Dissertations / Theses: 'Value relevance research (VRR)'

1

Ahumada, P. E. "The theoretical relevance of an updated Marxian theory of commodity in economics." Lincoln University, 2007. http://hdl.handle.net/10182/365.

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How does material production become socially recognised in capitalism? This is a fundamental question to be addressed in capitalist production, since material production takes place privately and independently in a global and atomistic system. This thesis shows that the question is tackled by Marx in the first three chapters of Capital. The process of social recognition of material production is that of the realisation of work carried out privately and independently as part of the social labour. For Marx this occurs through the private and independent work becoming objective social labour as the substance of the value of commodities, and through the latter finding its necessary developed mercantile expression in the price form of commodities. Therefore, private and independent work becomes social labour through the recognition of its product as equivalent to a certain amount of money. The thesis argues that Marx's answer is powerfully insightful but flawed because it did not succeed in fully characterising the historical specificity of commodity. Commodity is not merely the differentiated unity of use value and value but of use value and mercantile use value, and of labour value and mercantile value. The former dialectic is immediate and distinguishes between the utility of commodity as a direct means of consumption or production and that as a means of exchange, fully determining the behaviour of the private and independent commodity producer. The latter dialectic is objective and distinguishes between commodity as the embodiment of the social labour necessary to reproduce it and as the embodiment of command over social labour, enabling the adjustment of the productive structure. Both dialectics are mediated by the mercantile form of value, which allows the indirect expression of labour value as the gravitational force of the system. The theory of commodity offered in this thesis, unlike that of Marx, consistently hinges on the atomistic private and independent commodity producer. The thesis shows that commodity production is the organisation of society's labour for its material reproduction, just as in any previous mode of production. The discovery of the generic aspect of commodity production breaks the false immediate link between production and supply, and that between the labour theory of value and both the supply-side-determined theory of price and the single-factor theory of production. The thesis also shows that the mercantile form of value is what allows society's labour to become an objective and autonomous materially abstract substance regulating the adjustment of the productive system under the form of material signals. This is the specific aspect of a global mode of production comprised of free and independent individuals. The mercantile form of value is thus Adam Smith's invisible hand. Finally, the thesis analyses some implications of the framework with regard to the analysis of monetary phenomena, capital accumulation and sustainable development, and reviews the most popular Marxian topic in Economics: the transformation of values into prices of production.

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Qureshi, Maqsood Iqbal. "The value relevance of goodwill, advertising and research and development [R&D] expenditures : some UK evidence." Thesis, University of Liverpool, 2006. https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.433052.

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Motokawa, Katsuhiro. "Research on Corporate Disclosure of Human Capital:An Analysis from the Decision-Usefulness Approach." Kyoto University, 2018. http://hdl.handle.net/2433/233830.

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Clout, Victoria Jane. "Investigating the relationship between market values and accounting numbers for 30 selected Australian listed companies." Thesis, Queensland University of Technology, 2007. https://eprints.qut.edu.au/16515/1/Victoria_Jane_Clout_Thesis.pdf.

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In capital market research (CMR) studies of the value relevance of accounting numbers are founded upon the concept that, in equilibrium, the book values are equal to or have some long-term relationship with the market value and that market returns are related to book returns. This thesis seeks to resolve a gap in the CMR by examining 30 selected individual firms listed on the Australian stock market during the period 1950 to 2004, using equilibrium correction modelling techniques. Even these limited prior works used cross-sectional techniques rather than the long-run, time-series, analysis used in this study. Moreover, dynamic analysis in the CMR has tended to focus on indexes or portfolio data rather than using firm-specific case study data of the type modelled here. No prior research has taken this approach using Australian data. The results of this thesis indicated that an equilibrium correction relationship between market values and book values for firms listed on the Australian Stock Exchange (ASX) could be determined by using accounting and macroeconomic regressors. The findings of the thesis were consistent with the literature in terms of the variables suggested and important in the firm's valuation from the three main approaches, the analysts (industry) approach, the finance and accounting theory (textbook) approach and the CMR literature approach. The earnings, dividends and book value variables are significant in their relationships with the firm's market values. The models constructed were typically more informative and had an increased forecasting performance compared with the a priori models tested, based on theory and the literature.

