本研究發展一個創新二階段的生產程序模型，藉由資料包絡分析（data envelopment analysis, DEA）來衡量國立大學校務基金之「成本效率」與「教學暨研究成果效率」。除此之外，本研究運用階層資料包絡分析（stratification DEA），將國立大學校務基金之作業績效區分為三個層級，進一步運用變異數分析探究智慧資本（intellectual capital）與績效層級差異的關係。實證結果顯示：一、校務基金兩階段效率之整體技術無效率主要皆歸因於純技術無效率，未來應優先於規模效率提升改善；二、「成本效率」優於「教學暨研究成果效率」，且皆以「一般型」大學校務基金作業績效較佳；三、智慧資本與「教學暨研究成果效率」有顯著關係，亦即智慧資本對校務基金從事學術研究與教學工作上有其重要性。

This study develops an innovative two-stage production process including “cost efficiency” and “teach & research efficiency” using data envelopment analysis (DEA) for assessing the operating performance of national university funds. In addition, this study utilizes the stratification DEA to categorize universities into three groups. One-way ANOVA is used to analyze differences in performances and intellectual capital (IC) variables across the three groups. The empirical results show that: First, the overall technical inefficiencies of national university funds are primarily due to pure technical inefficiencies rather than scale inefficiencies in two-stage production process; Second, cost efficiency is better than and teach & research efficiency for these national universities, especially in general university; Third, the one-way ANOVA also indicates that the IC does play an important role in influencing the operating performance of university funds of national universities in the teach & research performance model.