姓名 郭博文(Po-Wen Kuo) 查詢紙本館藏 畢業系所 企業管理學系 論文名稱 從財務報表與資源轉換流程觀點利用整合性兩階段資料包絡分析衡量企業相對績效
(Utilization of an Integrated Two-Stage DEA Model for Measuring Relative Performance from Financial Statements and Resource Transformations in Business Processes)
檔案 [Endnote RIS 格式] [Bibtex 格式] 至系統瀏覽論文 ( 永不開放) 摘要(中) 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。
摘要(英) 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.
關鍵字(中) ★ 企業流程
關鍵字(英) ★ Solvency
★ Business process
★ Resource transformation
★ Financing performance
★ Business performance
★ Integrated two-stage data envelopment analysis
★ Financial statement
★ Stratification DEA
論文目次 ABSTRACT I
LIST OF FIGURES V
LIST OF TABLES VI
CHAPTER 1 INTRODUCTION 1
1.1 Research Background and Motivation 1
1.2 Research Objectives 4
1.3 Organization of the Dissertation 6
CHAPTER 2 LITERATURE REVIEW 7
2.1 Ratio Analysis 7
2.2 Data Envelopment Analysis 10
2.3 Development of the Two-Stage DEA Model 12
2.4 Classification of a Set of DMUs 16
CHAPTER 3 RESEARCH DESIGN 20
3.1 Business Processes and Financial-Statement Model 20
3.2 Research Methodology 27
3.2.1 Integrated Two-Stage Network DEA Model 27
3.2.2 Stratification DEA Method 28
CHAPTER 4 MEASURING THE FINANCING AND BUSINESS PERFORMANCE OF ICT INDUSTRY 30
4.1 Research Background 30
4.2 Data and Measurement of Variables 32
4.3 The Empirical Model 35
4.3.1 Integrated Two-Stage DEA Model (Model I) 35
4.3.2 Integrated Value-Based Two-Stage DEA Model (Model II) 36
4.3.3 Setting the Market Values as the Weights for Model II 38
4.4 Results 42
4.5 Comparison with Conventional DEA (Standard DEA) 45
4.6 Relationship between Efficiency Performance and Accounting Measures 47
4.7 Managerial Decision-Making Matrix 53
CHAPTER 5 CLASSIFYING AND EVALUATING THE SOLVENCY AND PROFITABILITY OF ICT FIRMS 58
5.1 Research Background 58
5.2 Data and Measurement of Variables 58
5.3 The TSSDEA Model and the Algorithm 59
5.4 Results and Discussion 62
5.4.1 Results 62
5.4.2 Relationship between Efficiency Performance and Financial Ratios 66
CHAPTER 6 CONCLUSIONS 72
6.1 Concluding Remarks 72
6.2 Recommendations for Future Research 75
參考文獻 Abad, C., Thore, S. and Laffarga, J. (2004) “Fundamental analysis of stocks by two-stage DEA”, Managerial and Decision Economics, Vol. 25, pp. 231-241.
Ahmad, N., Berg, D. and Simons, T. G. (2006) “The integration of analytical hierarchy process and data envelopment analysis in a multi-criteria decision-making problem”, International Journal of Information Technology and Decision Making, Vol. 5, No.2, pp. 263–276.
Aleskerov, F., Ersel, H. and Yolalan, R. (2004) “Multicriterial ranking approach for evaluating bank branch performance”, International Journal of Information Technology and Decision Making, Vol. 3, No.2, pp. 321–335.
Ali, A. I. and Seiford, L. M. (1990) “Translation invariance in data envelopment analysis”, Operations Research Letters, Vol. 9, pp. 403-405.
Altman, E. I., (1968) "Financial ratios, discriminant analysis and the prediction of corporate bankruptcy", Journal of Finance, Vol. 23, No. 4, pp. 589-609.
Andersen, P. and Petersen, N. C., (1993) “A procedure for ranking efficient units in data envelopment analysis”, Management Science, Vol. 39, pp. 1261–1264.
Banker, R. D., Charnes, A. and Cooper, W. W. (1984) “Some models for estimating technical and scale efficiencies in data envelopment analysis”, Management Science, Vol. 30, pp. 1078–1092.
