| 摘要: | 在全球快速整合的知識經濟時代裡，研發與創新已經成為取得產業競爭優勢並提升國家整體競爭力之利器，很明顯可以看到各國企業都致力於整合科技資源，加強研發與創新的能力，以增加其企業價值與績效。
由於每家公司所投入的研發活動的強度不盡相同，對此，引發想要探討企業的研發強度是否會影響企業價值及績效表現。本研究以2002年至2011年的高科技產業為研究樣本，利用多元迴歸來分析研發強度、企業價值與經營績效之關聯性。
實證結果顯示，高科技產業的研發強度與企業價值呈顯著正相關，顯示研發強度為增加企業價值之重要因素；高科技產業的研發強度與經營績效呈顯著負相關，顯示研發強度並非是使績效更好的重要因素。由本研究可得知，研發活動是高科技產業所不可或缺的，而其影響性也是不可忽略的。
R & D and innovation has become a source of an industry competitive advantage and enhance overall national competitiveness in recent years. It is obvious that the countries are committed to the integration of scientific and technological to enhance the R & D and innovation capacity.
We can find that each company has invested R & D activities are not the same. Thus, let me have the incentive to investigate the relationship among R&D intensity, firm value and enterprise performance. In this study, we chose the high-tech industry from 2002 to 2011 as the sample. To discuss the association among R&D intensity, firm value and enterprise performance by using regression analysis.
The empirical results show that high-tech industry’s R&D intensity and firm value of a significant positive correlation. It means that R&D intensity is the most important factor to increase firm value. Significant negative relationships exist between high-tech industry’s R&D intensity and enterprise performance. That means R&D intensity does not be able to make enterprise performance better. |
