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Title:	專利資訊與分析師盈餘預測 Patents and analysts` forecasts
Authors:	鄭人維 Cheng, Ren Wei
Contributors:	詹凌菁鄭人維 Cheng, Ren Wei
Keywords:	專利分析師盈餘預測研究發展費用企業未來盈餘 Patent Analyst earnings forecast R&D expense Future earnings
Date:	2009
Issue Date:	2010-12-08 01:53:05 (UTC+8)
Abstract:	本研究以研究發展費用作為專利的投入變數，以專利數作為專利的產出數量變數，以平均專利範圍及平均專利發明人數作為專利的產出品質變數，使用長期間與大範圍的台灣樣本來探討專利資訊與企業財務績效之關連性，並透過專利資訊的使用者-分析師的觀點來判別哪些專利資訊是資訊使用者眼中的攸關資訊。研究結果發現大量的專利並不會對企業未來盈餘有明顯助益，擁有高品質的專利才是對企業未來盈餘有所助益的關鍵因素，研究結果亦發現分析師在進行盈餘預測時，並未適當的利用專利產出品質與專利產出數量資訊，且這些未經適當利用的專利資訊會增加盈餘預測誤差。故本研究建議資訊揭露相關準則及法規可針對專利資訊給予更完整、更透明的揭露。 Patent’s value is hard to accurately identify under current generally accepted accounting principles. This paper uses firms in the Taiwan Stock Exchange to investigate the association of firm’s patents, future financial performance and the information used in analysts’ earnings forecasts. The patents were measured by the proxies of R&D expenditures, granted patents, patent claims and the number of patent inventors. The evidences show that possessing a large number of patents does not help future financial performance, but granting high quality patents does. The evidences also show that analysts do not appropriately use the information provided by patents, and this truly causes analysts’ forecast errors. Therefore, I suggest giving patents clearer and more complete disclosure, so that investors can obtain more value-relevant information.
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Description:	碩士國立政治大學會計研究所 97353035 98
Source URI:	http://thesis.lib.nccu.edu.tw/record/#G0097353035
Data Type:	thesis
Appears in Collections:	[Department of Accounting] Theses

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