上市、櫃及公開發行之太陽能廠商的績效與影響因素分析

The Performance of TSE, OTC and Public Listed Solar Companies and Its Influencing Factors

太陽能具有環保、無危害及無限量的特色，已成為最具潛力的替代能源。台灣由於具有科技產業基礎，因此太陽能廠商只要能提升其管理績效，則將更具有競爭力。本文除利用資料包絡分析法，進行上市、櫃及公開發行太陽能廠商的績效評估外，亦應用Fried ,Lovell ,Schmidt ,and Yaisawarng (2002)的步驟檢定影響績效因素的顯著性。結果發現僅2008 年下半年中、下游廠商的規模效率與總效率之中位數排名，顯著較上游廠商為佳，但卻較2009 年上半年呈顯著進步。另在研究發展費用率、資產週轉率、及經營年限上，均對營收淨額的無效率呈顯著的負向影響，僅負債比率呈顯著正向影響。

The solar energy has the properties of protecting environment, security and infinity. It already becomes the main energy sources in recent years. Because the strength of Taiwanese high-tech industry is very well, the solar firms only pay attention to the management efficiency and have the competitiveness.This paper uses the Data Envelopment Analysis to evaluate the performances of TSE, OTC and Public Listed Solar Companies and applies the method of Fried, Lovell, Schmidt and Yaisawarng (2002) to test the significance of influent factors. The results only find the ranks of both the scale efficiency and the technical efficiency for middle-downstream companies to be significantly better than upstream companies in the second half of 2008. However, the ranks in the first half of 2009 are more significantly inferior than the ranks in the second half of 2008. Further more, the factors of R&D expense ratio, asset turnover, and operating period are significantly negative to the inefficiency of net sales except the liabilities ratio.