英文摘要 |
The petrochemical industry plays an important role in Taiwan ’s economic development. Recently the issues of environment and environmental protection have often received attention. The operation direction of the petrochemical industry also faces trade-offs in profit-oriented and corporate social responsibility, there are many problems have gradually surfaced. In this study, the data of 38 petrochemical companies from the first quarter of 2008 to the fourth quarter of 2019 were used to examine the operating efficiency of petrochemical companies through data envelopment analysis (DEA). Independent sample t test, single factor variance analysis, and Tobit regression analysis to understand the factors that affect operating performance. The empirical results are as follows: (1) The operating performance of the petrochemical industry is affected by seasonality, (2) The niche business strategy is better than diversification., (3) The operating performance of firms included in the corporate social responsibility index will be higher than that of firms not included, (4) Family companies have better performance than those not included, and (5) The efficiencies between listed v.s. OTC and that of firm’s size are different significantly. Finally, from Tobit regression analysis, it was found that the shareholding ratio of directors and supervisors, the number of total asset turnover, and family businesses all have a positive impact on operating performance, and operating expense ratio and diversified operations all have a negative impact on operating performance. |