96 5 1-24 TFT-LCD Christensen & Raynor2003 TFT-LCD -- TFT-LCD
2 96 5 TFT-LCDThin Film Transistor-Liquid Crystal Display TFT-LCD 2005 175 200 1996 2,586 787 6,936 1980 TFT-LCD 5 2006 9 30 2,250 1998 7.5 2006 9 30 2,580 TFT-LCD Palich, Cardinal & Miller2000 30 55 meta-analysis U Hitt, Hoskisson & Ireland, 1990 Christensen & Raynor2003 interdependence modularity
3 TFT-LCD 2002 IC IC -- IC LED Christensen & Raynor2003 Carlile & Christensen2005 TFT-LCD reliability Neuman, 2006 authenticity fair Neuman, 2006
4 96 5 TEJ 1 1 FPDFlat Panel Display Display Search 2005 TFT-LCD 175 200 LTPSLow Temperature Poly Silicon OLEDOrganic Light Emitting Display PDPPlasma Display Panel TFT-LCD TFT-LCD FPD TFT-LCD STNSuper Twisted Nematic Toppoly LTPS PDP RiTdisplay Univision Passive Matrix, PM OLED Active Matrix, AM OLED 1 Glaser & Strauss (1967)
5 Amorphous silicona-sitft-lcd FPD TFT-LCDPDP OLEDLED TFT-LCD TFT-LCD TFT Liquid CrystalLC IC 2004 1 TFT-LCD TFT-LCD 1. / 2. PECVD 3. Sputter 4.LCD 5.Assembly 6. / 1. 1. IC 2. 2. 3. 3. 4. TAB/COG TFT-LCD (Array) (Cell ) (Module) 95.6.30 1 TFT-LCD
6 96 5 PECVD AKT 8 Canon Nikon TEL Shibaura DNS 50% 2004 TFT-LCD 17 monitor 50%32 60% 40 70% 2 17 32 17" LCD Monitor 9% 7% 27% 8% 32" LCD TV 4% 9% 6% 5% 31% 14% 12% 23% Color Filter Polarizer Backlight Driver IC PWB Glass Other 24% 21% Color Filter Polarizer Backlight Driver IC PWB Glass Other PIDA 12/2004 2 17 32 glass substrate 50% --AsahiNEG NHT 3 Merck Chisso Dainippon Ink polarizer Nitto Denko Sanritz Sumitomo LG Optimax TFT-LCD 90% backlight CCFL LGP 70% 2004 CCFL
7 2 TFT-LCD TFT-LCD 1998 TFT-LCD TFT-LCD TFT-LCD TFT-LCD IBM ADI Sharp 1 1 TFT-LCD / 1999 7 1999 5 1999 10 1999 11 2000 1 2001 1 2004 4 IBM Toshiba Sharp 3.5 3 3.5 3.5 3 3.5 4 TFT-LCD PC TFT-LCD 2 TFT-LCD PC 2
8 96 5 IC CRT TFT-LCD 2004 ADRGDRCB ECB 100 2004 2004 $450 25% $333 34% 3 2 TFT-LCD IC IC IC 3C IC PC 4 () PC CRTTFT-LCDPDP CRT TFT-LCD 3 4 2003
9 PDP 1996 8 12 4.5 0.5 5 1996 10 PDP 3 PDP PDP IBM TFT-LCD 1998 3 IBM TFT-LCD 3.5 80 42% 3.6% 2% 12.7% 2000 9 110 9 297 TFT-LCD IC 2002 5 AUO ADR2006 10 19% Samsung LPL () 3.5456
10 96 5 1996 11 3 PDP 1998 07 34 PDP 1999 03 42 PDP 1999 04 TFT-LCD 3.5 1999 07 13.3 TFT-LCD 1999 10 42 PDP 2000 05 17 TFT-LCD 2000 12 15 TFT-LCD 2001 01 TFT-LCD 2001 02 TFT-LCD 2002 07 2002 12 TFT-LCD 2003 02 26 LCD TV 2003 03 2003 05 Universal Display Corporation OLED 2003 07 2003 08 30 LCD TV 2003 09 12ms Response Time 2003 09 46 HDTV LCD TV 2004 10 OLED 2005 01 32 LCD TV 2006 07 7.5 42 () 1999 3.5 TFT-LCD 5 242 3 2000 TFT-LCD 2001 4 876 2002 5 937 2005 6 1917 2006 7.5 2250
11 2500 7.5 2000 6 1500 1000 3.5 4 5 500 0 96 97 98 99 00 01 02 03 04 05 06 1. TEJ 2. 3 5 () ABS 1990 1997 Color FilterCF TFT-LCD TFT-LCD CF 2000 2002 HPDellIBMApple 6 5 2003 2004 6
12 96 5 2001 IBM TFT-LCD IDTechInternational Display Technology IBM 2005 IDTech Sony TFT-LCD 30 LCD TV PolyvisionPolyViewCMV CHIMEI () 1999 3.5 13.3 TFT-LCD 2001 4 20.1 UXGA TN Fast Response TN 170 Super MVA EDU 100% NTSC IBM TFT-LCD IDTech IP 2002 30 2003 20 OLED 47 LCD TV 2005 IDTech Sony 5.5 42 47 LCD TV 56 LCD TV 2006 22
13 () 4 1999 3.5 7.5 85 4 473 5 1020 5.5 1917 2004 --412 2002 8 2005 158 2003 6.37 GDR 3000 2500 5.5 2000 1500 1000 500 3.5 4 5 0 98 99 00 01 02 03 04 05 06 1. TEJ 2. 4
14 96 5 TFT-LCD () TFT-LCD S-1 7 50-70% CF IC S-1 17 monitor 50%32 60% 40 TV 70% TFT-LCD 1. 8 2. 9 3. () S-1 TFT-LCD 7 1 8 TFT-LCD TV CF 9 LCD TV CF Polarizer Backlight 2
15 () 5 1980 2005 TFT-LCD 1996 2586 787 3373 1998 6482 455 6936 1980 2004 3000 2005 12000 10000 8000 6000 4000 2000 0 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 5 1980-2005) () TFT-LCD TFT-LCD 6 2005 2006
16 96 5 2005 2006 7 TFT-LCD CCFL IC IC TFT-LCD 6 TFT-LCD 7
