A Study On The Relations Of Multinational Family Business Investment And Firm Value

• Main Authors: Chien, Chialing, 簡嘉伶
• Other Authors: Lee, Mushang
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/46678847729460328012

碩士 === 中國文化大學 === 會計學系 === 100 === Because of the trend of globalization, investment opportunities increasing steadily in Taiwan. While Companies become more and more outward-focused, the majority of family firms that listed on the TSE start to run business overseas, and then become multinational enterprises. In study, first, we discuss the relations of capital expenditure ratio, diversification degree, R&D ratio and firm value in multinational family business. The reviews point out that companies with better growth opportunities not only can result in higher benefits for the company on investment but also enhance the value of the company. Second, in study, we investigate how the growth opportunities influences the relations of investment and corporate value. The data source is from Taiwan Economic Journal and we compile information for listed multinational companies from 2006 to 2010. In chapter 4, we will test Hypothesis by descriptive statistics, correlation analysis and multiple regression analysis. Finally, The empirical results show that firm value and capital expenditure ratio of a significant positive correlation, but and growth opportunities of a significant negative correlation. Growth opportunities for investment in firm value have the effect of intermediate results, empirical results for the significant correlation. In other words, growth opportunities does change the investment of multinational family business enterprise value.