半導體IC測試產業經營績效分析

Abstract

IC測試在半導體工業是一個很重要的製程，到目前為止也暫時沒有任何取代方法，本研究認為IC測試業會跟半導體工業長存，故本研究先行了解整個供應鏈的上下游關係，並將進一步利用EVA與標準化EVA了解各產業經營特性與表現，希望找出IC測試業如何因應技術快速變動下營運困境的解決之道，以便對IC測試業提出適當的建議。

本研究發現22家樣本公司中，表現最好的就是聯發科，如內文所述聯發科並不追求最新的技術，仍然得以為股東創造價值(四年平均標準化EVA高達148.34)；而半導體巨人Intel，在這四年（2001-2004）來，雖然不斷推出速度更快的CPU，但也無法讓它的標準化EVA轉為正值（-2.8）。

本研究認為IC測試產業需要全盤改變，否則依照目前的策略來進行，恐怕會有不少公司將要面臨倒閉的風險；這對IC測試此一垂直分工很明顯的產業而言，是一個很重要的發現。Fabless Design House也應該思考：若只是一昧追求新技術，反而會傷害整個產業的供應鏈；所以是否從半導體巨人Intel開始，產業間共同思考未來該如何做策略的規劃，以避免傷害整個產業的供應鏈，正是本研究所強調的重點之所在。

IC testing is an important process in semiconductor industry, which will not be replaced in the semiconductor supply chain. Our research believes IC testing business will keep playing an important role in the semiconductor value chain as long as the semiconductor industry. This paper studies the relationship between the companies inside the IC testing supply chain and use EVA and standardized EVA to find the operation performance of the selected companies. The purpose of this research is to find out how the companies in the IC testing industry should do to face the fast changing technology and to provide a proper suggestion and advice to these companies. Our research found out that inside the 22 selected companies, MediaTek Inc. had the best performance. MediaTek Inc. is the only company in the selected samples in design house industry using matured technology instead of the latest technology but earning the hightest profit for its shareholders in the selected samples (the average standardized EVA was 148.34 from 2001 to 2004). Meanwhile, the average standardized EVA of the semiconductor giant - Intel was negative (-2.8) even though it always delivers faster and faster CPU. The entire IC testing supply chain needs to be changed entirely; otherwise there are many companies will be out of business if they keep running the same strategy. And this is a very important discovery for IC testing industry especially, which is extremely vertical integrated. Fabless design houses also need to think about this problem, too. If they continuous to chase the new technology, they will damage the whole supply chain. Our research suggest Intel as a supply chain leader could issue a proposal for the whole industry to re-think a new strategy: either slowing down pursuing advanced technology or showing a new way for the whole IC testing industry to survive.