17 TFTLCD V-1 1. 2. 10 3. 2002 2002 TFT-LCD IC 2003 Inverter 2004 IC 2005 2006 3 3 CEO 10
18 96 5 3 ( ) * CF 30.84%2006/07 2003** 90% 39.70%2006/08 x 2006 IC 45.40%2006/06 x ( ) 80.00%2006/05 2005 2004 IC 10.98%2006/07 x x 2002 30% CCFL 9.32%2006/07 2005 (Inverter)59.37%2006/07 x 2003 53.37%2006/07 2005 50.00%2006/03 2006 50% 17.28%2006/07 x 2002 TEJ 2006/08/22 * **,2004/10 *** TFT-LCD 1998 1999 TFT-LCD 2001 IC 2003 2004 100% IC 2005 2006 LED
19 1999 IC LED 4 4 4 ) * CF -- -- -- -- 100% IC 14.00%2006/03 100.00%2006/03 2001** 2004 CCFL36.00%2006/03 x 2004 15.00%2006/03 x 10.00%2006/03 x 2005 2005 -- -- -- -- 70% 40.00%2006/03 x 2006 LCM -- -- -- -- 49.00%2006/03 2004*** 17.08%2006/07 1999 77% 8.00%2006/03 x 2003 LED 6.65%2006/06 x x 2006 TEJ 2006/08/22 * ** IC *** 2000 LCD2004 **** 8 8 2002 CF IC CCFL 1999 IC CCFL LED TFT-LCD
20 96 5 I-2 I-3 96 97 98 99 00 01 02 03 04 05 06 CF IC IC IC CF 8 TFT-LCD L E D Christensen & Raynor2003 TFT-LCD 1. 2. 3. 4.TFT-LCD Hitt et.al1990 7 Intel Microsoft
21 Palich et al, 2000 TFT-LCD late-movers Christensen & Raynor2003 first-movers Mintzberg, 1979 1 TFT-LCD TFT-LCD V-1 94.05.30 V-2 TFT-LCD 94.01.22 I-1 TFT-LCD 94.04.30 I-2 TFT-LCD 94.04.09 I-3 TFT-LCD 94.04.01 S-1 TFT-LCD 94.01.20 S-2 TFT-LCD TFT-LCD TFT-LCD 94.01.21
22 96 5 1. 2003 2. 2004 -- TFT 3. 2004 -- 2004 4. 2005 6 13 C3 1. Carlile, P. R., & Christensen, C. M. 2005. The Cycles of Theory Building in Management Research. unpublished manuscript, School of Management, Boston University, 1-24. 2. Christensen, C. M., & Raynor, M. E. 2003. The Innovator s Solution: Creating and Sustaining Successful Growth, Boston: Harvard Business School Press. 3. Glaser, B., & Strauss, A. 1967. The Discovery of Grounded Theory. New York: Aldine de Gruyter. 4. Hitt, M. A., Hoskisson, R. E., & Ireland R. D. 1990. Mergers and Acquisitions and Managerial Commitment to Innovation in M-Form Firms. Strategic Management Journal, 11:29-47. 5. Mintzberg, H. 1979. The Structuring of Organizations: A Synthesis of Research. Englewood Cliffs, NJ: Prentice-Hall. 6. Neuman, W. L. 2006. Social Research Methods: Qualitative and Quantitative Approaches (6nd ed.), Boston: Pearson Education Inc. 7. Palich, L. E., Cardinal, L. B., & Miller, C. C. 2000. Curvilinearity in the Diversification-Performance Linkage: An Examination of Over Three Decades of Research. Strategic Management Journal, 21:155-174.
23 The Vertical Integration Strategy of AUO and CMO Yu-Chuan Lin Department of Business Administration, Meiho Institute of Technology Abstract Taiwan has recently put emphasis on TFT-LCD industry, which is founded on the well-developed local PC and IC industries. When this industry emerged, the capital market in Taiwan had been quite prosperous. So it could raise sufficient fund much easier than the other industries to expand capacity rapidly and do vertical integration. Christensen & Raynor (2003) point out, if all the competing products are good in performance, modularity outsourcing strategy should be carried out to reduce the cost and increase the flexibility and speed. However, this study finds the two biggest TFT-LCD firms, AUO and CMO, are quickly doing vertical integrating while this industry is getting more mature and the product performance is getting better. In this study, the author analyzes the above two cases on this phenomenon through deep interview and secondary data and finds that under the conditions that the two firms profit in TFT-LCD assembly is lower than the component-manufacturing firms, the industry technology is stable and their capital structures are sound, they do vertical integration with low risk to improve their profitability. Key words: TFT-LCD, AUO, CMO, vertical integration
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