First-Mover Advantage and Performance of Electronic Industry: Theory and Empirical of Real Option Analysis

• Main Authors: Yu-Ching Lu, 盧又菁
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/85148010072074274868

碩士 === 東吳大學 === 國際經營與貿易學系 === 100 === There is distinct discrepancy in operations between first or second mover of different industries based on variabilities of characteristics, resources, core competences and market types. As Technology industry has been important to Taiwan because of its increasingly raising proportion of exports since 1980s, it is meaningful for enterprises to find out whether “first-mover advantages” exist or not in the industry. In addition, policies or regulations made by government will have effect on corporations’ investment, such as wage level, interest rate, foreign exchange rate, taxes and trade policies. Therefore, besides first-mover advantages, policy uncertainties created by government is also be discussed. Besides 1981 to 1985, the regression on first-mover advantages shows that the latter the firms setup, the better the profitability. Additionally, policy uncertainties indicate that the most firms setup during 1996 to 2000 with the lowest policy uncertainties within the sample period and firms setup during the period display the highest profitability showed from the regression on first-mover advantages.