製造業向來是影響我國經濟體的產業根本。製造業可區分為四大製造產業，以資訊電子業所占其GDP比率最高，因此若能掌握資訊電子業之績效，對我國經濟發展將有極大助益。本研究從生命週期探究時間、廠商與產業等三項效果對於公司的影響。以ROA當作績效變數衡量經營績效，利用階層線性模型(HLM)統計方法進行研究分析。實證結果顯示，時間與廠商效果為影響企業之主要原因。有別於以往研究廠商效果在成長期為最高，隨時間慢慢遞減的結論，資訊電子業顯示廠商效果在成熟期為最有影響。，因此公司位於成長期時，應培養良好的銷售成長及資源，持續創造更高的利潤，並發展核心能力。到成熟期時，才有足夠的資金研發獨有技術，讓產品產生差異化，使公司獲利水準上升，擁有持續的競爭優勢。

Manufacturing has always been one of the major industries that affect our economy. Among them, it can be divided into four major industries, and especially for the Information Technology Industry , it has the highest ratio of GDP. Therefore, if we can look deeper into performance of the Information Technology Industry, We can improve our economic development. This study uses the perspective of the Life Cycle Theory, try to explore how the Time, Firm, and Industry effects affect the company at each life cycle stage. ROA is used as a performance variable to measure business performance. Use the Hierarchical Linear Model (HLM) Statistical Methods for research and analysis. Finally, the empirical results show that Time and Firm effect are the main factors affecting the company. The result is different from the previous research that the firm effect is highest in the growth and Monotonically decline in decline stage. The Information Technology Industry shows that the firm effect has the most influential time is in the mature period. Therefore, when the company is in the growth stage, it should cultivate good Sales growth and resources, continue to create higher profits and develop core competencies. By the time of maturity, there will be sufficient funds to develop unique technologies to differentiate products, increase the profitability of the company, and have a sustainable competitive advantage.

中文文獻
方湘茹(2011)。時間、企業、集團與產業效果對台灣集團企業績效變異的影響—階層線性模型之應用(碩士論文)。國立台灣科技大學企業管理所。
王莙涵(2010)。廠商、策略群組與產業及各層級策略變數對廠商績效變異的影響—以階層線性模型探討之(碩士論文)。國立台灣科技大學企業管理所。
廖婉君(2008)。廠商、策略群、產業對台灣製造業獲利影響分析(碩士論文)。國立台灣科技大學企業管理所。
李彥毅(2014)。從生命週期觀點探討台灣集團企業績效變異之影響—以階層線性模型探討之(碩士論文)。國立台灣科技大學企業管理所。
吳明隆(2009)。SPSS操作與應用：問卷統計分析實務。台北市：五南。
林永權(2014)。產業生命週期演變下企業經營策略之研究：汽車產業之實證探索。(博士論文)國立嘉義大學管理學院企業管理所
邱政家(2016)。台灣銀行業經營績效變異之研究：階層線性模型分析的應用(碩士論文) 國立台灣科技大學企業管理所。
邱皓政(譯)(2006)。多層次模型分析導論(原作者：Ita Kreft,Jan de Leeuw)。台北市：五南圖書出版公司。(原著出版年：1998)
孟佳樺(2016)。時間、廠商與產業效果在不同生命週期之下對台灣企業績效變異之影響—階層線性模型之應用(碩士論文)。國立台灣科技大學企業管理所。
徐羽令(2011)。企業集團對台灣廠商經營重要性之研究—階層線性模型的應用(碩士論文)。國立台灣科技大學企業管理所。
戚靜玟(2006)。台灣製造業獲利變異解析之研究(博士論文) 國立台灣科技大學企業管理所。
戚靜玟(2011)。台灣服務業企業績效變異解析之研究。台灣金融財務季刊，12-1，75-104．
陳天志(財務金融系)不同企業生命週期下融資策略之研究。(教專研98P-028)
郭易晴(2011)。廠商、策略群組與產業效果對廠商績效變異的影響–以企業的生命週期為例。國立台灣科技大學企業管理所。
黃揚智(2017)。台灣銀行業動態策略群組之研究：階層線性模型分析的影用(碩士論文) 國立台灣科技大學企業管理所。
