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Please use this identifier to cite or link to this item: http://ntour.ntou.edu.tw:8080/ir/handle/987654321/16644

Title: 平衡計分卡與企業價值之關連性研究-以定期航運業為例
The Study on the Relationship Between Balanced Scorecard and Business Value -The Case of Liner Shipping Industry
Authors: Hsuan-Yi Wang
Contributors: NTOU:Department of Shipping and Transportation Management
Keywords: 無形資產;平衡計分卡;經濟附加價值;市場附加價值;企業價值
Intangible Asset;Balanced Scorecard;Economic Value Added;Market Value Added;Enterprise Value
Date: 2005
Issue Date: 2011-06-30T08:40:46Z
Abstract: 隨著知識經濟時代及資訊時代的來臨,無形資產已成為企業的重要競爭要素,但無形資產不易衡量,因此在衡量企業績效時亦往往被忽略。而1996年平衡計分卡概念的提出,讓企業有了遵循的方向,平衡計分卡的設計保留了財務量度,並擴充非財務面的衡量指標,彌補了財務量度僅衡量過去績效的不足,採用平衡計分卡,企業可以衡量如何為顧客創造價值,如何加強企業內部能力並投資於必要的人、系統和程序,以增進未來的績效。本研究探討平衡計分卡是否可用來衡量企業價值,以我國89年至93年之上市定期航運業為研究樣本,以經濟附加價值及市場附加價值為企業價值變數,探討平衡計分卡與企業價值之變動關係。 實證結果彙總如下: 1、平衡計分卡財務構面之股東權益報酬率、每股盈餘及負債比率與企業價值有顯著正相關。 2、平衡計分卡顧客構面之主要航線數目及市場成長率與企業價值有顯著正相關。 3、平衡計分卡內部流程構面之固定資產週轉次數與企業價值有顯著正相關;應收帳款週轉次數與企業價值有顯著負相關。 4、平衡計分卡學習與成長構面之員工創益率及用人費用率與企業價值有顯著正相關。 5、整體平衡計分卡與企業價值有顯著正相關,平衡計分卡組成要素間的綜效,能有效地衡量企業價值。 關鍵詞:無形資產、平衡計分卡、經濟附加價值、市場附加價值、企業價值
As the knowledge-economic era and the information era coming, intangible asset becomes the important component of business running. But intangible asset is hard to evaluate, so we always ignore the intangible asset when we determine the operation results of an enterprise. Enterprises have the direction when the balanced scorecard’s concept offered in 1996. Balanced scorecard preserves financial indicators and expands non- financial indicators to make up for the shortage of the traditional performance evaluation. After adopting balanced scorecard, enterprises can measure the value which is created for their customers; how to increase their ability and invest the necessary people, system and procedure to increase the future performance. This study adopted Taiwan’s listed liner shipping companies from 2000 to 2004 as samples, EVA and MVA as enterprise value variables, to examine the relationship between balanced scorecard and enterprise value. This empirical study reveals: 1、Return on stockholders’ equity(ROE), earnings per share(EPS) and liability ratio(LA) in financial perspective are significantly positive correlated with enterprise value. 2、The number of shipping lines(LINE) and the share growth rate(SG) in customer perspective are significantly positive correlated with enterprise value. 3、Fixed asset turnover(FAT) in internal business process perspective is significantly positive correlated with enterprise value; receivable turnover(ART) times in internal business process perspective is significantly negative correlated with enterprise value. 4、Benefit from workers(LB)and expenses on workers(LCOST)in learning and growth perspective are significantly positive correlated with enterprise value. 5、Balanced scorecard is significantly positive correlation with enterprise value . The effectiveness from components of balanced scorecard can evaluate enterprise value effectively. Keywords: Intangible Asset, Balanced Scorecard, Economic Value Added, Enterprise Value
URI: http://ethesys.lib.ntou.edu.tw/cdrfb3/record/#G0M93730020
Appears in Collections:[航運管理學系] 博碩士論文

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