| Summary: | 碩士 === 雲林科技大學 === 企業管理系碩士班 === 98 === Diversification is one of the processes of entering new industries. Under the dramatically change of world business markets, Taiwanese enterprises are confronting a great challenge of the raising rivals. On account of this rapid changing environment, how to leveraging core competence and keep the competitive advantages become a very important task. International diversification is a good method for an island country such as Taiwan for the purpose of penetrating world markets. However, is the performance growing up with the level of international diversification? The answer is still in dispute. Hence, we examine the diversification-performance relationship by three types of diversification which are country diversification, regional diversification, and Business concentration. We used Tobin’s Q ratio for the measurement of firm performance, and further discussed the moderating effect of economic indicator as well.
By using the statistic software STATA ver.10, we conclude the results of our findings. The relationships between diversification and Tobin’s Q ratio either geographically or by product are both curvilinear. The appropriate diversification selection for Taiwanese company is low level of country diversification and moderate regional diversification as well as low level of Business concentration selected simultaneously brings the higher Tobin’s Q ratio. Although we didn’t find a significant result of the moderating effect of economic indicator, we demonstrated the configuration of diversifications and proposed managerial implication for managers in the similar investment condition in chapter five.
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