以智慧資本觀點評估台灣IC設計產業之財務經營績效

The Assessment of Financial Performance with Intellectual Capital Perspective in Taiwan IC Design Industry

10.30104/CYMR.200912.0001

李正文(Cheng-Wen Lee)；黎子華(Tsu-Hua Li)

IC設計產業 ； 智慧資本 ； 資料包絡分析法 ； IC Design Industry ； Intellectual Capital ； Data Envelopment Analysis

中原企管評論

7卷2期（2009 / 12 / 01）

1 - 28

繁體中文

本研究主要在於評估台灣IC設計產業的財務經營績效，該產業具有高知識密集、資金需求低、產品生命週期短，以及對代工廠依存度高等特性，「知識」乃爲为其生產力提升的重要驅動力；而且，傳統的財務報表已無法忠實表達企業價值，尤其對於高知識導向的產業，在評估企業價值或績效時，若不納入智慧資本要素，將會扭曲企業的真實價值，因此本研究以智慧資本的觀點來探討之。本研究樣本是以台灣IC設計上市（櫃）公司爲研究對象，經由智慧資本與績效評估之文獻探討初步選取衡量構面，利用複迴歸分析智慧資本各項衡量指標，選取適當的投入產出變數，接著，再以資料包絡分析法評估該產業整體及個別廠商的財務經營狀況。本研究結果發現，64家樣本公司中，28家無整體效率，其中，4家肇因於技術無效率，應改善智慧資本投入要素與產出要素的配置，8家是肇因於規模無效率，應依其生產規模狀態，縮減或擴張生產規模，16家則需同時改善規模與技術效率。藉此實證研究期提供企業在無形資產投資的方針，以改善營運策略的擬定。

This study attempts to evaluate the financial performance of Taiwan's IC design firms belonging to knowledge-driven industry, being characterized by knowledge intense, short product lifecycle and higher dependence upon OEM manufacturers. Knowledge is the crucial resource of improving their productivity. In addition, a company's real value is hardly evaluated by traditional financial statements. Intellectual capital is necessary to be taken into account; otherwise an enterprise's real value may be twisted seriously. For the purpose, first, the constructs of IC design industry's intellectual capital are indentified according to literature, and then, input and output variables are selected using multi-regression method. Furthermore, we adapt data envelopment analysis in evaluating the overall performances among this industry. Consequently, within 28 firms having no aggregate productive efficiency, 4 firms need to reallocate their technological inputs and outputs, 8 firms need to adjust their production scales, and 16 firms need to improve their technical and scale efficiencies meanwhile. The finding results provide some suggestions or implications of investing intangible assists in operational strategic decision.

