台灣半導體公司經營績效之研究

Abstract

台灣半導體產業是政府現階段所推動「兩兆雙星」重點產業之一，台灣半導體產業歷經二十餘年發展，晶圓代工的市場佔有率位居全球第一，IC設計佔世界第二，在在顯示我國半導體產業已處於世界共同領先的地位。相較於其它國家，我國半導體產業最大的競爭優勢在於產業群聚及專業分工所產生的效應，這是其他國家所難以仿效的。然而，我國半導體產業發展至今仍以代工製造為主，製造需投入大量資金，在景氣循環影響下，這樣的擴張常常導致投入的產能高於需求的情形；另外，近年來在晶圓代工方面有新的進入者如大陸及南韓的加入競爭，亦使我國半導體業者面臨新的威脅。台灣半導體業者應如何調整經營策略，以長期累積的豐富製造經驗，輔以完整的上、中、下游垂直產業鏈之運作架構，朝向高附加價值的設計服務業發展，以維持在全球市場的競爭力，將是台灣半導體業者及政府所應正視的課題。本研究由公開資訊觀測站（Market Observation Post System）中，蒐集了民國92年度之67家上市櫃半導體公司之財務分析資料，利用多變量分析方法中的因子分析（Factor Analysis）方法，將20個財務指標縮減為5個共通因子，並以因子分析（Factor Analysis）所得到之因子得點作為群落分析（Cluster Analysis）之輸入，而將67家半導體公司分群，進而加以分析解釋各群落的特性，以做為半導體業者擬定策略之參考。

Taiwan Semiconductor industry is one of the promoted industries of the government’s actively developing project of “two-star, two trillion（兩兆雙星）”, after the development of the past 2 decades, the global market share for Taiwan Semiconductor industry ranks as No. 1 in foundry and ranks as No. 2 in fabless, these show that our Semiconductor industry is in the position of world leadership. Compare to the other countries, the most comparative advantages of our Semiconductor industry are the industry clustering effect and specialization within Semiconductor industry, and these advantages are hard to imitate for other countries. However, the development of our Semiconductor Industry has been focused on foundry manufacturing, and often needs to invest big bucks on capital expenditure, but under economic downturn, this expansion often leads to capacity overshoots demand. And with joining into competition in the foundry segment from new entrants like China and South Korea in recent years, our Semiconductor companies are facing the new threats. How should the Taiwan Semiconductor companies adjust their business strategies with plentiful long-term accumulating manufacturing experiences under the scope of the integrated upstream and downstream industry chains to transform themselves into a high value-added, design-driven industry in order to remain competitive in global markets is what Taiwan Semiconductor companies and the government need to face squarely. This paper presents an analysis of business performance for Semiconductor companies of Taiwan based on the 2003 financial data from the Market Observation Post System and the application of multivariate statistical analysis techniques—Factor Analysis, to diminish the 20 financial criteria and represent in 5 common factors, and base on the factor scores obtained from Factor Analysis to be the inputs for Cluster Analysis, we divided 67 Semiconductor companies into several groups, and further analyze and explain the characters of each groups, in order to provide suggestions to Semiconductor companies for making strategic decisions.