走在馬路上、打開電視機，亦或是透過報章雜誌隨處可見各式各樣的商品廣告。究竟市場行銷活動對公司有何益處？為何公司的決策者愈來愈重視利用各種方式來提高品牌能見度？有鑑於此，本研究透過檢視品牌能見度與財務績效的關係，探討行銷策略對財務面的影響。

本研究利用線性結構關係模型(LISREL, Linear Structure Relation Model)來探討品牌能見度及財務績效等無法被觀察的潛伏變數之間的關係。實證結果顯示，公司可以利用廣告行銷及提昇市場佔有率來提升品牌能見度，此舉亦將提高財務績效。除此之外，本研究更顯示資本市場流動性對財務績效有顯著的「完全中介效果」(Full mediation)。

對投資人而言，本篇研究可以帶給他們不同的觀念，了解到品牌能見度對財務績效的影響後，讓行銷資訊也能成為投資人做決策時依據的指標之一；對管理者而言，本篇論文帶來的管理意涵，將有助經理人了解行銷的真正價值，以及行銷對財務績效的貢獻。如此一來，將可更清楚掌握行銷財務間的相互影響，以達到最大化股東價值的目標，這也是本篇論文最大的貢獻所在。

Advertising is everywhere. But what are the benefits of marketing for company? Why do most managers start to use variety of marketing strategies to promote the visibility of brand? This study will explore the relationship between the visibility of brand and the financial performance, and to discuss the effect of market strategy on financial performance.
This study mainly uses Linear Structure Relation Model (LISREL) to explore the relationship between the latent variables of brand visibility and financial performance. As a result, the study result demonstrates that company can take advantages of adverting and increased market shares to raise the visibility of brand, which will also improve the financial performance. In addition, this study also finds that the capital market liquidity has significant “Full mediation” to financial performance.
For investors, this study can bring them the different ideas about the effect of brand visibility to the financial performance. Marketing information can become an important indicator for investors to make decision. For managers, they can realize the real value of marketing and the contribution of marketing to financial performance from this study. Therefore, we can understand the relationship between marketing and the finance to reach the goal of maximum shareholder’s value.

第一章 緒論 1
第一節 研究動機 1
第二節 研究目的 4
第三節 研究架構及流程 5
第二章 文獻探討 6
第一節 品牌能見度與財務績效的關係 6
第二節 品牌能見度與資本市場流動性的關係 9
第三節 資本市場流動性與財務績效的關係 12
第四節 品牌能見度與資本市場流動性及財務績效的關係 13
第三章 研究設計 15
第一節 研究假說 15
第二節 研究模型 16
第三節 研究變數之測量 21
第四節 樣本及資料來源 23
第四章 實證結果與分析 24
第一節 敘述統計 24
第二節 潛伏變數之因素驗證 26
第三節 假說檢定 29
第四節 實證結果彙總 34
第五章 結論與建議 35
第一節 研究結論 35
第二節 研究限制 36
第三節 未來研究建議 36
附錄 38
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