The Flexible Print Circuit industry now is difficult to earn profit, because of few results , such as, homogeneous products, main materials depending on import of foreign country, rapidly lower down price for competition and being the OEM firm of the main computer producers. If you are not the leading firm in this industry, you will go bankrupt or make loss all the time. My thesis try to find out which factors will influence firm¡¦s profit by compositing eight financial ratio indexes which use principle component analysis and compositing five industry factors in order to provide FPC¡¦s managers to control their cost and profit.
Our research subjects are eight public offer companies, which include Career Tech., SUNFLEX, NEOFLEX, UNIFLEX, FLEXIUM, YHI, ICHIA and MKS. Research period is from 2001 to 2005. Data is annual report of financial statement and prospectus from TEJ, Market observation post system and SFI. We use SAS software to analyze data.
To consider the difference between operating profit and Non-operating profits, using two financial ratios, Capital-operating income ratio and capital-net profit ratio, as the proxy of company¡¦s profit are the regressors and above mentioned thirteen factors are regressive. By processing two stepwise regressions, we could find out the following empirical results¡G
First of all, FPC¡¦s operating profit will be significantly related to mobile phone volume, enterprise risk, credit policy and the ability of asset¡¦s turnover. Adjusted R-square is 0.8236.
Second, FPC¡¦s total profit will be significantly related to mobile phone volume, enterprise risk, credit policy, the ability of asset¡¦s turnover and activity. Adjusted R-square is 0.8328.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0711106-141236 |
| Date | 11 July 2006 |
| Creators | Wang, Jin-kye |
| Contributors | Ming-Chi Chen, Henry Y.Lo, So-de Shyu, Jen-Jsung Huang |
| 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-0711106-141236 |
| Rights | campus_withheld, Copyright information available at source archive |
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