A Study on the Market Structure, Conduct, and Performance of the 3C Distribution Industry
| Autor: | Wen-chin Chang, 張文晉 |
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| Rok vydání: | 2007 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 95 This study uses the physical firms of 3C distribution in Taiwan as empirical objects. We picked Top 20 firms (base on firms or institutions’ operating revenue) in the 3C distribution industry from the 1000 listed or over-the-counter firms as empirical sample. The sampling period is from 2001 to 2005. We use the data form is Panel Data and finally use Two-way fixed effect approach to verify. This study is based on Mason & Bain’s 「Structure-Conduct-Performance」industrial economy theory to research the relationship among structure, conduct and performance of the physical firms of 3C distribution in Taiwan. The result shows that net value ratio, advertising-sales ratio (effect of time lag), gross profit ratio, and inventory turnover all have significantly positive effect on operating performance. On the other hand, advertising-sales ratio (present), and receivables turnover have negative effect on operating performance. Only capital stock introduced in nature logarithm form doesn’t have significant relationship on operating performance. In addition, all of the market structure variables don’t have significant relationship on firm’s conduct variables. The 3C distribution market structure has influent effect on the financial performance. This research thought that the firms of 3C distribution industry follow chain-like and conglomeration inevitably will be under debt financing to integrate the upstream and downstream companies and elaborate benefit of the economies of scale, and then enhance the profit of the firm. If the firms’ debt ratio can control under the most suitable debt ratio, it can have effectiveness of the promotion to the enterprise profit. This research thought the scale benefit about physical firms of 3C distribution industry can affect on the firms’ daily business behavior and know the firms want to pursue the growth of profit under the compression of the gross profit day by day, they must strengthen own competitive ability to reduce the cost structure, strengthen the stock management potency to accelerate the product sale, establish the well mechanism to receive money and execute effectively. The research discovers that if the physical firms of 3C distribution industry penetrate the effective marketing strategy (ex: advertisement) to strengthen different degree of product and sale, it will produce extension of the benefit to have the greatest help to the firms’ profit, and also can establish the enterprise brand and image in the consumer heart. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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