影響應收帳款之因素分析-以臺灣生技醫療產業為例

Abstract

本研究對象為2013年底於臺灣證券交易所公開發行股票之生技醫療產業公司。在影響應收帳款數量的分析中，我們發現銷貨淨額、應收帳款週轉天數與應收帳款的變動之間成正相關；而當我們將樣本以金融風暴發生前後分群時，發現銷貨淨額及應收帳款週轉天數與應收帳款的關係，在金融風暴前的斜率較小。在影響應收帳款質量的分析中，我們發現應收帳款及銷貨淨額皆各別與備抵壞帳的變動具有正相關；當我們將樣本以金融風暴發生前後分群時，發現壞帳與應收帳款及銷貨淨額的關係，在金融風暴前的斜率較大；當我們將樣本以經營績效高低來分群時，發現經營績效較好的公司與較差的公司相比斜率較小。

This study analyses the factors affecting accounts receivable from listed and OTC companies of biotech medical industry as of the year end 2013 in Taiwan. In the analysis of the factors affecting the amount of accounts receivable, the result shows that net sales and turnover days of accounts receivable have a positive and significant relationship with the amount of accounts receivable. As we divided the samples into two groups using the occurrence of global financial crisis, the slope of the relationship between net sales, turnover day and accounts receivable increased after the financial crisis. In the analysis of the factors affecting the quality of accounts receivable, the result shows that accounts receivable and net sales have a positive and significant relationship with the allowance for bad debts. As we divided the samples into two groups using the occurrence of global financial crisis, the slope of the relationship between accounts receivable, net sales and allowance for bad debts decreased after the financial crisis. As we divided the samples by their business efficiency, the slope was smaller in the companies with better business efficiency.