在國家經濟發展過程中，對素有「火車頭工業」之稱的營建業佔有相當重要的地位，可引導上下游關聯產業的需求，創造就業機會，與國家發展息息相關。近年來政府不斷實施一連串之打房政策，加上營建原物料價格上漲，對於營建業經營績效的影響乃重要課題。本研究主要探討營建原物料價格與打房政策對營建業經營績效之影響，以台灣證券交易所上市(櫃)56家營建業公司，共計13年728筆資料，進行相關係數及建構多元線性迴歸模型分析。

本研究之實證結果顯示，營建原物料價格對營建業的企業市場績效產生負面的影響；中央銀行打房政策對營建業的企業市場績效產生正面的影響。本研究說明營建業面對政治、經濟、社會、政策與房地產市場環境的改變下，如何作為企業績效評量的引鑑與參考，讓公司企業價值獲得彰顯，利潤亦作為應變市場及經濟趨勢的風險規避，進而改善財務結構增加營運績效。

In the process of national economic development, the construction industry, know as the “locomotive industry”, occupies a very important position, which can guide the demand of upstream and downstream related industries and create employment opportunities, which is closely related to national development. In recent years, the government has continuously implemented a series of housing policies, coupled with the increase in the price of raw materials for construction, which has an important impact on the operating performance of the construction industry. This study mainly explores the impact of construction raw material prices and housing policies on the operating performance of constrctuin industry, and analyzes the correlation cofficients and the construction of multiple linear regression models based on 56 construction companies listed on the Taiwan Stock Exchange(OTC) with a total of 728 data in 13 years.

The empirical results of this study show that the price of construction raw materials has a negative impact on the market performance of construction enterprises; The central bank’s housing policy has a positive impact on the market performance of construction enterprises. This study explains how the construction industry, facing the changes in the political, economic, social, policy and real estate market environment, can be used as a reference for enterprise performance evaluation, so that the company’s enterprise value can be highlighted, and the profit can also be used as a risk aversion to respond to market and economic trends, so as to improve the financial structure and increase operating performance.

一、中文部分
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〔3〕郭健順，「建設業財務評估因子之初步研究」，國立台灣科技大學營建工程技術研究所碩士論文，1998。
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二、英文部分
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