兩岸上市企業電子化績效衡量之實證研究

Abstract

企業導入ERP對企業價值的實質效益，是管理者與研究者關心的重要課題。面對ERP此等重大企業專案，學者間的研究結果並不一致。有別於過去研究多採用單一研究構面，本研究將資訊科技投資的績效評估研究觸角加以延伸，本文同時利用內部財務績效與外部股價全面性探討ERP對企業價值的影響。本研究發現ERP對兩岸企業價值的影響並不一致。ERP對台灣企業股價及財務績效會有顯著正面影響，大陸企業由於基礎條件尚未成熟，致使ERP對大陸企業價值有負面影響。另外本研究亦發現不同公司特性會影響到兩岸資本市場反應的方向與強度。本研究結果亦同時強調在外部財務報表揭露非財務性資訊的重要性，藉以提升財務會計資訊有用性。

Identifying the business value of ERP investments has been a major concern of managers and researchers. Various studies have addressed this issue but have provided contradictory results. While most of the researches focus on single factor, this paper endeavors to extend comprehensive deliberation on ERP by covering the factors of financial performance and stock price. Our study shows that the results of ERP implementation on business value in Taiwan and China are inconsistent. In Taiwan, the ERP implementation can improve long financial performance and short positive stock abnormal returns. On the contrary, ERP implementation has a negative influence on the performance of the firms in China. Furthermore, different characters of the companies in Taiwan and China may have an influence on capital market. Finally, financial statements can disclose the importance of non-financial information to enhance the effectiveness of accounting information.