Loading...
|
Please use this identifier to cite or link to this item:
https://nccur.lib.nccu.edu.tw/handle/140.119/59225
|
| Title: | 公司策略擬定對智慧資產的投資及績效表現的影響－以台灣飯店業為例
Relationship Between Strategic Orientation, Investment in Intellectual Capital and Firm Performance in Hospitality Industry in Taiwan. |
| Authors: | 朱麗
Julia Sadykova |
| Contributors: | 吳啟銘
Chiming Wu
朱麗
Julia Sadykova |
| Keywords: | 智慧資產投資
策略
公司績效表現
台灣
旅館業
Intellectual capital investments
Strategic orientation
Firm performance
Taiwan
Lodging industry |
| Date: | 2012 |
| Issue Date: | 2013-09-02 15:15:36 (UTC+8) |
| Abstract: | This study seeks to investigate the extent of the impact of intellectual capital on profitability, as well as the relationship among intellectual capital elements in lodging industry firms pursuing different strategic orientations (differentiation or low-cost leadership). Basing these arguments in the resource-based view and using listed hotels in Taiwan, this study conducts multiple regression analysis in order to estimate the impact of investment in three different intellectual capital types (systems capital, customer capital and human capital) on firm performance. Results show that investments in systems capital and human capital directly enhance firm profitability; hence the most important ones. However investment in customer capital has to be interrelated with systems capital for all the firms studied, or interrelated with human capital for firms pursuing differentiation strategy in order to gain incremental positive interaction effect on profitability. In addition, human capital contributes more to performance of differentiators, than low-cost leaders. This study helps managers to identify relevant intellectual capital elements that are essential and consistent with the firm strategic orientation and important to enhance financial performance. Current research is also useful for independent investors of hospitality industry in terms of uncovering important variables that have to be added to the evaluation model of lodging. Finally, this study reveals theoretical implications for further research in the customer services arena.
This study seeks to investigate the extent of the impact of intellectual capital on profitability, as well as the relationship among intellectual capital elements in lodging industry firms pursuing different strategic orientations (differentiation or low-cost leadership). Basing these arguments in the resource-based view and using listed hotels in Taiwan, this study conducts multiple regression analysis in order to estimate the impact of investment in three different intellectual capital types (systems capital, customer capital and human capital) on firm performance. Results show that investments in systems capital and human capital directly enhance firm profitability; hence the most important ones. However investment in customer capital has to be interrelated with systems capital for all the firms studied, or interrelated with human capital for firms pursuing differentiation strategy in order to gain incremental positive interaction effect on profitability. In addition, human capital contributes more to performance of differentiators, than low-cost leaders. This study helps managers to identify relevant intellectual capital elements that are essential and consistent with the firm strategic orientation and important to enhance financial performance. Current research is also useful for independent investors of hospitality industry in terms of uncovering important variables that have to be added to the evaluation model of lodging. Finally, this study reveals theoretical implications for further research in the customer services arena. |
| Reference: | References
1. Ambler, T., C.B. Bhattacharya, J. Edell, K.L. Keller, K.N. Lemon, and V. Mittal. 2002. Relating brand and customer perspectives on marketing management. Journal of Service Research 5(August): 13-25.
2. Atkinson, H., and B. J. Brown. 2001. Rethinking performance measures: assessing progress in UK hotels. International Journal of Contemporary Hospitality Management 13(June): 128-135.
3. Aulakh, P.S., M. Kotabe, and H. Teegen. 2000. Export strategies and performance of firms from emerging economies: evidence from Brazil, Chile, and Mexico. Academy of Management Journal 43(3): 342-361.
4. Barney, J. 1991. Firm resources and sustained competitive advantage. Journal of Management 17(March): 99-120.
5. Bergh, D.D. 1993. Don’t “waste” your time. The effects of time series errors in management research: The case of ownership concentration and research and development spending. Journal of Management 19(June): 897-914.
