應用共同邊界資料包絡分析法探討上市櫃半導體企業之績效

A Study of the Evaluated Performance on Taiwan's Semiconductor Industry-Applying Meta-Frontier DEA Approach

李東杰(Tung-Chieh Lee) ； 林宏樹(Hongji-Shu Lin)

《管理研究學報》 15卷1期 (2015/06) Pp. 1-33

https://doi.org/10.6626/MR.2015.15(1).01

摘要

本研究利用共同邊界的資料包絡分析法，評估台灣上市、櫃半導體企業之IC設計、IC製造及IC封測三類的經營績效與技術缺口比率（TGR），並基於半導體產業具有資金需求龐大與規模經濟之特性，因而再分析各類半導體的TGR是否會因此會有差異。另外，也想探討美國金融風暴的影響是否超出金融面，而波及到台灣上市、櫃半導體企業。實證結果發現：（一）在美國金融風暴發生後，三類半導體企業之間在「規模效率」具顯著差異，且以IC設計類表現最佳，其次為IC封測類，最差為IC製造類；在「總效率」上亦具顯著差異，不過是IC封測類最佳，其次為IC設計類，最差仍為IC製造類。（二）三類半導體企業的「純粹管理效率」，在金融風暴發生前後之間均具顯著差異，且均是金融風暴後表現顯著較佳；在「規模效率」上除IC封測類外，IC設計類、IC製造類也均是如此。（三）三類半導體之技術缺口比率(TGR)均顯著存在，且IC設計類最高，其次為IC封測類，最低為IC製造類。（四）IC設計類的平均TGR，上市較上櫃為高；而IC封測類、IC製造類則均在大規模企業的平均TGR，顯著較高。此外，僅IC設計類的平均TGR，在金融風暴發生後顯著變低。

關鍵字

半導體產業 ； 經營績效 ； 共同邊界資料包絡分析法 ； 美國金融風暴 ； 技術缺口比率

並列摘要

This study evaluates the Operating Performance and Technology Gap Ratio (TGR) by using the methodology of meta-frontier DEA. The IC Design group, IC Manufacturing group, and IC Packaging and Testing group are three selected samples from Semiconductor Industry of listed enterprises on the Taiwan Stock Exchange (TSE) and Over-the-Counter (OTC), including Emerging Stock Market (ROTC). Literatures of applying Meta-frontier DEA to measure TGR have not detailed whether or not TGR is affected by other variables. Due to heavy demand of capital and significant scale economics in the semiconductor industry, this paper chooses listed corporations variable and business scale variable to investigate whether TGR has different results among these three groups. In addition, the study also discusses whether the impact of the American financial crisis has exceeded financial dimension and then affected industries such as the above mentioned companies of this paper. The empirical results are as follows: (1)The Scale Efficiency (SE) has significantly different among these three groups of Semiconductor companies after America's financial crisis and IC Design group is the best one while the IC Manufacturing group is relatively worse. The Total Efficiency (TE) is too, but the best becomes to be IC Packaging and Testing group while the IC Manufacturing group is still worse. (2)The Pure Efficiency (PE) of pre-and-post America's financial crisis has significantly different and the post-crisis is better than the pre-crisis in each group. The SE is too, except the IC Packaging and Testing group. (3)The TGR of each group is significantly less than 1 and the technical level of IC Design group is the highest among all followed by IC Packaging and Testing group and then IC Manufacturing group. (4)The average TGR of IC Design enterprises listed on TSE is better than that of IC Design group listed on OTC and ROTC. With respect to business scale, IC Design group has little affected by that variable while IC Packaging and Testing and IC Manufacturing groups are significantly influenced by that. The average TGR of large scale businesses is higher than that of small and medium-sized ones. In IC Design group, the average TGR of pre-and-post America’s financial crisis is significantly different. The TGR's average of that group in the pre-crisis is better than that of post-one.

並列關鍵字

Semiconductor Industry ； Operating Performance ； Meta-frontier DEA ； American Financial Crisis ； Technology Gap Ratio

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