企業績效衡量在管理實務上係影響企業決策的重要依據，亦扮演著促進組織成長的關鍵角色，故企業績效衡量在管理領域中一直是一項相當重要的議題。傳統上，企業財務報表或財務比率分析係檢驗組織績效的標準方法，亦是企業最常使用的績效衡量工具。除了財報或財務比率分析外，另一種常用的績效衡量方法為資料包絡分析法。資料包絡分析法係一種無母數方法，其特色為毋需假設生產函數，即可同時評估多項投入與多項產出之生產過程，藉由線性規劃模式，計算出相對效率值與各項投入及產出之權重。因此，近年來資料包絡分析法被廣泛運用於公、私部門之績效衡量領域。 一般而言，企業皆會從事以下三種主要經濟活動：融資活動、投資活動及營業活動。企業之營運係將各項投入轉換為各項產出的過程，而營運的目標即是利用有限的資源來創造出最大之收益。從企業資源轉換與財務報表之觀點而言，在第一階段，公司使用融資活動所獲得之資金購買及投資於各項流動及非流動資產，使其能用來生產產品或提供服務。在第二階段，公司使用這些資源，並同時投入各項費用，從事生產製造、銷售等各項營業活動，最終獲得收入及利潤。公司的淨利即是上述各項活動的最終報酬。本論文即是基於此觀點以發展本研究之企業績效衡量架構。 本論文主要包括三個部分。第一、本論文藉由企業資源轉換與財務報表之觀點，基於企業流程與企業經濟活動，建構出一般目的企業績效衡量之架構。第二、本論文提出整合性兩階段衡量之概念，並發展出可融入財務報表各項關鍵要素及公司市場價值之方法論，藉以同時衡量企業財務績效與營運績效。第三、本論文結合層別化與兩階段資料包絡分析方法，提出整合性兩階段層別化資料包絡分析（TSSDEA）模型，除可衡量企業之償債能力績效與獲利能力績效外，並利用層別化模型之特性，藉由資料包絡分析之效率前緣，客觀地將各受評單位（DMUs）進行分類。本論文期望能提供管理者辨認出企業無效率之來源，以便進一步改善且提升績效，並協助企業管理者能更精確地評估財務（或償債能力）效率與營運（或獲利能力）效率，以幫助企業創造出最大的價值。 The performance measurement of enterprises has long been an important issue within the management field because it is a critical decision-making indicator for practitioners and an opportunity to improve the performance of organizations. Traditionally, financial statement or financial ratio analysis is a commonly-used analytical tool for measuring the performance of a firm. It has historically been the standard technique to examine organization performance. Besides the financial statement or financial ratio analysis, another commonly-used method of performance measurement is Data Envelopment Analysis (DEA). DEA, which does not require any prior assumptions regarding the frontier production function, is a kind of non-parametric method. It allows for the simultaneous use of multiple input and output variables and directly derives the weights of each input and output variable from a linear programming model. Hence, it has been widely used in recent years to measure the performance of both public and private sectors. In general, all business firms engage in the following kinds of activities: financing, investing and operating. The goal of a firm’s operation is to create maximum income with limited resources by using multiple inputs to transform into multiple outputs. From the resource transformation perspective and financial statements of a firm, in the first stage, a firm uses the capital obtained from financing activities to purchase current and non-current assets to enable it to make products or provide services. In the second stage, a firm uses the resources to produce and sell products, as well as to incur expenditures, and eventually to make a profit. A firm’s net profits are based on the returns on these activities. This dissertation consists of three primary parts. First, it constructs a general-purpose performance measurement framework related to business processes and economic activities from the perspective of financial statements and resource transformations. Second, it models the above framework and develops a methodology of an integrated two-stage concept that could simultaneously evaluate the management performances (financing efficiency and business efficiency) of business firms and incorporate the key elements of financial statements and firm’s market value into the measurement model. Third, it proposes a TSSDEA model which combines the two-stage and the stratification DEA models to evaluate the solvency and the profitability of firms and classify the firms by their best-practice frontiers of the set of decision-making units (DMUs). This dissertation aims to provide a way forward for firms in their efforts to improve efficiency and to assist managers in distinguishing the sources of inefficiency and evaluating the financing (or solvency) and business (or profitability) performance more precisely, and thus, create the maximum value for the firms.