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Clout, Victoria Jane. "Investigating the relationship between market values and accounting numbers for 30 selected Australian listed companies." Queensland University of Technology, 2007. http://eprints.qut.edu.au/16515/.

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In capital market research (CMR) studies of the value relevance of accounting numbers are founded upon the concept that, in equilibrium, the book values are equal to or have some long-term relationship with the market value and that market returns are related to book returns. This thesis seeks to resolve a gap in the CMR by examining 30 selected individual firms listed on the Australian stock market during the period 1950 to 2004, using equilibrium correction modelling techniques. Even these limited prior works used cross-sectional techniques rather than the long-run, time-series, analysis used in this study. Moreover, dynamic analysis in the CMR has tended to focus on indexes or portfolio data rather than using firm-specific case study data of the type modelled here. No prior research has taken this approach using Australian data. The results of this thesis indicated that an equilibrium correction relationship between market values and book values for firms listed on the Australian Stock Exchange (ASX) could be determined by using accounting and macroeconomic regressors. The findings of the thesis were consistent with the literature in terms of the variables suggested and important in the firm's valuation from the three main approaches, the analysts (industry) approach, the finance and accounting theory (textbook) approach and the CMR literature approach. The earnings, dividends and book value variables are significant in their relationships with the firm's market values. The models constructed were typically more informative and had an increased forecasting performance compared with the a priori models tested, based on theory and the literature.

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6

Suwardi, Eko. "Exploring the relationship between market values and accounting numbers of firms listed in an emerging market." Thesis, Queensland University of Technology, 2004. https://eprints.qut.edu.au/15986/1/Eko_Suwardi_Thesis.pdf.

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Studies of the relationship between market values and accounting numbers have long been a part of an established theme in capital markets research (CMR). These studies have taken various forms, most being conducted on a cross sectional basis, tied closely with the assumptions of equilibrium behaviour and efficient markets. Explanatory variables for market value have been dominated by firm-specific variables without incorporating macroeconomic variables. Recently, however, some studies have employed macroeconomic variables and dynamic specification in assessing the relationship between market values and accounting numbers (e.g. Bilson et al. 2001, Nissim and Penman, 2003, and Willett, 2003). The objective of this thesis is to investigate the nature of the relationship between share prices and accounting numbers on the Jakarta Stock Exchange for the period 1992-2002, using dynamic modelling principles in addition to the more usual cross sectional analysis. The approach to regression modelling (general-to-specific strategy)incorporated in this thesis relies less heavily than most CMR on prior economic theories of equilibrium behaviour. Apart from these novel aspects of approach and method, the study also provides valuable information about the emerging financial markets of Indonesia. The results of this thesis show that cointegration and the accompanying equilibrium correction relationship between market and book values for firms listed on the Jakarta Stock Exchange (JSX) can often be identified using accounting and macroeconomic regressors. The models are typically more informative, plausible and consistent than cross sectional models and are useful in interpreting the context in which the market to book relationship exists in Indonesia. A possibly surprising result is that in Indonesia, compared to similar models estimated using US data, the book value of net assets seems to have a stronger relationship with market value. This may be a function of the relative importance of financial statements as a source of information on the JSX.

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7

Suwardi, Eko. "Exploring the relationship between market values and accounting numbers of firms listed in an emerging market." Queensland University of Technology, 2004. http://eprints.qut.edu.au/15986/.

