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• Main Authors: Yung-hsiang Hsu, 許詠翔
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/84273242382035370007

碩士 === 東吳大學 === 經濟學系 === 99 === This article studies the operational risk for electronics industry. There are 486 listed electronic companies in sample. The study uses Top-Down model to estimate the value of operational risk for each company. We then test whether the value of operational risk is greater in crises.We also want to see the predictive power of operational risk for company's financial crisis. The empirical results show that: (1) Operational risk value is significantly higher in crisis for all samples, semiconductor industry, computer and peripherals industry, and the electronic components industry. (2) In Panel Data Logit model, the increase of profitability and liquidity will significantly decrease while the increase of interest rates will significantly increase the probability of crisis for electronics industry. In Panel Data Multinomial Logit model, the increase of profitability and liquidity will significantly decrease while the increase of insecurity and interest rates will significantly increase the probability of lawsuits for the electronics industry. The increase of profitability and liquidity will significantly decrease while the increase of Interest rates will significantly increase the probability of other events. (3) In all models, the increase of profitability and the decrease of interest rate will decrease the probability of crisis for electronics industry. The increase of operational risk will increase the probability of crisis though the effect is insignificant.