本研究以我國上市上櫃電子公司為研究對象，以資料包絡分析法為分析方法，探討公司赴大陸投資前後以及赴大陸投資公司與未赴大陸投資公司間，其台灣母公司在整體技術效率、純技術效率及規模效率上之差異。 就規模效率而言，樣本公司在赴大陸投資後，其台灣母公司在規模效率上有顯著提升，在赴大陸投資公司部分亦為如此；在純技術效率方面，各組樣本間並未有顯著差異；整體技術效率方面，赴大陸投資後及赴大陸投資公司之整體技術效率分別較赴大陸投資前及未赴大陸投資公司為高，主要係規模效率改進之故；另外在規模報酬部分，大部分樣本公司仍處於規模報酬遞增階段。 這些現象可能透露出廠商在赴大陸投資後，對於台灣母公司之規模調整已收到部分效益，然在技術層面卻未有所改善，且部分台灣母公司的生產規模仍未調整至最適狀態，故廠商應加強技術之提升，並增加對台灣母公司之投資，以使現有之投入獲致最佳之報酬。 / The purpose of this research is to examine how the Taiwan’s parent companies of electronic industry have adapted their strategies to face the new market structure and competition after the deregulation of “regulation of investment in mainland China”. This research focuses on comparing the changes of electronic company’s efficiency before and after deregulation. This research applies Data Envelopment Analysis (DEA) to measure efficiency scores. The statistical results reject the null hypothesis that there was no overall technical efficiency change and no scale efficiency change after deregulation, but accept the null hypothesis that there was no pure technical efficiency change. The statistical results indicate that after deregulation overall technical efficiency and scale efficiency increased but the pure technical efficiency remain unchanged. After further analysis of scale efficiency, the research also reveals that most of the companies are in increasing return to scale level. The result implies that those companies have not reached their optimal level of return to scale, although they did improve their scale efficiency. The above findings suggest that although the companies investing in mainland China can improve their scale efficiency, however, the investment did not benefit the pure technical efficiency. Therefore, this research suggests that in order to get the optimal return, companies investing in mainland China should focus more on technique improvement and capital investment on Taiwan’s parent companies.

近年來，中國之崛起、國外直接投資金額大量流入中國，乃為人所關切並激發學者研究興趣之議題，而產業群聚乃至其對企業帶來之效益亦為過去諸多文獻研究之領域，然而，其所探討之群聚效益並非群聚對財務績效之影響，即便探討台灣企業之群聚效益，亦非針對赴大陸投資之台商電子業。 　　據此，本研究擬以實證方式探討台商於大陸之群聚現象及其對績效是否具有正向影響，且該影響力是否隨群聚地理範圍及產業別之異而有所改變？ 　　本研究以2004至2006年赴大陸投資之台商電子業，經篩選後之219家公司為研究樣本，並將其依不同地理範圍和產業別進行分類，進而以特定地理範圍之區域商數及廠商家數為群聚之代理變數，各公司之營收淨額為績效之代理變數，並以複迴歸模型進行實證研究。 實證結果顯示，對「全部電子業」及「電腦、電子產品及光學製品製造業」而言，不論群聚之地理範圍為何，群聚對績效均具顯著之正向影響，且其係數將隨地理範圍之延展而增加，然而，就「電子零組件製造業」而言，唯有當群聚之地理範圍為區域時，群聚對績效才得以發揮顯著之正向影響。 總括而言，群聚對企業績效之提昇具有正向影響，然而，其將因群聚地理範圍及產業別之異而發揮不同之影響力，此研究結果之意涵有二：其一為，上下游供應鏈體系愈完整，群聚對績效所致之影響亦愈強；其二則為，產業群聚得以提昇績效之精髓在於「合作」，而非僅止於地理位置之集中。 關鍵字：台商、電子業、大陸、群聚、績效。 / Not only are Taiwan enterprises one of the main investors in China but their trends in investments are toward agglomerating in the electronic industry and some specific locations that triggers my interesting to explore the cluster phenomenon and the impacts of these clusters on Taiwan enterprises’ performances. Because the previous studies were rare involved in the impact of cluster on Taiwan enterprises’ financial performances, this paper aims to employ empirical method to analyze whether industry clusters influence on the performances of Taiwan enterprises of electronic industry which invested in China, and further find out whether this affection will be changed by different cluster boundaries and industries. The samples of this paper are 219 Taiwan firms of electronic industry which invested in China from 2004 to 2006. The proxies of industry clusters are location quotients and the numbers of firms in specific districts respectively, and the proxy of financial performances is net revenues of each firm. According to this empirical results, for the firms of whole electronic industry and computers, electronic products and optical products manufacturing industry, no matter what geographic borders they clustered, the clusters have significant positive influences on their performances, nevertheless for the firms of electronic parts and components manufacturing industry, there are significant positive influences on their performances only when they clustered around specific regions. In conclusion, clusters have positive influence on firms’ performances, but these affections will be changed due to different geographic boundaries and industries. Keywords: Taiwan enterprises, Electronic industry, Cluster, Performance.

