被投資國家競爭力與企業績效之研究

本研究以2008年至2012年台灣電子業上市公司為研究對象，以世界經濟論壇（WEF）之國家競爭力指標衡量企業國際化過程中被投資國家競爭力，補充過去文獻及研究方法不足之處，以全面檢測被投資國家競爭力與企業績效之關係。研究結果主要發現，被投資國家之總體競爭力對於投資企業的經營效率、創新績效及企業價值皆有正向影響。此外，實證結果也發現被投資國家基礎面的競爭力有助於企業的經營效率；被投資國家的效率面與創新面競爭力有助於企業的創新績效以及企業整體價值的提升。整體而言，被投資國家與企業之間彼此存在高度的相互依賴關係，被投資國家競爭力在動態競爭環境下成為企業發展的競爭優勢來源。

Using data from 2008 to 2012 provided by Taiwan’s listed companies within the electronics industry, this studyaims toexamine the relationship between national competitiveness of investeecountries and firm performance. It supplements prior literature and research methods by employingtheWorld Economic Forum (WEF) global competitiveness index as the measure of investee countrycompetitiveness. Thestudy findings indicatethat overall competitiveness of the investeecountryhas a positive impact on operating efficiency, innovation performance, and firm value of acompany. In addition, empirical resultsindicatethatfundamentalcompetitiveness of the investeecountry is beneficialto company’s operationalefficiency. In terms of both efficiency and innovation,the investeecountrycompetitiveness alsoenhances a firm’sinnovation performance and overallcompanyvalue.In conclusion,thereexists a higherdegree of interdependence betweencompany firms andinvesteecountries,with the investee country competitivenessbecomingthefountainheadof competitiveedge for firm development.