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題名 家族企業與創新活動
Family Firms and Innovation Activities
作者 陳之胤
貢獻者 詹凌菁
陳之胤
關鍵詞 創新
家族企業
公司治理
Innovation
Family firm
Corporate governance
日期 2013
上傳時間 1-Jul-2014 12:04:54 (UTC+8)
摘要 創新是決定企業競爭優勢的重要因素。本研究探討台灣電子業中家族企業與創新之關聯性,以及分析高階經理人人事異動又會如何影響家族企業與創新之關係。本研究以專利權數及研發密集度分別作為衡量創新之變數,實證結果發現家族企業特殊的所有權與管理結構對於創新會有負向之影響,但若近期內有高階經理人人事異動會降低家族企業對創新活動之負向影響
參考文獻 一、 中文部分
周行一、陳錦村與陳坤宏,1996,家族企業、聯屬持股與公司價值之研究,中國         
財務學刊,第4卷第1期(7月):115-139。

金成隆、蘇淑慧與呂倩如,2009,家族公司與盈餘品質關係之研究:所有權、管理權與控制權,臺大管理論叢,第19卷第S2期(9月):35-70。

林嬋娟與張嘉哲,2009,董監事異常變動、家族企業與企業舞弊之關聯性,會
計評論,第48期(1月): 1-33。

范揚松,1987,家族企業的病理分析,現代管理月刊,第126期:16-38。

范揚富,1986,家族企業的繼承問題-國內家族企業繼承人的培育,國立台灣科
技大學工程技術研究所博士論文。

黃政仁與詹佳樺,2013,創新能力、創新效率與公司價值:以台灣電子資訊業
為例,商略戰報,第五卷,第1期: 1-17。

葉銀華,1999,家族控股集團、核心企業與報酬互動之研究--台灣與香港證
券市場之比較,管理評論,第18卷第2期(5月):59-86。

嚴奇峰,1994,台灣傳統家族企業極端共存組織現象之探討-系統隱態觀點,管
理評論,第13期(1月):1-22。

二、英文部分
Afuah, A. 1998. Innovation management: strategies, implementation, and profits,
Oxford University Press, Inc.

Ali, A., T. Y. Chen, and S. Radhakrishnan. 2007. Corporate disclosures by family firms. Journal of Accounting and Economics 44 (1-2): 238-286.

Anderson, R.C., and D.M. Reeb. 2003. Founding-Family Ownership and Firm
Performance: Evidence from the S&P 500. The Journal of Finance, 58: 1301-1327.

Anderson, R.C., A. Duru, and D. Reeb. 2010. Family Preferences and Investment
Policy: Evidence from R&D Spending and Capital Expenditures. Working Paper, American University.

Arundel, A. and J. Kabla. 1998. “What percentage of innovations are patented?
Experimental estimates in European firms, Research Policy 27: 127–142.

Astrachan, J. H. 2003. Commentary on the special issue: The emergence of a
field. Journal of Business Venturing 18(5): 567-573.

Astrachan, J. H., Zahra, S. A., and Sharma, P. 2003. Family-sponsored ventures.
Kansas, MO: Kauffman Foundation.

Baber, W.R., P.M. Fairfield, and J.A. Haggard. 1991. The Effect of Concern about
Reported Income on Discretionary Spending Decision: The Case of Research and Development. The Accounting Review 66: 818-829.

Barney, J., 1991. Firm Resources and Sustained Competitive Advantages, Journal of
Management 17(1): 99-120.

Berle A. A. and G. C. Means, 1932, The Modern Corporation and Private Property.
New York: Macmillan

Bosworth, D. and M. Rogers. 2001. Market value, R&D and intellectual property: An
empirical analysis of large Australian firms. The Economics Record

Bozec, Y., and C. Laurin. 2008. Large Shareholder Entrenchment and Performance:
Empirical Evidence from Canada. Journal of Business Finance and Accounting 35: 25-49.

Bushee, B. 1998. The Influence of Institutional Investors on Myopic R&D Investment
Behavior. The Accounting Review 73: 305-333.

