.tqc.com.hk/big5/consulting/tqm.htm），登入時間：04/2012。
4. 維基百科http://zh.wikipedia.org/wiki/5S，登入時間：05/2012
5. MBA智庫百科http://wiki.mbalib.com/zh-tw/%E5%93%81%E7%AE%A1%E5%9C%88，登入時間：05/2012
描述 碩士
國立政治大學
企業管理研究所
99355051
100
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0099355051
資料類型 thesis
dc.contributor.advisor 洪叔民zh_TW
dc.contributor.advisor Horng, Shwu Minen_US
dc.contributor.author (Authors) 李典運zh_TW
dc.contributor.author (Authors) Lee, Tien Yunen_US
dc.creator (作者) 李典運zh_TW
dc.creator (作者) Lee, Tien Yunen_US
dc.date (日期) 2011en_US
dc.date.accessioned 30-Oct-2012 10:39:14 (UTC+8)-
dc.date.available 30-Oct-2012 10:39:14 (UTC+8)-
dc.date.issued (上傳時間) 30-Oct-2012 10:39:14 (UTC+8)-
dc.identifier (Other Identifiers) G0099355051en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/54289-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 企業管理研究所zh_TW
dc.description (描述) 99355051zh_TW
dc.description (描述) 100zh_TW
dc.description.abstract (摘要) 本論文探討有效的全面品質管理（Total quality management, TQM）對公司股價和獲利能力財務績效的影響，透過獲得台灣國家品質獎來當作一個有效成功實施TQM的確認，來進行獲獎公司於得獎前後跟其他公司績效的比較。
本論文將評估得獎公司得獎前後與不同的參照公司和比較公司群做3年的引入TQM計畫和成功完成TQM計畫後4年的財務績效比較。雖然這方面的研究在國外已經有不少探討，在研究統計方法上有不斷的改進，但基於本研究由於樣本數過少的狀況，所以對研究統計方法做特別的選擇與考量。在長期實施TQM計劃的結果當中，得獎公司只有在報名台灣國家品質獎前的實施階段有明顯的正向股價異常報酬和營運異常報酬，而完成TQM落實後的階段並沒有顯著的正向異常報酬，其結果有別於國外對美國國家品獎研究結果，在結論方面也將提出相關可能的原因與探討。		zh_TW
dc.description.abstract (摘要) This thesis discussed how the efficient total quality management (TQM) influenced company stock price and operation performance. Taiwan National Quality Award winners were selected representing the companies that implement TQM successfully. Their performance before and after winning the awards were compared with others equivalent companies. The paper tested the company performances for two periods in which the first one is undertaking the TQM program for three years before winning the awards as the implementation period and the second one includes four years after winning the awards as post-implementation period. The performance of award winning companies at two periods were compared with control firms and comparison groups. Although many relevant researches were found and the statistical methods were developed and improved, this study selected few unique methods because of insufficient samples. The results showed that award winning companies have significantly positive performance in stock price and operating index only at the first period, and no significant effects at the second period were found. The results are different from the studies regarding Malcolm Baldridge Award, and probable causes and issues are discussed.en_US
dc.description.tableofcontents 圖目錄 2
表目錄 3
摘要 4
Abstract 5
第壹章 緒論 6
1-1 研究動機 6
1-2 研究目的 6
1-3 研究限制與研究樣本 7
第貳章 文獻回顧 11
2-1 台灣與各國國家品質獎比較和全面品質管理 11
2-2 相關研究與探討 15
第參章 樣本、資料與研究方法 19
3-1 樣本和資料的來源與選擇 19
3-2 建立分析的績效期間 20
3-3 研究方法 22
3-3-1 評估長期股價的研究方法 22
3-3-2 評估長期營運績效的研究方法 31
第肆章 研究結果 35
4-1 長期投資於TQM的股價異常報酬結果 35
4-2 長期投資於TQM的營運異常報酬結果 39
4-3 參照公司與比較公司群是否有參考性 43
第伍章 結論與建議 44
5-1 研究結論 44
5-2 其他可能議題的探討 45
5-3 總結 46
附錄 47
參考文獻 51
一 中文部分 51
二 英文部分 51
三 網站部分 52		zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0099355051en_US
dc.subject (關鍵詞) 國家品質獎zh_TW
dc.subject (關鍵詞) 全面品質管理zh_TW
dc.subject (關鍵詞) 股價報酬zh_TW
dc.subject (關鍵詞) 營運報酬zh_TW
dc.subject (關鍵詞) ROAzh_TW
dc.subject (關鍵詞) ROSzh_TW
dc.subject (關鍵詞) Taiwan National Quality Awarden_US
dc.subject (關鍵詞) Total Quality Managementen_US
dc.subject (關鍵詞) Abnormal Stock Priceen_US
dc.subject (關鍵詞) Abnormal Operation Priceen_US
dc.subject (關鍵詞) ROAen_US
dc.subject (關鍵詞) ROSen_US
dc.title (題名) 台灣國家品質獎對公司財務績效的影響zh_TW
dc.title (題名) The influence of Taiwan national quality award for company financial performancesen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 一 中文部分
1. 林公孚（2011），解讀日、美、歐三品質獎之新貌，品質月刊，47-12，19-22。
2. 林公孚（2012），日、美、歐三品質獎之綜合比較，品質月刊，48-2，22-23。
二 英文部分
1. Adams, G., G. McQueen, K. Seawright. 1996. Quality awards and stock prices: A Microanalysis. Working paper, Marriott School of Management, Brigham Young University, Provo, UT.