6. Bontis, N. 1998. Intellectual capital: an exploratory study that develops measures and models. Management Decision 36(February): 63-76
7. Bontis, N., and J. Fitz-Enz. 2002. Intellectual capital ROI: a causal map of human capital antecedents and consequents. Journal of intellectual capital 3(3): 223-247.
8. Bontis, N., W. Chua, and S. Richardson. 2000. Intellectual capital and the nature of business in Malaysia. Journal of Intellectual Capital 1(January): 85-100.
9. Bradley, K. 1997. Intellectual Capital and the New Wealth of Nations. Business Strategy Review 8(1): 53-62.
10. Brush, T.H., and K.W. Artz. 1999. Toward a contingent resource-based theory: The impact of information asymmetry on the value of capabilities in veterinary medicine. Strategic Management Journal 20(March): 223-250.
11. Carlzon, J. 1986. Moments of truth. Ballinger publishing company. Cambridge, MA.
12. Carmeli, A., and A. Tisher. 2004. The relationships between intangible organizational elements and organizational performance. Strategic Management Journal 25 (May): 1257-1278.
13. CEPD. 2010. Themed monthly activities for the 10 Key Service Industries to be launched in 2011. The issue date: 2011-08-23 at: http://www.cepd.gov.tw/encontent/m1.aspx?sNo=0015796
14. CERD. 2009. Taiwan’s service industry development plan. The issue data: 2009-08-13 at: http://www.cepd.gov.tw/encontent/m1.aspx?sNo=0012142.
15. Choo, C. W., and N. Bontis. 2002. The strategic management of intellectual capital and organizational knowledge. Oxford University Press.
16. Clayton, W.B., and T. Powers. 2008. Introduction to the Hospitality Industry. New York, NY: John Wiley & Sons.
17. Directorate-General of Budget, Accounting and Statistics, Executive Yuan, ROC Taiwan. Consumer Price Indices. The issue data: 2012-08-13 at: http://www.dgbas.gov.tw/ct.asp?xItem=12092&ctNode=1558.
18. Dzinkovski, R. 2000. The Measurement and Management of Intellectual Capital: An Introduction. Management Accounting 78(February): 32-36.
19. Edvinsson, L., and M.S. Malone. 1997. Intellectual capital. The proven way to establish your company’s real value by measuring its hidden brainpower. London: HarperBusiness.
20. Engstrom, T.E.J., P. Westnes, and S.F. Westnes. 2003. Evaluating intellectual capital in the hotel industry. Journal of Intellectual Capital 4 (March): 287-303.
21. Enz, C.A. 2010. Handbook of applied hospitality strategy. The Cornell school of hotel administration. USA: CRC SAGE Publications, Inc.
22. Erickson, G.S., M. McCall. 2008. Intellectual capital and the hospitality industry. Competition Forum 6 (February): 37-42.
23. Fitz-Enz J. 2000. The ROI of human capital. New York, NY: Amacom.
24. Flamholtz, E.G., M.L. Bullen and W. Hua. 2002. Human resource accounting: a historical perspective and future implications. Management Decision 40 (January): 947-954.
25. Frambach R.T., J. Prabhu, and T.M.M. Verhallen. 2003. The influence of business strategy on new product activity: the role of market orientation. International Journal of Research in Marketing 20(4): 377-397.
26. Ghalayini, A., and J. Noble. 1996. The changing basis of the performance measurement. International Journal of Operations and Production Management 16(8): 63-80.
27. Goold, M., and A. Campbell. 2002. Do you have a well designed organization? Harvard Business Review 80(April): 117-124.
28. Grant, R.M. 1996. Toward a knowledge-based theory of the firm. Strategic Management Journal, 17(Special Issue): 109-122.
29. Greene, W.H. 2000. Econometric analysis. 4th edition. Upper Saddle River. New Jersey, NJ: Prentice-Hall.
30. Gupta, O., and G. Roos. 2001. Mergers and acquisitions through an intellectual capital perspective. Journal of Intellectual Capital 2(September): 297-309.