We study an empirical analysis of financial characteristics for product diversification and internationalization of degree of corporate in the Taiwan listing comapny. This is paper evaluation multinational and product diversification performance from four aspect that included return, capital structure, company value and system risk. The empirical conculsion found (1).High degree of international company will be have high return of sales,company value and system risk. (2).In debt ratio negatived with high degree of international and product diversification.(3).Company established year positived to connec ompany value and system risk. (4). Company size positived relation with return, capital structure, company value and system risk.

Thesis (Ph. D.)--University of California, Irvine, 2000. / Vita. Includes bibliographical references (leaves 245-255).

本研究之架構主要是探討台灣具有代表性的產業，其智慧資本是否影響企業績效、影響的途徑和影響力的強弱。 另外，本研究除了探討智慧資本對企業績效直接的影響外，接著再著手探討對企業績效無顯著正向影響的智慧資本類別，是否透過其他智慧資本當作中介，對企業績效產生間接的正向影響。 而為了避免產業間特性的不同對結果造成影響，故本研究僅針對台灣兩個特定產業進行研究分析。在挑選預分析的產業時，主要的考量為台灣代表性的產業，最後選擇資訊電子業和金融服務業為主要研究的對象。 在瞭解智慧資本對企業績效是否有正向影響以及影響途徑之後，本研究另外再利用上述實證的結果，探討當所處的產業不同時，智慧資本對企業績的影響有無異同，並且著手比較其兩者之間相同和相異之處。 / The framework of this study deals with the issue about whether Intellectual Capital impacts business performance, the path of such impact, and the strength level of this influence. Besides investigating the direct impact of Intellectual Capital to business performance, this study paid attention to certain categories of Intellectual Capital that didn’t bring positive significant influence to business performance. This study tried to find out whether such kinds of Intellectual Capital produce indirect impact on business performance through other Intellectual Capital as the mediator. In order to eliminate the biased results coming from the diversified characters in different industries, this study focuses on two specific industries in Taiwan. This study choice information and electronic industry and financial service industry as research samples because these two industries play imperative roles among others in Taiwan. Based on the result of investigating whether Intellectual Capital has positive influence to business performance and what its path, this study also use the evidence from empirical study to survey and compare the relationship between Intellectual Capital and business performance in different industries.

The trend of outsourcing within the electronic industry has contributed to the creation of new types of extended enterprises. These extended enterprises must be able to manage a challenging situation with shorter product life cycles and increased collaboration between companies during the vital product introduction process. For the electronic industry, which is currently acting in an “era of hyper-competition”, it is a challenge to implement an efficient and flexible collaboration within an extended enterprise during the product introduction process. In the product introduction process, a product design is prepared for and transferred into production. During the course of this research, the electronic industry has changed continuously. Empirical data were first collected within an Original Equipment Manufacturer (OEM) that was responsible for its own production. Based on a strategic decision at the OEM, a new extended enterprise was established. In general, these new extended enterprises within the electronic industry consist of: a “product owner” in the form of an OEM that owns the product design and its brand; a “producer” in the form of an Electronic Manufacturing Services (EMS) company that is responsible for the production; and suppliers of services, material, components, equipment etc. However, in the later stages of this research the studied EMS was responsible for the product introduction, production and distribution of the product to the end user. In order to compare and contrast trends and lessons learned in similar industries, case studies within the mechanical engineering and aerospace industries also were performed. The dissertation primarily describes the process of collaborative product introduction (PI) within the electronic industry, and presents among other things a number of general conditions for efficient collaborative PI within an EE in that industry. First, a clearly communicated definition of what is included in product introduction is needed. A second condition is that early participation from all involved partners in the EE’s product introduction process supports efficient collaboration. Third, clear communication and information handling within the extended enterprise – both internally and externally – was found to facilitate collaboration. Fourth, business approaches should be built on trust, reliability and respect for each other’s competence. Finally, the importance of cultural awareness, both between different companies and countries, cannot be ignored. This research also presents a framework for supporting collaborative product introduction within an extended enterprise, which serves to both synthesize and summarize much of the research. / On the day of the public defence the status of article VIII was Accepted and the title was "Coordination in Collaborative Manufacturing Mega-Networks: Observations from a Case in the Commercial Aerospace Industry".