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Studies of the relationship between market values and accounting numbers have long been a part of an established theme in capital markets research (CMR). These studies have taken various forms, most being conducted on a cross sectional basis, tied closely with the assumptions of equilibrium behaviour and efficient markets. Explanatory variables for market value have been dominated by firm-specific variables without incorporating macroeconomic variables. Recently, however, some studies have employed macroeconomic variables and dynamic specification in assessing the relationship between market values and accounting numbers (e.g. Bilson et al. 2001, Nissim and Penman, 2003, and Willett, 2003). The objective of this thesis is to investigate the nature of the relationship between share prices and accounting numbers on the Jakarta Stock Exchange for the period 1992-2002, using dynamic modelling principles in addition to the more usual cross sectional analysis. The approach to regression modelling (general-to-specific strategy)incorporated in this thesis relies less heavily than most CMR on prior economic theories of equilibrium behaviour. Apart from these novel aspects of approach and method, the study also provides valuable information about the emerging financial markets of Indonesia. The results of this thesis show that cointegration and the accompanying equilibrium correction relationship between market and book values for firms listed on the Jakarta Stock Exchange (JSX) can often be identified using accounting and macroeconomic regressors. The models are typically more informative, plausible and consistent than cross sectional models and are useful in interpreting the context in which the market to book relationship exists in Indonesia. A possibly surprising result is that in Indonesia, compared to similar models estimated using US data, the book value of net assets seems to have a stronger relationship with market value. This may be a function of the relative importance of financial statements as a source of information on the JSX.

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Senthilnathan, Samithamby. "The role of the most recent prior period's price in value relevance studies : a thesis presented in partial fulfillment of the requirements for the degree of Doctor of Philosophy in Finance at Massey University, Palmerston North, New Zealand." Massey University, 2009. http://hdl.handle.net/10179/930.

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Numerous value relevance investigations use the Ohlson (1995) model to empirically explore the value relevance of accounting variables such as earnings and goodwill amortisation by employing equity price as the dependent variable, but do not incorporate the most recent prior period’s equity price as an additional explanatory variable. The Ohlson (1995) model and the efficient market literature indicate that, since share prices represent the present value of future permanent earnings in an efficient market, the most recent prior period’s equity price should be a crucial variable for explaining the current price in value relevance models. This thesis therefore outlines how the Ohlson (1995) model incorporates the most recent prior period’s price as a potentially important value relevant explanatory variable, and reformulates the Ohlson (1995) model to demonstrate how the empirical specification of value relevance regression models can be greatly improved by including the most recent prior period’s price as an additional explanatory variable. We revisit the Jennings, LeClere, and Thompson (2001) empirical specification used to study whether goodwill amortisation is value relevant and potentially informative with respect to future earnings to illustrate the improvement to the Ohlson (1995) value relevance model empirical specification. When the model specification is improved by including the most recent prior period’s price as an additional explanatory variable, trailing earnings are shown, using time series, cross-sectional, and returns-based analysis, to be at best marginally value relevant when empirically explaining share prices in value relevance regression models. The thesis also indicates that goodwill amortisation should not be deducted from earnings in accounting statements because the presence of goodwill amortisation is significantly positively (not negatively) related to equity prices. This effect is eliminated when the most recent prior period’s price is included as an additional explanatory variable in the regression analysis, thus indicating that goodwill amortisation information as well as trailing earnings information have already been incorporated into the most recent prior period’s price. The thesis further indicates that value relevance studies that use the Ohlson (1995) model should use, for econometric reasons, change in price or else returns, not the price level, as the dependent variable. When returns are used to test the value relevance of goodwill amortisation, firms that report positive goodwill amortization actually have higher subsequent returns, a result that could possibly be due to the fact that growing firms tend to possess goodwill when they use acquisitions to expand. Results obtained when using returns to test whether goodwill amortisation is value relevant therefore extend the existing literature, since the prevailing expectation in the accounting literature is that goodwill amortization either represents a reduction in the value of goodwill over time or is not value relevant.

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9

Horndahl, Hampus, David Petersson, and Gerhard sköldeholt. "Nedskrivning av Goodwill : Finns det skäl för företag att vara oroliga?" Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-96905.

