本研究為探討投資者認知公司無形資產，會藉由公司競爭優勢的認知來影響投資意願，而無形資產的構成因子共包含兩個，分別為專利權與品牌，又投資意願分為專利權的投資意願與品牌的投資意願。本研究的對象，係為一般投資者，採用問卷調查法，總計問卷發放份數為230份，利用共同方法變異分析、相關分析、多元迴歸分析、路徑分析及變異數分析等來進行實證分析。
研究結果顯示，(一)投資者認知公司的專利權價值，會正向影響公司競爭優勢的認知；(二)投資者對公司無形資產專利權價值的認知會藉由公司競爭優勢的認知，正向影響投資意願；(三)投資者認知公司的品牌價值，會正向影響公司競爭優勢的認知；(四)投資者對公司無形資產品牌價值的認知會藉由公司競爭優勢的認知，正向影響投資意願；(五)投資者對公司無形資產價值的認知，會正向影響投資意願；(六)投資者對公司無形資產價值的認知會藉由公司競爭優勢的認知，正向影響投資意願。最後，根據研究結果，本研究對學術上與實務上提出後續研究的建議。
This study aims to explore investors’ perceptions on companies’ intangible assets and their impact on investment intentions through the element of companies’ competitive advantages. In this study, the two factors that constitute intangible assets are patent rights and brands; as for investment intentions, they are investment intentions on patent rights and investment intentions on brands. The target of this study is the general investor. This study adopted the questionnaire survey method, issued a total of 230 copies of questionnaires, and performed empirical analyses by applying the common method variance analysis, correlation analysis, multiple regression analysis, path analysis, and analysis of variance.
This study finds that: (1) investors’ perceptions of companies’ patent rights positively affect their perception of companies’ competitive advantages; (2) investors’ perceptions of the patent rights of companies’ intangible assets positively affect investment intention through the perception of companies’ competitive advantages; (3) investors’ perceptions of companies’ brand values positively affect their perception of companies’ competitive advantages; (4) investors’ perceptions of the brand values of companies’ intangible assets positively affect investment intention through the perception of companies’ competitive advantages; (5) investors’ perceptions of companies’ intangible assets positively affect investment intention; (6) investors’ perceptions of companies’ intangible assets positively affect investment intention through the perception of companies’ competitive advantages. Lastly, this study offers academic and practical recommendations for future research, following the findings of this study.
