中文摘要 2003年正值台灣IC設計產業規模達僅次於美國而成為全球第二大國之際,促使本研究探討台灣IC設計產業經營績效及其與整體半導體產業景氣連動關係。本研究以2000年至2003年為研究期間,首先,探討國內IC產業主要經營績效指標與建構評估模式,後續探討國內IC產業主要經營績效與研發費用之關聯性,最後藉由B/B值來探討全球半導體市場景氣與IC產業主要經營績效指標有無顯著的關聯性。 本研究實證結果彙總如下: 一、IC設計業最具代表性的財務指標為股東權益報酬率。 此比率為透過皮爾森相關分析及後向選取逐步迴歸法,從五類財務指標共二十三項財務比率中獲得。 二、IC設計業主要經績效指標與研發費用呈顯著負相關。 三、全球半導體市場趨勢與IC設計業經營績效的關聯性並不顯著。
ABSTRACT For the year of 2003, the scale of the IC design industry in Taiwan is ranked secondly in the whole world, next to the U.S., it motivates us to explore the relationship between the operational effects of Taiwan’s IC design industry and the prosperity of the semiconductor industry for the period from 2000 to 2003. This study investigates the main index of the IC industry’s operational performance and constructs a valuation model, then investigates the relation between the operational effects of the IC industry in Taiwan and its R D expense. Finally, through the value of B/B, this work examines the relationship between the prosperity of the global semiconductor market, and the index of the operational performance in the IC industry. The empirical results are summarized as follows. 1.The study finds that the most important financial index in the IC design industry in Taiwan is the rate of return on shareholders’ wealth, which is selected via Pearson Correlation analysis and backward stepwise regression method, from five index categories and twenty three financial ratios. 2.The main operational performance index of the IC design industry is significantly negatively related to the R D expenditure. 3.The findings indicate that the trend of the global semiconductor market is not significantly related to the operational performance of the IC design industry.