31. Hall, R.1992. A framework linking intangible resources and capabilities to sustainable competitive advantage. Strategic Management Journal 14(November): 607-618.
32. Heckler, S., K.L. Keller, and M.J. Houston. 1992. The effects of brand repositioning on ad recall. Karl Eller School of Management, Univercity of Arizona.
33. Hitt, M.A., L. Bierman, K. Shimitzu, R. Kochhar. 2001. Direct and moderating effects of human capital on strategy and performance in professional service firms: a resource-based perspective. Academy of Management Journal 44(February): 13-28.
34. Hsiao, C. 1986. Analysis of panel data. Econometric Society Monographs, Cambridge: Cambridge University Press.
35. Hudson, M., A. Smart, and M. Bourne. 2001. Theory and practice in SME performance measurement systems. International Journal of Operations and Production Management 21 (August) :1095-1115.
36. Inma, C. 2005. Purposeful franchising: Re-thinking of franchising roundtable. Singapore Management Review 27: 27-48.
37. Keller, K.L.1993. Conceptualizing, measuring, and managing customer-based brand equity. Journal of Marketing 57 (January): 1-22.
38. Kiechel, W. 1981. Three (or four, or more) ways to win. Fortune 19(October): 181-188.
39. King, C.A. 1995. What is hospitality? International Journal of Hospitality Management 14(September-December): 219–234.
40. Koontz, H., and C. O’Donnell. 1968. Principles of management: an analysis of managerial functions. 4th ed. New York, NY: McGraw-Hill.
41. Lee, J.E., R.F. Ghiselli. 2011. The hidden effect of intangible financial information on the market value of hospitality firms in the United States. Journal of foodservice business research 14(September): 393-404.
42. Lev, B., and P. Zarowin. 1999. The boundaries of financial report and how to extend them. Journal of Accounting Research 37(Autumn): 353-385.
43. Lev, B., and T. Sougiannis. 1996. The capitalization, amortization, and value-relevance of R&D. Journal of Accounting and Economics 21(February): 107-138.
44. Magrassi, P. 2002. A taxonomy of Intellectual capital. Research Note COM-17-1985,Gartner.
45. Namasivayam, K., and B. Denizci. 2006. Human capital in service organizations: identifying value drivers. Journal of Intellectual Capital 7(3): 381-393.
46. Namasivayam, K., and T.R. Hinkin. 2003. The customer’s role in a service encounter: the effects of control and fairness. Cornell Hotel and Restaurant Administration Quarterly 44(June): 26-36.
47. Netemeyer, R., B. Khrishnan, C. Pullig, G. Wang, M. Yagci, D. Dean, J. Ricks, F. Wirth. 2004. Developing and validating measures of facets of customer-based brand equity. Journal of Business Research 57(November): 209-220.
48. Oh, H. 2001. Revisiting Importance-Performance Analysis. Tourism Management 22(December): 617-627.
49. Porter, M. E. 1980. Competitive strategy. New York, NY: Free Press.
50. Porter, M. E. 1985. Competitive Advantage. New York, NY: Free Press.
51. Porter, M. E. 1996. What is strategy? Harvard Business Review (November/December): 61-78.
52. Reinartz, W., and V. Kumar. 2002. The mismanagement of customer loyalty. Harvard Business Review 80(July): 86-94.
53. Riahi-Belkaoui, A. 2003. Intellectual capital and firm performance of US multinational firms: a study of the resource-based and stakeholder views. Journal of Intellectual Capital 4(2): 215-226.
54. Roos, J. 1997. Intellectual capital: navigating the new business landscape. London: Mamillan Press.
55. Rudez, H.N. 2004. Intellectual capital in the Slovenian tourism companies. Ph. D. dissertation, University of Ljubljana, Slovenia.
56. Rudez, H.N., T. Mihalic. 2007. Intellectual capital in the hotel industry: a case study from Slovenia. Hospitality Management 26(March): 188-199.
