| Summary: | 碩士 === 元培科技大學 === 企業管理研究所 === 99 === Applying the Bayesian epistemology logic, a recent strategic study suggests that “sustainable competitive advantage is more probable in firms that have already achieved sustained superior performance.” In addition, as the financial performance is the outcome of the competitive advantage, it further proposes that “the firm performance reveals its own causes.” Therefore, we may infer a firm’s competitive advantage by examining the composition of its performance, that is, the “resource configuration”. The present study deducts the value composition of du Pont identify. Nine financial ratios included in the du Pont identity were then derived to infer the resource and capability bundles of the firm. This research subsequently investigates the resource configuration of the Biotechnology Industry using data from the compustat database. The differences of competitive advantage of firms based on advanced countries from those based on emerging markets are also examined.
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