臺灣營建業經營效率之研究

營建產業係跨越工、商業的綜合性服務業，常帶動關聯產業的發展，不但牽引著上下游相關工業之需求，亦關係著一般社會大眾的住宅需求。尤其，當國家景氣狀況不佳時，政府藉由大量公共工程之推動以擴大內需，創造勞工就業機會，以刺激經濟景氣之復甦。營建業經營效率的高低與國家經濟的穩定成長，有著密不可分的關係。如何以有效的方式評估經營效率，瞭解營建業應該改善的幅度及方向，至關重要。本研究採用資料包絡分析法（Data Envelopment Analysis; DEA），衡量41家國內上市上櫃營建公司於2012~2016年之經營效率。研究結果發現，全體效率平均值僅為0.657，資源的使用仍有34.3%的改善空間，其中上櫃公司平均技術效率值高於上市公司。此外，更進一步以迴歸分析，試圖找出影響經營效率之關鍵因素。實證結果顯示，公司上市與否、成立期間、董監持股比例及經理人持股比例皆為統計上顯著的重要變數。關於本研究實證分析結果，有助於國內營建業廠商瞭解本身的資源配置是否已充分有效地運用。據以擬定經營管理策略及規劃生產力改善方向，以達到競爭力提昇的目標。讓經營者做為經營策略調整，及提供投資大眾與政府之參考。

關鍵字

營建產業；資料包絡分析法；經營效率；技術效率；迴歸分析

並列摘要

The construction industry is a comprehensive service industry that involves industrial and commercial businesses, and it often stimulates the development of related industries. It is associated with the requirements of both upstream and downstream related industries, and it is related to the general public’s demand for housing. In particular, when the business cycle of a country is in a weak phase, its government utilizes the construction industry by launching numerous public construction projects to expand domestic demand and create job opportunities for laborers, thereby attempting to stimulate an economic boom. Because the operating efficiency of the construction industry is inseparable from the stable growth of a country’s economy, effectively evaluating operating efficiency is critical to understand the direction in and extent to which the construction industry must improve. This study adopts Data Envelopment Analysis to evaluate the operating efficiency of 41 Taiwan Stock Exchange (TSEC)- and over the counter (OTC)-listed construction companies between 2012 and 2016. The results show that the overall efficiency of all companies is merely 0.657, and 34.3% of the resources remain to be improved. The average technical efficiency of the OTC-listed companies is higher than that of the TSEC-listed companies. In addition, a regression analysis is utilized to determine the key factors that influence operating efficiency. The empirical results reveal the following variables to be significant: whether a company is TSEC-listed, how long a company has been established, and the shareholding percentage of directors and supervisors, and the shareholding percentage of managers. The empirical analysis results can help domestic construction companies understand whether their resource allocation is efficient, thereby establishing operational management strategies and planning directions for improving productivity to increase competitiveness. The results may be used for business operators to adjust their management strategies and can serve as a reference for general investors and the government.