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The purpose of this thesis is to determine if impairment of goodwill is a value relevant factor to the investors in the companies listed on the Stockholm Large Cap stock exchange. This paper focuses on the annual reports from the 100 largest companies listed on the exchange. The empirical model used is Capital Market Research and Market Based Accounting Research which is derived from Positive Accounting Theory. Capital Market Research and Market Based Accounting Research are based on critical assumptions made in the Efficient Market Hypothesis which is why it has its own section in the theoretical chapter. The theoretical chapter contains extensive information regarding the components of goodwill, its uses in accounting and how it is meant to be dealt with. The analysis connects our empirical findings with our empirical model in order to draw conclusions from the output gathered in Minitab. Our analysis shows that only small proportions of the large quantities of goodwill on the Swedish stock exchange are impaired on a yearly basis. We also find that impairment of goodwill does not have a significant impact on market value, however goodwill itself does. Investors either do not view impairment of goodwill as value relevant, or the impairment was known beforehand and was therefore reflected in the price of the stock. Goodwill is considered value relevant most likely due to investors viewing the preeminence of goodwill as a sign that the company will draw benefit from the underlying assets for years to come. We conclude that impairment of goodwill is not a value relevant factor to the investors in the Swedish stock exchange, but that goodwill, and increasing goodwill is. The paper ends with suggestions for further research.
Syftet med denna avhandling är att fastställa om nedskrivning av goodwill är en värderelevant faktor för investerarna på den svenska Large Cap-börsen. Denna avhandling fokuserar på årsredovisningarna från de 100 största bolagen som är noterade på denna börs. De empiriska modeller som används är kapitalmarknadsforskning och marknadsbaserad redovisningsforskning, vilka båda härstammar från positiv redovisningsteori. Kapitalmarknadsforskning och marknadsbaserad redovisningsforskning baseras på viktiga antagande gjorda i den effektiva marknadshypotesen, som har sitt egna avsnitt under teorikapitlet. Teorikapitlet innehåller omfattande information gällande komponenterna i goodwill, dess användning inom redovisning samt hanteringen av goodwill. Analysen kopplar samman våra empiriska fynd med vår empiriska modell i syfte att dra slutsatser kring resultaten som sammanställts från programmet Minitab. Vår analys visar att förhållandevis små mängder av de enorma goodwillposterna på den svenska Large cap-börsen skrivs ner på årlig basis. Vi finner också att nedskrivning av goodwill inte har någon väsentlig påverkan på bolagets marknadsvärde, vilket däremot goodwillposten i sig har. Antingen så ser inte investerarna nedskrivning av goodwill som värderelevant eller så var nedskrivningarna kända i förväg och således redan inräknade i aktiens pris. Att goodwill i sig är betraktat som värderelevant beror troligen på att investerarna ser innehavet av goodwill som ett tecken på att bolaget kommer dra nytta av dessa underliggande tillgångar under de kommande åren. Vi drar slutsatsen att nedskrivning av goodwill inte är en värderelevant faktor för investerarna på den svenska börsen, men däremot att goodwill och en ökning av goodwillposten är värderelevant. Uppsatsen avslutas med förslag till ytterligare forskning

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Frostå, Amanda, and Beatrice Bergander. "Goodwillnedskrivningarnas värderelevans: belägg från Storbritannien." Thesis, Högskolan i Gävle, Akademin för utbildning och ekonomi, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-16177.

