ความสัมพันธ์ระหว่างพันธมิตรทางกลยุทธ์กับการดำเนินงานทางการเงิน ของอุตสาหกรรมบริการในตลาดหลักทรัพย์แห่งประเทศไทย / วีรพล แสงมณี = The Relationship between strategic alliances and financial performance the study of services sector on the Stock Exchange of Thailand / Weeraphon Sangmanee
The main objective of this thesis is to study the relationship between strategic alliances and financial performance in service industries. The alliance characteristics comprise (1) the number of alliance, (2) the length of time of strategic alliance formation, (3) the reputation of ally partners, and (4) the importance of ally partners. Also, the types of strategic alliances in terms of the extent of engagement are also examined, including (1) loose market relationship. (2) contractual relationship. (3) formalized ownership/relationship, and (4) formal integration. The sampling frame covers all service sectors in the Stock Exchange of Thailand. A pilot study was carried out with all companies in the entertainment sector. In-depth interviews were used to test and modify the main survey instrument. In the main study, self-administered questionnaires were sent to the accounting manager of all 73 organizations listed in the 8 service industries. Although with extensive telephone follow-ups, only 38 firms (52%) responded. Financial performance ratios-- Net Sales, Cost of Good Sold. Net Income, Return on Asset. Return on Net Asset and EBIDA Margin-- were also collected from the firm's financial reports for 5 years (fiscal year 1999-2003). The results showed no relationship between the strategic alliance characteristics and financial performances. However, the firms engaging in different types of strategic alliances appeared to differ in their financial performances. Contractual and formalized types of strategic alliances differed significantly from the Formal Integration in terms of their net profit margins.