溫福星、邱皓政(2009)，多層次模型方法論：階層線性模式的關鍵議題與試 題。台北管理論叢，第19卷第二期，頁263-294。
廖芳儀(2015)。台灣國際觀光旅館業經營績效變異之研究：階層線性模型之應用(碩士論文)。國立台灣科技大學企業管理所。
蔡旻珊(2015)。台灣醫院經營績效變異之研究：階層線性模型分析的應用(碩士論文) 國立台灣科技大學企業管理所。
劉政淮、陳俊合、張竹淵(2012。)以企業生命週期論析盈餘及其組成持續性。(台灣管理學刊，第12卷 第2期)
劉若蘭、許永聲、劉力維(2014)。在不同生命週期下董事會組成特性對公司經營績效之影響。會計評論，58，133-165。
鄭哲惠、王兼善、張嘉文(2015)。現金流量資訊衡量電子業的企業生命週期之概況：兼論其對盈餘攸關性之影響(東吳經濟商學學報 第九十一期)
英文文獻
Acquaah,M. (2003).Corporate Management, Industry Competition and the Sustainability of Firm Abnormal Profitability. Journal of Management and Governance，7(1) , 57-85
Adizes, I . (1996, Oct 1996). The10 stage of corporate life cycles.Inc,18,95
Ander , R., and Helfat, C.E (2003).Corporate effects and dynamic managerial capabilities.Strategic Management Journal,24 (10),1011-1025.
Anthony, J.H., &Ramesh, K. (1992). Association Between Accounting Performance Measures and Stock Prices：A test of the Life Cycle Hypothesis . Journal of Accounting & Ecnomics,15(2,3),203.
Bain, Joe S. (1968). Industrial Organizational. Lexington ,KY：Wiley &Sons, Incorporated ,John
Barnett, W.P.,Greve, H R.,&Park,D.Y. (1994).AN EVOLUTIONARY MODEL OF ORGANIZATIONAL PERFORMANCE. Strategic Management Journal,(1986-1988),15(SPECIAL ISSUE),11.
Barney, J. (1991).Firm Resources and Sustained Competitive Advantage. Journal of Management,17(1),99
Barney, J.B. (1986).STRATEGIC FACTOR MARKETS：EXPECTATIONS, LUCK, AND BUSINESS STRATEGIC. Management Science(1986-1998),32(10),1231.
Bowman,E.H., and Helfat,C.E. (2001).Does corporate strategy matter? Strategic Management Journal,22(1),1
Brush, T.H., and Bromiley, P. (1997).WHAT DOES A SMALL CORPORATE EFFECT MEAN?A VARIANCE COMPONENTS SIMULATION OF CORPORATE AND BUSINESS EFFECT. Strategic Management Journal, (1986-1998),18(10),825
Carney,M.,Gedajlovic,E,R., Heugens, P.P.M.A.R., Van Essen,M., & Van Oosterhout,J. (2011) Oosterhout, J. BUSINESS GROUP AFFILIATION,
PERFORMANCE ,CONTEXT,AND STRATEGY：A META-ANALYSIS. Academy of management Journal,54(3),437
Choi, D. and Philippatos, G. C. (1984)Post merger performance among homogenous firm samples.Financial Review, 19, 173-94
Dickinson, V. (2011). Cash Flow Patterns as a Proxy for Firm Life Cycle. The Accounting Review, 86(6),1969-1994
Goldszmidt ,R. G. B.,Brito,L.A.L.,&de Vasconcelos,F.C. (2011).Country effect on firm Performance：A multilevel approach.Journal of Business Research,64(3)
,273-279
Hawawini, G., Subramanian, V.,& Verdin,P. (2003). Is performance driven by industry- or firms-specific factors? A new look at the evidence. Strategic Management Journal, 24(1)1-16
Hiderbrand,D.K.,Laing,J.D.,&Rosenthal,H. (1977).Prediction analysis of cross Classification：Wiley New York.
