本研究以世界品牌研究室(World Brand Lab)發布的中國 500 最具價值企業榜單前 100 強企業為樣本。探討品牌價值對企業財務績效的影響。企業績效數據 取自國泰安數據庫。最終樣本計 234 個觀察值。本研究以迴歸分析法來探討品牌 價值對企業財務績效的影響。

本研究實證結果如下:首先，品牌價值對企業績效之間存在正向影響。品牌 價值每提高 1%，企業績效會提高2.03%。然而，品牌價值達到 1408.10 億人民幣 後，品牌價值對企業績效的正向影響便開始減弱，即邊際效益遞減。最終，品牌 價值對品牌價值高於樣本平均值的企業帶來的正向影響會更強。品牌價值每提高 1%，對品牌價值高於樣本平均值的企業帶來的正向影響會比品牌價值低於樣本平 均值的企業多 1.21%。

This study uses the top 100 companies on the list of China’s 500 most valuable companies released by the World Brand Lab to explore the relationship between brand equity and corporate financial performance. Financial data are from Guotaian database. The final data set comprises 234 observations. This study uses regression analysis to examine the impact of brand equity on corporate financial performance.

The results of this study are listed as follows: first, brand equity has positive impact of on corporate performance. Brand equity increases 1%, the corporate financial performance will enhance 2.03%. However, after brand equity reaching 140.81 billion RMB, the positive impact will decrease consists with the law of diminishing marginal utility. Second, the stronger positive impact of brand equity on companies with brand equity above sample mean. Brand equity increases 1%, the positive impact on firms with brand equity above sample mean will be 1.21% more than companies with brand equity below sample average.

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