創新力對公司績效影響：美國與台灣半導體產業實證分析

Abstract

創新力是當代研究的熱門話題，企業的績效也是被廣泛討論的議題。創新能力對企業績效的影響便成為一個值得深入研究探討的主題，先前的研究指出企業創新力可以增加企業獲利能力與改善經營績效。然而，克里斯汀生認為創新的型態可以分為兩種，維持性與破壞性創新，而維持性創新在過度滿足顧客需求情況下不但不會增加企業的績效，反而造成企業發展的阻礙，而這個說法還待驗證。本研究的目的就是驗證維持性創新與破壞性創新的之間對於企業的績效的影響是否真存著差異性。本研究先對美國與台灣半導體產業的進行分類，定義各群組的特性，分別歸納出代表破壞性創新的台灣與美國IC設計業者、代表維持性創新的美國整合元件廠商與台灣半導體製造業者等兩個群組，選出代表創新力的五個代理變數（分別是專利核准數，研發人力比、研發密度、技術合作次數、合併與併購）對企業績效（資產報酬率）的影響，進行廻歸分析與交叉比對。實證結果顯示，克氏的論點是被支持的，也就是說半導體產業中，破壞性創新的公司的創新力與維持性創新的公司的創新力對於企業績效而言，前者具備較顯著的影響力。此外本研究也印證美國與台灣的半導體業者的在獲得創新技術方面是有說差異的，除了自行研發外，前者常透過合併或併購的方式，後者重視的是策略聯盟與技術合作。最後，本研究的結果發現專利權對於企業經營績效並沒有顯著的關係，這意味著專利核准件數並不能完全代表創新力，如何分析專利與創新力之間的關聯性，可以再作進一步的研究。

Both Innovative capability and business performance are important and popular issues discussed. To study the Innovative capability impact on business performance has became the most one. Previous studies have shown that innovative capability improved the business performance and profit capability. However, Dr. Christensen classified innovation into disruptive and sustaining innovation. Moreover, in some cases the disruptive innovation cannot improve the business performance, but became a disincentive to it. And this hypothesis requires further validation. Our research objective was to find the difference of impact on the business performance between disruptive and sustaining innovation. First, we divided the semiconductor industries in the USA and Taiwan into four groups: USA IC design houses, Taiwan IC design houses, Taiwan foundries, and USA IDM. USA and Taiwan IC design houses represented the group of disruptive innovation and Taiwan foundries and USA IDM the sustaining innovation one. We selected five Proxy Variables (the numbers of issued patents, ratio of R&D manpower, the destiny of R&D, the technology cooperation, and acquisitions) as the independent variables. And the ROA represented the business performance was the dependent variable. We used regression analysis and cross validation that found the disruptive innovation theory was supported. It also meant disruptive innovation was better than sustaining innovation in the improvement of business performance. This study also found that the number of issued patents was not significant to ROA. We can study the relationship between patents and innovation capability in further research.