本研究運用Seiford and Zhu (1999)所發表的兩階段資料包絡分析法，探討2009年到2012年間兩岸19家大型線上遊戲廠商在不同階段的經營效率，投入變數與產出變數的負值部分依照Ali and Seiford (1990)的方式進行平移調整。實證結果發現：台灣線上遊戲廠商於第一階段(生產效率)呈現下降的趨勢，而中國大陸線上遊戲廠商則呈現上升的情況，兩岸線上遊戲廠商於第二階段(獲利效率)及總合效率上均呈現上升的趨勢。此外使用Tobit迴歸模式探討影響線上遊戲廠商經營效率之因素。實證結果發現，在第一階段生產效率方面，成立年數對第一階段與總合效率均有顯著的正向影響，研發密集度對第一階段、第二階段與總合效率均呈現顯著的正向影響，負債比率對第一階段呈現顯著的負向影響，中國大陸相較於台灣具有區位上的優勢，有利於線上遊戲廠商在生產效率上的提升，廠商規模及行銷密集度對第一階段與總合效率有顯著的負向影響。最後，利用BCG矩陣提供線上遊戲廠商有用的決策資訊。

This study employs the two-production-stage data envelopment analysis (DEA) proposed by Seiford and Zhu (1999), in order to measure the efficiency of nineteen online game companies in Taiwan and mainland China during 2009-2012. The approach for adjusting negative inputs or outputs proposed by Ali and Seiford (1990) is adopted. The empirical result shows that online game companies in Taiwan show a downward trend in the first stage (production stage); however, online game companies in mainland China show an upward trend in production efficiency. Online game companies on both sides have upward trend in both the second (profits stage) and aggregation stage. Besides, the Tobit regression model is used to estimate the effects of environmental variables on efficiency. The result shows that founding years positively influence efficiency in both the first stage and aggregation stage. The R&D intensity positively influences efficiency in among the first stage, the second stage and aggregation stage. The liability ratio negatively influences efficiency in first stage. Compared to those in Taiwan, online game companies in mainland China’s benefit from locational advantage. Marketing intensity and firm size negatively influence efficiency in both first stage and aggregation stage. At last, this study employs BCG matrix for providing useful decision-making information.