市場導向策略與競爭優勢分析:財務績效觀點

Abstract

企業經營最主要的目的就是要能在市場上獲利。先前的研究顯示，市場導向對企業經營績效具有正向的影響。然而卻很少有研究在探討市場導向的長期利益並使用長期追蹤資料來探討市場導向與企業經營績效之間的關係。在本研究中，以2007~2011年為研究期間，並使用來自Compustat資料庫有報導營業費用與客觀財務績效之592家公司，來探討市場導向對財務績效的影響。 研究結果顯示，市場導向與企業營收與淨利呈現正向顯著之關係。此外，本研究之結果顯示，競爭強度變動與市場變動正向調節市場導向和企業營收與淨利之間的關係，而技術變動負向調節市場導向和企業營收與淨利之間的關係。

The main purpose for running a corporation business is to gain profit from the market. Previous studies show that market orientation is, in general, positively related to several business performance measures. However, few studies have investigated the longer-term benefits of market orientation, and have been published on this relationship using longitudinal data. In this study, we use panel data from Compustat database at 592 companies regarding their firm’s operating expense, along with objective financial performance measures, to investigate the influence of market orientation during 2007~2011.

The empirical results find that the relationship between market orientation and financial performance has a positive effect. Moreover, we find that market turbulence, competitive intensity, and technological turbulence could moderate the relationship between market orientation and financial performance.