Economic Value Added ¡]EVA¡^to be a business performace indicator popularly. It surveys business¡¦ ability of value creation through tranditional accounting net income and capital opportunity cost.
In this study, I focus on IC Design industries¡¦ performance by EVA and use ten years data to examine it.
The study purposes as below,
A. Does Taiwan IC Design Industry owns ability of value creation for share owners ?
B. Find out the factors of Taiwan IC Design Industry¡¦s performance.
C. Comment on Taiwan IC Design Industry¡¦s performance in various sub-industries
D. Does Taiwan IC Design Industry exist variation in various sub-industries ?
E. Find out which sub-industry owns the best efficiency and the lowest volatility in the meanwhile.
F. Find out the factors of Taiwan IC Design Industry¡¦s ability of value creation.
The study finding as below,
A. The standard deviation and quartile deviation of Taiwan IC Design Industry are uniformity and it is implying that the normal distribution and probability distribution are similar.
B. About 80% of EVA-Spread of Taiwan IC Design companies are positive, it implies that the ability of value creation of Taiwan IC Design Industry is very well.
C. According to evidence-based data, the WACC of Taiwan IC Design Industry is influenced by the cost of equity capital.
D. The ROIC of Taiwan IC Design Industry is influenced by Taiwan Semi-conductor Inductry¡¦s ROIC and the real GDP growth rate of Hongkong, China and South Korea.
E. The capital turnover of Taiwan IC Design Industry does not link with the ROIC of Taiwan IC Design Industry.
F. According to evidence-based data, the variation is exist between Taiwan IC Design Sub-industries.
G. The result of regression analysis that past years Invested Capital Growth Rate of sub-industries to be independent variable and EVA-Spreads to be dependent variable implys that the EVA-Spread of Taiwan IC Design Industry is not effected by Invested Capital Growth Rate, then we know that Invested Capital is not the main factor of value creation of Taiwan IC Design Industry.
H. The Capital Turnover Rate and the Return Rate of EBIT is the main factors of ROIC, they effected the sub-industries by different levels.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0903109-145851 |
| Date | 03 September 2009 |
| Creators | Pu, I-jung |
| Contributors | Huang, Jen-Jsung, Kuo, Hsioujen, David S. Shyu |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0903109-145851 |
| Rights | unrestricted, Copyright information available at source archive |
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