| Summary: | 碩士 === 中國文化大學 === 國際企業管理學系 === 102 === Mergers and acquisitions are often carried out due to the need of corporate expan-sion. Private investors commonly seek some private investments such as purchasing stocks in order to gain profits. All of above need investment information regarding how to select companies with potential in performance. Past literatures and the existing fi-nancial theories has shown that financial decisions are associated with corporate per-formance. If company managers can make proper financial decisions, the corporate performance may be boosted consequently and as a result, the company may become the investment targets. Furthermore, if the current or future corporate performance can be projected based on the undertaken financial decisions, the investors can use this im-portant information as the guidelines for the mergers and acquisitions or investment targets. The financial decisions in the past literatures included three constructs, invest-ment decisions, financing decisions and dividend policy, and under each dimension there are multiple proxies. However, the researchers may consider different constructs in their studies and apply various proxies for any one of these three dimensions. Therefore, the objective of this study is to integrate all possible dimensions and the related proxies considered in the past literatures and explore the association between financial decisions and corporate performance. The key determinants affecting the company's performance will be determined in this study and used to identify the corporate performance status in selecting possible investment targets.
The empirical results show, different effects according to the key industries of the determinants of corporate performance varies, for example, the semiconductor industry, optical industry, electronic components and computer and peripheral equipment industry and other industries in profitability as the key determinant, Food industry is liquidity. Furthermore, the prediction accuracy of the future performance of the company in order to predict the performance of a year ago is most accurate.
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