首先本論文在流通業的核心職能的研究是以個案方式進行，此個案研究包含有對企業核心工作人員的訪談，並取得各企業核心資料後，透過因素分析及階層迴歸做為此研究的方法，以測試經理與非經理之核心職能與企業價值的關聯性。在金融產業的核心能力之研究上，本論文同時以財務與非財務兩類因素，並透過帳面價值與市價兩者的差異去測試金融產業的核心能力。 最後利用模型找出半導體產業的價值趨動因子。此企業價值的研究發現金融產業應以無形資產為其核心價值，而非財務因子與市場價值的關連性高過財務因子。 此外半導體產業的人力資本也是企業價值的主要趨動因子。 而在核心職能的研究結果顯示：在內隱的(即無法觀察的)人力資本對企業績效較於外顯的(即可觀察的)人力資本高，其中又以經驗最為顯著。 如果進一步以職位來檢視， 本研究發現，經理與非經理職的核心能力對企業績效有不同的影響程度，其中非經理職的核心職能對企業的績效有直接的影響力。而相對於非經理，經理職的核心職能對企業的績效則沒有影響力。

本論文結論建議，在評估企業價值時不能只以有形資產來衡量，應同時將財報的無形資產項目中無法觀察的智慧資本納入考量。 此外，智慧資本中的財務與非財務因子皆為企業價值的趨動因子，最後在不同職位的核心職能對企業績效的影響上的發現上，可做為流通企業徵才與績效評估的方針。

As the tendency of financial internationalization and liberalization, to improve the company’s value has become an important subject, as such, this thesis aims to evaluate the core value of organizations by conducting empirical test from three different industries. In order to see the whole picture of firm value, this thesis was starting from focusing on core competence that effective on performance and end to look into firm’s core value to explore a macro view of intellectual capital. To complete the whole concept of firm value, this thesis encounters a deeply study in exploring the relationship between core competences and organization performance by conducting a case study on a shopping center. This case study is based on personal interviews and secondary data to test the relationship of core competences, in both management and non-management levels. Factor analysis and hierarchical regression model were used to explore the relationship between performance and competence among employees of the shopping center. This thesis next took both financial and non-financial factors to identify the core value by examining financial service industry. Finally, this thesis introduced Ohlson Model to examine the value driving factor by testing semi-conductor industry.
The findings for the firm value study suggest that, to a company in the financial service industry that focuses its core value on intangible assets, non-financial factors that are related to the company market value are even more important than financial performance. The result from the core competence study pointed that the variables of core competences are positively correlated with organizational performance. The unobservable human capital is more important than the observable resource. Furthermore, among human capital, experience is the most significant. Viewed from the perspectives of job position, management and non-management core competence of employees has different effects on organizational performances.
This study suggest that, in assessing the value of an enterprise, taking into account not only tangible assets, but also need to face up to the financial statement intangible items that unobservable intellectual capital, bath financial and non- financial elements of intellectual capital are likely to be driving firms’ value. The findings also guide the recruitment and performance evaluation of a logistic industry.

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