| Summary: | 碩士 === 國立聯合大學 === 管理碩士學位學程 === 102 === The SRP Model, Strategy-Risk-Performance, is proposed by this research innovatively. It is considered in this research that companies adopt various strategies in order to gain profit. But these strategies might lead to risks, which is the reason the SRP model is proposed here. In this thesis, we adopt five strategy variables, four risk variables and six performance variables with regard to 221 listed companies. The data period is 10 years from 2003 to 2012.
The result shows that Knowledge-density, R&D-density and Labor productivity these three strategies have positive significant effect on 3 different performance variables, while the innovation tendency strategy has negative significant effect on six performance variables. In addition, regarding the affect of risk on company performance, a negative significant effect is found in Total Risk on ROE and beta(β) is found a positive significant effect on ROE and Market Share Rate. Furthermore, it is also found that research intensity strategy has a negative significant effect on beta(β) but adopting Labor productivity strategy has a positive significant effect on beta(β). In managerial implication we suggest that companies shall adopt Knowledge-density, R&D-density and Labor productivity these three strategies which could improve three performance variables at the moment. But what shall be noticed is that the increase of Total Risk would lead to the decrease of ROE. Moreover, it requires intense attention on the beta(β) decreasing due to the adoption of R&D-density strategy which could in turn affect ROE and leads to the drop in Market Share Rate.
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