半導體產業供應鏈為原廠、通路商(代理商)及終端客戶(電子製造商)的關係,但原廠資源有限下,中小型客戶則由通路商提供服務。而併購使原廠的議價能力提高,通路商則面對提升經營效率的挑戰。因此,本研究目的為分析國際半導體通路商的經營績效與檢視影響績效之因素。本研究以2012-2016年之18季資料分析國際間5家與臺灣10家大型通路商,採資料包絡分析法、單因子變異數分析、共線性分析及Tobit迴歸等方法進行分析。研究發現,最有效率的通路商均來自臺灣,但大多數效率值未達到1的樣本(262個)則呈現相對地無效率狀態,而經營效率會受到產業景氣影響,在通路商眾多下,賀芬達指數顯示對經營效率不具影響。最後,臺、外商之區別、純益率及資產週轉率等因素對經營效率有正影響性。
Although the supply chain relationship in the semiconductor industry exist among vendors, semiconductor distributors and electronic-manufacturer-type customers, the distributors provide most of services for small-and-medium size customers due to the limited resources from vendors. In addition, merger and acquisition activities occurs continuously among vendors during the recent years. The reduced number of vendors makes vendors have more bargaining power and distributors face even more challenges in operation to improve operational performance. Therefore, the objectives of the study are to analyze operating efficiency among international-wide semiconductor distributors and to investigate the possible influential factors on efficiency. The collected sample of the study is from top 5 international- and top 10 Taiwan-semiconductor distributors from the first quarter in 2012 to the second quarter in 2016. The methodology applied under the study include Data Envelopment Analysis (DEA), one way ANOVA, collinearity analysis, and Tobit regression. The study finds that the most efficient firms come from Taiwan among 270 sample observations. Nevertheless, most of investigated units (262 observations) with efficiency values less than one perform less efficiently. The result also indicates that operating efficiency is affected by industrial seasonality. It is found that the industrial concentration indicator of Herfindahl-Hirschman index is not the influential factor because of many competitive distributors in the semiconductor industry. Finally, the factors of Taiwan-International distributor-dummy variable, net income ratio, and assets return ratio are found to be positive impact factors on operating efficiency.