Os processos de flexibilidade produtiva com transformações tecnológicas e organizacionais nas empresas, que ocorrem no Brasil sob a égide da reestruturação produtiva capitalista desde 1980 e com maior ênfase em 1990, são observados neste estudo à luz da problemática da divisão sexual do trabalho, tomando como campo de análise o segmento de eletroeletrônicos, o qual possui a mais elevada proporção de mulheres da indústria metalúrgica. A pesquisa parte da problemática da visibilização de trabalhadoras como objeto de conhecimento nas análises sobre a classe trabalhadora, procurando oferecer contribuição à sociologia do trabalho a partir de reflexão empírica-teórica gendrada sobre o trabalho, sustentando assim a necessidade do reconhecimento da composição sexuada da classe e reivindicando a indissociabilidade das dimensões classe e gênero. Com base em estudo setorial focado em duas indústrias eletroeletrônicas transnacionais no ramo de telecomunicações e informática, cujas plantas analisadas localizam-se em municípios do interior de São Paulo, foram identificadas e analisadas características do processo de trabalho em diversos setores produtivos das empresas. Essas empresas fabricam no Brasil - uma desde a década de 1990 e outra desde 2000 - telefones celulares, tablets, monitores, notebooks, entre outros equipamentos, e empregam majoritariamente mulheres. A partir do enfoque sobre o processo de trabalho, a pesquisa procurou investigar formas contemporâneas de organização do trabalho (flexíveis ou rígidas) na indústria eletroeletrônica e as condições de trabalho que delas resultam, especialmente para as operárias. Estas condições se produzem em ambiente com flexibilidade interna e externa do processo produtivo que, contudo, manteriam mecanismos rígidos de gestão, como trabalho prescrito, controle sobre o tempo, pausas e cadência e pressão por metas, métodos que predominam nas funções taylorizadas e que costumam, também, ser funções femininas. Assim, foram analisados os critérios e as formas apresentados para a divisão sexual no interior do processo de trabalho em diversos setores das duas fábricas, abordando permanências históricas e mudanças nessa divisão, assim como especificidades sobre o controle e a qualificação do trabalho feminino. Foram investigados, também, elementos da subjetividade e significado social do trabalho para as operárias, bem como práticas sociais que derivam de sua condição de sujeitos sexuados, forjadas em relações sociais de sexo/gênero e classe, nos espaços interno e externo à fábrica. Por meio de entrevistas semi-estruturadas com trabalhadoras/es e dirigentes sindicais representantes das/os trabalhadoras/es das duas empresas, o estudo procurou compreender em que medida as formas de organização produtiva e de divisão sexual do trabalho identificadas na indústria eletroeletrônica influenciam na reprodução das relações sociais de classe e de gênero e/ou nas possibilidades de sua transformação. / The manufacturing flexibility processes together with technological and organizational changes in companies, which have occurred in Brazil under the aegis of the capitalist productive restructuring since 1980 and with special emphasis in 1990, are observed in this study in light of the sexual division of labour issues, taking the electrical & electronic field to be analysed, which has the highest proportion of women in the metallurgical industry. The research is built on the gender-awareness issues as knowledge object in the analysis of the working class, seeking to contribute to the sociology of work with a gendered empirical and theoretical reflection on work, thus justifying the need to recognize the gendered composition of the working class and claiming the inseparability of gender and class dimensions. Based on the sectorial study focused on two transnational electrical & electronic industries of the telecommunication and computer field, whose plots analysed are located in cities in the countryside of São Paulo State, characteristics of labour process were identified and analysed in various productive sectors of the companies. These companies have manufactured in Brazil - one since the 90s and the other since 2000 telephones, cellphones, tablets, monitors, laptops, among other pieces of equipment, and employed mostly women. Focused on the labour process, the research sought to investigate contemporary forms of work organization (flexible or rigid) in the electrical & electronic industry and their resultant working conditions, especially towards the female workers. Such conditions exist in an environment with internal and external flexibility of the productive process. However, these conditions would maintain strict management mechanisms such as predetermined tasks, strict time management, breaks and cadence and pressure to reach targets, methods which prevail in the Taylorized occupations which are often female occupations as well. Thus, the criteria and the forms presented to the sexual division within the labor process were analysed in various sectors of both factories, covering historical continuities and changes in this division, as well as specificities over the control and the qualification of female labour. Elements of subjectivity and the social significance of labour for the female workers were investigated, as well as the social practises that derive from their condition of gendered subjects, generated in social relations of sex/gender and class, in and out of the factory. Through semi-structured interviews with both female and male workers and trade union leaders, representatives of the workers from both companies, the study sought to understand to which extent the forms of productive organization and the sexual division of labour identified in the electrical & electronic industry influence on the reproduction of the social relations of class and gender and / or on the possibility of their transformation.

