本文旨在探討台灣地區食品產業是直整合之決定因素，以及垂直整合是否影響食品產業市場績效，並回饋影響市場結構。進行分析時，嘗試引用市場結構 (S)、行為 (C)、績效 (P) 之產業組織方法，架構市場S-C-P的聯立方程式模型，藉實證瞭解食品業的垂直整合經營行為，及其與市場結構、績效間之交互影響性。基本上，本文實證結果指出：食品業的垂直整合經營策略，可提高產業市場集中度，同時增加利潤率，因為透過垂直整合，整合廠商得以掌握原料的供給，同時獲得較完整之市場需求訊息，而增強對產業運作的控制能力，故整合之主要廠商能擴大其市場佔有率，甚至使市場集中於少數廠商手中，而使產業集中度相對提高；另一方面，垂直整合於其產製銷一體經營，能發揮範團經濟，並且降低交易成本，因而提高生產績效，增加利潤率。此外，市場集中度與利潤率都對垂直整合有正面影響效果，顯示屬於不完全競爭之國內食品市場，利潤較高之產業，廠商為獲取更大的市場佔有率或為追求更高的利潤率，亦較會進行垂直整合。

The purpose of this study is to explore the determents of the vertical integrations of firms, and investigate the cause-and -effect of vertical integration with market structure and performance on the food industry in Taiwan. By applying the theory of vertical integration as well as industrial organization approach, we set up the simultaneous equation model to measure the actural effects about the relationships of these variables as shown above. The analytical results have indicated that the degree of market concentration and business profit would increase if vertical integration strategies were adopted by firms. Relatively, the higher degree of industrial market concentration and business profit would tend to promote the behaviors of vertical integration on this industry.