以財務績效角度分析天仁企業與國揚實業之多角化經營

The Research on the Financial Performance of Tenren Corporation and Guo Yang Enterprise Diversification

10.29950/JHKUM.200601.0010

許端芳(Dwan-Fang Sheu)

非相關性多角化 ； 相關性多角化 ； 財務報表 ； 財務績效 ； unrelated diversification ； related diversification ； financial statements ； financial performance

興國學報

5期（2006 / 01 / 01）

143 - 162

繁體中文

研究旨在探討企業多角化策略能否提昇企業之財務績效，擬透過企業財務報表分析多角化經營對企業財務績效的影響，並以天仁茶葉股份有限公司及國揚實業股份有限公司作為個案研究對象。這兩家個案公司都曾涉足非相關性多角化經營，卻因沒有具備相關的專業能力，結果導致前者之個案公司損失近三十億元，因此在歷經非相關性多角化（天仁證券事件）後，改為全力衝刺以天仁茗茶為主的茶葉連鎖本業－相關性多角化，尤其天仁喫茶趣的成立，對於市場之開拓有絕對的助益，使該企業能再度回春。至於後者之個案公司卻發生嚴重的財務危機，如今重新再出發亦專注於本業發展，而且改善其負債及財務結構，並提升其獲利能力，將企業之財務績效發揮淋漓盡致。

This paper is focused on the enterprise diversification whether or not to improve the financial performance. From Tenren Corporation and Guo Yang Enterprise financial statements analysis to understand the influence about financial performance by enterprise diversification. Those cases were ever involved in unrelated diversification. The first case of Tenren Corporation has been lost 300 billion dollars due to non-professional ability. Tenren Corporation is concentrated to related diversification (tea industry) after the event. There is famous about the cha FOR TEA established. It is helpful to market expansion and business glorious back. The second case of Guo Yang Enterprise is happened to serious financial crisis. Guo Yang Enterprise restarts to focus on related diversification now. It is improved by it's liabilities and financial structure. It is helpful to get higher income. Promote to the excellent situation about financial performance by the development of related diversification.

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