台灣TFT-LCD業經營績效之探討：以S-C-P產業組織理論為基礎

The output value of Taiwan's TFT-LCD industry has reached 1690 billion NT dollars in 2007, with a decade of development. Particularly, the production value of TFT-LCD panel of Taiwan, exceeding that of Korea and becoming the first in the global market, is about 1210 billion NT dollars. This study uses listing Taiwan's firms of large size TFT-LCD panel maker as empirical objects. There are five firms making large size TFT-LCD panel. The themes of this study are to explore what status the TFT-LCD industry in Taiwan stays and what factors influence TFT-LCD firms' operating performance in view of the Structure-Conduct-Performance (SCP) mode. This study picks all the makers as empirical sample because the number of the makers is not so many. The sampling panel period is from 2000Q2~2008Q1. The independent variables in maker structure are market share, asset intensity, and sales growth rate. The independent variables in firms' behavior (conduct) include R&D intensity, investment strength, horizontal integration, vertical integration and debt rate. The empirical result shows that investment strength as well as sales growth rate has significantly positive effect on operating performance. On the other hand, the asset intensity, R&D intensity, vertical integration and debt rate have significantly negative effect on operating performance. The result provides us a managerial implication as follows: although expanding the product capacity and increasing the sales growth rate continuously can increase the operating performance, it is not the only one choice. It is also a good strategy to improve the operating performance by increasing using fixed capital or decreasing the debt rates.