說英語有助於創新嗎？來自台灣的證據

Abstract

本研究旨在探討發行英文財務報告是否能提升企業創新。我主張發行英文財務報告可以提升企業創新，因為它降低信息不對稱，並降低外國投資者的資金成本，有利於企業獲得更多資源與資金用於創新行為。隨著信息不對稱的減少能使外資更有效地監督企業，因此會使企業更重視長期績效，並致力於有益於長期績效的活動，例如創新。研究結果顯示，強制發行英文財務報告與企業創新呈正相關。此外，本研究結果還發現，強制發行英文財務報告與外資持股比例呈正相關。這些結果表明，英文財務報告可以通過降低信息不對稱來減少語言障礙，吸引外國投資，並提升企業創新。總的來說，研究結果表明，英文財務報告對企業創新有著強大的影響力。

This study examines whether issuing English financial reports can enhance corporate innovation. I argue that issuing English financial reporting can enhance corporate innovation because it can mitigate information asymmetry and reduce the capital cost of foreign investors. This, in turn, allows businesses to allocate more resources towards innovative activities. Moreover, as the information asymmetry decreases, foreign investors can monitor enterprises more effectively, encouraging corporations to contribute to long-term valued activities, such as innovation. I find that mandatory English financial reporting is positively associated with corporate innovation. In addition, I also find that mandatory English financial reporting is positively correlated with the degree of foreign ownership. These findings indicate that English financial reports can reduce language barriers by reducing information asymmetry, attracting foreign investment, and enhancing corporate innovation. Overall, the findings suggest that English financial reports have a strong impact on corporate innovation.