Os processos de flexibilidade produtiva com transformações tecnológicas e organizacionais nas empresas, que ocorrem no Brasil sob a égide da reestruturação produtiva capitalista desde 1980 e com maior ênfase em 1990, são observados neste estudo à luz da problemática da divisão sexual do trabalho, tomando como campo de análise o segmento de eletroeletrônicos, o qual possui a mais elevada proporção de mulheres da indústria metalúrgica. A pesquisa parte da problemática da visibilização de trabalhadoras como objeto de conhecimento nas análises sobre a classe trabalhadora, procurando oferecer contribuição à sociologia do trabalho a partir de reflexão empírica-teórica gendrada sobre o trabalho, sustentando assim a necessidade do reconhecimento da composição sexuada da classe e reivindicando a indissociabilidade das dimensões classe e gênero. Com base em estudo setorial focado em duas indústrias eletroeletrônicas transnacionais no ramo de telecomunicações e informática, cujas plantas analisadas localizam-se em municípios do interior de São Paulo, foram identificadas e analisadas características do processo de trabalho em diversos setores produtivos das empresas. Essas empresas fabricam no Brasil - uma desde a década de 1990 e outra desde 2000 - telefones celulares, tablets, monitores, notebooks, entre outros equipamentos, e empregam majoritariamente mulheres. A partir do enfoque sobre o processo de trabalho, a pesquisa procurou investigar formas contemporâneas de organização do trabalho (flexíveis ou rígidas) na indústria eletroeletrônica e as condições de trabalho que delas resultam, especialmente para as operárias. Estas condições se produzem em ambiente com flexibilidade interna e externa do processo produtivo que, contudo, manteriam mecanismos rígidos de gestão, como trabalho prescrito, controle sobre o tempo, pausas e cadência e pressão por metas, métodos que predominam nas funções taylorizadas e que costumam, também, ser funções femininas. Assim, foram analisados os critérios e as formas apresentados para a divisão sexual no interior do processo de trabalho em diversos setores das duas fábricas, abordando permanências históricas e mudanças nessa divisão, assim como especificidades sobre o controle e a qualificação do trabalho feminino. Foram investigados, também, elementos da subjetividade e significado social do trabalho para as operárias, bem como práticas sociais que derivam de sua condição de sujeitos sexuados, forjadas em relações sociais de sexo/gênero e classe, nos espaços interno e externo à fábrica. Por meio de entrevistas semi-estruturadas com trabalhadoras/es e dirigentes sindicais representantes das/os trabalhadoras/es das duas empresas, o estudo procurou compreender em que medida as formas de organização produtiva e de divisão sexual do trabalho identificadas na indústria eletroeletrônica influenciam na reprodução das relações sociais de classe e de gênero e/ou nas possibilidades de sua transformação. / The manufacturing flexibility processes together with technological and organizational changes in companies, which have occurred in Brazil under the aegis of the capitalist productive restructuring since 1980 and with special emphasis in 1990, are observed in this study in light of the sexual division of labour issues, taking the electrical & electronic field to be analysed, which has the highest proportion of women in the metallurgical industry. The research is built on the gender-awareness issues as knowledge object in the analysis of the working class, seeking to contribute to the sociology of work with a gendered empirical and theoretical reflection on work, thus justifying the need to recognize the gendered composition of the working class and claiming the inseparability of gender and class dimensions. Based on the sectorial study focused on two transnational electrical & electronic industries of the telecommunication and computer field, whose plots analysed are located in cities in the countryside of São Paulo State, characteristics of labour process were identified and analysed in various productive sectors of the companies. These companies have manufactured in Brazil - one since the 90s and the other since 2000 telephones, cellphones, tablets, monitors, laptops, among other pieces of equipment, and employed