Diversification Strategies and Performance for Listed Construction Company in Taiwan

• Main Authors: Tung, Yu-Shen, 董育伸
• Other Authors: Cho, Chia-Ching
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/by9mdu

碩士 === 國立中正大學 === 會計與資訊科技學系碩士在職專班 === 106 === The study employs related or unrelated diversified investments by equity method and recognized profit or loss to calculate equity value by adjusted version of Ohlson’s valuation model. Also, data envelopment analysis (DEA) is used to evaluate the technical efficiency of each construction firm. The analysis results show that the more income from related diversified investments by equity method will increase the market positive evaluation of the company's equity. On the contrary, due to the high financial leverage, the more unrelated investment, bring the more negative market evaluation in unfavorable environment. Further, planning and coordinating production processes will increase business performance by related diversified investment.