Title page for etd-0822111-121457


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URN etd-0822111-121457
Author Ching-Chien Chen
Author's Email Address No Public.
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Department EMBA
Year 2010
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title An Analytic Study on the Value Chain Integration and Investment Model for TFT-LCD Industry
Date of Defense 2011-05-28
Page Count 107
Keyword
  • Profit pool
  • TFT-LCD
  • Value chain integration
  • Abstract This thesis presented an empirical study exploring the performance of TFT-LCD industry through vertical integration in value chain. Statistical analysis methods were adopted to examine the performance of TFT-LCD industry. The following theories of the profit pool and DuPont financial analysis approach, supplemented by competitive strategies, vertical integration, value chain and profit pool theory literature, from the industry overview and key aspects of the value chain Profit distribution and changes in the degree of value chain integration impact on the profitability of panel makers.
    In this research, we focused on the different segment of the TFT-LCD value chain (color filters, polarizers, backlight module, driver IC and panel manufacturing). We used three financial performance indices of these companies between 2005 and 2009,namely ROE (Return on Equity; ROE), return on total assets (Return on Asset; ROA), operating margin (Return on Sales; ROS) such as most scholars commonly used financial indicators as measurement tools observe all aspects of the value chain profit changes. Finally from the perspective of profit pool and vertical integration strategies to examine whether TFT-LCD panel manufacturers could use an integration strategy as a way to improve their performance on operating profit margin and lower the risk.
    The results are as follows: the value of different levels of vertical integration, panel makers will do the performance of the operating profit margin have different effects, with the active dwell Taiwan’s TFT-LCD industry up the value chain integration, is indeed closer to or exceed the Korea TFT-LCD maker, but with the TV panel sales with a gradual increase in the proportion of the panel sales , sales channel became a key factor in whether or not profitable. Therefore, the panel makers may be able to consider more closer cooperation with the player of home appliance industry and downstream continuing down the value chain to make the direction of integration efforts.
    Advisory Committee
  • Yih Jeng - chair
  • Chang-Chiang Chin - co-chair
  • Chang-Yung Liu - advisor
  • Jen-Jsung Huang - advisor
  • Files
  • etd-0822111-121457.pdf
  • Indicate in-campus at 99 year and off-campus access at 99 year.
    Date of Submission 2011-08-22

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