台灣的產業結構主要以中小企業為主，而中小企業的經營又和家族成員息息相關，另外在科技快速發展下，如何創新成為企業間重要的課題，因此本研究之目的是以家族企業為例，探討研發費用支出對於企業經營績效的影響，以及有何因素會影響其之間的關係。
研究樣本以2008年到2015年台灣414家上市上櫃公司共13,248筆資料，採用縱橫斷面資料之固定效果OLS模型來驗證結果。實證結果發現研發費用支出對企業經營績效有負向影響，外部董監事席次比率會增強研發費用支出對企業經營績效的效果，而偏離程度則是會減弱研發費用支出對企業經營績效的效果，另外研發費用支出和景氣循環的關係呈負相關。

The industrial framework in Taiwan primarily consists of many small and medium sized enterprises. Small and medium sized enterprises are closely related to family members. Technology has advanced with years, and how to innovate becoming a problem to enterprises.
This paper empirically examines the relationship between R&D expenditure and family-controlled firms’ performance, and what kind of factors will influence the relationship.
The sample consists of 414 listed firms in Taiwan from 2008 to 2015 and use fixed effect in panel data regression to analyze. These results indicate that the relationship between R&D expenditure and family-controlled firms’ performance is negative. The higher proportion of outside directors tends to enhance the relationship but the separation of control and ownership does otherwise. In addition, the relationship between business cycle and R&D expenditure is negative.

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