Banker, R. D. and Gifford, J. L. (1988), A Relative Efficiency Model for the Evaluation of Public Health Nurse Productivity, School of Urban and Public Affairs, Carnegie Mellon University.
Beaver, W. H. (1966) “Financial ratios as predictors of failure”, Journal of Accounting Research, Vol. 4, No. 3, pp. 71-111.
Beaver, W. H. (1968) "Alternative accounting measures as predictors of failure", The Accounting Review, Vol. 43, No. 1, pp. 113-122.
Berger, A. N. and Humphrey D. B. (1997) “Efficiency of financial institutions: international survey and directions for future research”, European Journal of Operational Research, Vol. 98, No. 2, pp. 175-212.
Brockett, P. L., Cooper, W.W., Golden, L., Rousseau, J. and Wang Y. (1997) “DEA evaluation of the efficiency of organizational forms and distribution systems in the US property and liability insurance industry”, International Journal of Systems Science, Vol. 29, pp. 1235-1247.
Brockett, P. L., Cooper, W. W., Golden, L., Rousseau, J. and Wang Y. (2004) “Evaluating solvency versus efficiency performance and different forms of organization performance and marketing in US property-liability insurance companies”, European Journal of Operational Research, Vol. 54, pp. 492-514.
Chang, D. S., Kuo, Y. C. and Chen, T. Y. (2008) “Productivity measurement of the manufacturing process for outsourcing decision: the case of a Taiwanese printed circuit board manufacturer”, International Journal of Production Research, Vol. 46, No.24, pp. 6981-6995.
Charnes, A., Cooper, W. W., Lewin, A. Y. and Seiford, L. M. (1994), Data Envelopment Analysis: Theory, Methodology, and Application, Kluwer Academic Publishers, U.S.
Charnes, A., Cooper, W. W., Lewin, A. Y. and Seiford, L. M. (1997), Data Envelopment Analysis: Theory, Methodology, and Application, Kluwer Academic Publishers, U.S.
Charnes, A., Cooper, W. W., and Rhodes, E. (1978) “Measuring the efficiency of decision making units”, European Journal of Operational Research, Vol. 2, No.6, pp. 429–444.
Charnes A., Cooper W. W., Golany B., Halek R., Klopp G., Schmitz E., Thomas D. (1986) “Two phase data envelopment analysis approach to policy evaluation and management of army recruiting activities: tradeoffs between joint services and army advertising”, Research Report CCS. 532. Center for Cybernetic Studies, The University of Texas at Austin, Texas.
Chen, Y. and Zhu, J. (2004) “Measuring information technology’s indirect impact on firm performance”, Information Technology and Management, Vol. 5, pp. 9–22.
Chen, Y. and Zhu, J. (2001) “Measuring information technology’s indirect impact on firm performance”, Proceedings of 6th INFORMS Conference on Information System & Technology.
Chen, Y., Liang, L. and Zhu, J. (2009) “Equivalence in two-stage DEA approaches”, European Journal of Operational Research, Vol. 193, pp. 600–604.
Chen, Y., Motiwalla, L. and Riaz Khan, M. (2004) “Using super-efficiency DEA to evaluate financial performance of e-business initiative in the retail industry”, International Journal of Information Technology and Decision Making, Vol. 3, No. 2, pp. 337–351.
Cheng, T. W., Wang, Y. R., Hwang, J. F. and Lin, W. Y. (2011), Principles of Accounting, 12th Edition, Self-publishing, Taipei.
Chiang C. Y. and Lin, B. (2009) “An integration of balanced scorecards and data envelopment analysis for firm’s benchmarking management”, Total Quality Management, Vol. 20, No. 11, pp. 1153–1172.
Coelli, T., Rao D. and Battese, G. (1997) An Introduction to Efficiency and Productivity Analysis, Kluwer Academic Publishers, Boston.
Cook, W. D., Zhu, J. and Liang, L. (2010) “Measuring performance of two-stage network structures by DEA: a review and future perspective”, Omega, Vol. 38, pp. 423-430.
Cook W. D. and Zhu, J. (2005), Modeling Performance Measurement: Applications and Implementation Issues in DEA, Springer Science + Business Media, Inc., Boston.
