本研究以我國上市櫃公司西元1999年至2018年為樣本期間，探討特定產業與現金股利之關聯性，以及公司虧損對於上述關聯性之影響，特定產業係針對家族企業和電子業。本研究結果發現家族企業較傾向將盈餘保留於公司而非發放現金股利，電子業則較傾向發放現金股利。由於公司經營虧損普遍會降低公司發放現金股利之意願，本研究預期家族企業和電子業發生虧損時，將傾向減少發放現金股利。

In use of sample firms trading on the Taiwan or Taipei Stock Exchange Market from 1999 to 2018, this study investigates the relationship between cash dividends and specific industries aiming at family business and electronics industry. The results show that family firms prefer keeping their earnings to paying cash dividends while firms in electronics industry are more inclined to pay cash dividends. Since losses generally reduce the willingness of firms to pay cash dividends, this study expects both family and electronic firms are inclined to decrease dividends when incurring losses. The empirical results are consistent with the expectations.

論文審定書 i
誌謝 ii
中文摘要 iii
Abstract iv
圖次 vii
表次 vii
第一章 緒論 1
第一節 研究動機 1
第二節 研究目的與貢獻 1
第三節 研究架構與流程 2
第二章 文獻探討與假說建立 4
第一節 台灣股利政策之制定 4
第二節 股利政策之相關理論 5
第三節 家族企業相關文獻及假說建立 7
第四節 電子業相關文獻及假說建立 9
第五節 虧損相關文獻及假說建立 10
第三章 研究設計 11
第一節 變數衡量 11
第二節 實證模型 14
第三節 研究期間及資料來源 15
第四章 實證結果與分析 16
第一節 敘述性統計與相關係數分析 16
第二節 多元迴歸分析 20
第三節 敏感性分析 28
第五章 結論與建議 40
第一節 研究結論 40
第二節 研究限制 40
第三節 研究建議 41
參考文獻 42
中文參考文獻 42
英文參考文獻 43

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