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    政大機構典藏 > 商學院 > 會計學系 > 學位論文 >  Item 140.119/136291


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    題名: 政商關係與公司創新之關聯——以美國為例
    Does political connection influence corporate innovation? Evidence from the U.S.
    作者: 許芳綺
    Hsu, Fang-Chi
    貢獻者: 詹凌菁
    Chan, Ling-Ching
    許芳綺
    Hsu, Fang-Chi
    關鍵詞: 政商連結
    研發費用
    專利數
    專利引述數
    創新效率
    Political connection
    R&D expense
    Patents
    Citations
    Innovation efficiency
    日期: 2021
    上傳時間: 2021-08-04 14:29:31 (UTC+8)
    摘要: 本研究主要探討美國市場中，政商連結是否對於公司的創新投入、產出與效率有正向影響，而樣本係以西元2000年至2017年間之上市櫃公司進行實證研究與分析，由37,658筆觀察值構成。研究結果顯示政商連結確實對創新投入與產出皆有顯著的正向關係，創新效率的部分，則是在政商連結建立後之第三年才受其正向影響。除此之外，若對樣本進行高科技與非高科技之分類，亦發現政商連結對於高科技公司之專利數為正相關且顯著之影響。額外測試中，首先我們以外部資金依賴性作為樣本分組之依據，證據顯示政商連結對於低度外部資金依賴性公司之創新較有顯著的正向影響。此外，我們也針對政商連結與創新效率對於公司績效是否有正向及顯著執行新的迴歸分析，結果亦符合預期，對於公司績效而言，創新效率及政商連結皆有正向且顯著之影響。在穩健測試的部分，我們亦使用與主測試不同之政商連結判定，所取得之結果與主測試結果相似，皆可證明政商連結與公司創新有著正向的影響。另外，我們以對專利及引用數取自然對數的方式，並採用零膨脹模型（卜瓦松迴歸）進行測試，結果皆與主測試相互呼應。總結而言，本研究認為公司的政商連結可成為判定其創新部分績效之有價資訊。
    This study investigates the relationship between political connection and innovation, including R&D expense, the number of patents granted, the number of patent citations, and innovation efficiency. Using a sample of 37,658 firm-year observations for the sample period of 2000 to 2017 in the U.S., we find that political connection positively and significantly affects firms’ innovation performance. Moreover, this positive association exists mainly in the high-tech sector. In addition, we find that the positive relationship between political connection and innovation exists mainly in the low external finance dependence group. we further show that politically connected firms with greater innovation are associated with better future performance. Our results are robust to alternative measures of innovation and the use of Poisson regressions. Taken together, firms with political connection perform better in innovation activities, especially those in the high-tech industry or with low dependence on external finance. Overall, the findings suggest that political connection plays an important role in corporate innovation performance.
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    描述: 碩士
    國立政治大學
    會計學系
    108353017
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0108353017
    資料類型: thesis
    DOI: 10.6814/NCCU202101029
    顯示於類別:[會計學系] 學位論文

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