This research is based on the financial reports prepared by the International Accounting Standards (IAS) from 2010 to 2020, the period of 11 years for the non-electronic industry of listed companies in Taiwan. Companies aiming to improve productivity and increase production capacity should make the most effective use of the cash in hand, without harming shareholders' equity or creating conflicts of interest due to improper decisions by managers. Furthermore, companies should not only ensure that their shareholders are properly compensated, they should also be able to create profits and be responsible to their stakeholders through the implementation of corporate governance mechanisms in order to realize the value of the company.