第五章 研究結論與建議
第二節 研究建議與限制
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第二節 研究建議與限制
本研究參考先前研究問題，並以探討法人說明會之資訊內涵為主軸，期望能 更了解管理階層召開法人說明會對資金成本之影響。一方面可以補足我國對於法 人說明會資訊內涵研究不足之處；另一方面從經濟效果著手，檢視其內涵對於權 益資金成本與債權資金成本之影響，並提供管理階層召開法人說明會其資訊發佈 之探討，亦對未來研究提出下列建議：
1. 本研究樣本集中在高科技產業，故在自變數之專利與研究發展較看不出顯著 性，未來可從其他產業切入，以便相互比較。
2. 由於資料蒐集較困難，故本研究只採三年之樣本。建議可採取其他取樣方法 如有效率編碼方式蒐集資料，以擴大樣本期間，擴大樣本數。
3. 應變數部分，衡量權益資金成本時，除了 OJ 模型外，尚有其他模型如 GLS 模型、MPEG 模式可作參考；而衡量債權資金成本部分，也可考量從公司債 殖利率去計算。
4. 其他控制變數的部分，除了本研究列出的公司規模、公司槓桿、銷貨成長率、
盈餘偏差率以外，可探討是否還存在其他關鍵公司特性之因素。
最後，本研究有以下幾項限制：
1. 本研究樣本除取自聯合知識庫與臺灣經濟新報社資料庫外，亦盡力搜尋網路 上其他相關新聞資訊，但可能上述資料之正確性及完整度仍有遺漏或錯誤 者，將可能影響本研究之實證效果。
2. 由於樣本資訊分類為逐筆由作者判斷，雖有建立關鍵字之標準，但仍然可能 涉及主觀判斷之部分，將可能影響樣本之分類。
3. 公司由證券商或其他法人機構邀請，或是在國外召開法人說明會等資訊因為 難以取得而排除，無法更進一步檢視其資訊內涵對資金成本之影響。
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