筒略聯盟之資源構形與競爭優勢關系之研究

The Relations between Resources Configuration in Strategic Alliance and Competitive Advantage

黃銘章(Ming-Chang Huang) ； 楊淑珍(Su-Chen Yang)

《中華管理學報》 4卷2期 (2003/07) Pp. 59-75

https://doi.org/10.30053/CHJM.200307.0004

摘要

本文主要探究台灣股市可轉換特別股是否存在「一月效應」之季節性異常現象，並嘗試以總體經濟因素模式來分析利率、匯率及貨幣供給額與可轉換特別股月報酬率之關係。研究結果發現，顯示台灣股市可轉換特別股的次級市場未達到弱勢效率性，月報酬率在5％顯著水準下，有一、二、三、五、六、八與十二月份呈現顯著效應。

關鍵字

策略聯盟 ； 資源構型 ； 競爭優勢

並列摘要

The aims of the present study are to examine the distribution of monthlyreturn from convertible preferred stocks(CPS)in Taiwan stock market,to searchthe anomaly of seasonality,especially the January effect,and to analyze therelationship between macroeconomic factors and the CPS monthly return.Here,the exchange rate,interest rate,and money supply are considered as themacroeconomic factors in the investigation.The results reveal that secondarymarket of the Taiwan CPS did not reach weak form efficiency because theobvious effect of anomaly on the CPS monthly return occurs in January,February,March,May,June,August and December.

並列關鍵字

Strategic Alliance ； Resources Configuration ； Competitive Advantage