智慧資本與傳統產業經營績效之關聯性研究

The Relationship of Intellectual Capital and Traditional Industries Performance

郭宏男(Hung-Nan Kuo)

指導教授 ： 洪嘉聲 ； 黃瑞靜

崑山科技大學/商業管理學院/企業管理研究所/碩士(2006年)

https://doi.org/10.6828/KSU.2006.00036

摘要

知識經濟時代的來臨，知識除了可以為企業帶來更多收益之外，更是決定企業未來競爭優勢的關鍵要素。而智慧資本則是企業於知識經濟時代競爭的利器，近年來其重要性受到廣大的討論，但以往智慧資本的實證研究多著墨於高科技產業，甚少研究智慧資本對傳統產業的影響。本研究以國內傳統產業上市、上櫃公司為研究對象，並以1995年至2004年十年為研究期間。且將智慧資本分為人力資本、創新資本、流程資本及顧客資本四大構面。
因此，本研究並以結構方程模式探討我國傳統產業中智慧資本各構面與傳統產業經營績效的關係，實證結果發現，人力資本方面：員工平均年齡、每人營業利益、員工附加價值呈現正向顯著；員工平均服務年資、員工數增減比率呈現負向顯著。創新資本方面：當年度研發密集度、去年度研發密集度、研究發展強度呈現正向顯著。流程資本方面：管理費用增減比率、固定資產週轉率、流動資本週轉率、總資產週轉率有正向顯著；組織穩定度呈現負向顯著。顧客資本方面：大客戶銷貨比率、產品接受率呈現正向顯著；而廣告費呈現負向顯著。此四個構面均對傳統產業之經營績效有顯著影響，其中以流程資本最為顯著。而且智慧資本各要素不僅會對經營績效產生影響，也會透過要素間的因果關係間接地影響經營績效，由本研究實證得到兩條路徑，分別為創新資本與流程資本相互影響之後，再透過人力資本對經營績效產生影響；以及創新資本與流程資本相互影響之後，再透過顧客資本對經營績效產生影響。

關鍵字

經營績效 ； 智慧資本 ； 傳統產業

並列摘要

When entering the period of knowledge economy, the knowledge may bring more incomes for the enterprise, it is key factor to decide competitive advantage of enterprise in the future. Therefore, intellectual capital has become useful tool of enterprise competition. However, empirical researches in intellectual capital always focused on high tech industries. There is even deficient in the studies of the influence on traditional industries. This research sets the TSEC & OTC listed companies in traditional industries as the objects and from 1995 to 2004 ten years as research period. Intellectual capital can be classified as four dimensions: human capital、innovation capital、structural capital、customer capital.
We use structural equation model to test the relationship between intellectual capital and traditional industries performance. The empirical result indicated: in human capital, employees average age、operation profit per employee、employee value added has significant positive; employees average seniority、employee increase or decrease rate has significant negative. In innovation capital, the density of R&D and R&D intensity has significant positive. In structural capital, administrative expenses increase or decrease rate、fixed assets turnover rate、floating capital turnover rate、total assets turnover rate has significant positive, organized stability has significant negative. In customer capital, top customers’ sale rate、product acceptable rate has significant positive, advertising expense has significant negative. The components of intellectual capital have influences operating performance indirectly. The empirical result indicated: the interrelation of innovation capital and structural capital, then through human capital influences operating performance. On the other hand, the interrelation of innovation capital and structural capital, then through customer capital influences operating performance.

並列關鍵字

operating performance ； intellectual capital ； traditional industry

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