現代零售業對台灣經濟具有重要的影響。根據過去研究發現公司財務結構是進行績效衡量所關心的重要議題之一。然而,關於衡量零售業經營效率的相關文獻並不多。根據上述,本研究以財務指標來衡量零售業績效。本研究包括兩部分,第一部份為利用財務指標衡量零售業績效的實證分析,研究方法以DEA (Data Envelopment Analysis, 資料包絡法 ) 求出效率值,所選取的投入變數為流動資產、員工人數、存貨和促銷費用;產出變數為銷售額和毛利。第二部分以複迴歸分析找出對產出變數具有顯著影響的投入變數。本研究的結果發現:(1)金融風暴過後,零售業的經營績效仍維持平穩的上升,但在2001年則呈現下降。(2)相較於其他零售業,布疋、衣著、服飾品零售業的表現最差。(3)對整體零售業和綜合商品零售業而言,流動資產、員工人數、存貨皆對銷售額及毛利有顯著的相關。(4)對汽機車及其零配件、用品零售業而言,流動資產對銷售額有顯著的影響;而存貨對毛利亦有顯著的影響。(5)對布疋、衣著、服飾品零售業,流動資產和員工人數對銷售額有顯著的影響;員工人數則對毛利有顯著的影響。由以上的實證結果可知,本研究能協助管理者評估零售商的經營績效,及作為投資者選擇投資對象的一個參考。
The modern retailing has shown a great impact to the enhancement of economic in Taiwan. In consequence, its financial structure becomes an important issue as long as the performance measurement is concerned with. However, information with respect to efficiency is hardly ever revealed. This research contains two parts. The first part presents an empirical investigation where financial index is considered to measure the retailing performance. The technique of Data Envelopment Analysis (DEA) is utilized to derive the efficiency. The inputs as the independent factors are current assets, the number of employees inventory investment, and promotion expenses used in the analyses while the outputs as the dependent factors are sales and gross margin. The second part performs a multiple regression analysis to disclose the input factors that significantly influence the outputs. The research results are (1) the retailing dealt with the Asia currency crisis well, but it is unable to maintain in 2001. (2) Retail of fabrics, clothes and apparel accessories does not perform well in comparison with others. (3) For retail trade and retail sale of general merchandise, current assets, the number of employees and inventory investment have significant relation with sales and gross margin. (4) For retail sale of vehicles and parts, supplies, current assets has significant relation with sales. Inventory investment has significant relation with gross margin. (5) For retail of fabrics, clothes and apparel accessories, current assets and the number of employees have significant relation with sales. The number of employees has significant relation with gross margin. It can help managers to evaluate the performance of retailers and investors can make the best choice.