以往衡量企業的價值，大多是以企業的財務指標來衡量；但在今日之科技和知識經濟爆發的環境下，人才是創造及維持企業競爭優勢最重要的一環，也是企業成長之必要因子，而優秀人才，更是企業成敗之關鍵因素。因此傳統以衡量有形資產為核心的財務報表，已經無法完整的評估企業的真實價值，往往忽略了企業內部許多的無形資產，例顧客資本亦是如此，因而導致對企業的評價結果產生很大之偏差。
本研究以某中小型貿易商為研究對象，研究期間為1995年至2009年，期望藉由探討人力資本及顧客資本與企業經營績效之關係，以利企業進行有效率之資源分配。實證結果發現人力資本對於企業績效有正向的影響力，亦即人力資本的提升有助於企業的發展，假說一成立；且本研究證實顧客資本對於企業績效亦有正向的影響力，因此，假說二亦成立。 In the past, a company’s value was usually based on its corporate financial indicators. However, with today’s fast-growing technology- and knowledge-based economy, talent is also one of the key factors in maintaining the company’s competitive advantage. In-house talent has thus become essential to business growth, for it can lead the business to success or failure. Therefore, financial statements have been unable to completely assess the true value of firms. Evaluations based on financial statements and human capital are unable to fully assess the true value of the firm.
In this study, we will focus on a small and medium enterprise (SME) as our subject. Our study period is from 1985 to 2009. By investigating the relationship between human capital, customer capital, and firm performance, companies may gain a better idea regard-ing efficient allocation of resources. Empirical results indicate that human capital is di-rectly proportional to the firm performance of SMEs. Therefore, the hypothesis that human capital has a positive influence on the organization was formed. Moreover, this study demonstrates that customer capital also has a positive influence on firm performance, and this is the second hypothesis that the study established.