57. Rushmore, S., K. Fitzpatrick, T. Lam. 2009. 2009 U.S. Hotel Franchise Fee Guide. Mineola, NY: HVS.
58. Saint-Ong, H. 2000. Strategic capabilities: shaping human resource management within the knowledge-driven enterprise. Available at: http://knowinc.com/saint-onge/library/strategic.htm.
59. Saldamli, A. 2008. Intellectual capital in metropolitan hotels. Journal of Social Sciences 7(Spring): 351-358.
60. Schmidgall, R.S. 2006. Hospitality industry financial accounting. Educational Institute of the American Hotel. MI: American Hotel & Lodging Educational Institute.
61. Shank, J.K., V. Govindarajan. 1989. Strategic cost analysis: the evolution from managerial to strategic accounting. Homewood, Illinois: Richard Irwin Inc.
62. Society of Management Accountants of Canada (SMAC). 1998. The management of intellectual capital: the issues and the practice. Issues Paper #16. The Society of Management Accountants of Canada.
63. Srivastava, R.K., T.A. Shervani, and L. Fahey. 1998. Market-Based Assets and Shareholder Value: A Framework for Analysis. Journal of Marketing 62(January): 2-18.
64. Srivastava, R.K., T.A. Shervani, and L. Fahey. 1999. Marketing, business processes, and shareholder value: An organizationally embedded view of marketing activities and the discipline of marketing. Journal of Marketing 63(December): 168-179.
65. Stewart, T.A. 1999. Intellectual capital: The wealth of organizations. New York, NY: Currency Doubleday.
66. Sveiby, K.E. 1997. The intangible asset monitor. Journal of Human Resource Casting and Accounting 2 (1): 73-97.
67. Sveiby, K.E. 1997. The new organizational wealth: managing and measuring knowledge-based assets. San Francisco, SF: Berrett-Koehler Publishers.
68. Taylor, S.A., G.L. Hunter, and D.L. Lindberg. 2007. Understanding (customer-based) brand equity in financial services. Journal of Services Marketing, 21(4): 241-252.
69. Tourism Bureau. 2010. Annual Report on Tourism 2010 Taiwan, Republic of China. Taiwan: Tourism Bureau at: http://admin.taiwan.net.tw/auser/B/annual_2010_htm/English/index.html
70. Tourism Bureau. 2010. Tourism’s Impact on Economy (Taiwan Tourism Satellite Account). Taiwan: Tourism Bureau at:
71. Tourism Bureau. 2012. Tourist hotels in Taiwan. Taiwan: Tourism Bureau at: http://admin.taiwan.net.tw/public/public.aspx?no=315
72. Tourism Bureau. 2012. Visitor Arrivals by Purpose of Visit, 2012. Taiwan: Tourism Bureau at: http://admin.taiwan.net.tw/statistics/year_en.aspx?no=15 .
73. Tourism Bureau. 2012. Visitor Arrivals by Residence, 2012. Taiwan: Tourism Bureau at: http://admin.taiwan.net.tw/statistics/year_en.aspx?no=15 .
74. Walsh, K., C.A. Enz, and L. Canina. 2008. The impact of strategic orientation on intellectual capital investments in customer service firms. Journal of service research 10(May): 300-317.
75. Wang, W.Y., C.F. Chang. 2005. Intellectual capital and performance in casual models. Journal of Intellectual Capital 6(): 222-236.
76. Weigelt, K., and C. Camerer. 1988. Reputation and corporate strategy: a revive of recent theory and applications. Strategic Management Journal 9(September-October): 443-454.
77. Wu, C. 2010. Business Valuation: Cases Studies Analysis. Taiwan: BestWise. |
| Description: | 碩士
國立政治大學
企業管理研究所
100355071
101 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0100355071 |
| Data Type: | thesis |
| Appears in Collections: | [企業管理學系] 學位論文
|
Files in This Item:
| File |
Size | Format | |
|---|
| 507101.pdf | 1088Kb | Adobe PDF2 | 455 | View/Open |
|
All items in 政大典藏 are protected by copyright, with all rights reserved.
|