Chaganti, R. and R. Sambharya. 1987. Strategic Orientation and Characteristics of
Upper Management. Strategic Management Journal 8(4): 393- 401.

Chan, L. K. C., J. Lakonishok, and T. Sougiannis. 2001. The Stock Market Valuation
of Research and Development Expenditures. Journal of Finance 56: 2431-2456.

Chambers, D., R. Jennings, and R. B. Tompson II. 2002. Excess Returns to R&D-
Intensive Firms. Review of Accounting Studies 7: 133-158.

Chen, T.Y. 2006. CEO Compensation Contracts of Family Firms. Working Paper.
The University of Texas at Dallas.

Claessens, S., S. Djankov, and L. H. P. Lang. 2000. The separation of ownership and
control in East Asian Corporations. Journal of Financial Economics 58 (1-2): 81-112

Connolly, R. A., and M. Hirschey. 1988. Market Value and Patents: A Bayesian
Approach. Economics Letters 27: 83-87.

Davis, P. 1983. Realizing the potential of the family business. Organizational
Dynamics. 12(summer): 47-56.

Dechow, P.M., and R.G. Sloan. 1991. Executive Incentives and the Horizon Problem:
An Empirical Investigation. Journal of Accounting and Economics 14: 51-89.

Drucker, P. F. 1998. The Discipline of Innovation. Harvard Business Review, 98604.

Frambach, R. T. and N. Schillewaert. 2002. “Organizational Innovation Adoption: A
Multi-level Framework of Determinants and Opportunities for Future Research,”
Journal of Business Research 55(2): 163-176.

Freeman, C. and L. Soet. 1977. The economic of industrial innovation, 3rd. ed,
London: Francis Pinter.

Griliches, Z., 1990. Patent statistics as economic indicators: a survey. Journal of
Economic Literature 28: 1661–1707.

Gu, F. 2005. Innovation, Future Earnings, and Market Efficiency. Journal of
Accounting, Auditing and Finance 20: 385-418

Hall, B.H., Ziedonis, R.M., 2001. The patent paradox revisited: an empirical study of
patenting in the US semiconductor industry, 1979–1995. RAND Journal of Economics 32: 101–128.

Hall, R. et al. 1999. “Market value and patent citations: A first Look”, paper
presented at a National Bureau of Economics Research meeting

Hall, B. H., A. B. Jaffe, and M. Trajtenberg. 2001. The NBER Patent Citations Data
File: Lessons, Insights and Methodological Tools. Working Paper, NBER.

Hall, B.H., Jaffe, A., Trajtenberg, M., 2005. Market value and patent citations. RAND
Journal of Economics 36: 16–38.

Handler, W. C. 1989. Methodological issues and considerations in study family business. Family Business Review 2(3): 257-276.

Hirschey, M., V. J. Richardson, and S. Scholz. 2001. Value Relevance of
Nonfinancial Information: The Case of Patent Data. Review of Quantitative Finance and Accounting 17: 223-235.

Hirshleifer, D., P. H. Hsu, and D. Li. 2013. Innovative Efficiency and Stock Returns.
Journal of Financial Economics 107: 632-654

Holmstrom, B. 1989. Agency Costs and Innovation. Journal of Economic Behavior
and Organization 12(3): 305-327.

Jensen, M. C. and W. H. Meckling. 1976. Theory of the firm: Managerial behavior,
agency costs, and ownership structure. Journal of financial Economic 3: 305-360.

Jensen, M. C., and R. S. Ruback. 1983. The market for corporate control: The scientific evidence. Journal of Financial Economics 11(1): 5-50.

Kesner, I. F., Shapiro, D. L., and Sharma, A. (1994). Brokering mergers: An agency
theory perspective on the role of representatives. Academy of Management Journal 37(3): 703-721.

Kothari, S.P., T.E. Laguerre, and A.J. Leone. 2002. Capitalizing versus Expensing:
Evidence on the Uncertainty of Future Earnings from Capital Expenditures versus R&D Outlays. Review of Accounting Studies 7: 355-382.

