The Effect of Investment Tax Credit and R&D Expenditure on Corporate Performance-A Study On Electronics Industry
碩士 === 長榮大學 === 經營管理研究所 === 101 === Over the years, the Government assists industries in investment and development, the most direct incentives for enterprises is the investment tax credit. Investment tax credits went through "Statute for the Encouragement of Investment", "Statute for...
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ndltd-TW-101CJU004570082015-10-13T22:18:45Z http://ndltd.ncl.edu.tw/handle/20676040229509678637 The Effect of Investment Tax Credit and R&D Expenditure on Corporate Performance-A Study On Electronics Industry 投資抵減、研發支出對企業經營績效之影響-以電子業為例 Li-Chen Chen 陳俐臻 碩士 長榮大學 經營管理研究所 101 Over the years, the Government assists industries in investment and development, the most direct incentives for enterprises is the investment tax credit. Investment tax credits went through "Statute for the Encouragement of Investment", "Statute for Upgrading Industries" and "Industrial Innovation Act", with now the period of "Industrial Innovation Act". "Industrial Innovation Act" is in the same direction of tax reform, the act of income tax rate cut to 17% and narrowing the scope of industries tax incentives. The sample was collected from Taiwan listed electronics companies with investment tax credit disclosure in the financial report of 2010-2011. In this research, we use regression analysis as the primary method to research the impacts of investment tax credits from the Statute for Industrial Innovation and the past Statute for Upgrading Industries, and R&D expenditure on corporate performance in the electronics industry. The model assumes the Tobin's Q as the proxy variable of the corporate performance. And the main independent variables are investment tax credits from the Statute for Industrial Innovation, the past Statute for Upgrading Industries, and the R&D expenditure. The empirical results show: 1. Investment tax credit from the past Statute for Upgrading Industries has no significant effect on the electronics companies as a whole and OTC electronics companies corporate performance but has significant negative effect on listed electronics companies corporate performance. 2. Investment tax credit resulted from R&D expenditure from Industrial Innovation Act has positive and significant effect on electronics companies as a whole and also on both listed and OTC groups. 3. R&D expenditure has positive and significant effect on electronics companies as a whole and also on both listed and OTC groups. Keywords: Industrial Innovation Act, Investment Tax Credit, R&D Expenditure , Corporate Performance 莊義雄 彭俊揚 2013 學位論文 ; thesis 73 zh-TW |
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碩士 === 長榮大學 === 經營管理研究所 === 101 === Over the years, the Government assists industries in investment and development, the most direct incentives for enterprises is the investment tax credit. Investment tax credits went through "Statute for the Encouragement of Investment", "Statute for Upgrading Industries" and "Industrial Innovation Act", with now the period of "Industrial Innovation Act". "Industrial Innovation Act" is in the same direction of tax reform, the act of income tax rate cut to 17% and narrowing the scope of industries tax incentives. The sample was collected from Taiwan listed electronics companies with investment tax credit disclosure in the financial report of 2010-2011. In this research, we use regression analysis as the primary method to research the impacts of investment tax credits from the Statute for Industrial Innovation and the past Statute for Upgrading Industries, and R&D expenditure on corporate performance in the electronics industry.
The model assumes the Tobin's Q as the proxy variable of the corporate performance. And the main independent variables are investment tax credits from the Statute for Industrial Innovation, the past Statute for Upgrading Industries, and the R&D expenditure. The empirical results show:
1. Investment tax credit from the past Statute for Upgrading Industries has no significant effect on the electronics companies as a whole and OTC electronics companies corporate performance but has significant negative effect on listed electronics companies corporate performance.
2. Investment tax credit resulted from R&D expenditure from Industrial Innovation Act has positive and significant effect on electronics companies as a whole and also on both listed and OTC groups.
3. R&D expenditure has positive and significant effect on electronics companies as a whole and also on both listed and OTC groups.
Keywords: Industrial Innovation Act, Investment Tax Credit, R&D Expenditure , Corporate Performance
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author2 |
莊義雄 |
author_facet |
莊義雄 Li-Chen Chen 陳俐臻 |
author |
Li-Chen Chen 陳俐臻 |
spellingShingle |
Li-Chen Chen 陳俐臻 The Effect of Investment Tax Credit and R&D Expenditure on Corporate Performance-A Study On Electronics Industry |
author_sort |
Li-Chen Chen |
title |
The Effect of Investment Tax Credit and R&D Expenditure on Corporate Performance-A Study On Electronics Industry |
title_short |
The Effect of Investment Tax Credit and R&D Expenditure on Corporate Performance-A Study On Electronics Industry |
title_full |
The Effect of Investment Tax Credit and R&D Expenditure on Corporate Performance-A Study On Electronics Industry |
title_fullStr |
The Effect of Investment Tax Credit and R&D Expenditure on Corporate Performance-A Study On Electronics Industry |
title_full_unstemmed |
The Effect of Investment Tax Credit and R&D Expenditure on Corporate Performance-A Study On Electronics Industry |
title_sort |
effect of investment tax credit and r&d expenditure on corporate performance-a study on electronics industry |
publishDate |
2013 |
url |
http://ndltd.ncl.edu.tw/handle/20676040229509678637 |
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