本研究旨在探討台灣高科技產業之上市上櫃公司，產業內市占率高低與投資研發活動之關聯，藉以瞭解產業內市占率是否是攸關企業採取短視管理之誘因。過去文獻指出，獨占力強之大規模企業缺乏投資創新活動之動機（Arrow 1962），處於競爭市場中之小規模企業則無資源可投入技術創新（Schumpeter 1942）。本研究根據Scherer（1965）與Demsetz（1969）提出之市場結構與技術創新倒U型理論。檢測產業市占率偏高或偏低之企業，在面臨短期績效壓力，是否較有短視研發投資行為，此外，由於研發投資關係著企業賴以長期發展之競爭力，本研究進一步檢視當企業存在短視誘因時，是否會考慮未來成長性，而承擔創新帶來的風險。本研究採用國科會對高科技產業的定義，以2002年至2009年台灣上市上櫃公司作為研究對象，自TEJ一般產業資料庫取得各年度公司之財務數據。本研究利用Zang（2007）與Berger（1993）的研發費用預測模型來衡量企業可裁減研發費用，並據此衡量短視研發費用；此外，參酌Bushee（1998）樣本分群標準，區分次樣本，檢測不同盈餘特徵，企業市占率之高低對短視研發投資的影響。實證結果顯示，高市占率公司盈餘愈衰退愈會短視研發，但企業未來具有成長機會時，則會抑制短視行為；另一方面，低市占率公司面臨盈餘小幅度衰退會發生短視研發行為，衰退幅度過大時則否。本研究發現相較於市占率居中之企業，市占率偏高或偏低之公司面臨盈餘小幅衰退時會藉由短視研發行為以達成盈餘成長目標，此亦與過去相關研究(Degeorge, Patel and Zeckhauser 1999)指出為達盈餘成長之門檻可能進行盈餘管理之觀點一致。而高市占率企業盈餘愈衰退愈會短視研發之關係只存在非長期績效衰退之企業以及非集中市場之企業。 This study refers to market share associated with the R&D incentives in Taiwan’s high-tech industry and to understand whether the level of market share within the industry is relevant to myopic management. This study uses companies listed in the stock exchange of Taiwan from 2002 to 2009. We used the Zang（2007）R&D model to predict normal level of R&D investment. According to Bushee（1998）sample clustering approach which inspected the different features of earnings when the level of market share within the industry is relevant to myopic R&D investment.The empirical results shows: (1) when market share is high, there is a positive association when the company’s earnings decline and myopic R&D investment (2) companies with lower market share may reduce R&D expenditures when it faces small decline in earnings, but when it faces large decline in earnings, these companies may not reduce R&D expenditures. In conclusion, in order to meet its earning’s goal, there is a higher possibility of myopic R&D investment in companies with higher and lower market share when it faces small decline in earnings.
