Book Value–The Operating Performance of U.S. ICT Enterprises

• Main Authors: Huang Chun Hao, 黃君浩
• Other Authors: Chang Shun Chiao
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/b76xeg

碩士 === 國立暨南國際大學 === 經濟學系 === 96 === This thesis uses panel data from 1998 to 2005, and is aimed at 143 U.S. Information and Communication Technology enterprises listed on the U.S. Stock Exchange. It contains 38 semiconductor firms, 42 electronic components and accessories firms, and 63 computer equipment firms. And we utilize Generalized Method of Moment to observe the operating variables of each industry and influence each book value per share . The empirical result shows that retained earnings, earnings per share (EPS), and EPS fluctuation rate all influence book value per share significantly and equidirectionally among three industries. The influence of net income (loss) to book value per share of semiconductor industry and electronic components and accessories industry are in the order of negative and positive. Influence of inventory to book value per share in computer equipment industry is positive, and book value per share in other two industries is negative. Total assets and operating income ratio are merely significant in electronic components and accessories industry. The above results reveal that the operating variables we choose have certain explanatory ability, and as a result of the industrial characteristic difference, the influence of operating ability variables to book value per share are discrepant among each industry.