台灣之市／櫃營造業財務績效之研究

A Study of Financial Performance Evaluation on Listed Construction Industry in Taiwan

林宜幸(Yi-Hsing Lin) ； 蕭景楷(Ching-Kai Hsiao) ； 卓益豐(Yi-Li Cho)

《中華建築學刊》 3卷3期 (2009/03) Pp. 13-23

https://doi.org/10.6371/CHJA.200903.0013

摘要

本研究以14家上市上櫃營造公司之16項財務比率爲評估指標，籍由主成份分析法萃取出主要因素及權重，建構出營造業經營績效之評估模式，希冀爲營造業者、金融機構及投資人等提供評估營造公司個別經營狀況之基凖，使得各界能於營造業經營績效評估的問題上，獲得具體而正確的資訊，以供決策分析之參考。研究結果顯示，在評估指標建立方面本研究籍由文獻探討及考量營造業之經營特性挑選16項財務比率，經由因素分析之主成份分析法及因素轉軸萃取主要因素，縮成爲4個因素構面，分別爲「收益力」因素、「安定力」因素、「活動力」因素、「成長力」因素並利用因素成份係數當作之權重建構經營績效評估方程式。

關鍵字

主成分分析 ； 營造業績效 ； 財務比率

並列摘要

This research Used 16 financial ratios of 14 companies in construction industry as evaluated indicators. The major factors and weights will be extracted by principle component analysis to build the managinal efficiency evaluating model for construction industry and to provide the proper evaluating standards on individual company for construction industry, financial institution and investor, which will eventually lead to the accuarate estimate on the managinal efficiency of construction industry and provide correct reference for the descision makers. The results showed that, in the establishment of evaluated indicators, 16 financial ratios were choosed following the reference discussion and concidering on characteristics of construction industry, and by the factor analysis, 4 primary factors were deduced, i.e., profitability, stability, activity, and productivity, which their weights were used to build up the evaluating model for managinal efficiency.

並列關鍵字

Principal Component Analysis ； Performance of Construction ； Financial Ratio