La Porta, R., Lopez-de-Silanes, F., and Shleifer, A. 1999. Corporate ownership
around the world. Journal of Finance 54: 471-571.

Lanjouw, J. O., and M. Schankerman. 2004. Patent Quality and Research
Productivity: Measuring Innovation with Multiple Indicators. The Economic Journal 114(495): 441-465

Lee, P., and H. O’Neill. 2003. Ownership Structure and R&D Investments of U.S. and
Japanese Firms: Agency and Stewardship Perspectives. Academy of Management Journal 46: 212-225.

Leuz, C., D. Nanda, and P.D. Wysocki. 2003. Earnings Management and Investor
Protection: An International Comparison. Journal of Financial Economics 69: 505-527.

Lev, B., and T. Sougiannis. 1996. The Capitalization, Amortization and Value-
Relevance of R&D. Journal of Accounting and Economics 21: 107-138.

Li, D. 2010. Financial Constraints, R&D Investments, and Stock Returns. Working
Paper, University of California at San Diego.

McConaughy, D. L., M. C. Walker, G. V. Henderson Jr., and C. S. Mishra. 1998. Founding family controlled firms: Efficiency and value. Review of Financial Economics 7(1): 1-19.

Mansfield, E. 1986. “Patents and innovation: an empirical study,” Management
Science 32: 173–181.

Matolcsy, Z. P., and A. Wyatt. 2008. The Association between Technological
Conditions and the Market Value of Equity. The Accounting Review 83:
479-518.

Miller, D. 1993. The architecture of simplicity. Academy of Management Review
18(1): 116–139.

Miller, D., & Le Breton-Miller, I. (2006). Family governance and firm performance: Agency,
stewardship, and capabilities. Family Business Review 19(1): 73-87.

Morck, R. K., A. Shleifer, and R. W. Vishny. 1988. Management ownership and market valuation: An empirical analysis. Journal of Financial Economics 20 (1-2): 293-315.

Nelson, R. and S. Winter 1982. An Evolutionary Theory of Economic Change.
Harvard University Press, Cambridge, MA.

Pandit, S., C. E. Wasley, and T. Zach. 2011. The Effect of R&D Inputs and Outputs
on the Relation between the Uncertainty of Future Operating Performance and R&D Expenditures. Journal of Accounting, Auditing and Finance 26: 121-144.

Porter, Michael E. 1990. The Competitiveness of Global Industries, The Free Press
(Macmillan), New York.

Roberts, E. B. 1995. Benchmarking the Strategic Management of Technology.
Research Technology Management 2: 44-56.

Romer, P.M. 1986. Increasing returns and long-run growth. Journal of Political
Economy 94(5): 1002–1038.

Rosenblatt, P. C., L. deMik., R. M. Anderson, and P. A. Johnson. 1985. The Family in Business: Understanding and Dealing with the Challenges Entrepreneurial Face.

Schumpeter, J.A. 1912. Theorie der wirtschaftlichen entwichlung, Leipzig, Dunker
und Humbolt. Translation by R. Opie (1934), The theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle. Cambridge: Harvard University Press.

Schumpeter, J. A. 1934. The theory of economic development. Boston, MA:Harvard.


Shane, H., and M. Klock. 1997. Therelation between patent citations and Tobin’s Q in
the semiconductor industry. Review of Quantitative Finance and Accounting
9:131-146.

Shleifer, A. and R. W. Vishny. 1986. Large shareholders and corporate control. Journal of Political Economy 94 (3): 461-488.

Shleifer, A. and R. W. Vishny. 1997. A survey of corporate governance. Journal of
Finance 52 (2): 737-783.

S. M. Tsao, Y. S. Chen, and G. Z. Chen. 2013. Founding family ownership and
innovation. Asia-Pacific Journal of Accounting and Economics 20(4): 249-456

Trajtenberg, M.1990. A Penny for your quotes: Patent citations and the value of
innovations. Rand Journal of Economics 21(1): 172-187.

Villalonga, B., and R. Amit. 2006. How do family ownership, management, and control affect firm value? Journal of Financial Economics 80(2): 385-417.

