Thesis (master's)--Thammasat University, 1999. / Includes bibliographical references (leaves 125-128).

This master thesis critically examines how new technology, AI, is influencing industry competition as viewed through the Porter’s Five Forces Framework for online retailers. It does this through a qualitative inquiry with seven expert interviews and a literature review focused on foundational papers, as well as more recent critiques of the Porter’s Five Forces Framework. Recent reports on the impact of AI is also examined. The thesis finds that several of Porter’s suggestions for the Five Framework are echoed by the interviewees, and the Forces appear to be relevant to consider for an online retailer considering the impact of AI. However, interviewees suggest the potential impact of network effects and fluidity between industries goes beyond what Porter indicated in his original study, thereby potentially influencing the extent to which one can solely rely on the Porter’s Five Forces Framework to support strategic decision making.

Title: Competition Protection in Network Industries Abstract: I provide description of relevant markets within electroenergy industry in European countries since after liberalization movements of the last 20 years the development of these markets open new issues in antimonopoly legislation to be passed and in antimonopoly practice to be solved. The key term of any antimonopoly issue is the relevant market. Hence, its definition as provided by case law of European Commission and European Courts is crucial for companies as well as regulators to understand in order to be able to pursue their activities. As I show, after 20 or so years, the countries of the EU at least in electroenergy area are no closer to the Single Market as they were at the beginning of 90s before liberalization of electricity markets began and there is no sign of improvement for year to come. This thesis provides an overview (the tools and analyses) that can be used to explore individual national relevant markets in the area of electroenergy business. For further research it is worth exploring detailed analysis of relationship between price development and degree of competition, phasing of market opening, protection of small consumers and RES support within individual national energy systems. Keywords: competition, competition law and...

本研究旨在探討公司規模及產業競爭對CEO現金薪酬與股票報酬敏感性之影響。根據Leone et al. (2006)之研究，認為依未實現利得而給付之現金薪酬將產生事後交割成本，未實現損失可能遞延CEO之決策責任。由於未實現損益可反映至股票報酬上，因此有效率的現金薪酬契約對含有未實現利得之正股票報酬的敏感性低於含有未實現損失之負股票報酬，顯示現金薪酬與正、負股票報酬之敏感性呈現不對稱關係。本研究以此文獻作延伸，探究CEO現金薪酬與股票報酬之敏感關聯性及其不對稱性關係是否受公司規模與產業競爭之影響。 以ExecuComp資料庫2000年至2009年的CEO現金薪酬樣本進行迴歸分析，結果發現公司規模愈大，現金薪酬對市場績效之敏感性愈大，顯示為避免CEO從事會計盈餘管理，公司現金薪酬之給付更著重於市場績效之衡量；產業競爭方面，產業競爭愈激烈，現金薪酬與市場績效之敏感性愈小，符合風險差異化假說。關於CEO現金薪酬與正、負股票報酬敏感性之不對稱關係，實證結果顯示大規模公司及產業競爭程度較高者對CEO決策之審慎性更加要求，因此CEO現金薪酬與正、負股票報酬敏感性之不對稱的差距愈大。 / This study investigates the effect of firm size and industry competition on the asymmetric sensitivity of CEO cash compensation to the stock returns. Leone et al. (2006) shows that since stock returns include both unrealized gains and losses, cash compensation would be less sensitive to stock returns when returns contains unrealized gains (positive returns) than when returns contain unrealized losses (negative returns). As an extension, this study examines whether firm size and industry competition affect the sensitivity of cash compensation to market performance and the asymmetry of sensitivity of cash compensation to stock returns. Based on the CEO cash compensation during 2000 and 2009 from ExecuComp database, the empirical results show that the firm size has positive effect on sensitivity of cash compensation to market performance while the industry competition has negative effect. Moreover, the asymmetry of sensitivity of CEO cash compensation to stock returns increases as firm size and industry competition increase.

本研究主要目的為探討產業過去之購併活動，對公司的研發投入的影響。產業的購併活動活躍與否，可視為此產業中資產的流動性衡量，根據Phillips and Zhdanov （2012）所使用之方式，利用產業過去的購併交易所計算出變數，可用以解釋公司的研發投入。本文有別於傳統之樣本分類法，而是採用不同的變數來衡量產業分類，藉以分析同業購併、異業購併以及產業整體購併對公司研發投入的影響。從實證結果發現，當過去的同業內購併活動越盛行時，公司的研發投入越高。而公司的研發投入，又與公司之規模大小有關，隨著公司規模大小不同，購併活動對研發投入的影響程度也隨之改變，隨著公司規模越大，受到的影響則越小，具有規模效應。本研究同時考量產業需求變動以及競爭程度對公司研發投入的影響，實證發現公司研發投入與產業需求及競爭程度為正向關係，且同樣具有規模效應。 / The objective of this study is to analyze how an active acquisition market affects Taiwan firms’ incentives to conduct R&D. It follows Phillips and Zhdanov（2012）that using the value of past M&A activity in the firm’s industry to captures the historical liquidity of an industry’s assets. Different from other studies which usually split sample into different groups to examine inside- and outside-industry, this study use three variables to measure how M&A activity in inside-, outside- and whole-industry affect firms on conducting R&D in different ways. According to the empirical results of the regression analyses, we find that firms’ incentives to conduct R&D increase with inside industry M&A activity and the effect is stronger for small firms than large firms. We also find that firms’ R&D are positively correlated with industry demand and competition, and both of these effects are also stronger for small firms than for large firms.