企業導入ERP系統對盈餘持續性與後續財務比率之研究

Abstract

本研究針對臺灣42家上市櫃公司，其導入ERP系統前三年至導入ERP系統後四年之盈餘及財務比率執行迴歸分析，以研究導入ERP系統之效益。結果發現導入ERP系統後，會使公司盈餘、應收帳款週轉率及營業費用率有負向影響，存貨週轉率、應付帳款週轉率、營業收入與員工數之比及總資產週轉率則表現變好，營業成本率、總資產報酬率及銷貨報酬率無顯著影響。另外，本研究亦將樣本執行分群，以公司規模及電子產業分群。結果顯示公司規模不同之公司導入ERP系統後，其存貨週轉率、營業成本率、營業收入與員工數之比及總資產週轉率會有不同的影響；是否為電子業之公司導入ERP系統後，對於盈餘、存貨週轉率、應付帳款週轉率、營業成本率、營業費用率、營業收入與員工數之比、總資產週轉率及銷貨報酬率皆有不同之影響。

To study the benefits of ERP system, this study conducted a regression analysis of earnings and financial ratios of 42 public companies in Taiwan from three years before the implementation of ERP system to four years after the implementation of ERP system. Results indicate that earnings, accounts receivables turnover and operating expenses ratio significantly declined. Inventory turnover, accounts payables turnover, ratio of the revenues to employees and assets turnover were significantly improved. Operating costs ratio, return of assets (ROA) and return of sales (ROS) were not obviously influenced. Additionally, we divided companies by firm size and electronic industry. We found that inventory turnover, operating costs ratio, ratio of the revenues to employees and return of assets got different impacts in smaller and larger firm. Then, it had different effects on earnings, inventory turnover, accounts payable turnover, operating costs ratio, operating expenses ratio, ratio of revenue to number of employees, assets turnover and ROS between non-electronic and electronic industry.