高科技產業資本配置效率性之研究-以台灣資訊電子產業為例

Abstract

台灣產業結構的變化主要由過去的農業、製造業到現在的服務業，而製造業的重心也由傳統的紡織、食品加工業、石化、汽車等產業轉移到以資訊電子為主的高科技產業。在台灣產業發展與轉型的過程中，資本似乎大量投注在高科技產業，但值得討論與研究的是，這些資本的配置是否合理。關於這個問題，由於高科技產業本身涵蓋的範圍相當廣泛，本研究以資訊電子產業為高科技產業的代表，並用產品類別加以劃分為數個子產業，採用民國80年至民國90年的財務資料，運用資料包絡分析法求得產業間相對地的經營效率，並進一步檢驗台灣資訊電子產業的資本配置效率是否存在，結果發現在本研究所採用的三種檢驗方法中，僅有一種是支持資本配置效率的存在，其餘兩項檢定結果均顯示不支持台灣資訊電子產業具有資本配置效率。

Taiwan’s economy is changing from agriculture, manufacturing to service industries. The focus of manufacturing industry is also moving from traditional textile, food-processing, petrochemistry and automobile to high-tech, especially within the information technology (IT) sector. Throughout Taiwan’s evolving economy, much of the capital seemed to be allocated heavily into high-tech industry. This phenomenon should be discussed if allocation of the capital is worth pursuing. Due to the wide scope of the high-tech industry, the IT sector is an object of research which is divided into several different product line. This research includes using DEA（Data Envelopement Approach）to evaluate the operation efficiency of these product lines and proof the existence of the capital allocation efficiency. This research used three methods to assess and found that only one result supported the efficiency of capital allocation.