Yeh, Y. H., T. S. Lee, and T. Woidtke. 2001. Family control and corporate
governance: Evidence from Taiwan. International Review of Finance 2 (1-2): 21-48

Zahra, S. 2005. Entrepreneurial risk taking in family firms. Family Business
Review 18(1): 23-40.
描述 碩士
國立政治大學
會計研究所
101353001
102
資料來源 http://thesis.lib.nccu.edu.tw/record/#G1013530011
資料類型 thesis
dc.contributor.advisor 詹凌菁zh_TW
dc.contributor.author (Authors) 陳之胤zh_TW
dc.creator (作者) 陳之胤zh_TW
dc.date (日期) 2013en_US
dc.date.accessioned 1-Jul-2014 12:04:54 (UTC+8)-
dc.date.available 1-Jul-2014 12:04:54 (UTC+8)-
dc.date.issued (上傳時間) 1-Jul-2014 12:04:54 (UTC+8)-
dc.identifier (Other Identifiers) G1013530011en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/67084-
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) 101353001zh_TW
dc.description (描述) 102zh_TW
dc.description.abstract (摘要) 創新是決定企業競爭優勢的重要因素。本研究探討台灣電子業中家族企業與創新之關聯性,以及分析高階經理人人事異動又會如何影響家族企業與創新之關係。本研究以專利權數及研發密集度分別作為衡量創新之變數,實證結果發現家族企業特殊的所有權與管理結構對於創新會有負向之影響,但若近期內有高階經理人人事異動會降低家族企業對創新活動之負向影響zh_TW
dc.description.tableofcontents 第一章 緒論 1
第一節 研究動機與目的 1
第二節 研究結構與流程 4
第二章 文獻探討 6
第一節 創新 6
第二節 家族企業 10
第三節 家族企業與創新的關聯性研究 16
第三章 研究方法 18
第一節 研究假說 18
第二節 樣本選取與資料來源 20
第三節 研究變數之設計 21
第四節 實證模型與研究方法 26
第四章 實證結果與分析 29
第一節 敘述性統計分析 29
第二節 相關係數分析 38
第三節 迴歸結果與分析 42
第四節 額外測試 51
第五章 研究結論與建議 58
第一節 研究結論 58
第二節 研究建議 59
參考文獻 61
zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G1013530011en_US
dc.subject (關鍵詞) 創新zh_TW
dc.subject (關鍵詞) 家族企業zh_TW
dc.subject (關鍵詞) 公司治理zh_TW
dc.subject (關鍵詞) Innovationen_US
dc.subject (關鍵詞) Family firmen_US
dc.subject (關鍵詞) Corporate governanceen_US
dc.title (題名) 家族企業與創新活動zh_TW
dc.title (題名) Family Firms and Innovation Activitiesen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 一、 中文部分
周行一、陳錦村與陳坤宏,1996,家族企業、聯屬持股與公司價值之研究,中國         
財務學刊,第4卷第1期(7月):115-139。

金成隆、蘇淑慧與呂倩如,2009,家族公司與盈餘品質關係之研究:所有權、管理權與控制權,臺大管理論叢,第19卷第S2期(9月):35-70。

林嬋娟與張嘉哲,2009,董監事異常變動、家族企業與企業舞弊之關聯性,會
計評論,第48期(1月): 1-33。

范揚松,1987,家族企業的病理分析,現代管理月刊,第126期:16-38。

范揚富,1986,家族企業的繼承問題-國內家族企業繼承人的培育,國立台灣科
技大學工程技術研究所博士論文。

黃政仁與詹佳樺,2013,創新能力、創新效率與公司價值:以台灣電子資訊業
為例,商略戰報,第五卷,第1期: 1-17。

葉銀華,1999,家族控股集團、核心企業與報酬互動之研究--台灣與香港證
券市場之比較,管理評論,第18卷第2期(5月):59-86。

嚴奇峰,1994,台灣傳統家族企業極端共存組織現象之探討-系統隱態觀點,管
理評論,第13期(1月):1-22。

二、英文部分
Afuah, A. 1998. Innovation management: strategies, implementation, and profits,
Oxford University Press, Inc.

