Research on Relationship between Disclosure of Important Information and Investor Relations of Biotechnology Stock Companies

本研究的目的是要瞭解台灣上市生技公司揭露重大訊息與投資人關係的現況，進而分析並討論不同個人背景變項在揭露重大訊息與投資人關係上之差異情形，以及揭露重大訊息與投資人關係之相關情形，最後探討揭露重大訊息與投資人關係之預測情形。本研究係採立意抽樣方式進行問卷調查，正式問卷施測共計發出500份，有效問卷為325份。本研究將所搜集的資料分別以描述統計分析、單因數變異數分析、皮爾森積差相關和多元逐步回歸分析等進行資料分析處理。 從本研究之資料分析中獲得下列結論： 一、投資人對整體揭露重大訊息與整體投資人關係的看法均介於中上程度的水準。 二、不同背景變項的投資人所覺知之揭露重大訊息在「婚姻狀況」、「年齡」、「教育程度」和「投資年資」上具有顯著差異。 三、不同背景變項的投資人所覺知之投資人關係在「性別」、「年齡」、「教育程度」和「投資年資」上具有顯著差異。 四、台灣上市生技公司揭露重大訊息各構面與投資人關係各構面均呈正相關，且均達顯著差異水準。 五、揭露重大訊息與投資人關係間達顯著相關，且揭露重大訊息各向度對投資人關係具有中等程度的預測力。 最後依據研究過程與結論，提出具體建議，作為投資人、上市生技公司以及未來研究者的參考。The purpose of this research is to understand the current status of the disclosure of important information and investor relations of the biotechnology stock companies, and then analyze and discuss the difference of different personal background variables on the disclosure of important information and investor relations, and the correlation between the disclosure of important information and investor relations, and finally discusses the prediction status of the disclosure of important information towards the investor relations. This research adopts questionnaire sampling, and 500 pcs of formal questionnaires were issued, so that 325 pcs were valid. Besides, this research carries out information analysis on the collected material through descriptive statistics, one-way analysis of variance, Pearson product-moment correlation, multiple stepwise regression analysis, etc. From the information analysis on this research, the following conclusion can be achieved: 1.The biotechnology stock investor’s perspective on the whole disclosure of important information and investor relations is above the average level. 2.The disclosure of important information perceives by the biotechnology stock investor with different background variables has remarkable difference on marital status, age, education background, and annual salary. 3.The investor relations perceive by the biotechnology stock investor with different background variables has remarkable difference on gender, age, education background, and annual salary. 4.Each perspective of the disclosure of important information and investor relations of the biotechnology stock investors presents positive correlation, and reaches the level of obvious difference. 5.The correlation between the disclosure of important information and investor relations is remarkable, and each dimension of the disclosure of important information has medium degree of predictive power towards the investor relations. Finally, according to the research process and conclusion, it puts forward specific suggestions as the reference for the competent authorities and biotechnology stock investors, and future researchers