Cooper, W. W., Seiford, L. M. and Tone, K. (2000), Data Envelopment Analysis, 1st edition, Kluwer Academic Publishers, U.S.
Espitia-Escuer, M. and García-Cebrián, L. I. (2006) “Performance in sports teams: results and potential in the professional soccer league in Spain”, Management Decision, Vol. 44, No. 8, pp. 1020-1031.
Färe, R. and Grosskopf, S. (2000) “Network DEA”, Socio-Economic Planning Sciences, Vol. 34, pp. 35–49.
Farrell, M. J. (1957) “The measurement of productive efficiency”, Journal of the Royal Statistical Society, Series A, CXX, Part 3, pp. 253-290.
Feroz, E. H., Kim, S. and Raab, R. L. (2003) “Financial statement analysis: a Data Envelopment Analysis approach”, Journal of the Operational Research Society, Vol. 54, No. 1, pp.48-58.
Foster, G. (1986), Financial Statement Analysis, 2nd edition. Prentice-Hall. Englewood Cliffs, NJ.
Ghosh, R. (2005) “Theory and Application of Productivity and Efficiency: Econometric and DEA Approach”, in Ghosh, R. and Neogi, C. (Ed), Theory and Application of Productivity and Efficiency, Macmillan India Ltd., New Delhi.
Ho, C. T. and Oh, K. B. (2008) "Measuring online stockbroking performance", Industrial Management and Data Systems, Vol. 108, No. 7, pp. 988-1004.
Hughes, J. S., Hoskin, R. E., Frances, L. and Ayres, F. L. (2004), Financial Accounting: A Valuation Emphasis, Wiley, John & Sons, Incorporated.
Hwang, S. N. and Kao, T. L. (2008) “Using two-stage DEA to measure managerial efficiency change of non-life insurance companies in Taiwan ”, International Journal of Management and Decision Making, Vol. 9, No. 4, pp. 377-401.
Kao, C. and Hwang, S. N. (2011) “Decomposition of technical and scale efficiencies in two-stage production systems”, European Journal of Operational Research, Vol. 211, pp. 515-519.
Kao, C. and Hwang, S. N. (2008) “Efficiency decomposition in two-stage Data Envelopment Analysis: an application to non-life insurance companies in Taiwan”, European Journal of Operational Research, Vol. 185, pp. 418–429.
Köksalan. M. and Tuncer C. (2009) “A DEA-based approach to ranking multi-criteria alternatives”, International Journal of Information Technology and Decision Making, Vol. 8, No.1, pp. 29–54.
Lee, C. K. and Saxenian A. (2008) “Coevolution and coordination: a systemic analysis of the Taiwanese information technology industry”, Journal of Economic Geography, Vol. 8, pp.157–180.
Lewin, A. Y. and Minton, J. W. (1986) “Determining organizational effectiveness: another look, and an agenda for research”, Management Science, Vol. 32, pp.514-553.
Li, H. Y. and Zhu, J. (2005) “Ranking the efficiency performance within a set of decision making units by data envelopment analysis”, International Journal of Information Technology and Decision Making, Vol.4, No.3, pp. 345–357.
Lu, W. M. and Hung, S. W. (2008) “Benchmarking the operating efficiency of global telecommunication firms”, International Journal of Information Technology and Decision Making, Vol.7, No.4, pp. 737–750.
Luo, X. (2003) “Evaluating the profitability and marketability efficiency of large banks: an application of data envelopment analysis”, Journal of Business Research, Vol. 56, pp. 627-635.
Meigs, R. F. and Meigs, W. B. (1993), Accounting: The Basis for Business Decisions, 9th edition, McGraw-Hill, International edition.
Needles, B. E. and Powers, M. (2004), Financial Accounting, 8th edition, Houghton Mifflin, U.S.
Norman, M. and Stoker, B. (1991), Data Envelopment Analysis: The Assessment of Performance, John Wiley & Sons Publishers.
Ostrom, E., Gardner, R. and Walker, J. (1994), Rules, Games, and Common-Pool Resources, University of Michigan Press, U.S.
Reding, K. F., Sobel, P. J., Anderson, U. L., Head, M. J., Ramamoorti, S., Salamasick M. and Riddle, C. (2009), Internal Auditing: Assurance and Consulting Services, 2nd Edition. The Institute of Internal Auditors Research Foundation.
