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博碩士論文 etd-0524119-193055 詳細資訊
Title page for etd-0524119-193055
論文名稱
Title
基富通證券與台灣基金銷售機構的競合關係研究
Research on The Competition- Cooperation of FundRich Securities and Taiwan’s Fund-Selling Agents
系所名稱
Department
畢業學年期
Year, semester
語文別
Language
學位類別
Degree
頁數
Number of pages
54
研究生
Author
指導教授
Advisor
召集委員
Convenor
口試委員
Advisory Committee
口試日期
Date of Exam
2019-05-29
繳交日期
Date of Submission
2019-06-24
關鍵字
Keywords
境外基金、網路效應、交易平台、梅特卡夫定律、競爭優勢
Dealing platform, Competitive advantages, Offshore fund, Network effect, Metcalfe’s law
統計
Statistics
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中文摘要
關於一篇標題為「為什麼台灣的薪資水準和墨西哥差不多」的文章,於2018年3月19日從富比士雜誌(Forbes)的網站刊出。根據內文指出,我們台灣是被國際貨幣基金 ( IMF )所認定先進的經濟體,且也是已開發國家; 但是,勞動力的平均收入與開發中國家的墨西哥平均收入相近,卻是遠不如南韓及新加坡等鄰國,在「亞洲四小龍」中卻名列最後。在台灣低薪、低利環境存在多年及通貨膨脹居高不下,幾乎成為負利率時代的來臨,民眾資產逐年縮水,想要快速累積財富、達到人生退休目標,不能僅靠傳統的定存來完成,而需要善用投資。台灣金融機構為因應整體市場環境變化及國人領息習慣,因此國民對基金產品的熱愛度逐日增加; 因此,台灣的境外基金投資金額規模讓各地的基金公司注意到之後,許多基金公司如雨後春筍的進入台灣銷售。
本研究多以競爭優勢與策略為基礎,探討個案公司於2015年成立,此為半政府機構的交易平台,個案公司運用自己的優勢,幫助投資人用合理的成本、方便的介面及足夠的資訊,讓大眾在網路上安心地投資基金及降低投資大眾的年齡層。因此本研究的主要目的就是分析台灣投資境外基金之投資者,如何改變交易行為,個案公司又如何與其他銷售機構競爭及合作,最終利益者為投資大眾。且個案公司皆透過網路平台作業及交易,因此也依據梅特卡夫定律來研究網路效應,來探討如何應用網路的平台力量及如何賄賂客戶,吸引客戶利用此平台,養成使用平台的習慣,將客戶群養大,讓公司的存續銷量循序增加。
本研究結果發現,此個案公司在台灣建置後,可說是相對成功,且給予全台灣投資大眾一個全新不同的選擇,無須再因受銀行通路的獎金制度影響而銷售非客戶需求但卻是高獎勵的基金給予客戶,而忽略投資客戶的真正需求。然而在此平台成立後,一個面向會讓同業認為主管機關出來與民營企業爭利; 但事實上,由此可以看出,最大收益者為投資大眾。投資大眾無需再受銷售機構綁架,然而在整個平台正式營運後,也可以看到同業之間由原本讓大家認為的競爭關係也衍生為合作關係。在合作的關係中,增加了客戶的便利性,也相對讓同業的流程簡化,讓整個市場有個正向的合作關係及運作。
Abstract
An article titled "Why is Taiwan's salary level like the country Mexico" was published on the website of Forbes on March 19, 2018. According to the article, we are an advanced economy recognized by the International Monetary Fund (IMF) and a developed country. However, the average income of labor is similar to the developing countries, but it is lower than that of South Korea, Singapore, etc. and the neighboring countries, in the "" Four Asian Tigers", respected the last seat. However, low-paying, low-profit environment has existed for many years and inflation has remained high in Taiwan. It has almost become the era of negative interest rates. The assets of the citizens have shrunk year by year. To quickly accumulate wealth and achieve retirement goals, we cannot only rely on traditional deposits. Need to make good use of investment. In response to changes in the overall market environment and the habits of Chinese people is to receive interest from any kind of products, the enthusiasm for fund products has increased day by day in the financial industry in Taiwan. Therefore, the size of offshore fund investment in Taiwan has been noticed by fund promoters; therefore, many fund houses have sprung up entering Taiwan for sale funds.
This study is based on competitive advantages and strategies. The company was established in 2015. This is a trading platform which launched by semi-government organizations. The company use their own advantages to help investors at reasonable cost, commission, sufficient information and convenient interface. Due to the company background; therefore, the public investors can use this platform to make their investment t with safe secure and it helps to reduce the age of the investors through the Internet. Hence, the main purpose of this study is to analyze the investors who invest in offshore funds in Taiwan, how to change their trading behavior according to the establishment of this company, and the company how to compete and cooperate with other distributors but the ultimate beneficiaries are the investors eventually. As all the process through the platform of the company is Internet; therefore, this report also studied the network effect, according to Metcalfe's law to explore how to apply the platform power of the network and how to bribe customers, attract customers to use this platform. It is intent to increase the number of investors base and increase the AUM holding.
The results of this study found that after the company was established in Taiwan, it can be said to be relatively successful, and it gives the whole fund investment environment a brand new and different choice in Taiwan. It is no longer necessary to sell non-customer demand but is highly rewarded due to the bonus policy of the bank channels. Because of this unreasonable policy, the financial advisor from bank always ignore the needed of their clients. However, after the establishment of this platform, most people think that the competent authorities will compete with private enterprises. But in fact, it can see that the biggest beneficiary is the public investors. The public investors are no longer needing to be kidnapped by the sales distributors. However, after the completed platform is officially go live, we can also see that the competitive relationship between the distributors has been derived from the relationship. In the cooperative relationship, the convenience of the customer is increased, and the process of the same industry is simplified, so that the entire market has a positive cooperative relationship and operations.
目次 Table of Contents
目錄