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Syfte: Syftet med denna studie är att undersöka om det finns ett samband mellan redovisad nedskrivning av goodwill och börsvärdet hos företag noterade vid London Stock Exchange mellan 2009 och 2012. Inledning: EU införde 2005 en ny standard för koncernredovisning. Syftet med den nya redovisningsstandarden, IFRS 3, är att öka relevansen, pålitligheten och jämförbarheten i den finansiella rapporteringen. Detta medförde bland annat att posten goodwill inte längre får skrivas av enligt plan, utan årligen ska testas för eventuell nedskrivning. Metod: För att fylla studiens syfte har vi använt oss av en kvantitativ undersökning, där relevant data har samlats in via marknadsdata och analysverktyget Bloomberg. Studien genomfördes på de största företagen registrerade på London Stock Exchange med undantag för de företag som inte hade den data som krävdes för att vara relevanta för studiens syfte. Svaren analyserades genom multipel regressionsanalys samt deskriptiv statistik framställda i statistikverktyget Minitab. Slutsats: Undersökningen visade att det finns ett statistiskt signifikant negativt samband mellan nedskrivning av goodwill och börsvärde. Detta tyder på att investerare anser att en nedskrivning av goodwill är ett tecken på att börsvärdet försämrats. Resultatet kan tolkas som att investerare litar på företagsledningens förmåga att värdera goodwillpostens storlek.
Purpose: The purpose of this study is to investigate if there is a correlation between reported goodwill impairment and market value for companies listed on the London Stock Exchange between the years 2009 and 2012. Introduction: A new accounting standard was introduced in the EU in 2005, which meant a new standard for mergers. The goal of the new accounting standard, IFRS 3, is to increase the relevance, reliability and comparability in financial reporting. This resulted in a change where goodwill no longer will be amortized, but tested annually for impairment. Method: To fulfil the purpose of this study, we used a quantitative method where secondary data was collected from the market data and analyst tool Bloomberg. The study was conducted on the largest companies listed on the London Stock Exchange, except for the firms that did not have the data relevant for the purpose of the study. The responses were analysed by multiple regression analysis and descriptive statistics analysis, both produced by the statistical software Minitab. Conclusion: The findings indicate a statistical significant correlation between the impairment of goodwill and decrease in share price. This suggests that investors believe that goodwill impairment is indicative of a decrease in expected present value of future returns, i.e. decrease in share price. The result can be interpreted as evidence that investors rely on the corporate management's ability to value the firm’s goodwill.

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(9780605), Md Khokan Bepari. "Value relevance of accounting information during a financial crisis: An empirical analysis of Australian companies." Thesis, 2012. https://figshare.com/articles/thesis/Value_relevance_of_accounting_information_during_a_financial_crisis_An_empirical_analysis_of_Australian_companies/13465460.

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"This thesis extends value relevance research by examining the changes in the value relevance of fundamental accounting measures in the unique context of a global financial crisis (GFC). This thesis examines the impact of the 2008-2009 GFC on the value relevance of book value of equity, earnings and cash flow from operations (CFO). It also examines the impact of the GFC on the value relevance of tangible assets, intangible assets and goodwill. ... This thesis is positioned into the CMR in Accounting. Positivist epistemology and objective ontology underpin the philosophical backgrounds of this thesis"--Abstract.

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Chen, Yu-Fang, and 陳玉芳. "An Empirical Research on IFRS Value Relevance." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/61919197248028017175.

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碩士
國立臺灣大學
會計學研究所
98
Financial statements based on IFRS as principle-based and fair-value-accounting-oriented are expected to more reflect the real economics and financial positions of the firms, and to reach higher relevance and reliability. This research compares value relevance of financial statements based on IFRS with those based on People''s Republic of China Accounting Standards (domestic accounting standards) using a sample of listed firms issuing A-shares and B-shares on China’s Shanghai Exchanges and Shenzhen Exchanges. IFRS was of mandatory adoption for all listed firms since 2007 on Shanghai and Shenzhen Exchanges, and firms issuing B-shares published financial statements under both these two standards before 2006. The results show that earnings are of more value relevance to stock price, return, and good news under IFRS; earnings are of no more value relevance to bad news under IFRS. At B-shares market, earnings are of no more value relevance to stock price, return, good news, and bad news under IFRS before 2006. The results also show that, after mandatory adoption in 2007, earnings have significantly higher relation to stock price than book value of equity, and price-deflated earnings are significantly related to return under IFRS. Good news are more truly reflected on price-deflated earnings under IFRS, but bad news are not more truly reflected on price-deflated earnings under IFRS after mandatory adoption in 2007. Taken together, the findings suggest that IFRS is superior to China’s domestic accounting standards.

