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35
臺大管理論叢
2017/6
第
27
卷 第
2
期
35-56
DOI:10.6226/NTUMR.2017.JUL.A102-029
銀行業資訊科技支出之價值攸關性
Valuation Implication of Information Technology Expenditures in
the Banking Industry
摘 要
現存文獻鮮少發現資訊科技支出對銀行業的正面效益，然不少銀行業公司卻仍舊維持
高額的資訊科技支出，並明確指稱資訊科技支出有助於維持及擴展長期之客戶關係或
營運品質。運用
Ohlson (1995)
模型，本研究結果指出：
(1)
資訊科技支出顯著且正向地
影響銀行的市場價值，即資訊科技支出具有價值攸關性。
(2)
銀行的資訊科技支出水準
對於盈餘乘數有正向的影響，亦即可提升盈餘持續性。本研究的貢獻為：
(1)
提供過去
文獻未直接發現的資訊科技支出對銀行業價值攸關性之正面證據。
(2)
藉由瞭解資訊科
技支出在改善盈餘持續性上的角色，使管理階層的決策品質進一步提升。
【關鍵字】
資訊科技、價值攸關性、盈餘持續性
Abstract
Information technology (IT) expenditure has been regarded as critical in maintaining the
competitiveness in the banking industry. However, existing literatures fail to document
consistent evidence on the positive effect of IT expenditures on banks’ productivity
measures. This study is among the few that explore the valuation implication of IT
expenditures based on U.S. banks. By utilizing the Ohlson (1995) model, our results indicate
that: (1) IT expenditures are significantly and positively related to market values, suggesting
that they are value-relevant; (2) IT intensity has positive impacts on earnings’ multipliers
(i.e., the persistence of earnings). Overall, this paper contributes to the literature by
demonstrating the value relevance of IT expenditures for banks, an issue that few prior
studies have addressed. Additionally, the quality of the management’s decision-making is
enhanced by ascertaining the critical role of IT expenditures in improving the earnings’
persistence.
【
Keywords
】
information technology, value relevance, earnings’ persistence
廖懿屏
/
銘傳大學會計學系副教授
Yi-Ping Liao
, Associate Professor, Department of Accounting, Ming Chuan University
李德冠
/
中原大學會計學系助理教授
Te-Kuan Lee
, Assistant Professor, Department of Accounting, Chung Yuan Christian University
Received, 2013/6, Final revision received 2014/7