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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 吳淑鈴 | |
| dc.contributor.author | Hui-Ling Teng | en |
| dc.contributor.author | 鄧惠琳 | zh_TW |
| dc.date.accessioned | 2021-06-16T16:04:17Z | - |
| dc.date.available | 2018-07-26 | |
| dc.date.copyright | 2013-07-26 | |
| dc.date.issued | 2013 | |
| dc.date.submitted | 2013-06-27 | |
| dc.identifier.citation | 王雍智、楊雪蘭與孫信郎，2009，應計項目與營運現金流量之異常報酬效應-以我國上市公司為例，碩士論文，國立高雄應用科技大學。
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| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/62551 | - |
| dc.description.abstract | 本研究將淨營運資產區分為短期淨營運資產及長期淨營運資產，以探討公司在不同生命週期，此兩項目對未來獲利的影響程度。
Fairfield, Whisenant, and Yohn (2003)以美國資料作為樣本，發現淨營運資產的組成項目(包括短期淨營運資產及長期淨營運資產)對未來獲利皆呈現負相關，他們認為此現象可歸咎於公司投資報酬遞減效應。而本文以台灣資料做為樣本，發現公司僅在衰退期時，淨營運資產對未來獲利呈現負相關。然而，公司於創立期時，投資報酬最高，且投資報酬依序由創立期、成長期、成熟期至衰退期逐漸降低。因此我的結論支持FWY(2003)的假設，淨營運資產對未來獲利呈現負相關是由於公司的投資報酬遞減效應。我也發現，公司在成熟期及衰退期時，短期淨營運資產及長期淨營運資產對未來獲利是具有不同的資訊內涵。公司在成熟期時，長期淨營運資產相對於短期淨營運資產對未來獲利有較大的正相關。而公司在衰退期時，短期淨營運資產相對於長期淨營運資產對未來的獲利呈現更高度的負相關。 | zh_TW |
| dc.description.abstract | This study disaggregate growth in net operating assets into accruals and growth in long-term net operating assets to examine how the two components affect one-year-ahead returns on assets for firms in different life cycle stages.
Using US data, Fairfield, Whisenant, and Yohn (2003) find a negative relation between growth in net operating assets components (accruals and growth in long-term net operating assets) and future returns on assets. They argue that the relation is due to the diminishing marginal returns on investments. Using company data in Taiwan, I find that the negative relation between growth in net operating assets and future profitability only exists in firms in the decline stage. However, the degree of marginal return on investment is highest for firms in the introduction stage. The magnitude of marginal return on investment is decreasing as firms move from introduction to growth and mature stages. In general, the results support FWY(2003)’s hypothesis that the negative associations between growth in net operating assets and future profitability is because firms experience diminishing marginal returns to investments. I also find that, accruals and growth in long term net operating assets have different implication for future return on assets for firms in the mature stage and decline stages, respectively. Relative to accruals, growth in long-term net operating assets is more positively associated with one-year-ahead return on assets in mature stage. For firms in decline stage, accruals is more negatively associated with one-year-ahead returns on assets relative to growth in long-term net operating assets. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-16T16:04:17Z (GMT). No. of bitstreams: 1 ntu-102-R00722039-1.pdf: 2373074 bytes, checksum: a58824f3382543a1d00852e6fd621af0 (MD5) Previous issue date: 2013 | en |
| dc.description.tableofcontents | 口試委員會審定書 …………………………………………………………......... i
誌謝 …………………………………………………………........... ii 中文摘要 ………………………………………………………….......... iii Abstract ………………………………………………………….. iv 目錄 ………………………………………………………….......... vi 圖表目錄 ………………………………………………………….......... viii 第一章 緒 論 ………………………………………………………….. 1 第一節 研究背景及動機 ………………………………………………… 1 第二節 研究流程及架構 ………………………………………………… 3 第二章 文獻探討 ………………………………………………………….. 5 第一節 生命週期文獻回顧 ……………………………………………. 5 第二節 應計項目異象文獻回顧 ……………………………………….. 11 第三章 研究假說 ………………………………………………………….. 17 第四章 研究方法 ………………………………………………………….. 23 第一節 樣本選取 ………………………………………………………... 23 第二節 變數衡量 ………………………………………………………... 25 第五章 實證結果 ………………………………………………………….. 28 第一節 變數敘述統計 …………………………………………………..... 28 第二節 生命週期對投資報酬遞減程度的影響(H1) …………………. 30 第三節 草創期及成長期之長、短期淨營運資產對未來獲利的影響H2 31 第四節 成熟期之長、短期淨營運資產對未來獲利的影響(H3) …….. 32 第五節 衰退期之淨營運資產對未來獲利的影響(H4) ………………... 32 第六節 衰退期之長、短期淨營運資產對未來獲利的影響(H5) …….. 33 第七節 穩健性測試 ……………………………………………………. ................33 第六章 結論及建議 ………………………………………………………….. 34 參考文獻 ……………………………………………………………………....... 36 附錄 …………………………………………………………………………..... 40 | |
| dc.language.iso | zh-TW | |
| dc.subject | 應計項目 | zh_TW |
| dc.subject | 短期淨營運資產 | zh_TW |
| dc.subject | 長期淨營運資產 | zh_TW |
| dc.subject | 淨營運資產 | zh_TW |
| dc.subject | 生命週期 | zh_TW |
| dc.subject | Net operating assets | en |
| dc.subject | Long-term net operating assets | en |
| dc.subject | Accruals | en |
| dc.title | 從企業生命週期探討長、短期淨營運資產對未來獲利的影響 | zh_TW |
| dc.title | How Short-term and Long-term Net Operating Assets Affect Future Profitability across a Firm’s Life Cycle | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 101-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 劉心才,洪聖閔 | |
| dc.subject.keyword | 生命週期,淨營運資產,長期淨營運資產,短期淨營運資產,應計項目, | zh_TW |
| dc.subject.keyword | Net operating assets,Long-term net operating assets,Accruals, | en |
| dc.relation.page | 41 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2013-06-27 | |
| dc.contributor.author-college | 管理學院 | zh_TW |
| dc.contributor.author-dept | 會計學研究所 | zh_TW |
| 顯示於系所單位： | 會計學系 | |
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