國內公司普遍存在公司治理問題,在金融監督管理委員會(以下簡稱金管會)之督導下於2013年開始推動公司治理評鑑制度,藉由公司治理評鑑指標分類及配分比重,讓海內外投資人更深入瞭解我國公司治理水平。因精密光學元件與智慧手持裝置等蓬勃發展,光電產業近年來深受社會大眾青睞,經營效率表現更是法人及投資大眾所關注的焦點。 本研究以國內上市(櫃)公司2011年至2015年間之光電產業為樣本,運用資料包絡分析法(Data Envelopment Analysis, DEA),求得企業經營效率並以之為應變數,以推動公司治理評鑑與否、獨立董事設置、審計委員會設置與否及是否投保董監責任險等為自變數,探討我國於推動公司治理改革下相關變數與企業經營效率的關聯性。實證結果發現,公司治理評鑑制度之推動及投保董監責任險與公司經營效率呈現顯著負向關聯性;此外,獨立董事之設置,則有助於公司經營效率之提升。
Due to the vigorous development of precision optical components and intelligent hand-held devices, the photoelectric industry has been favored by the public in recent years, and the operating efficiency is the focus of the foreign institutions and the investors. Using Taiwanese listed optoelectronic firms from 2011 to 2015, this study uses the Data Envelopment Analysis (DEA) to measure the enterprise operating efficiency and investigate how the optoelectronic firm’s operating efficiency is associated with the implementation of corporate governance evaluation, the number of independent directors in the board, and whether the audit committee and the director's and officer's insurance enhance the optoelectronic firm’s operating efficiency. The empirical results show that the implementation of corporate governance valuation system and D&O insurance have significant effect on the operation efficiency. Furthermore, there is a positive association between the independent directors and the operation efficiency.