資訊科技（Information Technology, IT）的投資對企業來說意義重大，但其與公司風險間的關聯性目前尚未有定論。近年來，隨著政府越來越重視產業數位轉型，台灣半導體業的整體資訊科技IT投資大幅增加。因此，本研究以2013年至2020年台灣上市櫃半導體相關企業為對象，探討IT投資已與企業經營風險的關聯性，並觀察財務彈性（Financial Flexibility, FF）對於企業IT投資和企業經營風險的調節作用。實證結果發現，半導體業IT投資與企業經營風險間並無顯著關聯性，然而當財務彈性提升時，IT投資有助於降低企業經營風險。

Information Technology (IT) investment is significant to companies, but its relevance to corporate risk is not yet conclusive. In recent years, with the country’s increasing emphasis on digital transformation, the overall IT investment in Taiwan's semiconductor industry has increased significantly. Therefore, this study examines the correlation between IT investment and firm risk for semiconductor-related companies listed in Taiwan from 2013 to 2020 and observes the moderating effect of financial flexibility (FF) bwtween them. The empirical results show that there is no significant correlation between IT investment and firm risk in semiconductor industry; however, when financial flexibility is increased, IT investment helps to reduce firm risk.

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