The Influence of Strategic Alliance Types on Firm Innovation Performance – R&D Capabilities as a Moderator.
Yu-Chieh CHAO/Chien-Chang SU
Keywords: Types of Strategic Alliance, R&D Capability, Innovation Performance
In this study , the resource-based theory（Barney , 1991）and the dynamic capabilities view（Teece et al., 1997）are used to investigate the impact of the types of strategic alliances on the firm’s innovation performance . The main research objects are TSEC/OTC-listed firms in the high-technology industry (semiconductor, eletro-optics, and computer peripheral industries) during the period from 2012 through 2014 in Taiwan. Using the analysis of panel data, this study investigates the effect of the types of strategic alliances on firm innovation performance.
This study classified the types of strategic alliances as R&D alliances, marketing alliance, one-to-one alliances, one-to-many alliances, international alliances. Results show that : （1）. One-to-many alliances have the significant positive effect upon innovation performance ; （2）International alliances have the significant positive effect upon innovation performance ; （3）A firm’s R&D capability positively moderates the relationship between R&D alliance and the firm’s innovation performance; that is, when a firm’s R&D capability is stronger, engaging in R&D alliances is positive related to the firm’s innovation performance ; （4）A firm’s R&D capability positively moderates the relationship between marketing alliance and the firm’s innovation performance; that is, when a firm’s R&D capability is stronger, engaging in marketing alliances is positive related to the firm’s innovation performance.
How Dispersion of Online Word-Of-Mouth Influences Post Purchase Dissonance: The Roles of Product Type and Shopping Value
Chia-Yi CHEN/Ting-Yi LU
Keywords: Online Word-of-Mouth, Post-Purchase Dissonance, Product Type, Shopping Value
High dispersion of online word-of-mouth is commonly encountered when customers seek for information to eliminate post-purchase dissonance after consumptions. However, opposite predictions were obtained in literature on how consumer response to dispersion of online word-of-mouth. Some research suggests that because people weight negative information more heavily, higher dispersed online word-of-mouth decreases product evaluation, resulting in greater post-purchase dissonance. Conversely, some other studies maintains that higher dispersion of online word-of-mouth enhances information credibility and product favorability, consequently reduces post-purchase dissonance. In order to resolve the controversial results in previous research, the current study proposes that the relationship between post-purchase dissonance and dispersion in online word-of-mouth is moderated by product type and shopping value. To examined formulated hypotheses, a 2 (dispersion of online word‐ of‐ mouth: high vs. low) × 2 (product type: search vs. experience) × 2 (shopping value: hedonic vs. utilitarian) experimental design was employed. The results showed that when engaging in utilitarian consumption for search goods, higher dispersion of online word‐ of‐ mouth increases post-purchase dissonance. In contrast, higher dispersion of online word‐of‐mouth decreases post-purchase dissonance for hedonic consumption when consuming search goods. On the other hand, when shopping experience goods, post-purchase dissonance is increased corresponding to higher dispersion of online word‐of‐mouth for both utilitarian and hedonic consumption and this effect is stronger in the situation of utilitarian than hedonic consumption.
The Selection of Industrial Value Chain Activities and Its Success Factors of the Confectionary Industry in Taiwan
Henry H.Y. HSIEH/Nien-Ying LIN
Keywords: Confectionery Industry, Industrial Value Chain Activity, Balanced Scorecard, Key Success Factors.
The traditional Confectionery industry encounters the pressure of transformation due to environment dynamics i.e. social structure and customer behavior change. The transformation of Confectionery industry includes changes of industrial value chain activity and business model. This research uses the Balanced Scorecard as theoretical framework of the key success factor and Analytical Hierarchical Process to measure the importance of value activities and their key success factors in this industry. Twenty experts of the academia, the government agency, and the Confectionery industry were interviewed and found that the most important value activity of Confectionery industry in Taiwan is Marketing and Channel activities accounting for 33.1%, Food Source Development activities accounting for 27.3%, Manufacturing activities accounting for 23.2%, and Consumer activities accounting for 16.5%.
The capability required of Food Source Development activities is internal process (33.0%) and learning and growth (28.8%), focusing cognition and innovation. The key success factors of the Food Source Development activities are food safety, brand image, quality management, standard operating procedures, product positioning, innovation and knowledge management. Its business model is “Efficient and innovative orientation”. In the Manufacturing activities the required capability is internal process (33.3%) and customer (25.6%). The key success factors of the Manufacturing activities are market growth rate, risk response, food safety, quality management, standard operating procedures, innovation and knowledge management. Its business model is “Cost and efficient orientation”. In the Marketing and Channel activities the required ability is customer (37.0%) and internal process (24.4%). The key success factors of the Marketing and Channel activities are market growth rate, food safety, brand image, quality management, innovation and knowledge management. Its business model is “Cost and value orientation”. In the Consumer activities the required ability is customer (41.7%). The key success factors of the Consumer activities are market growth rate, food safety, brand image, quality management, innovation and knowledge management. Its business model is “Value orientation”.
This research suggests the Confectionery industry should focus on food safety and develop safe and reliable food ingredients in addition to marketing activities. The capability and key success factors should comply with the focused value activity. In response to the market and consumer dynamics, the industry should continue restructuring its key success factors and capabilities to create a new business model in order to be competitive and sustaining.
