法人說明會召開與產品多角化績效之關聯性

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葉淑美(Shu-Mei Yeh) 查詢紙本館藏

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企業管理學系在職專班

論文名稱

法人說明會召開與產品多角化績效之關聯性
(The impact of conference calls effect to product diversification on performance .)

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摘要(中)

摘要
法人說明會是近年公司管理當局對投資人之重要溝通管道，提高企業資訊透明度及降低企業內部人與外部人的資訊不對稱。藉由法人說明會的召開，管理當局與投資人間的溝通互動較為直接，資訊的揭露亦較為即時。
此即是本研究的重點：法人說明會召開對於產品多角化績效的影響。以台灣經濟新報(TEJ)資料庫中2008-2013年台灣上市上櫃公司為觀察樣本。實證結果發現(1)法人說明會的召開(2)法人說明會的召開次數均能夠提高產品多角化的績效，增加公司的價值，並且顯示(3)經常性召開法人說明會的公司，其產品多角化的績效較佳。

摘要(英)

ABSTRACT
In recent years, firms tend to hold conference calls to have more communication with market investors so that to promote information transparency and to reduce the information asymmetry between insiders and outsiders. By holding conference calls, the communication and interaction between management and investors can be more direct and the disclosure of information.
The primary objective of this paper is to study the effect of conference calls, self information disclosure, to firm and investors. This study examines the association among conference calls, product diversification on performance. Using a sample of publicly traded firms listed on the Taiwan Stock Exchange from 2008 to 2013, we find that to hold and number of conference calls would positively moderate effect on the relationship of product diversification on performance. The results also show that the frequency of conference calls becomes higher, the performance of product diversification becomes higher.

關鍵字(中)

★ 法人說明會
★ 產品多角化績效
★ 資訊透明度

關鍵字(英)

★ conference calls
★ product diversification on performance
★ information transparency

論文目次

壹、緒論……………………………………………………………… 1
1-1 研究背景及動機………………………………………………… 1
1-2 研究目的………………………………………………………… 2
1-3 研究流程………………………………………………………… 3
貳、文獻探討與假說設定…………………………………………… 4
2-1 法人說明會相關文獻…………………………………………… 4
2-2 產品多角化相關文獻…………………………………………… 6
2-2 研究假說………………………………………………………… 11
參、研究方法………………………………………………………… 13
3-1 主要變數定義及衡量方法……………………………………… 13
3-1-1 應變數…………………………………………………………… 13
3-1-2 自變數…………………………………………………………… 13
3-1-3 控制變數………………………………………………………… 15
3-2 實證模式………………………………………………………… 16
肆、選樣及敘述統計分析…………………………………………… 18
4-1 選樣過程………………………………………………………… 18
4-2 敘述統計與相關係數分析……………………………………… 24
伍、實證結果分析…………………………………………………… 27
5-1 召開法人說明會是否提升產品多角化之績效………………… 27
5-2 召開法人說明會次數能否提升產品多角化之績效…………… 28
5-3 經常召開法人說明會的產品多角化績效是否較佳…………… 29
陸、研究結論與建議………………………………………………… 33
6-1 研究結論………………………………………………………… 33
6-2 建議……………………………………………………………… 33
參考文獻 …………………………………………………………………… 35

參考文獻

參考文獻
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指導教授

曹壽民(Shou-min Tsao)

審核日期

2015-6-18

推文