2. Barber, B. M., J. D. Lyon. 1996. Detecting abnormal operating performance: The empirical power and specification of test statistics. J. Financial Economics. 41(1996), pp. 359-399
3. Barber, B. M., J. D. Lyon. 1997. Detecting long-run abnormal stock returns: The empirical power and specification of test-statistics. J. Financial Economics. 43(1997), pp. 341-372
4. Byrne, J. A. 1997. Management theory-or fad of the month? Business Week. (June 23).
5. Crosby, P. B. 1979. Quality is Free. McGraw-Hill, New York, NY.
6. Samson, D., Terziovski, M. 1999. The relationship between total quality management practices and operational performance. J. Operations Management 17(1999), pp. 393-409
7. Deming, W. E. 1986. Out of the crisis. MIT Center for Advanced Engineering, Cambridge, MA.
8. Easton, G. S., S. L. Jarrell. 1998. The effects of total quality management on corporate performance: An empirical investigation. J. Bus. 71(2)(1998), pp. 253-307
9. Fama, E. F. 1998. Market efficiency, long-term returns, and behavioral finance. J. Financial Economics. 49(1998), pp. 283-306
10. Fuchsberg, G. 1992. Total quality is termed only partial success. Wall Street J. October 1.
11. Garvin, D. A. 1991. How the Baldrige award really works. Harvard Bus. Rev. 69(6)(1991), pp. 80-94
12. Hayes. R. H., G. P. Pisano. 1994. Beyond world-class: The new manufacturing strategy. Harvard Bus. Rev. 72(1)(1994), pp. 77-86
13. Hendricks, K. B., V. R. Singhal. 1996. Quality awards and the market value of the firm: An empirical investigation. Management Sic. 42(3), pp. 415-436
14. Hendricks, K. B., V. R. Singhal. 1997. Does implementing an effective TQM program actually improve operating performance? Empirical evidence from firms that have won quality awards. Management Sci. 43(9), pp. 1258-1274
15. Hendricks, K. B., V. R. Singhal. 2001. The Long-Run Stock Price Performance of Firms with Effective TQM Programs. Management Sci. 47(3)(2001), pp. 359-368
16. Hendricks, K. B., V. R. Singhal., J. K. Stratman. 2007. The impact of enterprise systems on corporate performance: A study of ERP, SCM and CRM system implementations. J. Operations Management 25(2007), pp. 65-82
17. Hockman, K. K. 1992. Does the Baldrige award really work. Harvard Bus. Rev. 70(1)(1992), pp. 137
18. Kothari, S. P., J. B. Warner. 1997. Measuring long-horizon security price performance. J. Financial Economics. 43(1997), pp. 301-339
19. Lyon, J. D., B. M. Barber, and C. Tsai. 1999. Improved Methods for Tests
of Long-run Abnormal Stock Returns. J. Finance 54(1999), pp. 165-201
20. Terziovski et al., 1997. M Terziovski, D.A Samson, D Dow. The business value of quality management systems certification: Evidence from Australia and New Zealand. J. Operations Management, 15(1997), pp. 1-18
21. Porter, M. E. 1996. What is strategy? Harvard Bus, Rev. 74(6)(1996), pp. 61-78
22. The Economist. 1995. The straining of Quality. (January 14).
三 網站部分
1. 台灣國家品質獎網站（http://proj3.moeaidb.gov.tw/nqa/main.htm），登錄時間： 04/2012。
2. 台灣證券交易所網站（http://www.twse.com.tw/ch/index.php），登錄時間： 04/2012。
3. 全面品質管理發展中心有限公司網站（http://www.tqc.com.hk/big5/consulting/tqm.htm），登入時間：04/2012。
4. 維基百科http://zh.wikipedia.org/wiki/5S，登入時間：05/2012
5. MBA智庫百科http://wiki.mbalib.com/zh-tw/%E5%93%81%E7%AE%A1%E5%9C%88，登入時間：05/2012		zh_TW