分拆政策對市場績效的影響研究 : 以中國的基礎電信業務為例

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分拆政策對市場績效的影響研究 : 以中國的基礎電信業務為例

 

Author: 曹淑敏
Cao, Shumin
Title: 分拆政策對市場績效的影響研究 : 以中國的基礎電信業務為例
Fen chai zheng ce dui shi chang ji xiao de ying xiang yan jiu : yi Zhongguo de ji chu dian xin ye wu wei li
The impact of company split on market : performance in the China telecommunications industry
Degree: D.Mgt.
Year: 2007
Subject: Hong Kong Polytechnic University -- Dissertations.
Telecommunication -- China.
Corporate reorganizations -- China.
Department: Graduate School of Business
Pages: xv, 165 leaves : ill., charts (some col.) ; 30 cm.
Language: Chinese
InnoPac Record: http://library.polyu.edu.hk/record=b2251296
URI: http://theses.lib.polyu.edu.hk/handle/200/3859
Abstract: To accelerate effective competition is the government's important objective. The present intervening policies used by most of government mainly include license policy, splitting policy and asymmetry regulating policy focused on the dominant operators. As for China, two major policies changed the whole track and process of the telecommunications industry, which are the mobile business splitting from China Telecom to China Mobile in 1999 and the regional splitting from the original China Telecom to the current China Telecom and China Netcom in 2001. Although the mentioned policies are so crucial, relevant research is very limited, indeed, in-depth discussion on the effects of those policies on the market performance is very little in China. Such kind of blank leads to a blurry conclusion of the assessment of the policies. It is hard to know the specific effects of those splitting policies In contrast, many literatures related to splitting effect and performance could found in the foreign academies both in the enterprise and industry level, most of the research is specifically on the divestiture of AT&T. In this way, this thesis tries to analyze the effects of the splitting policy on the market performance in China. I hope such a systemic analysis could give an objective-oriented evaluation on the effects of these policies and give suggestions for future policies. According to the specific situation of the telecommunications industry development in China, this thesis analyzes the question from two aspects. Firstly, the thesis considers the telecommunications industry as a whole. Then, we pick up some necessary indicators as the variables measured the whole industry performance, which include penetration rate, price, number of subscribers, revenue per employee, the ratio of investment and revenue, total investment and access rate. The methods uses in this thesis are direct comparison, forecasting trend and econometric methods. In order to get more exact effect, several control variables are selected to eliminate the interruptions of these factors when doing the econometric analysis based on the panel data. The control parameters include regional GDP, price, network effect, PHS policy dummies and time series trend. Secondly, the thesis also did case studies on China Telecom and China Mobile, the two large operators. Revenue per employee, the ratio of investment and revenue, number of subscribers served per employee and access rate are selected, direct comparison and trend forecasting are used. Based on the above analysis, this thesis concludes that: the splitting policies in the year of 1999 and 2001 in China have positive effects on the Chinese telecommunication market. They increases the number of mobile users and fixed users, penetration rate, revenue per employee, ratio of investment and revenue and access rate. The thesis achieves the similar results through the case studies on the enterprises, which indicates that the productivity and the quality of the service were improved significantly. Based on these conclusions, it is found that the splitting policies in 1999 and 2001 in China have a positive effect on the telecommunications market performance. The splitting policies accelerate the competition, improve penetration rate, service quality, and productivity, thus the policies attain their objectives. In addition, some other irradiative and interesting findings are as below. Firstly, the splitting policies have different effects on different operations. Although the splitting policies raise the whole telecommunications penetration rate, the effect of mobile service is much bigger. And the effects on the monopolized fixed operation seem to be limited. Such result means, the splits have more influential effect on the competitive operations. Secondly, to get more effective results, it is important to choose the proper time and method. The splitting policies in the year of 1999 peeled off the mobile operation successfully, which created a better environment for development of the mobile service. At that time , the global mobile service was in the phase of the rapid development. Therefore, such kinds of policies improved the development of the Chinese mobile market remarkably, and effected the fixed operation indistinctively. Regarding the split in 2001, the way to split regionally seems not appropriate to break up the monopolization in the fixed network; therefore, no effective competition formation came into being later. In general, comparing with the policies in 2001, the first split got more effective results. Which means, it is necessary to use different measures when focus on different phases and markets. Lastly, to get the expected results, consistence among each policy tools is one of the most important factors. The research result shows that, those splitting policies have got more effective results to accelerate the competitive market in the cooperation of the price regulation policy. In conclusion, this thesis analyzed the effect of the splitting policies from not only the performance of penetration rate, service quality, price and benefit, but also from both the individual enterprise and the whole industry perspectives. Besides, it provided readers with some interesting research clues. Therefore, the conclusions of this thesis not only fill in the empty of related research on the evaluation of the two splitting policies, but also give some constructive suggestions to both Chinese policy makers and the foreign related government sectors.

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