| Summary: | 碩士 === 實踐大學 === 企業管理學系碩士班 === 96 === This study was based on the influence between human capital investment and corporation value. We intended to increase the corporation value by finding the possibility of human capital investment. In recent years, theses treat positively aspect about human capital investment increased the value of corporation. But several theses declared there was no M/B Ratio in Taiwan. Therefore, this study used the direct angle instead of M/B Ratio to verify the corporation value. The main research target was the company of cell phone industry and the sample data is retrieved from the database of the Taiwan Economic Journal (TEJ) and Market Observation Post System (MOPS) during 2003 to 2006.The result of the study shows that intellectual capital has a remarkable influence on human capital.
1.The growth rate of R&D expenses of most of the mobile phone companies have increased gradually. However, it took so long to be reflected by stock value, due to the characteristic of R&D investment.
2.The relationship between the Rate of Return and the growth rate of profit sharing of human capital investment has been significantly verified as positively related, during the year 2003-2004 and 2004-2005.
3.The company’s profits were compressed due to the higher financial variable cost of salary during 2003-2004 and the relatively higher salary growth rate of human capital investment to Rate of Return. The salary growth rate was lower because of the smaller financial variable cost of salary. As a result, the company gained profit, reflected by the Rate of Return.
4.The investment plan of instruction expense, the calculation approach, and the way it presents, of the Taiwan mobile phone company, should be ameliorated.
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