Rodríguez-Pérez, G., Slof, J., Solà, M., Margarita, T. and Vilardell, I., (2011) “Assessing the impact of fair-value accounting on financial statement analysis: a data envelopment analysis approach “, Abacus, Vol. 47, No. 1, pp. 61-84.
Ross, A. S., Westerfield, R. W., Jaffe J. (1999), Corporate Finance, McGraw-Hill Publishing Company.
Seiford, L.M. and Zhu, J. (1999) “Profitability and marketability of the top 55 U.S. commercial banks”, Management Science, Vol. 45, No. 9, pp. 1270-1288.
Seiford, L.M. and Zhu, J. (2003) "Context-dependent data envelopment analysis - Measuring attractiveness and progress", Omega, Vol. 31, No. 5, pp. 397-408.
Sexton T. R. and Lewis, H.F. (2000) “Two-stage DEA: an application to Major League Baseball”, Working Paper. State University of New York at Stony Brook.
Sexton T. R. and Lewis, H.F. (2003) “Two-stage DEA: an application to Major League Baseball”, Journal of Productivity Analysis, Vol. 19, pp. 227–249.
Smith, P. (1990) “Data Envelopment Analysis applied to financial statements”, Omega, Vol. 18, No. 2, pp. 131-138.
Taffler, R. J. (1982) “Forecasting company failure in the UK using discriminant analysis and financial ratio data”, Journal of the Royal Statistical Society, Vol. 145, No 3, pp. 342-358.
Thanassoulis, E., Boussofiane, A and Dyson, R. G. (1996) “A comparison of Data Envelopment Analysis and ratio analysis for performance assessment”, Omega, Vol. 24, No. 3, pp.229-244.
Thore, S, Kozmetsky G and Phillips F. (1994) “DEA of financial statements data: The U.S. computer industry”, Journal of Productivity Analysis, Vol. 5, No.3, pp. 229–248.
Thore, S, Phillips F, Ruefli R.W. and Yue P. (1996) “DEA and the management of the product cycle: the computer industry”, Computers and Operations Research, Vol. 23, No.4, pp. 341–356.
Thore, S. (1996) “Economies of scale, emerging patterns, and self-organization in the U.S. computer industry: an empirical investigation using data envelopment analysis”, Journal of Evolutionary Economics, Vol. 6, No.2, pp.199–216.
Vrat, P., Sardana, G. D., Sahay B. S. (2009), Productivity Measurement for Business Excellence, Alpha Science International Ltd., U.K.
Wang, C. H., Gopal, R. D., Zionts, S. (1997) “Use of data envelopment analysis in assessing information technology impact on firm performance”, Annals of Operations Research, Vol. 73, pp.191–213.
Weetman, P. (1996), Financial and Management Accounting: An Introduction, Financial Times/Prentice Hall Books.
Whittington G. (1980) “Some basic properties of accounting ratios”, Journal of Business Finance and Accounting, Vol. 7, No. 2, pp. 219–232.
Wild, J. J., Shaw, K. W., Chiappetta, B. and Kwok, W. (2011), Principles of Accounting Including IFRS, 20th edition, McGraw-Hill/Irwin, N.Y.
Yang, Z. (2006) “A two-stage DEA model to evaluate the overall performance of Canadian life and health insurance companies”, Mathematical and computer modelling, Vol. 43, pp.910-919.
Yang, Z. (2009) “Bank branch operating efficiency: a DEA approach”, Proceedings of the International MultiConference of Engineers and Computer Scientists 2009 Vol II, IMECS 2009.
Yeh, Q. J. (1996) “The application of Data Envelopment Analysis in conjunction with financial ratios for bank performance evaluation”, Journal of the Operational Research Society, Vol. 47, pp.980-988.
Zhu, J. (2000) “Multi-factor performance measure model with an application to Fortune 500 companies”, European Journal of Operational Research, Vol.123, pp.105-124.
指導教授 張東生(Dong-Shang Chang) 審核日期 2011-12-26 推文 facebook plurk twitter funp google live udn HD myshare reddit netvibes friend youpush delicious baidu