市場區隔下：會計師事務所經營績效決定因素探討

Determinants of Operating Performance for Taiwanese Audit Firms under Market Segment

本研究探討會計師產業之經營績效決定因素，從市場區隔觀點，全體樣本區分為國際型、全國型、區域型與地方型等四類事務所。實證資料取自民國78年至96年，我國行政院金管會的會計師事務所服務業調查報告資料庫，首先以複迴歸分析得出經營績效決定因素，再以Wald檢定將決定因素進行重要性排序，主要結果如下:國際型事務所最重要經營績效決定因素為事務所規模，其次員工工作經驗。全國型事務所最重要之經營績效決定因素為事務所規模，其次依序為人力資本槓桿、事務所成立年數、員工教育程度、多角化程度、經濟景氣指標與員工工作經驗。就區域型事務所而言，其經營績效決定因素中以事務所規模最重要，其次為事務所成立年數，再者為多角化程度、員工教育程度、經濟景氣指標與持續專業進修。地方型事務所的經營績效決定因素，仍以事務所規模最重要，其餘依序為人力資本槓桿、多角化程度、持續專業進修、事務所成立年數、員工教育程度與員工工作經驗。

This study examines the determinants of operating performance for the public accounting industry in Taiwan. Empirical data are from 1989 to 2007 Survey Report of Audit Firms in Taiwan. In terms of market segment, total samples are divided into four categories, including international, national, regional, and local audit firms. Based on the multiple regression analyses, we first have the determinants of operating performance for the four categories of audit firms. Next, we conduct Wald test to determine the ranking of the determinants obtained. Main results are as follows. In the international audit firms, the most important determinant of operating performance is size followed by the work experience of auditors. For the national audit firms, the most important determinant of operating performance is size followed sequentially by the human capital leverage, age of firms, auditors' educational level, degree of diversification, economic factors, and work experience of auditors. The most important determinant of operating performance is still size in the regional audit firms. Age of firms ranks second and the remaining factors are degree of diversification, auditors' educational level, economic factors, and continuing professional education. As regard the local audit firms, their most important determinant of operating performance is size as well. Other determinants consist of human capital leverage, degree of diversification, continuing professional education, age of firms, auditors' educational level, and work experience of auditors.