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上海交通大学硕士学位论文台湾产业纵向一体化战略演变及产业特性分析姓名：渠立榕申请学位级别：硕士专业：企业管理指导教师：黄丹200801014372000-2005THEANALYSISOFVERTICALINTEGRATIONANDINDUSTRYCHARACTERISTICSDEVELOPMENTINTAIWANINDUSRYABSTRACTVerticalintegrationstrategy,whichdecidesthebusinessboundaries,corecompetencesandcompetitiveadvantages,isoneofthemostsignificantenterprisestrategies.Thedecisionsofverticalintegrationusuallyaccompanywiththegiantinvestmentsanditsqualityandoutcomeoftenplaysanimpressiveroleontheabilityofsuccessfulaccesstocorecompetenceandcompetitiveadvantages,eventothefuturedevelopmentandsurvivalofonefirm.ThemainstreamofverticalintegrationtheoriesaretheIndustrialOrganization(IO)andTransactionCostEconomics(TCE)theories.Mostpriorresearchhasfocusedonthesingleindustryandthedeterminantsoftheverticalintegration.Incontrast,thisstudytriestocombinethedistinguishingfeaturesofthetwomajortheoriesandbreakthelimitationofindustryboundarytobuildupacross-industryframeworkofthebehaviorandvalueofverticalintegration.TheresearchsettingforthestudyaimesatthesixTaiwanManufacturingIndustriesandselectsthe437listedcompaniesamongthoseindustriesastheresearchsamples.Thisstudytakestworoutes:oneistheinnerindustryresearchwhichemploysregressionstatisticstoexaminetherelationshiptheverticalintegrationandfirmperformance;theotheristhecross-industryresearchwhichanalyzesthegreatimpactsonthetrendofeachindustryverticalintegrationdevelopmentduring2000-2005andinducesthefirst-stepcommonindustryfactors.Extractingthesixkeyindustryfactorsfromthefirst-stepcommonindustryandtakethePearson’scorrelationanalysistotesttheinfluenceofindustryfactorsontherelationshiptheindustryverticalintegrationchangebehaviorandvalue.Thetechniquecomplexityandindustryconcentrationaretheeffectiveindustryfactorsofthedeterminantofverticalintegrationtrendandfirmperformance,respectively.Atlast,accordingtotheresearchresult,twopreliminaryhopethesesaredeveloped.KEYWORDSverticalintegrationverticalintegrationtrend,firmperformancecross-industryanalysis-1-11.1200412303.79838.40(H)20051110.676.72(H)2006215143A2004,BP50050015.5120061971%22.68184OML1304550702080-2-80ITIBM2003PCIBMPCPCIBMDellPCIntelHP90PIMS-3-1.2zzzzz-4-1.31.3.17030-401.3.2-5--6-1.3.31-11-1Fig.1-1thetechniqueschememapofthispaper-7-22.1Coase(1937)Porter(1980)Waterson(1984)Avenel&Barlet(2000)Grant(2002)(afirm’sownershipofverticallyrelatedactivities)(NewClassicalEconomics,NCE)(NewInstitutionalEconomics,NIE)(EvolutionaryEconomicsTheory,EET)2.1.1-8-(barrierstoentry)(marketpower)(Mason)(Bain)SCP(Bain,1956,1959)(Stigler,1975)(Schummpeter)S-C-P202.1.2Prahalad&Hamel(1990)(Resource-basedTheory)(tacitknowledge)(replicate)(tacitknowledge)Winter(1987)(codifiability)(techability)(communication)(Zander&Kogut,1995)(buy)(make)-9-(corecompetence)2.1.31937SCP(TransactionCostEconomics,TCE)(Williamson,1971,1975,1983,1985,1996,2000,2004)(PropertyRightsTheory,PRT)(Grossman&Hart,1986;Hart&Moore,1990;Hart,1995)Williamson(1975)Williamson(Williamson,1971)Williamson-10-2.2(1956)(Scherer)S(Structure)-C(Conduct)-P(Performance)S-C-P70SCP-11-(dis-integration)2.3WilliamsonCoase(1937)(boundedlyrational)(risk-12-neutral)(opportunism)(Williamson,1985)(Simon,1957)(risk-averter)(adaptation)(Williamson,1985)(informationasymmetry)(uncertainty)(transactionfrequency)(assetspecificity)(Williamson,1975,1985)Williamson(1985,1996)Williamson(Geyskens,SteenkampandKumar,2006)(transaction-specificasset)(Williamson,1985)(appropriablequasi-rent)Klein,Crawford&Alchian(1978)(quasi-rentvalue)(quasi-rents)(opportunistic)(sitespecificity)(physicalassetspecificity)(humanassetspecificity)(dedicatedassetsspecificity)(goodwillasset-13-specificity)(temporalassetsspecificity)(immobility)(operationrisk)(tangibleasset)(environmentaluncertainty)(behavioraluncertainty)WalkerWeber(1984)(volumeuncertainty)(technologicaluncertainty)(moralhazard)(flexibility)-14-(writingcontract)(negotiatingcost)(monitoringcost)(Williamson,1975)WilliamsonCarterHodgson(2006)(marketgovernance)(hierarchicalgovernance)(relationalgovernance)(makeorbuy)Williamson(1996)(marketfailure)(Williamson,1979)Williamson(1985)MU-15-2.4SPIStrategyPlanningInstitutePIMSProfitImpactofMarketingStrategyPIMSROIUROIROI2000Peyrefitte&Golden(2004)50ROIGalbraith(1983)(within-stage)(between-stage)Geyskens,Steenkamp&Kumar(2006)(LISREL)-16-WilliamsonRothaermel,Hitt&Jobe(2006)1994-19973500(productportfolio)(productsuccess)(performance)(generalizedleastsquare;GLS)(taperintegration)(quasiintegration)Mpoyi&Bullington(2004)Adelman(1955)Davis&Duhaime(1992)(businesssegment)(timeseries)19801997293Carter&Hodgson(2006)27Lieberman(1991)198034(logit)(backwardintegration)(sunk-17-cost)Leiblein&Miller(2003)1996117469(make-or-buy)(product-market)Ruefli&Wiggins(2003)(VarianceComponentAnalysis;VCA)ROA(industryorganization;IO)IterativeKolmogorov-Smirnow(ordinalregressionanalysis)(businessunit)(corporate)(industry)Peyrefitte,Golden&Brice(2002)Argyres(1996)(make-or-buy)-18-2.5Adelman(1955)(VAS)Davies-Morries2.5.1Adelman1955VASVAS-V==ASSPIPIMSProfitImpactofMarketingStrategyVASVASVASVASVASSPIPIMS2000+−+−=VAS-19-Maddigan