臺灣博碩士論文加值系統

無形知識已成為企業經營最重要的生產要素。然而無形資產的範圍廣大，包含了公開的無形資產資訊（如：專利權）以及未公開的營業秘密，以往的文獻已有許多關於公開無形資產資訊之相關研究，甚少有關於營業秘密之研究，且有愈來愈多的研究顯示公開的專利權資訊與企業績效的關係已大為降低，但R&D與企業績效仍有很顯著關聯性(Lev, 2001)，因此本研究欲探討營業秘密是否會影響企業經營？因此本研究之目的為探討營業秘密與內部人交易及企業公司治理間的關係。
由於未公開資訊難以直接衡量，故本研究參考Marshall（1890）所提出「序列效用」的概念，嘗試將營業祕密依強度大小排序，排序愈小，營業秘密強度愈低；反之，排序愈大，營業秘密強度愈高；並以複迴歸模型探討營業秘密強度與各變數間之關係；本研究以2002至2006年的台灣上市電子業為研究對象，在刪除各財務資料有遺漏的樣本之後，樣本數為199家。
研究結果顯示營業秘密與企業經營績效變數間呈現顯著正相關，表示營業秘密的確可以提高企業經營績效；且營業秘密強度愈高將會增加內部人交易情形；營業秘密與董監事持股比例，以及其與經理人持股比例等公司治理變數間呈顯著正相關；與最終控制者佔董監席次比例呈顯著負相關，表示企業的公司治理制度將會影響企業投入創新活動所產生之營業秘密。

T he invisible knowledge has become the most important element of production to the enterprise management nowadays. The intangible assets scope are general, including the public intangible asset information (ex: Patent) and private trade secret. The former literature had many relative researches about the public intangible asset information, but really unusually research about trade secret. However, more and more research found public patent information had less relationship with the firm operating performance, but it still had high relationship with the firm operating performance (Lev, 2001), so we want to examine can trade secret also affect the enterprise to manage? Therefore, the goal of this research is explore the relationship of trade secret, insider trading and corporate governance.
Because the private information is so hard to directly measure, this research refers the concept of Marshall (1890) "ordinal utility", trying to quantify and rank the trade secret depends on its strength, the arrangement slightly, the trade secret strength will be lower, otherwise, the arrangement is bigger, the trade secret strength will be higher. We discuss the relationship between the trade secret strength and during various variables by regression model. This research was sampled from the Taiwan public electronics industry taking year 2002 to 2006, after deleting the samples had missing financial data, finally, the sample numbers are 199.
The findings shows significant positive relationship between trade secret and the enterprise operating performance variables, indicated trade secret indeed can enhance the enterprise operating performance. And the higher trade secret strength will increase the insider trading situation. It shows significant positive relationship between trade secret and the corporate governance variables, expressed the more concentrative shareholder structure will increase the trade secret produce from the enterprise invests to innovation activities.

目錄 ………………………………………………………………I
圖、表目錄…………………………………………………………II
第壹章 緒論………………………………………………………1
1.1 研究背景與動機………………………………………………1
1.2 研究目的………………………………………………………5
1.3 研究架構………………………………………………………6
1.4 研究流程………………………………………………………7
第貳章 文獻探討…………………………………………………8
2.1 營業秘密………………………………………………………8
2.2 無形資產與資訊不對稱…………………………………… 11
2.3 公司治理與股權結構……………………………………… 13
2.4 內部人交易………………………………………………… 20
2.5 相關文獻…………………………………………………… 21
第參章 研究設計與研究方法………………………………… 25
3.1 研究範圍與資料來源……………………………………… 25
3.2 研究假說…………………………………………………… 26
3.3 變數與模型………………………………………………… 29
第肆章 實證結果分析………………………………………… 37
4.1敘述性統計量分析……………………………………………37
4.2相關係數分析…………………………………………………40
4.3 實證結果分析……………………………………………… 43
第伍章 結論與建議…………………………………………… 53
5.1 研究結論…………………………………………………… 53
5.2 研究限制及建議…………………………………………… 54
參考文獻………………………………………………………… 56
英文參考文獻…………………………………………………… 56
中文參考文獻…………………………………………………… 61

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