| Summary: | 碩士 === 國立中央大學 === 企業管理研究所 === 98 === Why some companies make money, but some companies are still losing money
in the best period in the economics? From the economics side, it’s good time to invest
because investment behavior of the economic costs are lower during the downturn in
the economics . This study investigates the problem which the changes of the
variables in the bottom of economics which companies have better performance in
peak of the economics has bottomed. By the research and development expense
ratio, operating profit, free cash flow to explore companies have more profit and
earnings performance of the companies behind the performance of the three financial
indicators in the difference changes the peak of the economics . In the first, this study
selected the better performance and performance behind in peak of economy the
samples to descriptive statistics and statistical test T, observed changes in
characteristics of the sample variables. Then this study use the two periods of the
three financial variables on the peak of economic of the earnings per share to do
regression analysis the impact of before variables on later earnings.
For the company decision makers in the economy has better business interests in
the bottom of economy and these will be better at the after peak of earnings per share.
It’s a good time to invest on company’s R&D in the bottom of economy;
over-investment behavior may also affect the performance level of factors in free cash
flow. For outside investors of company , it’s a good investment objectives which has
higher operating profit in the bottom of economy；To choice these companies which
have positive free cash and combined with a sound system of corporate oversight
recommendations of this study is the choice to direct.
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