Research on the relationship between business strategy and performance of Asset Management Companies

• Main Authors: Hsien-Jen Chin, 覃顯仁
• Other Authors: Ying-Cheng Hung
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/71207360137650175159

碩士 === 淡江大學 === 企業管理學系碩士在職專班 === 95 === In this research we want to know the relationship between business strategy and performance of Asset Management Companies. With literature review, as Klingebiel(1999) pointed out that “Two main types of AMCs can be distinguished: AMCs set up to help and expedite corporate restructuring and AMCs established as rapid asset disposition vehicles.” ,We choose and survey seven cases of AMCs in Taiwan , according in-depth interviews with managers that four are foreign institutional investors and the other three are domestic enterprises ,we build up some propositions and the main findings as following: 1.Foreign institutional investors have tendencies towards avail themselves of global strategies and domestic enterprises tend to choose strategies in connection with governing the resources. 2.Foreign institutional investors have tendencies towards employing the rapid asset disposition vehicles that depend on the investment benchmark strategies. 3.Domestic enterprises tend to employ the longer term restructuring vehicles, that have the tendencies towards to make use of the product development strategy, the market development strategy and the market penetration strategy. 4.The longer term restructuring vehicles have more intent to establish and maintain long-term relationships with strategic partners than the rapid asset disposition vehicles. 5.On the opposite views of strategy and performance between different vehicles , as the result have mentioned , the longer term restructuring vehicles are superior to the rapid asset disposition vehicles in the organization survival.