Ali, A., T. Y. Chen, and S. Radhakrishnan. 2007. Corporate disclosures by family firms. Journal of Accounting and Economics 44 (1-2): 238-286.

Anderson, R.C., and D.M. Reeb. 2003. Founding-Family Ownership and Firm
Performance: Evidence from the S&P 500. The Journal of Finance, 58: 1301-1327.

Anderson, R.C., A. Duru, and D. Reeb. 2010. Family Preferences and Investment
Policy: Evidence from R&D Spending and Capital Expenditures. Working Paper, American University.

Arundel, A. and J. Kabla. 1998. “What percentage of innovations are patented?
Experimental estimates in European firms, Research Policy 27: 127–142.

Astrachan, J. H. 2003. Commentary on the special issue: The emergence of a
field. Journal of Business Venturing 18(5): 567-573.

Astrachan, J. H., Zahra, S. A., and Sharma, P. 2003. Family-sponsored ventures.
Kansas, MO: Kauffman Foundation.

Baber, W.R., P.M. Fairfield, and J.A. Haggard. 1991. The Effect of Concern about
Reported Income on Discretionary Spending Decision: The Case of Research and Development. The Accounting Review 66: 818-829.

Barney, J., 1991. Firm Resources and Sustained Competitive Advantages, Journal of
Management 17(1): 99-120.

Berle A. A. and G. C. Means, 1932, The Modern Corporation and Private Property.
New York: Macmillan

Bosworth, D. and M. Rogers. 2001. Market value, R&D and intellectual property: An
empirical analysis of large Australian firms. The Economics Record

Bozec, Y., and C. Laurin. 2008. Large Shareholder Entrenchment and Performance:
Empirical Evidence from Canada. Journal of Business Finance and Accounting 35: 25-49.

Bushee, B. 1998. The Influence of Institutional Investors on Myopic R&D Investment
Behavior. The Accounting Review 73: 305-333.

Chaganti, R. and R. Sambharya. 1987. Strategic Orientation and Characteristics of
Upper Management. Strategic Management Journal 8(4): 393- 401.

Chan, L. K. C., J. Lakonishok, and T. Sougiannis. 2001. The Stock Market Valuation
of Research and Development Expenditures. Journal of Finance 56: 2431-2456.

Chambers, D., R. Jennings, and R. B. Tompson II. 2002. Excess Returns to R&D-
Intensive Firms. Review of Accounting Studies 7: 133-158.

Chen, T.Y. 2006. CEO Compensation Contracts of Family Firms. Working Paper.
The University of Texas at Dallas.

Claessens, S., S. Djankov, and L. H. P. Lang. 2000. The separation of ownership and
control in East Asian Corporations. Journal of Financial Economics 58 (1-2): 81-112

Connolly, R. A., and M. Hirschey. 1988. Market Value and Patents: A Bayesian
Approach. Economics Letters 27: 83-87.

Davis, P. 1983. Realizing the potential of the family business. Organizational
Dynamics. 12(summer): 47-56.

Dechow, P.M., and R.G. Sloan. 1991. Executive Incentives and the Horizon Problem:
An Empirical Investigation. Journal of Accounting and Economics 14: 51-89.

Drucker, P. F. 1998. The Discipline of Innovation. Harvard Business Review, 98604.

Frambach, R. T. and N. Schillewaert. 2002. “Organizational Innovation Adoption: A
Multi-level Framework of Determinants and Opportunities for Future Research,”
Journal of Business Research 55(2): 163-176.

Freeman, C. and L. Soet. 1977. The economic of industrial innovation, 3rd. ed,
London: Francis Pinter.

Griliches, Z., 1990. Patent statistics as economic indicators: a survey. Journal of
Economic Literature 28: 1661–1707.

Gu, F. 2005. Innovation, Future Earnings, and Market Efficiency. Journal of
Accounting, Auditing and Finance 20: 385-418

Hall, B.H., Ziedonis, R.M., 2001. The patent paradox revisited: an empirical study of
patenting in the US semiconductor industry, 1979–1995. RAND Journal of Economics 32: 101–128.

