The Influences of Investing in Mainland China on Company''s Operating Performance of Electronic Component Industry

• Main Authors: Yu-Hsin Liao, 廖郁欣
• Other Authors: Chung-Jen Fu
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/25743704937933465796

碩士 === 國立雲林科技大學 === 會計系研究所 === 97 === “Rapid technological advances and wide diversity of products” became the characteristics of ECI. Applications of its products spread all over the people''s livelihood and national defense. It developed from the traditional industrial as knowledge-based industries. As the cooperation and labor division of both sides cross the Taiwan Straits are becoming ever more closely. ECI Investing in the mainland from the initial level of division of labor structure to ward vertical division of labor structure. Therefore, investing in Mainland China cause large impacts on company''s operating performance of ECI. This study with those public corporations which investing in the mainland during 2003 to 2007 of the electronic components industry as the research object. ROE and stock returns as the business performance indicators. To discuss the Influences of Investing in Mainland China on company''s operating performance by using the database of TEJ. In this study the scale of investment in mainland is divided into three parts, the “new investment” of last two years; the "initial investment" two years ago and the "old investment" accumulated four years ago. The results of this research showed that: 1.It shows the positive correlation between investment scale and ROE, the impact of pre-investment is the most significant. 2.It shows the positive correlation between investment scale and stock price; the effects of "initial investment" and "old investment" are significant; 3.The impact on return of the investment scale is less significant. The impact of the new investment and the cumulative stock returns that year is negative. Overall, investing in mainland China showed a positive effect on the operating performance of electronic components manufacturers, perhaps the short-term stock returns became poor because the deferred effect of the investment benefit.