The Relation of Family Firms’ Investment Shareholding and Investment Performance—An Empirical Analysis of IoT

• Main Authors: WU,PEI-LUN, 吳佩倫
• Other Authors: LIAO,MEI-HUA
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/9sew9c

碩士 === 亞洲大學 === 財務金融學系碩士在職專班 === 105 === Family firms is a common business model of domestic and foreign enterprises, is also an important driver of economic growth. It is one of the most important research topics. And enterprises grow to a considerable scale, will strengthen the competitiveness or integrate upstream and downstream by investment, in order to layout the world, and develop continually. But the advantages of family firms characteristics, such as: focusing on the concentration of supervision to reduce the cost of supervision agents, the pursuit of sustainable management, risk avoidance, the high degree of loyalty of managers and so on. In addition,because of equity and management rights concentrated, causing investment information asymmetry Common problems, for the investment of the enterprise , will be positive or negative impact, there is considerable value of the study to explore. This study explores the relationship between the proportion and the performance of the holding company in the investment of the family firms, and takes the global industry as the important trend in the future. This study takes Internet of Things(IoT) as the empirical research object. The sample contains the 2004 to 2016 Taiwan listed cabinet company, using regression analysis and t test for empirical analysis. The results show that there is a significant negative correlation between the enterprise investment rate and the enterprise shareholding ratio in the Internet of Things industry, but the ratio of the investment and the enterprise investment rate in the family firms is very significant positive correlation, the higher the investment rate of the family firms , the higher the corporate shareholding rate. In addition, the study also found that the holding company's shareholding ratio is higher, the investment in the subsidiary company also has the better profit performance.