論文提要內容：
本文引用臺灣地區生產與製造機器人相關產品的59家企業廠商為樣本，蒐集其2008~2017年間的財務報表縱橫資料，引用普遍為計量經濟學家採用的投資方程式，進行實證估計，試圖了解影響其投資行為的因素。實證研究結果發現下列二點重要結果：
1.	現金流量與新增債務兩項因素對廠商的投資決策具有顯著的影響，二者的影響為正向，完全符合投資理論之預期。財務槓桿對投資的影響雖為正向，惟並不具有統計上的顯著性。
2.	近三年來，各變數對企業投資活動影響的改變雖然略有改善，惟皆不明顯，因此其投資行為並未發生重大改變。
最後，Tobin’s q 對投資的影響為不顯著的負值，因此股市榮枯對企業投資的影響並不明顯。

Abstract
This thesis empirically uses sample panel data from 59 manufacturing robot and related products firmsin Taiwancovering the period between 2010 and 2016 to estimate the econometric investment equation in attempting to uncover the factors that have affected their investment behavior. Important findings are as follows:
1.Among the five variables used in the estimation thecash flows and the newly created debts played significant roles in affecting business investment decisions and their effects are positive as predicted by the theories. The financial leverages has positive but insignificant effects. 
2.In the most recent three years the investment behavior have changed toward favorable direction, However, the changes are not statistically significant, showing that investment decision making have not changed. 
Finally, Tobin’s q does not affect investment decisions significantly.

目錄
第一章   緒論	1
第一節	研究動機	1
第二節	機器人產業發展現況	3
第三節    本文研究架構	8
第二章文獻回顧	9
第一節    企業廠商投資行為總論	9
第二節    投資資金融通問題	11
第三節    實證研究與結果	15
第三章研究方法	19
第一節    實證投資方程式設定	19
第二節    縱橫資料模型估計	20
第三節    影響近年企業投資之因素衡量	22
第四章實證估計結果	24
第一節    資料來源與敘述分析	24
第二節    基本模型估計結果	27
第三節    各解釋變數貢獻度分析	29
第五章結論	33
參考資料	34

表目錄
表一 智慧型機器人產業的發展與應用策略……………….………..……...………5
表二 資料名稱與來源……………….…………………………………..………….24
表三 敘述統計……………….……………………….……………………..………25
表四 基本模型估計結果……………….……………………….……..……………28
表五 OLS模型下延伸基本模型的估計結果………………….…………………..30
表六 近三年四種解釋變數對投資比貢獻度分析……………...………………….31

圖目錄
圖一 2009~2017 年全球工業機器人銷售情況………………….………………….1
圖二 相關產業國內生產毛額(新台幣:億元) ………………….……………….3
圖三 2008~2017年間59家公司之投資比………………….…………………..26

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