1. Andersen, P.,Petersen, N. C.(1993).A Procedure for Ranking Efficient Units in Data Envelopment Analysis.Management Science,39(10),1261-1264.
2. Banker, R. D.,Charnes, A.,Cooper, W. W.(1984).Some Models for Estimating Technical and Scale Inefficiences in Data Envelopment Analysis.Management Science,30(9),1078-1092.
3. Bassi, L. I.,Van Buren, M. E.(1999).Valuing Investment in Intellectual Capital.International Journal of Technology Management,18,414-432.
4. Bontis, N.(1998).Intellectual Capital: An Exploratory Study That Develops.Management Journal,17(4),63-72.
5. Bontis, N.(1996).There's a Price on Your Head: Managing Intellectual Capital Strategically.Ivey Business Quarterly,60(4),40-47.
6. Booth, R.(1998).The Measurement of Intellectual Capital.Management Accounting,76(10),26-28.
7. Boussofiane, A.,Dyson, R. G.,Thanassoulis, E.(1991).Applied Data Envelopment Analysis.European Journal of Operational Research,52,1-15.
8. Bowlin, W. F.,Charnes, A.,Cooper, W. W.,Sherman, H. D.(1985).Data Envelopment Analysis and Regression Approaches to Efficiency Estimation and Evaluation.Annals of Operations Research,2,113-138.
9. Brooking, A.,Board, P.,Jones, S.(1998).The Predictive Potential of Intellectual Capital.International Journal of Technology Management,16(1-3),115-125.
10. Charnes, A.,Cooper, W. W.,Rhodes, E. L.(1978).Measuring the Efficeincy of Decision Making Units.Eruopean Journal of Operational Research,2(6),429-444.
11. Chen, T. Y.,Chen L. H.(2007).DEA Performance Evaluation Based on BSC Indicators Incorporated: The Case of Semiconductor Industry.International Journal of Productivity and Performance Management,56(4),335-357.
12. Drucker, P. F.(1993).Drucker on Management.The Wall Street Journal,21,25.
13. Dzinkowski, R.(2000).The Measurement and Management of Intellectual Capital: An Introduction.International Management Accounting Study,78(2),32-36.
14. Edvinsson, L.,Malone, M. S.(1997).Intellectual Capital.New York:Harper Collins Publishers, Inc..
15. Farrell, M. J.(1957).The Measurement of Productive Efficiency.Journal of the Royal Statistical Society,120,253-281.
16. Fruin, W. M.(1997).Knowledge Works: Managing Intellectual Capital at Toshiba.New York:Oxford University.
17. Galbraith, J. K.(1969).The New Industrial State.Harmondsworth:Penguin.
18. Ghosh, D.,Wu, A.(2003).International Forum of Intellectual Capital in Taiwan.Taipei:National Chengchi University.
19. Golany, B.,Roll, Y.(1989).An Application Procedure for DEA.OMEGA,17(3),237-250.
20. Grantham, C. E.,Nichols, L. D.(1997).A Framework for the Management of Intellectual Capital in the Health Care Industry.Journal of Health Care Finance,23(3),1-19.
21. Guo, J. Y.,Liu, J.,Qiu, L.(2006).Research on Supply Chain Performance Evaluation Based on DEA/AHP Model.IEEE Asia-Pacific Conference on Service Computing
22. Handy, C.(1989).The Age of Unreason.Boston:Harvard University.
23. Hubert, S.(1996).Tacit Knowledge.Strategy and Leadership,24(2),10-14.
24. Hudson, W. J.(1993).Intellectual Capital: How to Build It, Enhance It, Use It.New York:John Wiley & Sons.
25. Hung, S. W.,Yang, C.(2003).The IC Fabless Industry in Taiwan: Current Status and Future Challenges.Technology in Soecty,25,385-402.
26. Morgan, M. W.(1998).Improving Business Performance: Are You Measuring Up?.Management Review,49(2),10-12.
27. Mouritsen, J.,Larsen, H. T.(2005).The 2nd Wave of Knowledge Management: The Management Control of Knowledge Resources through Intellectual Capital Information.Management Accounting Research,16,371-394.
28. Niven, P.(2002).Balanced Scorecard Step by Step: Maximizing Performance and Maintaining Results.New York:John Wiley & Sons.
29. OECD(1996).The Knowledge-Based Economy.Paris:OECD.
30. Rennie, M.(1999).Accounting for Knowledge Assets: Do We Need New Sinancial Statement?.International Journal of Technology Management,18,648-659.
31. Roos, G.,Roos, J.,Edvinsson, L.,Dragonetti, N. C.(1997).Intellectual Capital: Navigating in the New Business Landscape.London:MacMillan Business.
32. Stewart, T. A.(1997).Intellectual Capital: The New Wealth of Organizations.London:Nicholas Brealey.
33. Sullivan, P.(1996).Developing a Model for Managing Intellectural Capital.European Management Journal,14(4),356-364.
34. Sveiby, K. E.(1998).Intellectual Capital: Thinking Ahead.Australian CPA,68(5),18-22.
35. Ulrich, D.(1998).Intellectual Capital Equals Competence × Cnmmitment.Sloan Management Review,39(2),15-26.
36. 王癸元(2002)。中正大學企業管理研究所未出版碩士學位論文。
37. 李天行、傅坤泰(2002)。整合傳統財務指標與智慧資本以評估企業之經營績效：以台灣地區IC設計公司為例。2002中華決策科學學會年會暨研討會，台北:
38. 林明杰、莊子雯(2002)。智慧資本衡量指標之研究：以我國IC設計產業為例。前膽管理新知與實務研討會論文集
39. 林勝結(2002)。中正大學企業管理研究所未出版碩士學位論文。
40. 張世其(2004)。彰化師範大學企業管理研究所未出版碩士學位論文。
41. 莊家豪(2006)。東吳大學企業管理學研究所未出版碩士學位論文。
42. 許正芳(2001)。台灣科技大學工業管理研究所未出版碩士學位論文。
43. 陳湘錡(2004)。台灣科技大學企業管理研究所未出版碩士學位論文。
44. 董碧玟(2001)。中央大學企業管理研究所未出版碩士學位論文。
45. 鄭貴揚(2003)。成功大學企業管理研究所未出版碩士學位論文。
46. 簡志豪(2001)。逢甲大學財稅研究所未出版碩士學位論文。
47. 蘇文祥(2004)。中原大學資訊管理研究所未出版碩士學位論文。

1. 郭家毓、岑淑筱(2011)。組織策略、智慧資本、組織創新與組織營運績效之研究─以連鎖咖啡餐飲業之台商為例。東海管理評論，13(1)，225-254。
2. (2021)。智慧資本對公司績效之影響：以台灣電子公司為例。臺灣銀行季刊，72(3)，24-49。