半导体产业经营绩效之探究.docVIP

半導體產業經營績效之研究 －以國內上市櫃公司為例 林德明 德明技術學院會計系講師 摘 要 本研究係以半導體產業上市櫃公司為研究對象，使用民國八十五年至八十九年的二十八項財務比率來建立經研績效之評估模式，並以民國九十年的財務資料為預測樣本，該模式可作為投資人、銀行授信與公司管理當局評估經營績效的一項參考依據。實證結果顯示： 經由因素分析可萃取出三個評估基準來衡量公司之經營績效，此評估基準分別為獲利能力因素、資產結構因素及經營成長能力因素，三個因素總解釋變異能力達86.423%。 建立經營績效之區別模式，該模式包括三項變數，其原始資料正確區別率為97.3%，預測樣本正確區別率為88.57%。 關鍵字：半導體產業、經營績效 A Study of Operating Performance of Semiconductor Industry： The Case of Publicly Listed Companies in Taiwan Tak-Ming Lin Lecturer, Dept. of Accounting, Takming College Abstract This research objects are publicly listed semiconductor industry companies. The model of operating performance to evaluate publicly listed semiconductor industry companies where set up based on the twenty-eight financial ratios from 1996 to 2000. A predicted result was derived from 2001 financial information. This model can be used as a survey reference for investors, bankers and company’s management teams. A brief summary of the major findings are given below： Three evaluative criteria can be extracted via factor analysis to evaluate operating performance of companies. The basis of evaluative criteria is capability of earning profit, criterion of asset structure, and capability of operating growth. These three criteria can explain 86.423% of total variance. The discriminated model of operating performance evaluation was set up and included three variables. 97.3% raw data can be exactly discriminated by this model, and also 88.57% predicted result could be exactly discriminated too. Keywords：Semiconductor Industry；Operating Performance 緒論 就以我國資訊電子產業經營核心重鎮－新竹科學園區為例，歷年來區內所有廠商對資訊電子產業的貢獻，無論在產值、資本支出等各方面均高居全國第一位，其中半導體產業更是居於區內所有產業的核心地位（表1）；半導體產業的重要性不言可喻。 表1 九十年度新竹科學園區產業概況 產 業 別 就業人數 實收資本額 營業額(1~12月) 積體電路 58,518 6,254 3,768 電腦及周邊 13,363 994 1,611 通訊 6,753 307 561 光電 16,713 307 624 精密機械 843 977 48 生物科技 712 27 13 合 計 96,362 31 6,625 單位：新台幣億元/人 資料來源：新竹科學園區管理局 文獻探討 一、經營績效之定義 績效二字不同科學的學者曾就其個別領域的觀點提出許多不同的看法。概括而言，可將其分為兩類： 財務性分析（Financial Analysis） 係自會