台灣TFT-LCD業經營績效之探討：以S-C-P產業組織理論為基礎

An Exploration in the Performance of Taiwan's TFT-LCD Industry: Based on S-C-P Panel Data Model

林亭汝(Grace T.R. Lin) ； 沈永祺(Yung-Chi Shen) ； 洪仁財(Ren-Tsai Hung)

《臺灣企業績效學刊》 2卷1期 (2008/12) Pp. 1-29

https://doi.org/10.6697/TBPJ.200812_2(1).0001

摘要

台灣TFT-LCD產業歷經十年的發展，至2007年總產值達新台幣1.69兆元，其中整體面板產值達新台幣1.21兆元，超越韓國，躍居世界第一。本研究以產業經濟學之結構－行為－績效(Structure-Conduct-Performance, SCP)模型為基礎，並綜合TFT-LCD產業特性，探討產業結構、企業競爭行為與經營績效之間的關係。現階段台灣大尺寸TFT-LCD面板製造廠商一共有五家，由於家數不多所以研究樣本將所有廠商全數納入，研究期間由2000年第二季至2008年第一季，以季為單位，並以Panel Data迴歸模式進行產業分析。產業結構變數為市場佔有率、資本密集度、與銷貨成長率，廠商行為變數為研發密集度、投資密集度、水平整合、垂直整合與負債比率等。實證結果發現，銷貨成長率與投資密集度對於經營績效有顯著正相關，資本密集度、研發密集度、垂直整合與負債比率對於經營績效呈現顯著負相關。其引申的管理意涵為持續擴充產能、增加銷貨成長率雖然可以提昇經營績效，但是並非唯一選擇，提高固定資產使用效率、降低負債比率也可以提昇經營績效。

關鍵字

結構－行為－績效模型 ； TFT-LCD產業 ； 追蹤資料模型

並列摘要

The output value of Taiwan's TFT-LCD industry has reached 1690 billion NT dollars in 2007, with a decade of development. Particularly, the production value of TFT-LCD panel of Taiwan, exceeding that of Korea and becoming the first in the global market, is about 1210 billion NT dollars. This study uses listing Taiwan's firms of large size TFT-LCD panel maker as empirical objects. There are five firms making large size TFT-LCD panel. The themes of this study are to explore what status the TFT-LCD industry in Taiwan stays and what factors influence TFT-LCD firms' operating performance in view of the Structure-Conduct-Performance (SCP) mode. This study picks all the makers as empirical sample because the number of the makers is not so many. The sampling panel period is from 2000Q2~2008Q1. The independent variables in maker structure are market share, asset intensity, and sales growth rate. The independent variables in firms' behavior (conduct) include R&D intensity, investment strength, horizontal integration, vertical integration and debt rate. The empirical result shows that investment strength as well as sales growth rate has significantly positive effect on operating performance. On the other hand, the asset intensity, R&D intensity, vertical integration and debt rate have significantly negative effect on operating performance. The result provides us a managerial implication as follows: although expanding the product capacity and increasing the sales growth rate continuously can increase the operating performance, it is not the only one choice. It is also a good strategy to improve the operating performance by increasing using fixed capital or decreasing the debt rates.

並列關鍵字

S-C-P Theory ； TFT-LCD Industry ； Panel Data Model

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