mostly women. Focused on the labour process, the research sought to investigate contemporary forms of work organization (flexible or rigid) in the electrical & electronic industry and their resultant working conditions, especially towards the female workers. Such conditions exist in an environment with internal and external flexibility of the productive process. However, these conditions would maintain strict management mechanisms such as predetermined tasks, strict time management, breaks and cadence and pressure to reach targets, methods which prevail in the Taylorized occupations which are often female occupations as well. Thus, the criteria and the forms presented to the sexual division within the labor process were analysed in various sectors of both factories, covering historical continuities and changes in this division, as well as specificities over the control and the qualification of female labour. Elements of subjectivity and the social significance of labour for the female workers were investigated, as well as the social practises that derive from their condition of gendered subjects, generated in social relations of sex/gender and class, in and out of the factory. Through semi-structured interviews with both female and male workers and trade union leaders, representatives of the workers from both companies, the study sought to understand to which extent the forms of productive organization and the sexual division of labour identified in the electrical & electronic industry influence on the reproduction of the social relations of class and gender and / or on the possibility of their transformation.

供應鏈管理的實質利益來自於改善企業內與企業間整體供應鏈網路的作業流程，使其各個環節在成本、品質及效率上都能大大的改進，這驅使大型企業紛紛帶頭建立自己的供應鏈體系，並與過去視為敵對的上下游廠商共同合作，以獲得整體供應鏈的利益及優勢。在推行供應鏈管理的過程中，管理營運之不確定性的掌控良好與否為供應鏈管理推行成功與否的重要關鍵因素之一，因為不確定性因素會直接或間接影響企業的績效，造成企業有形或無形的損失；在這個變動快速且競爭激烈的時代，能夠降低不確定性的影響就能降低風險，才能獲得或維持競爭優勢，故針對國內企業特質提出一套不確定性因素的因應策略是有必要的。 本研究透過文獻探討蒐集彙整一般企業在推行供應鏈管理時所面臨之不確定因素的來源及影響，接著，蒐集過去學者對於此一問題的解決方法，並提出一個初步的因應策略架構。在因應策略架構中，本研究使用圖形模式化工具來表達企業流程以輔助分析，並與相關規劃及作業人員討論，以找出所有不確定性因素的來源及不確定性因素的影響，對於不確定性因素的來源，採取盡量降低其發生的預防策略；對於不確定性的影響，採取盡量減少其傷害的應變策略。其次，本研究以台灣資訊電子業為例，進行個案研究以了解企業如何因應不確定性因素，並利用分析的結果來修正初步的因應策略架構，以符合台灣企業本身的現況，最後作綜合整理分析並提出建議，以作為將來台灣資訊電子業在推行供應鏈管理時相關策略的參考。 / The benefits of Supply Chain Management come from the improvement of the whole operation processes of the supply chain network. These make large enterprises build their supply chain network and cooperate with their up-stream suppliers and down-stream customers to produce a larger overall benefit. To be success in implementing supply chain management, there are many critical successful factors. Managing the impact of uncertainty in implementing the supply chain management is one of them, since uncertainty will directly or indirectly influence the performance of business operations and will cause tangible or intangible damages. In the era of rapid change and sheer competition, eliminating the impact of uncertainty will help company to reduce the risk and gain/sustain their competitive advantages. In this thesis we focus on the Taiwan enterprises’ characteristics, and propose adaptive strategies to manage the uncertainty. This thesis collected the sources and impacts of the various uncertainty factors based on the literature survey of previous studies, then we review the solutions, which was announced, and propose a prototype of the architecture of adaptive strategies for these uncertainty factors. In this architecture we use graphics modeling tools (IDEF0) to present business processes, then take a discussion with related planners and operators to find out all the sources of uncertainty and the impacts caused by the uncertainty to the company. For the sources of the uncertainty, we take possible preventive strategies to reduce the probability of occurrence. For the impacts of the uncertainty, we take possible defensive strategies to eliminate the impacts of the uncertainty. Then we use case study to understand that how Taiwan’s Information & Electronic companies do as they suffer from uncertainty and to correct the prototype of the architecture. Finally, we synthesize the discoveries, and provide the helpful suggestions to Information & Electronic Industry in Taiwan for a reference if they want to implement Supply Chain Management.

