英文摘要 |
This study focuses on the study of the semiconductor industry in the knowledge-based enterprises in the OTC market during the period from 2010 to 2014 after the financial turmoil. The research on the R & D budget investment as the start-up knowledge In the process of a starting point and the impact on the performance of manufacturers, and to explore when the investment in R & D investment with a deferred effect on the impact of manufacturers business performance. However, the research and development of the concept of deferred effect into the model, the manufacturers operating performance and R & D intensity showed a positive correlation, the current R & D spending increased on the next business performance has a positive and positive impact, Taiwan semiconductor manufacturers look forward to R & D To the positive effect is necessary to have a waiting period. In this study, the GMM estimation method can be used to effectively avoid the endogenous problems caused by the dynamic factors in the model, and the dynamic changes of the model can be explained more appropriately. |