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    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/115474

    Title: 創新創業市場與資源錯置:以創投投資電子產業研發效率為例
    Resource Misallocation in New Ventures : The Case of Innovation Investment in ICT Industry
    Authors: 陳郁喬
    Chen, Yu-Chiao
    Contributors: 李文傑

    Lee, Wen-Chieh
    Wang, Shinn-Shyr

    Chen, Yu-Chiao
    Keywords: 創新創業
    New Venture
    R&D Investment
    Venture Capital
    Resource Misallocation
    Date: 2017
    Issue Date: 2018-01-03 16:22:30 (UTC+8)
    Abstract: 隨著經濟全球化的發展,創新創業在國際競爭的地位越來越重要,創新不僅是國家經濟增長的動力,也是企業長期競爭力的關鍵。我國創業投資在電子產業快速發展進程中,扮演緩解新創企業融資障礙的重要角色。近期各項經濟數據均顯示,伴隨國家產業創新政策,電子新創企業在研發投入過程中有嚴重的資源錯置問題。本研究以台灣創投投資電子產業之研發效率為例,研究結果證實電子新創企業於首次公開發行期間具研發效率不足現象,主要原因為企業致力於美化財報,提高資本支出以利當期產出反應高財務績效,而抑制研發投入作為上市(櫃)經營策略。
    Innovation activities have long been accredited by its crucial role to sustain continuous long-term economic growth. Recent studies nonetheless suggested severe problems of input misallocation associated with innovation investment. This research measures input misallocations of venture capital supported business and identified significant underinvestment of new ventures right before their initial public offerings (IPOs). This is because new ventures have the incentives to adjust the reported earnings by cutting the R&D investment that is supposed to cut the current expense but not to affect short-term operational performance in the market. Therefore, new ventures would typically incur underinvestment in innovation activities right before IPOs.
    Reference: 王平、李文傑,(2012),「台灣經濟發展之過去現在與未來」,李誠(主編),《後ECFA時代的台灣經濟發展政策》,遠流出版,頁23-60。
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    Description: 碩士
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0104255023
    Data Type: thesis
    Appears in Collections:[財政學系] 學位論文

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