政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/115474
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113324/144300 (79%)
Visitors : 51117717      Online Users : 847
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://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
    王信實
    Lee, Wen-Chieh
    Wang, Shinn-Shyr
    陳郁喬
    Chen, Yu-Chiao
    Keywords: 創新創業
    創業投資
    研發投入
    資源錯置
    公開發行
    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。
    陳東升，(2003)，「積體網路：台灣高科技產業的社會學分析」，台北：群學出版社。
    Acemoglu, D., Robinson, J. A., & Verdier, T. (2012). Can`t We All Be More Like Scandinavians?Asymmetric Growth and Institutions in an Interdependent World. NBER Working Paper, No. 18441.
    Aspinwall, M., & Greenwood, J. (2013). Collective Action in The European Union: Interests and The New Politics of Associability. London: Routledge.
    Bartelsman, E., Haltiwanger, J., & Scarpetta, S. (2013). Cross-Country Differences in Productivity: The Role of Allocation and Selection. The American Economic Review, 103(1), 305-334.
    Begg, I. (1999). Cities and Competitiveness. Urban Studies, 36(5-6), 795-809.
    Breusch, T. S., & Pagan, A. R. (1980). The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics. The Review of Economic Studies, 47(1), 239-253.
    Buera, F. J., Kaboski, J. P., & Shin, Y. (2011). Finance and Development: A Tale of Two Sectors. The American Economic Review, 101(5), 1964-2002.
    Chan, L. K., Lakonishok, J., & Sougiannis, T. (2001). The Stock Market Valuation of Research and Development Expenditures. The Journal of Finance, 56(6), 2431-2456.
    Gompers, P. A., Mukharlyamov, V., & Xuan, Y. (2016). The Cost of Friendship. Journal of Financial Economics, 119(3), 626-644.
    Hall, B. H., Jaffe, A. B., & Trajtenberg, M. (2001). The NBER Patent Citation Data File: Lessons, Insights and Methodological Tools. NBER Working Paper, No. 8498.
    Hall, R. E., & Jones, C. I. (1999). Why Do Some Countries Produce So Much More Output per Worker than Others? The quarterly journal of economics, 114(1), 83-116.
    Hausman, J. A. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251-1271.
    Hopenhayn, H., & Rogerson, R. (1993). Job Turnover and Policy Evaluation: A General Equilibrium Analysis. Journal of political economy, 101(5), 915-938.
    Hsieh, C. T., & Klenow, P. J. (2009). Misallocation and Manufacturing TFP in China and India. The quarterly journal of economics, 124(4), 1403-1448.
    Hsieh, C. T., & Klenow, P. J. (2014). The Life Cycle of Plants in India and Mexico. The quarterly journal of economics, 129(3), 1035-1084.
    Huang, G., & Song, F. M. (2005). The Financial and Operating Performance of China`s Newly Listed H-firms. Pacific-Basin Finance Journal, 13(1), 53-80.
    Jain, B. A., & Kini, O. (2008). The Impact of Strategic Investment Choices on Post-Issue Operating Performance and Survival of US IPO Firms. Journal of Business Finance & Accounting, 35(3‐4), 459-490.
    Jang, S. L., & Huang, G. G. (2005). Public R&D and Industrial Innovations at the Project Levels: An Exploration of Taiwans Public Research Projects. Contemporary Economic Policy, 23(4), 636-646.
    Johnson, P. (1986). New firms: An Economic Perspective. London: Allen and Unwin.
    Lagos, R. (2006). A Model of TFP. The Review of Economic Studies, 73(4), 983-1007.
    Lanjouw, J. O., & Schankerman, M. (2004). Patent Quality And Research Productivity: Measuring Innovation With Multiple Indicators. The Economic Journal, 114(495), 441-465.
    Lerner, J. (2009). Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed--and What to Do About It. Princeton University Press.
    Lucas , R. (1978). On the Size Distribution of Business Firms. The Bell Journal of Economics, 9(2), 508-523.
    McConnell, J. J., & Muscarella, C. J. (1985). Corporate Capital Expenditure Decisions and the Market Value of the Firm. Journal of Financial Economics, 14(3), 399-422.
    Megginson, W. L., Nash, R. C., & Randenborgh, M. (1994). The Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis. The Journal of Finance, 49(2), 403-452.
    Mikkelson, W. H., Partch, M. M., & Shah, K. (1997). Ownership and Operating Performance of Companies that Go Public. Journal of Financial Economics, 44(3), 281-307.
    Mundlak, Y. (1978). Pooling of Time Series and Cross Section Data. Econometrica, 46(1), 69-85.
    Prescott, E. C. (1998). Lawrence R. Klein lecture 1997: Needed: A theory of total factor productivity. International economic review, 39(3), 525-551.
    Ravenscraft, D., & Scherer, F. M. (1982). The Lag Structure of Returns to Research and Development. Applied economics, 14(6), 603-620.
    Robinson, J. A., & Acemoglu, D. (2012). Why Nations Fail: The Origins of Power, Prosperity, and Poverty. New York: Crown.
    Romer, P. M. (1986). Increasing Returns and Long-Run Growth. Journal of political economy, 94(5), 1002-1037.
    Saxenian, A. (1999). Silicon Valley`s New Immigrant Entrepreneurs. San Francisco: Public Policy Institute of California.
    Scherer, F. M. (1965). Firm Size, Market Structure, Opportunity, and the Output of Patented Inventions. The American Economic Review, 55(5), 1097-1125.
    Schumpeter, J. A. (1939). Business Cycles: A Theoretical, Historical, and Statistical Analysis of the Capitalist Process. New York: McGraw-Hill.
    Description: 碩士
    國立政治大學
    財政學系
    104255023
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0104255023
    Data Type: thesis
    Appears in Collections:[Department of Public Finance] Theses

    Files in This Item:

    File Description SizeFormat
    502301.pdf2948KbAdobe PDF225View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback