A General Theory of Market Competition - M Theory
Chih-Hung Yeh, Tsung-Huai Chang
Available Online August 2013.
- https://doi.org/10.2991/icassr.2013.63How to use a DOI?
- Market Share and Profit, General Theory of Market Competition, M Theory, Market-share Trap, PIMS
- We elaborate the firm theory on market structures (with consideration of behavioural doctrine, industry- and firm-specific features) into a General Theory of Market Competition (or M Theory for easy referring) to explore and construct a clearer and more complete theory on essence of the market competition, which encompasses firms’ profit-market share relations, the prime subject of PIMS. The General Theory reconciles roughly three-decade disputing arguments and empirical figures on market share-firm’s profit relations. M theory upholds positive market share-profit relations, with exception of what we call Market-share Trap where the positive relations is not held or uncertain. We also undertake an empirical study on the global IC foundry industry; the result of positive relations between market share and firm’s return is consistent with M theory.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Chih-Hung Yeh AU - Tsung-Huai Chang PY - 2013/08 DA - 2013/08 TI - A General Theory of Market Competition - M Theory BT - 2013 International Conference on Applied Social Science Research (ICASSR-2013) PB - Atlantis Press SN - 1951-6851 UR - https://doi.org/10.2991/icassr.2013.63 DO - https://doi.org/10.2991/icassr.2013.63 ID - Yeh2013/08 ER -