There Are a Story in Your Strategy? The Research of Discussing the Type of Narrative Strategy Story from the Perspective of Taxonomy
Daniel Chan-Wei TSAI/Hsin-Yu CHEN
Keywords: Narrative Strategy Story, Strategic Change, Taxonomy
Narrative Strategy Story is a dynamics theory in Strategic Management, and our researches are started from the research about strategic change in 2010. This concept emphasizes the connection between different strategies in different period.
In this paper, we focuses on discussing the type of narrative strategy story from the perspective of Taxonomy, complying Taxonomy to systematically classify 17 cases, allocate and explore the logic of Narrative Strategy Story by organizing and charting them. We hope that by analyzing those cases, the development of Narrative Strategy Story can be more complete, and help entrepreneurs with clear logics to make decisions.
The Impact of Hon Hai’s Merger for Apple Related Stocks – An Event Study Analysis
Tsung-Hao CHEN/Wen-Jun XU
Keywords: Hon Hai, Event Study, Abnormal Return, Cross-Sectional Regression, Apple-Related Stocks
There are huge change in global economy and investment environment and generate an economic downturn in the panel industry. Because Sharp’s brand and technology will not only provide Hon Hai’s big customers-Apple, but also supply more extensive parts application, so Hon Hai want to merge with Sharp. This study wants to analyze the influence of Hon Hai’s merger for Apple-related stocks by Event-Study analysis.
This study takes the Apple concept unit as the research object, the stock price cover from March 27, 2012 to April 02, 2016. The selection of the sample was reported by analysts and accompanied by public news information as the screening of Apple’s conceptual unit; the study filtered a total of 14 enterprises for Apple Concept unit.
The empirical results found there are abnormal return rate about event days of Hon Hai and Sharp signed up. About Hon Hai and Sharp signed up, the average (cumulative) abnormal return rate (CAR) existences negative and remarkable abnormal remuneration after fourteen event day. About the second event day, the average (cumulative) Abnormal return rate (CAR) is significant positive and remarkable abnormal remuneration from after fourteen event days. About the third event day, the average (cumulative) Abnormal return rate (CAR) is significant negative and rise from after thirteen event days slowly.
A Study on the Rationality of Industrial Behavior in Construction Industry
Henry H.Y. HSIEH/Y.L. SU/Y.X. CHEN/Y.T. LIAO/Z.T. HONG
Keywords: Construction Industry, Developer Behavior, Group Irrationality, Oversupply
The behavior of construction industry is influenced by external environment. However the behavior of construction industry is not always rational as expected, in particular high vacancies accompanied with rising housing price or continually increasing approvals and completions. This research based on the Industrial Organization theory examines the behavior of construction industry. A Pooled Cross- Sectional Time-Series of 20 cities and counties in Taiwan during 2006-2015 accounted for 200 observations is studied. Through Ordinary Least Square Regression (OLS) and Two Stage Least Square Regression (2SLS) we found that the construction behavior showed group irrationality and influenced by external environment and events. In addition home buyers also appeared group irrationality in demand side. As a whole, construction industry or real estate market will return basic stressing housing value and differentiation. We suggest that developer should consider environmental or competition dynamic avoiding group irrationality. Also housing buyers should analyze market and industry to counter individual and group irrationality such as herding.
The Impact of M&A Motives and M&A Types on M&A Performance of Taiwan’s High-Tech Firms
Yu-Chieh CHAO/Han-Xin HUANG/Pei-Yin WEN/Pei-Xin CHEN/Qiao-Yun ZHANG/Hui-Wen QIU
Keywords: M&A motives, M&A types, M&A performance
This paper mainly discusses the impact of M&A motives and M&A types on M&A performance of Taiwan’s high-tech firms. The research data are taken from firms and its subsidiaries listed in the Taiwan electronics industry. The data used are from the Taiwan Economic News M&A transaction database and Public information observatory, from 2008 to 2011 for the study period. According to the relevant literatures, this paper puts forward the scope, methods and arguments of this research, and then establishes the research design, then collects the data, organizes the samples and makes the analysis. Finally, the conclusions and suggestions are put forward.
A Study of Grey VAR on Interactive Structure between Stock Return of Investment and Technical Index–An Example of USA Stock Market
Alex K.H. CHANG/Tien-Chih PAI
Keywords: Dow Jones Industrial Average Index, NASDAQ Composite Index, S&P 500 Index, PHLX Semiconductor Index, Technical Analysis, Granger causality, Grey Vector Autoregression Model(GVAR), GM(1, 1)
This research sampled data from USA 4 big index, Dow Jones Industrial Average Index, NASDAQ Composite Index, S&P 500 Index, PHLX Semiconductor Index, Technical Analysis, research during 2010 to 2016. First collect stock price data and calculation technical analysis, and then use GM(1,1) to whiten the original data, and use original data and written data into ADF test inspect whether stable sequence , and then proceed Granger causality test and VAR, To explore between on stock return and technical analysis causal relationship and interactive structure.
The before and after whiten data has causal relationship with technical analysis, but whiten date appear more causal relationship, and before and after whiten data has interactive structure with technical analysis, this research founds, technical analysis can prediction the USA stock market, this study doesn’t support a weak-form efficiency market hypothesis in the USA stock market.