On the Resource Distribution Policy of Capital expenditure in Wafer Labor Industry－TSMC as an Example

• Main Authors: Chin-Yen Chang, 張錦燕
• Other Authors: Chang-yung Liu
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/8dqj2s

碩士 === 國立中山大學 === 企業管理學系研究所 === 95 === Semiconductor industry, especially IC manafacture has been one of the most important high-tech industries in Taiwan since 1970’s. The first professional wafer Fab, called “wafer labor”, was build up in Taiwan and has currently gained more than 60% market share in the wafer market of the world. This kind of industry is usually characterized as “capital intensity”, “technology intensity” and “short productive life cycle”. Along with the innovation of technology and the internationalization of industry, more and more enterprises have been engaged in the fierce and intensive competition in all senses. Consequently, all of them have to possibly renew and modify their products, facilities and technologies with their limited resources so as to find their own way of making profits constantly. A correct investment decision not only contributes to the constant growth of enterprises, but also helps push up the industrial competitive capacity. Therefore, in the current project, I will try to work out an appropriate method for making investment policy. My concern will basically focuses on the distribution proportion of capital by arguing that the capacity expansion expenditures and research & development expenses are supposed to be included in the capital expenditures of wafer labor industry. However, with regard to the appropriateness of this project, I will also take the so-called “dynamic complexity” into consideration, which is usually characterized by the phenomena of “Information feedback”, “Time delay” and “Non-linearity”. If the capital is limited, the relationship between capacity expansion expenditures and research & development expenses are supposed to be definied as a “trade-off” relationship. The increase of one side will lead to the decrease of the other side and finally leads to in the reduction in profits. Due to the capacity of System Dynamics for sloving the problem of dynamic complexity (Forrester, 1961), I will adopt System Dynamics as the main research method in the current project and to work out an appropriate method for making wafer labor industrial policy. By taking the capital distribution into consideration, I will try to construct a possibly appropriate investment model and herewith make some remarks or suggestions for the investment policy. Some research results will be displayed in the current project: 1. In any case, there is a certain distribution proportion which optimizes the entire profits. The task is to simulate an appropriate one respectively for different scenarios. 2. The increase in the proportion of research & development expenses might lead to the reduction of profits. 3. By using this model, the enterprise can find out the most appropriate policy for distributing the capital and achieving their maximal profit.