| Summary: | 碩士 === 中原大學 === 會計研究所 === 94 === Abstract
Probe into the advertising expenditure of the food industry to the influence of managing performance in this research, using Economic Value Added and operating income two performance index, is it act as current and lagged advertising expenditure can have influence of front to performance to inspect, in order to find out about advertising expenditure to the importance of enterprises , in order to be regarded as the execution of enterprise's tactics, basis of enterprise's value of creation. Choose 1998 listing 17 companies of cupboard food industry of Taiwan until 2003, it is 102 samples altogether in this research, carry on the positive research, the result is explained as follows respectively:
First, food industry's current advertising expenditure and Economic Value Added, operating income all present positive correlation, keep the same with hypothesis. Show that the food industry can create the difference of the products with a large number of input advertisements, make the status of the market leader; Namely, the food industry can increase the advertising activity, pursue the maximization that enterprise's value and operating income.
Second, Positive correlation appears between lagged advertising expenditure and Economic Value Added of food industry, the same as expectancy direction, but has not reached significant; It is positive correlated with the operating income to lagged advertising expenditure, keep the same with hypothesis. The result points out that the advertising expenditure of the food industry really has a deferred result, lagged advertising expenditure will let the operating income of enterprises increase, but can't increase the value of enterprises, infer that perhaps the reason is the Economic Value Added of the food industry in order to shoulder mostly, earns profits to fail to earn the excess return, so be unable to make the value of the food industry rise to invest the advertisement on its book.
Third, is it differentiates the positive and negative EVA group company of after food industry, between one group of company of EVA> 0 to distinguish, act as one and all show positive correlation with Economic Value Added with lagged advertising expenditure; another of EVA<0 company groups , act as current and lagged advertising expenditure and Economic Value Added appear apparent to shoulder relevant all, contrary to expectancy symbol , find one group of company of EVA<0 unable to make its enterprise value increase in an advertising expenditure from the real example result.
Keyword: Advertising expenditure, Economic Value Added, operational performance
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