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Chen, hsin min, and 陳欣敏. "The Effect of Insider Trading on Value Relevance of Research and Development Expenditures." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/70190398547063798870.

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碩士
東海大學
會計學系
101
This study examines the association between insider trading and the relevance value of research and development expenditures (R&D). The future economic benefits of R&D are highly uncertain and only the amounts expensed during the period are disclosed in the company’s financial statement. Prior studies show that insider trading not only conveys private information to outsiders, but also serves as a leading indicator of the reliability of voluntary disclosure. Therefore, this study investigates whether insider trading during the fiscal year improve the relevance value of R&D. This study uses the data of insider trading and R&D from 2004 to 2012 in Taiwan. To investigate the effect of insider trading on the relevance value of R&D, both stock price model and stock return model are used. In addition, the stock price is the year-end stock price and the stock return is the market adjusted buy and hold returns. The results show that insider trading has a positive effect on the value relevance of R&D. Furthermore, by categorizing insider trading into buying and selling, the results show that insider buying have incremental positive effect on the value relevance of R&D, compared to insider selling. Overall, the results show that insider trading reveal insiders’ private information, enhancing the value relevance of R&D.

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Oswald, Dennis Ray. "The determinants and value relevance of the choice of accounting for research and development expenditures in the United Kingdom /." 2000. http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&res_dat=xri:pqdiss&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertation&rft_dat=xri:pqdiss:9959108.

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Cnao, Kuo Kai, and 郭鎧肇. "Relationship marketing, service quality,customer satisfaction and customer value on the relevance of Customer Lifetime Value - A dealer in Taiwan as the research object margarine." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/83960525569439204774.

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碩士
南台科技大學
高階主管企管碩士班
98
Since 2008 world into an unprecedented financial tsunami Holocaust, the United States, European Union had led, breaking the world economic order, but also upset the world financial system, so that environment will again re-shuffle This scourge of human boomerang, deep impact on the survival of each country, a more serious impact on the livelihood of every family, the unemployment rate rising, soaring raw materials wantonly, so this wave of financial tsunami Under the catastrophe were badly hit. This study investigated the dealer to margarine to "relationship marketing, service quality, customer satisfaction and customer lifetime value to the value relevance of" systems used questionnaires issued 56 questionnaires, 53 questionnaires were removed invalid Questionnaire 1, a total of 52 valid questionnaires, response rate was 92.9%, and using Windows SPSS statistics software for statistical analysis tool, the sample factor analysis, t test, ANOVA analysis, correlation analysis, regression analysis, hierarchical regression analysis, cluster analysis, path analysis, analysis of findings: 1. This study of different personal characteristics margarine dealers variables on relationship marketing, service quality, customer value, customer satisfaction and customer lifetime value has significant impact on the cognitive part. 2. Different personal variables margarine Dealers (gender and marital status, gender and position, the number of employees and level of education, marriage and jobs, capital and level of education, education, and business turnover, the region) on the relationship marketing , service quality, customer value, customer satisfaction and customer lifetime value differences arising from the case, ANOVA analysis of variance to compare the variables of the main effects and interactions, not significant. 3. In this study, margarine dealers on relationship marketing, service quality, customer value, customer satisfaction and customer lifetime value of the variables was significant correlation between. 4. Margarine distributor on relationship marketing, service quality, customer value, customer satisfaction and customer lifetime value of the variables between the most significant positive effect. 5. Different clusters margarine dealers on relationship marketing, service quality, customer value, customer satisfaction and customer lifetime value of the cognitive variables, significant differences between the sex. Based on the above findings, this study provides suggestions for margarine industry as a business development marketing methods and reference for future research.

