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| Guangshun Qiao |
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| ''Does the asset-light business model create value? A panel data stochastic frontier approach for the global semiconductor industry'' |
| ( 2021, Vol. 41 No.3 ) |
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| This paper applies a panel data stochastic frontier approach to investigate
the impacts of different business models in operating efficiencies in the global semiconductor industry. The efficiency scores are linked with the financial ratios and specified by cumulative probit distribution function, cumulative logit distribution function, and the Gumbel function respectively after disentangling the heterogeneity by the within transformation. The estimates by the nonlinear least squares technique indicate that the asset-light fabless companies have relatively higher efficiency scores among the different operating models in the global semiconductor industry. |
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| Keywords: asset-light business model, vertical specialization, semiconductor industry, stochastic frontier analysis, operating efficiency |
JEL: L6 - Industry Studies: Manufacturing: General
D2 - Production and Organizations: General |
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| Manuscript Received : Sep 30 2020 | | Manuscript Accepted : Jul 18 2021 |
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