臺灣博碩士論文加值系統

規模是生技產業成功的關鍵嗎？是否會影響其投入研發費用所產生經營績效的不同效果，本研究以台灣上市上櫃生技產業為樣本，樣本期間取自2007年至2011年共5年83家公司，探討不同規模之生技產業，其研發費用對經營績效的影響，研究結果顯示：當公司規模大於207.79億元時，研發費用每增加1%，經營績效將增加0.0054%；當公司規模小於等於207.79億元時，研發費用每增加1%，經營績效將降低3.0777%，也就是說當規模越大的公司投入的研發費用能增加公司經營績效。

Using a panel of 83 firms for Chemical Biotechnology industry in Taiwan during a 5-year period (2007-2011), this study tests whether there is an optimal level of firm size, which affect R&D and firm performance. The results show that the greater the firm size, the higher will be the firm performance affected by the R&D expenditure. The results allow investors to more accurately value the firm by permitting the R&D expenditures level to serve as a signal.

目錄
摘要 I
ABSTRACT II
致謝 III
表目錄 V
圖目錄 VI
第壹章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 4
第三節 研究流程 5
第四節 研究架構 6
第貳章 文獻探討 7
第一節 研發費用及經營績效 7
第二節 公司規模、研發費用及經營績效 13
第參章 研究方法 20
第一節 資料來源與樣本篩選 20
第二節 變數衡量 20
第三節 縱橫單根檢定 22
第四節 縱橫平滑移轉迴歸模型說明與設定 22
第肆章 實證結果與分析 33
第一節 敘述性統計 33
第二節 縱橫單根實證結果 35
第三節 縱橫平滑移轉迴歸模型之實證結果 37
第伍章 結論與建議 43
第一節 結論 43
第二節 研究限制 43
第三節 研究建議 44
參考文獻 45



表目錄
表1、研發費用及經營績效文獻表格整理 16
表2、公司規模、研發費用及經營績效文獻表格整理 19
表3-1、樣本選取過程 20
表3-2、研究變數彙總表 22
表4-1-1、敘述性統計(N=415) 33
表4-1-2、各年度樣本之敘述性統計 34
表4-2-1、縱橫單根檢定 36
表4-3-1、以公司規模為門檻變數，研發費用與經營績效之同質性檢定 37
表4-3-2、以公司規模為門檻變數，研發費用與經營績效之模型選擇 37
表4-3-3、以公司規模為門檻變數，研發費用與經營績效之區間選擇 38
表4-3-4、以公司規模為門檻變數，研發費用與經營績效之係數估計 38
表4-3-5、以公司規模為門檻變數，研發費用與控制變數對經營績效之係數估計 39
表4-3-6、依年度區分特性 40
表4-3-7、大規模公司名稱 42


圖目錄
圖1 研究流程圖 6
圖2 m=1 之轉換模型 26
圖3 m=2之轉換模型 27

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