台灣企業產能利用率與獲利率之關聯

The Relationship between Capacity Utilization and Profit Margin：Evidence from Taiwan Listed Firms

杜燕青(Yan-Qing Du)

指導教授 ： 杜榮瑞

國立臺灣大學/管理學院/會計學研究所/碩士(2016年)

https://doi.org/10.6342/NTU201601703

摘要

本文以逐一查找的方式收集2010-2014年台灣上市上櫃企業的產能利用率資料，分析產能利用率與企業獲利率的具體關係，實證結果顯示產能利用率對獲利率的的影響如下：(1)假如企業存在閒置產能，產能利用率與獲利率顯著正相關。(2)當企業產能利用率接近滿載，產能利用率與獲利率呈顯著負相關關係。(3)當企業通過增加資本支出擴充產能，產能利用率越高，其獲利率也會越高。

關鍵字

產能利用率 ； 獲利率 ； 閒置產能 ； 產能規劃

並列摘要

This thesis examines the association between capacity utilization and profit margin. Using the hand-collected data about capacity utilization disclosed by listed firms in Taiwan for the investigation, this study obtains the following findings. When there exists un-utilized capacity, the rate of capacity utilization is positively associated with profit margin. But when the capacity is fully utilized, there is a negative association between capacity utilization rate and profit margin. Further, when companies expand their capacity by capital expenditure, the higher the utilization rate, the higher the profit margin.

並列關鍵字

Capacity utilization ； Profit margin ； Idle capacity

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