策略、智慧資本觀點下之價值鏈活動與財務績效關連性：台灣資訊電子業之實證研究

The Relationship among Strategy, Value Chain Activities in Intellectual Capital Perspective, and Financial Performance: An Empirical Study of Taiwan's Information Electronics Industry

王文英(Wen-Ying Wang) ； 李佳玲(Chia-Ling Lee)

《會計評論》 47期 (2008/07) Pp. 89-121

https://doi.org/10.6552/JOAR.2008.47.4

摘要

本研究從智慧資本的觀念，探討企業經營策略與其價值鏈活動之關係，以及兩者間之關係對企業財務績效的影響。經營策略可分為：探勘者（重視創新活動，並提供具差異性之產品）與防禦者（藉由改善營運效率與降低成本以獲取競爭優勢）兩種。本研究利用問卷調查法，並輔以企業實際營運資料，以我國上市資訊電子業公司為對象進行分析。從平均數之t檢定結果發現：採用探勘者策略之企業較重視行銷與顧客服務活動，而採用防禦者策略之企業則較注重製程活動與公司基礎建設及採購管理活動。值得注意的是：採用兩種策略之企業則皆重視技術創新管理活動。此外，從複迴歸分析結果顯示：技術創新管理活動以及行銷與顧客服務活動對於探勘者企業之財務績效具有正向顯著影響，而製程活動則對於防禦者企業之績效呈現顯著影響。這些發現對於資訊電子業具有重大意涵。

關鍵字

經營策略 ； 財務績效 ； 智慧資本 ； 價值鏈活動

並列摘要

From an intellectual capital's perspective, this paper investigates the relation between companies' business strategies and their value chain activities, and the impact of such relation on companies' financial performance. Two types of business strategy are adopted and analyzed: a prospector (whose strategy involves taking more innovative actions and providing differential products) and a defender (whose strategy focuses on operating efficiency and cost reduction to gain competitive advantages). Using questionnaires and archival data from Taiwan's listed companies in the information electronics industry, the t test results show that a prospector tends to emphasize on marketing and customer service activity while a defender tends to concentrate on manufacturing and infrastructure and procurement management activities. Notably, both the prospector and the defender focus on technology innovation activity. Moreover, the multiple regression results indicate that technology innovation activity and marketing and customer service activity significantly improve the prospector's financial performance whereas manufacturing activity leads to significantly better financial performance to the defender. These findings bear important implications to Taiwan's information electronics industry.

並列關鍵字

Business strategy ； Financial performance ； Intellectual capital ； Value chain activities

參考文獻

Aaker, D. A.(1989).Managing assets and skill: The key to a sustainable competitive advantage.California Management Review.31,91-106.

Allee, V.(2000).Reconfiguring the value network.The Journal of Business Strategy.21,36-39.

Amir, E.,B. Lev.(1996).Value-relevance of nonfinancial information: The wireless communications industry.Journal of Accounting and Economics.22,3-30.

Anderson, E. W.,C. Fornell,D. R. Lehmann.(1994).Customer satisfaction, market share, and profitability: Findings from Sweden.Journal of Marketing.58,53-66.

Banker, R. D.,G. Potter,D. Srinivasan(2000).An empirical investigation of an incentive plan that includes nonfinancial performance measures.The Accounting Review.75,65-92.