策略意圖、資源豐沛對企業成長影響之研究 --以台灣資訊電子業為例

Abstract

This study examines the effect of firm manager’s strategic intent, firm slack in resources on the firm growth. This study was planning to empirically test the Penrose’s (1959) theory of firm growth by observing the effect of firm’s manager’s strategic intent on the firm growth, and the impact of firm slack in resources on the relationship between strategic intent and firm growth. The sample of this study was the firms go public in the Taiwanese information technology industry. This study observed 95 information technology firms of the year 1997. The independent variable was the growth intent, which was the announcement reported by mass media during the 1995-1997. The dependent variable was the sales growth rate, which was the change rate between the year of 1997 and 2002. The moderate variable was the slack in financial resources. The result of regression model revealed: The correlation between strategic intent and firm growth was positive, but the significant level was not. However, it exist the moderate effect of slack in financial resources on the relationship between strategic intent and firm growth. It obviously that firm without slack in resources would not accomplish the goal of firm growth. Owing to the moderate effect was different as the different slack. This study sorted slack in financial resources into two types: the slack of actually resources and slack of potential resources. And, the salck of actually resources could divide into: (i) slack of available resources, which was meaning the firm’s liquid resources and the current ratio was the example. And (ii) slack of recoverable resources, which was meaning the assimilated into the system design of firm and the ratio of general and administrative expenses to sales was the example. The difference between slack of actually and potential resources were the resource’s possession and generation. The slack of actually resources belong to current resources amount possessed by firm. And the slack of potential resources belong to the potential resources capacity generated by firm. In the effect of slack on the relationship between strategic intent and firm growth, this study found: When the firm’s manager behaves highly strategic intent, the growth performance wourld be lowering as firm with abundant slack of actually resources and tigh slack of potential resources. Base on the result as above, this study proposed three conclusions: 1.It exist the moderate effect of slack in resources on the relationship between strategic intent and firm growth. 2.When actually resources were tight, organizational members spend more time forming negotiating for their fair share of resources. More time spent for coordinating would have creativity, which was benefit for firm growth by resolving managerial complexity question and slow down the diminishing of margin of managerial resources. 3.When firm with capability of generation of slack in resources would have flexibility, which was benefit for firm growth by ladling in resources for growth at the right moment and driving up the growth of the firm.