本研究旨在探討原油價格、匯率、原料價格與丙烯腈-丁二烯-苯乙烯聚合物(ABS)製造商之營運績效之關係。台灣產業面臨的困境在於原料無法充份取得，而原料價格又受到原油價格、匯率連動影響，而公司營運績效在原油價格上漲至天價、台幣對美元匯率貶至相對低點時，原料價格亦同步走升至高點時，ABS製造商之營運績效均受到極大影響，導致營運績效表現出現為本研究所擷取之時間週期之最低檔，甚至為負值。惟經本研究實證分析後發現ABS之主要原料僅苯乙烯(Styrene Monomer)確實對於ABS製造商之總資產報酬率、股東權益報酬率、毛利率、淨利率、營業利益率均有顯著影響。

This thesis is to study how the change of crude oil price, foreign exchange and raw material effect the ABS resin manufacturers’ operation performance. The delimma of Taiwanese industries is facing the difficulty to get enough raw material, and the price of raw m aterial is affected by the crude oil and foreign exchange consequectly. When crude oil price rising to the highest and NT dollar to US dollar exchange rate devaluating the low position and raw material price rising in the meantime, the performance of ABS manufacturers are extremely affected.
This study analyzes the profitability ratios to evaluation of performance of Indian automobile industry. The objective of the study is to analyze the financial performance of the selected Automobile companies with regard to various profitability indicators. The results obtained from the study showed that SM, the main raw material of ABS resin, indeed obviously affect the return on asset, return on equity, return on sales, margin and net profit margin. In accordance to the regression results , there are statistical obvious results of SM on ABS companies’ return on asset , retrun on equity, return on sales , margin , net profit margin, in conformity with the expectation of the study.

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