在這個知識經濟時代中，智慧資本是組織競爭優勢的關鍵所在，而智慧資本的創造、發展、分享及整合則是創造企業價值的主要動因。因此，智慧資本對一個組織而言是很重要的資源，然而每個組織需要的資源種類及多寡是否相同? 又該如何衡量、蓄積與管理? 這些將成為未來企業競爭的重要關鍵。在資源基礎論下認為企業應持續建構及運用本身的經營條件，以對抗外在環境的變化，特別強調資源對公司經營與未來發展的重要性，由此可知，資源是企業策略決策的思考邏輯中心。因此，對資源之需求理論上應隨著策略之不同而有所不同，然而是否會真的有所不同? 具體上又有何不同? 值得我們進一步探討。 然而在企業界的現行實務中，企業所實際擁有的智慧資本是否足以幫助企業達成策略目標與組織目標，非常值得深思。若能掌握企業為達策略目標所需之智慧資本與目前實際擁有之智慧資本的差異狀況，相信能對企業蓄積智慧資本應努力方向提供切實且有助益之參考。故本研究的目的主要係探討企業應重視蓄積之智慧資本為何、應重視蓄積之智慧資本是否會隨著企業所採策略不同而不同，以及實際蓄積不足而應加強蓄積之智慧資本為何。 　　本研究係以我國資訊電子業之上市與上櫃公司為研究對象，並採取問卷調查法來進行，發現之結果如下： 一、企業所重視之智慧資本包含「研發能力與智財強度」、「提昇顧客關係能力」、「營運管理能力」、「提昇人力品質能力」、「行銷能力」、「製程彈性與產能利用」、「生產品質」、以及「組織結構」八個因素構面。 二、企業對於智慧資本之重視蓄積程度會隨著企業所採取策略之不同而不同。 三、兩策略下蓄積不足之智慧資本主要皆集中於「營運管理能力」構面以及「研發能力與智財強度」構面有關之項目，但採低成本策略之企業亦明顯在「生產品質」構面之項目上蓄積不足。 四、企業之智慧資本未達蓄積目標會影響企業績效。 / In this knowledge-based economy, intellectual capital is the key factor to help firms get its competitive advantage. The creation, development, sharing and integration of intellectual capital is the key driver to create the value of firms. Therefore, intellectual capital is a very important resource for a firm. However, what kind of resource do different firms need and how much do they need? How to measure, store, and manage the resource will be the key point for firms to compete in the future. In the resource-base theory, it is thought that firms should keep constructing and making use of its terms to react to the change of the external environment. It also insist on the importance of the resource for firms, so we can know that resource is the logic center for firms to make a strategic decision. Therefore, the need for resource will be different by the strategy. But what’s the different is worth for us to discuss. It is worth for us to think about that in practice do firms really have enough intellectual capital to help them reach the strategic goal of a frim. If we can know well about the difference between the intellectual capital which firms really have and the intellectual capital they want to have, we can provide a practical and helpful way for firms to store their own intellectual capital. The objective of this study is to find out what intellectual capital should firms need to emphasis on. Are they different by strategy. And what intellectual capital should they enhance to store. In this study, both questionnaire survey method are used. The public firms in the electronic industry are the objects of the thesis. We found that: 1. Firms should emphasis on eight intellectual capital, including research, development and intellectual property ability, increase customer relationship ability, operation processes management, increase human quality ability, sales ability, manufacture process elasticity and capacity utilization, manufacture quality, and business structure. 2. The importance of intellectual capital for a firm is affected by strategic types. 3. Firms are mainly insufficient in operation processes and research, development and intellectual property ability. However firms taken low cost strategy are especially insufficient in manufacture quality. 4. The insufficient of intellectual capital will influence business performance.