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Qiu, Yi-Ting, and 邱翊婷. "Research on the Value-Relevance of Auditor Rotation --A Case Study of the Companies in Taiwan and Mainland China." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/2zy5wm.

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碩士
南臺科技大學
會計資訊系
106
Because of the Enron fraud and the accounting corruption afterwards, in addition to Sarbanes-Oxley Act in America, Taiwan issued a requirement for auditor rotation expected to promote auditor independence in 2009. The purpose of this study is to explore the effect of the Auditor tenure on the accounting information in the view of the investor. This study uses Taiwan and China Listed companies sample firms during 2010-2017. I use Ohlson model in the paper, all data is collected from Taiwan Economic Journal (TEJ). After deleting missing values, there are 9,857 observations in Taiwan, and 17,446 observations in China. The empirical results show that Taiwan investors doubt about EPS and BV audited by CPA with long tenure. However, China investors put more trust in BV by CPA with long tenure. However, there’s no significant result in EPS in China. It shows the different perspectives between Taiwan and China about the auditor tenure.

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Liao, Tzu-Ya, and 廖姿雅. "Relevance Research between Service Guarantee and Perceived Risk, Perceived Value, and Purchase Intention - Illustrated by the Comparison between General Hotels and Tourist Hotels." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/52627735826513571320.

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碩士
南台科技大學
行銷與流通管理系
97
In current environment, consumers are going to pay more attention on tour quality. The most important issue in the competitive hotel industry is how to provide the best service guarantee and consumption environment is. Using different sectors of the hotel industry, the research verifies the significant impact between service guarantee and consumer willingness in different sectors. The study uses questionnaires to investigate consumer’s behavior in general and tourist hotels. The effective samples are 240 and the return rate is 93%. The study analyzes data using statistical software, such as factor analysis, reliability and validity analysis, analysis of variance, and analysis of linear structural model (LISREL). The study evaluates the impact and relation between service guarantee and perceived risk, perceived value, and Purchase Intention. The study’s results are: 1. Service guarantee can effectively increase perceived value and decrease the impact of decision errors. 2. Service guarantee from general hotels can increase consumer's perceived value and effectively reduce perceived risk in consumption more than tourist hotels. 3. If hotel managers provide service guarantee, consumer's perceived value and willingness will show positive relationship. Keywords: Service Guarantee, Perceived Value, Perceived Risk, Purchase Intention.

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Chung-Hsin, Lin, and 林中興. "The relevance research of the stock price and its variety of Economic Value Added（EVA）of an Electronic company under contract manufacturing - A Case Study of Foxconn and QuantaAbstract." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/58234155205646156197.

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碩士
輔仁大學
科技管理學程碩士在職專班
95
EVA is the difference between a company’s net operating profits after taxes and its cost of invested capital. Many leading international enterprises have been widely paying attention to EVA and adopted it. This study is to calculate Quanta’s and Foxconn’s EVA by means of equity adjustment for accounting principle and to list the relevance between stock prices, MVA and EVA. By EVA variation, moreover, this paper also discusses the performance under different contract manufacturing model. The conclusion of this study are listed as followings, 1. Foxconn and Quanta’s EVA performance measures in explanation stock prices and MVA is superior to traditionally financial measures, such as EPS and ROE. 2. EPS, ROE joined with EVA make out an enhancement in explanation abilities for stock prices and MVA. While in evaluating of financial statements, will improve the credibility of financial statement with considering EVA performance measures simultaneously. 3. By stepwise regression test, contemporary EVA has closer correlation with the contemporary stock prices, and EVA has no forecasting ability for stock prices. 4. The contents analysis for EVA, Foxconn’s global deployment strategies are in operating and combine with eCMMS model. Its performances are highly superior to Quanta which develop mainly with the ODM. Quanta, however performs a forward-looking SSDMM model in order to intend out of market competition. It is worth in coming future to approach a result.

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Dissertations / Theses on the topic 'Value relevance research (VRR)'

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