論文審定書…………………………………………………………………………….i
誌謝……………………………………………………………………………………ii
摘要…………………………………………….…..……………….…………………iii
Abstract……………………………………………………….………………………iv
目錄……………………………………..……………………………..………………vi
圖次…………………………………………………………………………………...vii
表次…………………………………………………………………………………...vii
第一章緒論……………………………………………………………………….…..01
第一節 研究背景與動機…………………………………………………….…01
第二節 研究目的………………………………………….……………………03
第三節 研究流程……………………………………………………….………04
第二章文獻探討…………………………………………….………………………..05
第一節 競爭優勢與策略……………………………………………………….05
第二節 梅特卡夫定律………………………………………………………….11
第三章研究設計……………………………………………………………………...16
第一節 個案研究……………………………………………………………….16
第二節 研究方法……………………………………………………………….17
第四章產業現況……………………………………………………………………...20
第一節 個案公司簡介……..………..………………………...………………..20
第二節 基金發展起源及我國發展概況..…..…..……...………………………23
第三節 我國基金銷售市場現象…………...……..……...…………….………26
第四節 我國基金銷售通路……..………...……………………………………27
第五章實證分析……………………………………………………………………...30
第一節 個案公司成立的策略性意義……………………………………..…...30
第二節 平台成立後,與市場的銷售通路競合關係………………………….34
第三節 如何讓平台達成最大效益化………………………………………….34
第四節 經營概況及如何呼應Fin Tech理念………………………………….35
第六章結論與建議……………………..…………………………………………….36
第一節 結論…………………………………………………………………….36
第二節 產業建議…………………………………………….…………………37
第三節 基富通證券的未來展望…….…………………………………………39
參考文獻………………………………………….…………………………………..43
附錄(一): 訪談記錄………………………………………………………………….45
附錄(二): Fund Online Korea簡介…………………………………………..……..50

圖次

圖1-1:個案研究流程圖……………..………………………………………….04
圖2-1:Hill & Jones競爭優勢來源...…..……….………………………………05
圖2-2:競爭策略與優勢支撐與實現策略定位…..…….………………………09
圖2-3:梅特卡夫定律……………………………..…………….………………12
圖2-4:產業網路效應………………………………..………………….………15
圖3-1:研究設計……………………………………………..……………….…16
圖4-1:基富通組織架構……………………………………..……………….…21
圖4-2:境內外基金主要銷售通路比率……………………..………………….25
圖5-1:台灣投信境內基金檔數及總規模………………………..…………….30
圖5-2:台灣境外基金檔數及總規模………………………..……………….…30


表次
表2-1:Porter的競爭優勢策略………………………………............................06
表2-2:SCA可持續性的競爭優勢…………………………………………......09
表2-3:企業競爭優勢意涵……..…………………………………………….....10
表4-1:基富通發展歷程..……….………………………………………………20
表4-2:境內外基金主要銷售通路比率..……………………………………….26
表4-3:基富通平台與基金最大銷售通路手續收費比較……………………...28
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