电信产业之轻资产营运与竞争优势.doc

实用标准文案 精彩文档 2009年健康與管理學術研討會 民國九十八年十一月 電信產業之輕資產營運與競爭優勢 Asset-Light Operations and Competitive Advantage in the Telecommunications Industry 劉芬美 1Fen-May Liou 唐瓔璋 2 Ying-Chang Tang 元培科技大學企業管理系 國立交通大學經營管理研究所 劉子華 1* 通訊作者( * 通訊作者(Corresponding author)。 元培科技大學企業管理系 1 Department of Business Administration, Yuan Pei University, Hsin Chu 30015, Taiwan, R.O.C. and 2 Institute of Business and Management, National Chiao Tung University,Taipei 10012, Taiwan 摘要： 本研究分析無線電信及整合型電信企業之輕資產營運與競爭優勢之關係。本研究將競爭優勢定義為企業獲取高於虛設正常(影子)報酬率之超額報酬率的能力，首先推導企業之輕資產價值與企業績效之兩種關係為：(1)資產「較輕」之企業擁有較優績效；(2)擁有較多「輕資產」之企業達到較優績效，繼而進行實證分析。結果顯示，(1)對研究中的兩個產業而言，輕資產價值愈高之企業，其營業利益愈高；(2)資產愈「輕」的企業，愈具競爭優勢，且「輕」資產程度對無線電信產業競爭優勢之影響，大於整合型電信服務產業。 關鍵字：競爭優勢、輕資產評價、電信產業。 Abstract：Defining the competitive advantage as the ability of a firm to generate returns above its synthetic normal (shadow) returns, the present study investigates the asset-light operations and performance in the telecommunications industry. Two types of relations between the asset-light operations and competitive advantage were examined: (1) firms operating “lighter” generate superior performance; and (2) firms possessing more “light” assets have superior performance. In addition, the asset-light operations are more important for the radiotelephone communications sub-industry than the telephone communications sub-industry. Keywords: competitive advantage, asset-light valuation, telecommunications industry. Introduction The RBV framework has proven itself to be of great value to the strategic management field and marketing researchers investigating the sources of sustainable competitive advantage and organizational survival (Adner Zemsky, 2006; Kraatz Zajac, 2001, Srivastava, Fahey, Christensen, 2001). Despite its rapid diffusion throughout the strategy and marketing literature, however, the RBV has been challenged as a tautological theory generally unclear on how its central claim “sustainable advantage generates superior performance” can be objectively test