台灣企業產能利用率與獲利率之關聯

Abstract

本文以逐一查找的方式收集2010-2014年台灣上市上櫃企業的產能利用率資料，分析產能利用率與企業獲利率的具體關係，實證結果顯示產能利用率對獲利率的的影響如下：(1)假如企業存在閒置產能，產能利用率與獲利率顯著正相關。(2)當企業產能利用率接近滿載，產能利用率與獲利率呈顯著負相關關係。(3)當企業通過增加資本支出擴充產能，產能利用率越高，其獲利率也會越高。

This thesis examines the association between capacity utilization and profit margin. Using the hand-collected data about capacity utilization disclosed by listed firms in Taiwan for the investigation, this study obtains the following findings. When there exists un-utilized capacity, the rate of capacity utilization is positively associated with profit margin. But when the capacity is fully utilized, there is a negative association between capacity utilization rate and profit margin. Further, when companies expand their capacity by capital expenditure, the higher the utilization rate, the higher the profit margin.