Hall, R. et al. 1999. “Market value and patent citations: A first Look”, paper
presented at a National Bureau of Economics Research meeting

Hall, B. H., A. B. Jaffe, and M. Trajtenberg. 2001. The NBER Patent Citations Data
File: Lessons, Insights and Methodological Tools. Working Paper, NBER.

Hall, B.H., Jaffe, A., Trajtenberg, M., 2005. Market value and patent citations. RAND
Journal of Economics 36: 16–38.

Handler, W. C. 1989. Methodological issues and considerations in study family business. Family Business Review 2(3): 257-276.

Hirschey, M., V. J. Richardson, and S. Scholz. 2001. Value Relevance of
Nonfinancial Information: The Case of Patent Data. Review of Quantitative Finance and Accounting 17: 223-235.

Hirshleifer, D., P. H. Hsu, and D. Li. 2013. Innovative Efficiency and Stock Returns.
Journal of Financial Economics 107: 632-654

Holmstrom, B. 1989. Agency Costs and Innovation. Journal of Economic Behavior
and Organization 12(3): 305-327.

Jensen, M. C. and W. H. Meckling. 1976. Theory of the firm: Managerial behavior,
agency costs, and ownership structure. Journal of financial Economic 3: 305-360.

Jensen, M. C., and R. S. Ruback. 1983. The market for corporate control: The scientific evidence. Journal of Financial Economics 11(1): 5-50.

Kesner, I. F., Shapiro, D. L., and Sharma, A. (1994). Brokering mergers: An agency
theory perspective on the role of representatives. Academy of Management Journal 37(3): 703-721.

Kothari, S.P., T.E. Laguerre, and A.J. Leone. 2002. Capitalizing versus Expensing:
Evidence on the Uncertainty of Future Earnings from Capital Expenditures versus R&D Outlays. Review of Accounting Studies 7: 355-382.

La Porta, R., Lopez-de-Silanes, F., and Shleifer, A. 1999. Corporate ownership
around the world. Journal of Finance 54: 471-571.

Lanjouw, J. O., and M. Schankerman. 2004. Patent Quality and Research
Productivity: Measuring Innovation with Multiple Indicators. The Economic Journal 114(495): 441-465

Lee, P., and H. O’Neill. 2003. Ownership Structure and R&D Investments of U.S. and
Japanese Firms: Agency and Stewardship Perspectives. Academy of Management Journal 46: 212-225.

Leuz, C., D. Nanda, and P.D. Wysocki. 2003. Earnings Management and Investor
Protection: An International Comparison. Journal of Financial Economics 69: 505-527.

Lev, B., and T. Sougiannis. 1996. The Capitalization, Amortization and Value-
Relevance of R&D. Journal of Accounting and Economics 21: 107-138.

Li, D. 2010. Financial Constraints, R&D Investments, and Stock Returns. Working
Paper, University of California at San Diego.

McConaughy, D. L., M. C. Walker, G. V. Henderson Jr., and C. S. Mishra. 1998. Founding family controlled firms: Efficiency and value. Review of Financial Economics 7(1): 1-19.

Mansfield, E. 1986. “Patents and innovation: an empirical study,” Management
Science 32: 173–181.

Matolcsy, Z. P., and A. Wyatt. 2008. The Association between Technological
Conditions and the Market Value of Equity. The Accounting Review 83:
479-518.

Miller, D. 1993. The architecture of simplicity. Academy of Management Review
18(1): 116–139.

Miller, D., & Le Breton-Miller, I. (2006). Family governance and firm performance: Agency,
stewardship, and capabilities. Family Business Review 19(1): 73-87.

Morck, R. K., A. Shleifer, and R. W. Vishny. 1988. Management ownership and market valuation: An empirical analysis. Journal of Financial Economics 20 (1-2): 293-315.

Nelson, R. and S. Winter 1982. An Evolutionary Theory of Economic Change.
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