本文以發光二極體(Light Emitting Diode;LED)產業為例應用Panel Data 方式分析台灣節能產業之經營績效。針對目前我國已上市櫃發光二極體產業共8家公司為研究對象,取樣期間自2003年至2010年共計32季,採用施才憲(2001)及王志成(2006)「財務五力」之分析來衡量企業經營、企業獲利能力、信用狀況、週轉活動、成長性、及投入產出間生產力等問題。除了採用傳統財務比率,如:總資產報酬率、流動比率、固定比率、總資產週轉率、固定資產週轉率、總資產成長率、平均每人營業額等財務比率為衡量參數,並納入「標準化未預期盈餘」(Standard Unexpected Earning)來作為衡量產業經營績效之評估模式。實證結果發現盈餘消息確定在評估經營績效時具有顯著性,表示投資者在分析公司績效情況時,除了使用財務報表上的比率數據外,應搭配盈餘消息指標以盡早診斷或觀察出財務狀況陷入困境的公司其財務報告延滯明顯長於其他公司的情況。
In this paper, application Panel Data to analysis operating performance of energy-saving industry in Taiwan that for example Light Emitting Diode industry. Against eight companies of light-emitting diodes industry for the study that has been listed cabinets in Taiwan, sampling period of total 32 quarter from 2003 to 2010. Use the "Financial Five Forces" (Shi, 2001 and Wang, 2006) analysis to measure the problems of business operate, corporate profitability, credit, turnover activities, growth, and productivity between input and output. In addition to using traditional financial ratios to measure parameters such as: return on total assets, current ratio, fixed ratio, total asset turnover, fixed asset turnover, total assets growth rate, the average of each one''s turnover , and joined Standard Unexpected Earning to as a measure of assess model for operating performance of industries. Empirical results show the significant positive when the assessment of business performance that has the determination of earnings news. In addition to using the financial statements ratio data when the situation in the analysis of corporate performance. It should be with the indicator of earnings news to be an early diagnostic or observation of the struggling company''s financial position that financial reporting delay was significantly longer than other firms.