市場結構對於公司經營績效之影響─以台灣製造業內銷市場為例

Abstract

論文摘要 過去國內、外學者對於市場結構對於廠商績效之影響有不一樣的 看法。一派認為市場越競爭、廠商經營階層在成本與員工績效衡量上比較對象越多，因此對於廠商績效表現越有利；但另一派認為獨占廠商對於價格成本以及上、下游議價力方面越有優勢，對於公司績效提升方面越有利。 本研究鑒於過去國內研究未考量廠商產品差異性與競爭市場兩方面產生的干擾，因此在進行市場占有率計算上以國內內銷市場為主，希望減低對於實證結果之干擾。 實證結果顯示市場占有率的確對於廠商績效表現有所影響，廠商市場占有率越高其本期以及未來廠商股東權益報酬率表現越佳。市場 占有率在內銷與外銷廠商實證上有不同結果，市場占有率對於內銷廠商影響程度較高。

Abstract: In the past years, the empirical study of market structure and corporate financial performance had different points of view. Some studying indicate when the industry is competitive, managers will have more benchmarks to evaluate the corporate and employee performance. Industrial competition is benefit to corporate financial performance. The others think if the industry is more monopolistic, the corporate have more power to control the goods’ price and cost, take advantage of suppliers and customers. Industrial competition harms corporate financial performance. Refer to past studies, they ignore the influence of the corporate goods’difference and market mismatch. As the result, in my study, the calculation of market share is based on domestic market. The empirical study shows that market structure has significant effect on corporate financial performance. The corporate with higher market share will have better return of equity in the future. The market share have more influence on corporate with high import rate than corporate with high export rate. The difference of corporate export behavior will affect the empirical result. Market share have heavy influence on corporate with high import rate.