鋼線業經營能力分析

Management Ability Analysis of Steel Wire Industry

10.6459/JCM.200703_4(1).0002

朱正民(C. M. Chu)

經營能力 ； 經營危機 ； 鋼線鋼纜業 ； management ability ； management crisis ； steel wire industry

危機管理學刊

4卷1期（2007 / 03 / 01）

13 - 20

繁體中文

本文根據傳統的經營能力指標：總資產週轉率、固定資產週轉率、存貨週轉次數、應收帳款收款日數，以及歷年天下雜誌製造業一千大排行榜的資料，分析鋼鐵產業的一支，線材業各公司的消長趨勢與經營能力，從而推論可能產生經營危機之處。分析對象是以鋼線鋼纜同業工會的特級廠會員做為選樣母體，並依據一千大排行榜之資料，選出三組廠商，分別代表（一）線材業上游廠商；（二）線材業中經營績效較佳的下游廠商；（三）線材業中經營績效較差的下游廠商，以經營能力指標進行對照分析。 分析結果顯示，上游廠中以豐興鋼鐵經營能力最好、福懋興業次之、華新麗華最差。經營績效較佳的下游廠，有財務報表資訊揭露不足的問題，經營手法過於傳統。經營績效較差的下游廠，各項指標均落後，其中大中鋼鐵已經下市、友力工業也已停止發行股票。顯然，即便在這種成熟型產業中，仍然有經營績效高低之分。

The purpose of this paper is to analyze the management ability of steel wire industry by asset utilization ratios which include total turnover ratio, fixed asset turnover, inventory turnover, receivables turnover. Besides these turnover ratios, we also use the largest 1000 manufacturers billboard provided by 天下 magazine to analyze the trend of relative management ability for each company and try to point out the possibility of management crisis that may occur. Three groups are selected based on the analysis of relative growth to represent: (1) the upstream companies of steel wire industry; (2) the downstream companies of steel wire industry with better management ability; (3) the downstream companies of steel wire industry with worse management ability. Then we compare the difference of each group with turnover ratios state above. The results reveal that even in the traditional industry, the management ability is definitely different for each company.

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