整合性財務分析觀點導入企業標竿管理之研究：以台灣紡織業為例

Enhancing the Efficacy of Benchmarking Management with the Integrated Financial Ratio Analysis Perspective: An Example Study of Taiwan's Textile Industry

林文晟(Wen-Cheng Lin) ； 沈群英(Chun-Ying Shen) ； 梁榮輝(Jung-Hui Liang)

《全球管理與經濟》 5卷2期 (2009/12) Pp. 1-14

https://doi.org/10.6565/JGME.2009.5(2).1

摘要

財務比率分析法經常應用於企業績效評估，但因各財務比率指標各有其管理意函，傳統資料包絡分析法可計算出登合性財務資料的效率值，卻無法處理負值之財務資料。本研究以能處理負值的差額基礎衡量模式（Slacks-Based Measure, SBM）資料包絡分析法整合傳統單獨呈現之各項財務比率指標，得出企業整體績效值並籍由標竿企業為績效不住企業導入標竿管理。在實證部份，基於沒有夕陽產業、只有夕陽公司、夕陽管理的概念，本研究針對金融海嘯發生的前一年2007年台灣股票市場土市的46家紡織企業套用本研究模式進行經營績效評估，分別以財務資料與財務分析比率作為為投入變項與產出變頃，結果顯示：位於效率前緣之業者計有8家，效率待改暮之業者計有38家；效率前緣的8家企業，可以作為其它企業標竿管理的對象，效率不佳的企業明顯存有投入資源、浪費或產出資源不足的現象，本研究經由差事員分析進一步地給予個別公司導入標竿管理進行績效改善。

關鍵字

財務比率分析 ； 資料包絡分析 ； 差額基礎衡量模式 ； 標竿管理 ； 紡織業

並列摘要

Financial Ratio Analysis (FRA) had being applied for a long time for evaluating a firm's operating performance. However, these individual performance values ca1culated from FRA has their own different managerial implications. The original Data enve10pment analysis (DEA) could till this gap and calculate an efficiency value to evaluate a firms' performance. This study integrates the DEA with Slacks-Based Measure Model (SBM) for enhancing the evaluation efficacy of a firm's operating performance. An empirical case study is performed to demonstrate the efficacy of the proposed system and to categorize two firm-groups, a front operating efficient frontier group and the back one. This work took the 2007's financial data before the financial crisis from 46 textile firms in Taiwan stock market for analysis. The 8 textile firms were categorized an efficient operating group and the other 38 firms belonged the inefficient one. This study then employed the slack-based measure and analysis model as a benchmarking management to offer some improvement suggestions for those inefficient firms.

並列關鍵字

Financial ratio analysis ； FRA ； Data envelopment analysis ； DEA ； Slacks-based measure model ； SBM ； Benchmarking management ； Textile industry