頁籤選單縮合
題名 | 以市場價值觀點評估雲端運算宣告效果與影響因素=The Announcement Effect of Cloud Computing and Its Affecting Factors-Market Value Perspectives |
---|---|
作者姓名(中文) | 高麗萍; 何佩珊; 曾思綺; 陳玟蓁; | 書刊名 | 致理學報 |
卷期 | 34:商業與管理特刊 2014.07[民103.07] |
頁次 | 頁685-716 |
分類號 | 448.6 |
關鍵詞 | 雲端運算; 市場價值; 標準化平均累積異常報酬率; Cloud computing; Market value; Standardizing cumulative abnormal returns; SCAR; |
語文 | 中文(Chinese) |
中文摘要 | 近年來雲端運算成為全球熱門的話題,政府及企業積極投入雲端運算產業,而隨著網際網路已成全球普遍的溝通媒介,雲端運算儼然成為網路永續發展的必然趨勢。本研究以2008年1月1日至2012年12月31日選取有公開宣告導入雲端運算的台灣上市公司做為樣本,運用事件研究法和複迴歸分析法檢視當企業自願性宣告導入雲端運算對企業市場價值的影響及其影響因素。本研究發現雲端運算會對企業市場價值產生正面的影響,且公司規模、負債比率、產業政策及產業別等因素均會對雲端運算宣告效果造成顯著影響,尤其是小公司或非電子業的公司宣告雲端運算會有較佳的增額資訊內涵,本研究是首篇以市場價值法評估雲端運算效益,實證結果證實雲端運算與市場價值間存有正面關聯性且意味著公司特性或產業型態亦會影響資本市場反應的方向和強度。 |
英文摘要 | In recent years, cloud computing has become a prominent topic worldwide. Governments and enterprises have been actively involved in the cloud computing industry. In addition, the Internet has become global communication medium and, thus, cloud computing is crucial for the sustainable development of the Internet. In this study, 64 listed companies in Taiwan that had publicly announced the use of cloud computing were selected as the sample. The study period was from 2008 to 2012. The event study methodology was employed to investigate the influence of a company's voluntary announcement of using cloud computing on share price. Additionally, multiple regression analysis was used to examine whether company characteristics have a moderating effect on the announcement of using cloud computing. The empirical results indicated that the announcement of using cloud computing contained significant positive information content, and investors generally considered that small companies or nonelectronic companies' announcement contained high incremental information content. This implies that company characteristics affect the direction and strength of the market's reaction. This research is the first study in which the market-value method was used to assess the benefits of cloud computing. The results of this study can assist enterprises in clarifying the market value of cloud computing. |
本系統之摘要資訊系依該期刊論文摘要之資訊為主。