Karniouchina, E. V., Carson, S. J., Short ,J. C.,&Ketchen,D.J. (2013).Extending the firm vs. industry debate：Does industry life cycle stage matter? Strategic Management Journal,34(8) ,1010-1018.
Kazanjian,R.K.,&Drazin,R. (1989).An empirical Test Of A Stage Of Growth Progression Model.Management Science,35(12),1489.
Liao,W.-C.,Shyu,J.,&Szu-Min,C. (2014).A corporate life cycle analysis on the relationship between ownership structure and performance：Evidence from the Taiwan stock exchange. Asia Pacific Management Review,19(2),179-n/a
Lindenberg, E.B.and Ross, S. A. (1981)Tobin’q and industrial organization. Journal of Business,54,1-32
Mauri,A.J.,&Micheals,M.P. (1998).Firm and Industry effects within strategic Management：An empirical examination. Strategic Management Journal,19(3)
McGahan ,A. M., &Porter,M.E. (1997).HOW MUCH DOES INDUSTRY MATTER, REALLY? Strategic Management Journal (1986-1998),18(Summer Special Issue),15
McGahan ,A. M., &Porter,M.E. (2002). What do we know about variance in accounting profitability? Management Science,48(7), 834-851
McNamara ,G.,Aime,F.,&Valer,P.M. (2005).Is performance driven by industry- or firm-specific factors? A response to Hawawini,Subramanian, and Verdin. Strategic Management Journal,26(11),1075-1081.
Misangyi,V., Helms,H., Greckhamer ,T.,and Lepine,J. (2006)A new perspective on a Fundamental debate：a multilevel approach to in industry , corporate,and Business unit effect. Strategic Management Journal,27(6),pp.571-590
Pashley,M.M.,&Philippatos,G.C. (1990). Voluntary Divestitures and Corporate Life-Cycle：Some Empirical Evidence. Applied Economics,22(9),1181
Raudenbush ,S.W. and Bryk,A.S (2002).Hierarchical Linear Models(Second Edtion). Thousand Oaks：Sage Publics,R.L.,&Westfall,P.A. (1996). Markets vs. management：What drives profitability? Strategic Management Journal,17(8),653
Rumelt,R.P. (1991).HOW MUCH DOES INDUSTRY MATTER? Strategic Management Journal (1986-1998), 12(3), 167
Ruth Bender and Keith Ward (2002).Corporate financial strategy(Second Edition), Amsterdam,Boston：Butterworth/Heinemann
Schmalensee, R. (1985).Do markets differ Much?The American Economic Review,75(3) , 341-351
Sea-Jin, C.,&Singh,H. (2000).CORPORATE AND INDUSTRY EFFECTS ON BUSINESS UNIT COMPETITIVE POSITION. Strategic Management Journal,21(7),739
Shepherd, W. G. (1972)The elements of markets structure. Review of Economics and Statistics, 54, 25-37
Short,J.C.,Ketchen,D.J.,Jr.,Bennett,N., and Mathilda du, T. (2006).An Examination of firms, Industry,and Time Effects on Performance Using Random Coefficients Modeling. Organizational Research Methods, 9(3),259-284
Short,J.C.,Ketchen,D.J., Palmer, T.B., and Hult, G.T.M. (2007).Firm strategic group, and industry influences on performance. Strategic Management Journal,28(2) 147-167.
Smith,K.G.,Mitchell,T.R.,&Summer,C.E. (1985).TOP Level Management Priorities in Different Stages of the Organizational Life Cycle. Academy of Management Journal,28(4),799
Thomadakis, S.B. (1977)A value-based test of profitability and market structure. Review of Economics and Statistics, 59, 179-85.
Wernerfelt , B. (1984).A Resource-based View of the Firm. Strategic Management Journal (pre-1986),5(2),71
Wernerfelt , B.,& Montgomery,C.A. (1988).Tobin’s Q and the Importance of Focus In Firm Performance. American Economic Review,78(1), 246