新北市蘆洲區農會信用部之財務比率分析
-與新北市板橋區農會及新莊區農會之比較

本研究蒐集2000 年至2017年3家新北市基層農會信用部之財務資料，分別是新北市的蘆洲區農會、板橋區農會、新莊區農會信用部為研究對象，以財務比率分析、結構比分析、趨勢分析、相關分析為分析工具，針對研究對象之財務績效加以分析。首先以財務比率做比較分析，分成財務結構、償債能力、經營能力、獲利能力、曝險程度5個主要構面進行綜合比較，並以2013年至2017年5年間之各項比率分別計算蘆洲區農會、板橋區農會、新莊區農會之平均值，以排序方式比較各農會於5個主要構面之強弱比較，其次，再分別就其資產負債表、損益表內重要的項目資料做結構比分析與年度趨勢分析，最後，以農會信用部的盈餘與市場指標利率做相關分析。本研究比較的各項比率是以符合安全標準下，以經營獲利為考量前提下所做的比較，經實證結果，以2013年至2017年5年間之各項比率之平均值比較，在財務結構、償債能力、經營能力、曝險程度方面，蘆洲區農會的表現優於新莊區農會與板橋區農會。在獲利能力方面則處於落後態勢，有待加強。在盈餘與市場指標利率之相關分析方面，經研究發現，2000年至2017年郵局2年期定期儲金機動利率的變化與農會信用部盈餘的走勢相吻合，蘆洲區農會、板橋區農會、新莊區農會的相關係數分別為0.5619、0.6374、0.7648，以相關強度而言，新莊區農會的盈餘與郵局利率的關係屬於高度相關，蘆洲區農會與與板橋區農會則屬於中度相關，顯示新莊區農會盈餘受郵局利率變動的影響最為敏感，表示當市場指標利率有任何的風吹草動，相關係數愈高的農會所受到的衝擊愈大，對於農會信用部盈餘的影響也愈大。

關鍵字

農會信用部；財務績效；財務比率；趨勢分析；相關分析

並列摘要

This study collected the financial information of the credit departments of three New Taipei City Farmers’ Associations from 2000 to 2017, namely the Luzhou District Farmers’ Association, the Banqiao District Farmers’ Association, and the Xinzhuang District Farmers’ Association as research samples, with financial ratio analysis, structural ratio analysis, and trends. Analysis and correlation analysis are analytical tools that analyze the financial performance of the research sample. Firstly, a comparative analysis of financial ratios is carried out, which is divided into five major facets of financial structure, solvency, operating ability, profitability and exposure degree, and is calculated separately from each of the ratios from 2013 to 2017. The average of the Luzhou District Farmers' Association, the Banqiao District Farmers' Association, and the Xinzhuang District Farmers' Association compares the strengths and weaknesses of the five major facets in the rankings, and then on their balance sheets and income statements. The important project data is used for structural ratio analysis and annual trend analysis. Finally, the correlation analysis is made with the earnings of the Credit Department of Farmers’ Association and the market index interest rate. The ratios compared in this study are based on the premise of meeting the safety standards and taking the profit of the operation as the consideration. According to the empirical results, in terms of financial structure, solvency, operating capacity and exposure degree, Luzhou District Farmers Association The performance of the peasant association is better than that of the Xinzhuang District Farmers Association and the Banqiao District Farmers Association. In terms of profitability, it is in a backward trend and needs to be strengthened. In the analysis of the correlation between earnings and market index interest rates, the study found that the change of the 2-year fixed-rate reserve mobile interest rate of the post office from 2000 to 2017 coincides with the trend of the surplus of the Credit Department of Farmers’ Association, The correlation coefficients of Luzhou District Farmers Association, Banqiao District Farmers Association, and Xinzhuang District Farmers Association are 0.5619, 0.6374, and 0.7648, respectively. In terms of correlation intensity, the relationship between the surplus of the Xinzhuang District Farmers' Association and the post office interest rate is highly correlated. Luzhou District Farmers Association and Banqiao The district farmers' association is moderately related, indicating that the surplus of the Xinzhuang District Farmers' Association is most sensitive to the impact of changes in the post office interest rate, indicating that when the market index interest rate has any turmoil, the higher the correlation coefficient, the greater the impact on the farmer's association. The impact of the credit department’s surplus will also increase.