本研究旨在實證探討台商赴中國大陸經營績效變異。實證分析主要依據資源基礎理論 (Resource-Based View，RBV) 與制度理論 (Institutional Theory)；統計模型則採用階層線性模型 (Hierarchical Linear Modeling)。根據銷售利潤率 (ROS)、總資產報酬率 (ROA) 與股東權益報酬率 (ROE) 等3項績效指標的實證結果顯示，不論採用哪項指標，廠商效果對廠商績效變異的解釋力最大，介於20.64~25.06％，其次，依序為產業效果對績效變異的解釋力9.97~15.41％；集團效果的解釋力3.05~3.73％；地區效果的解釋力2.41~3.61％；年效果的解釋力約為0.7％。證實結果指出大陸台商經營績效主要還是由其自身擁有的資源與執行力所主導；大陸台商的經營績效確實會因地區間不同的制度環境、資源稟賦而產生差異。

This study investigates the sources of performance variances among Taiwanese firms in Mainland China. We use Resource-Based View and Institutional Theory as our theoretical basis. As to the statistical model, Hierarchical Linear Modeling (HLM) analysis is applied. Under all performance variables (including ROS, ROA and ROE), firm effects can explain 20.64 to 25.06 percent of variances among Taiwanese firms performance in Mainland China. Industry effects account for 9.97 to 15.41 percent of performance variances. Corporate effects account for 3.05 to 3.73 percent of performance variances. Region effects are found to range from 2.41 to 3.61 percent influence. Year effects, by contrast, are only 0.7 percent. Our study testifies that firms’ performance is decided by their own factors, such as the unique resources and strategies. Besides, region effects have clearly impact on the performance of Taiwanese firms in Mainland China due to the different institutional environment and resources endowment.

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