THE INFLUENTIAL ANALYSIS OF DIVRSIFICATION ON THE OPRATING EFFICIENCY - AN APPLICATION TO TAIWANESE CONGLOMERATE FIRMS

• Main Authors: SHEH-YEH TAO, 陶學燁
• Other Authors: DR.WEI-TZEN YANG
• Format: Others
• Language: zh-TW
• Published: 2002
• Online Access: http://ndltd.ncl.edu.tw/handle/81142132961723794566

博士 === 淡江大學 === 管理科學學系 === 90 === Total page：116 Titles of Thesis：The Influential Analysis of Diversification on the Operating Efficiency-An Application to Taiwanese Conglomerate Firms Keywords：Diversification, Data Envelopment Analysis(DEA), Stochastic Frontiers approach(SFA) Name of Department：Department of Management Sciences , Tamkang University Graduation Date：June,2002 Degree Conferred：Ph.D Name of Student：Sheh-Yeh Tao Advisor：Dr. Wei -Tzen Yang Dr.Maio-Sheng Chen Abstract： In order for Taiwan to enter the World Trade Organization, in view of global business strategy, numerous businesses have employed the strategy of conglomeratization to raise their competitiveness. Conglomeratization has become a trend of development in recent years. However, it may not always increase operating performance and is possible to produce conflict between managers, thereby influencing operating performance. The cost inefficiency of a panel of 40 Taiwan listed company will be measured: each company will enter the panel for three years, in the period 1997-1999. However, this study only seeks to examine listed and OTC companies. As it is not easy to collect data for companies that are neither TSEC(Taiwan Stock Exchange Corporation)-listed nor over the counter, there is no way that such companies can be included in this analysis. In this study, the stochastic frontier function model and data envelopment analysis with risk-adjusted coefficient are utilized to estimate the influence of diversification upon the operating performance of Taiwanese conglomerate firms. The results indicate that: （1）The relationship between risk-adjusted coefficient and cost is negative and significant. It indicates that the higher credit conglomerate firms actually with lower cost. （2）The estimated efficiencies are almost consistent for the two proposed approaches. （3） The diversification level of a business should be neither too high nor too low.