scholarly journals PERFORMANCE EVALUATION OF THE SEMICONDUCTOR INDUSTRY BASED ON A METAFRONTIER APPROACH

2018 ◽  
Vol 24 (3) ◽  
pp. 825-843 ◽  
Author(s):  
Ching-Ren CHIU ◽  
Chen-Ling FANG ◽  
Seng-Su TSANG ◽  
Yi-Fen CHEN
Keyword(s):  
Performance Evaluation ◽  
Debt Crisis ◽  
Semiconductor Industry ◽  
Malmquist Productivity Index ◽  
Manufacturing Companies ◽  
Ic Design ◽  
Ic Manufacturing ◽  
Ic Packaging ◽  
European Debt Crisis ◽  
Negative Growth

The semiconductor industry has been regarded as one of the most important industries by Taiwan due to the market share of Taiwan’s semiconductor industry in 2011 ranked second worldwide. However, the European debt crisis triggered a global economic recession in 2011, causing Taiwan’s output of semiconductors in 2010 and 2011 to show negative growth. This paper will mainly explore, from the performance evaluation perspective, the Malmquist productivity index of the Taiwan’s semiconductor industry based on a metafrontier approach. The empirical results show that the European debt crisis in 2011 had an impact on Integrated circuit (IC) design companies and IC manufacturing companies, but that there was no influence on IC packaging and testing companies when measuring static efficiency. From the viewpoint of dynamic productivity performance, the paper finds that the main reason for the negative growth of IC packaging and testing companies and IC design companies came from a backward movement in technical change, but the main reason for the negative growth of IC manufacturing companies derived from a decline in pure technical efficiency.

INTELLECTUAL CAPITAL AND PERFORMANCE IN THE SEMICONDUCTOR INDUSTRY

2019 ◽  
Vol 65 (05) ◽  
pp. 1323-1348
Author(s):  
KUO-CHENG KUO ◽  
WEN-MIN LU ◽  
GRACE TZU-YI CHANG
Keyword(s):  
Intellectual Capital ◽  
Integrated Circuit ◽  
Semiconductor Industry ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Efficient Production ◽  
Ic Design ◽  
Ic Packaging ◽  
And Performance ◽  
The Relationship

This paper researches a method of rating competitiveness involving the estimation of the performance of semiconductor firms through Malmquist productivity index (MPI) and metafrontier Malmquist productivity index (MMPI). Regressions are used to find the relationship between intellectual capital and performance. Overall, technological innovations contribute to the improvement in the integrated circuit (IC) design sub-industry while increases in efficient production allow the IC foundry sub-industry and the IC packaging and testing sub-industry to maintain position. The regression results show human capital was critical to technological innovation while relational capital was important to efficient production.

The Vertical Disintegration of Taiwan's Semiconductor Industries: Price and Non-Price Factors

2004 ◽  
Vol 07 (04) ◽  
pp. 547-569 ◽  
Author(s):  
Shiu-Wan Hung ◽  
Chyan Yang ◽  
Cheng-Few Lee
Keyword(s):  
Integrated Circuits ◽  
Integrated Circuit ◽  
Semiconductor Industry ◽  
Market Price ◽  
Government Support ◽  
Ic Design ◽  
Vertical Disintegration ◽  
Ic Manufacturing ◽  
The World ◽  
Future Challenges

Taiwan's semiconductor industry has been prominent and ranks number four in the world. The vertical disintegration model of Taiwan's semiconductor is a very unique one among the integrated circuit industries around the world. The objective of this paper is to study the vertical disintegration management of Taiwan's semiconductor industries. A price model which there are both integrated (IDM) and unintegrated (IC foundry and IC fabless separated) firms was presented. A vertical disintegration model in which there is a Cournot–Nash equilibrium at both stages of production, upstream (IC design) and downstream (IC fabrication), has been proposed to explain analytically the market price changes subjected to vertical disintegration. It was suggested that the market price of the integrated circuit decreases if the numbers of IC fabless firms are more than half of the total IC firms and are more than the numbers of IC manufacturing firms. In addition, five non-price factors leading to the vertical disintegration of Taiwan's semiconductor industries have been proposed: (1) industrial localization and cluster, (2) fast changes of technology, (3) significant increase of development cost, (4) emergence of IC fabless, and (5) government support. By spinning off the equipment division which needs a high capital, the semiconductor company can actually make profits by concentrating more on the increasingly complex integrated circuit designs. The disintegrated foundry companies can provide advantages of more specialty, higher quality, lower cycle time and good cooperation relations for the IC fabless firms. The vertical disintegration of integrated circuits is expected to be the trend for future for semiconductor manufacturing. In addition, the future challenges and directions of Taiwan's semiconductor industries were also discussed.

Same Story, Different Place?

2018 ◽  
Author(s):  
Viral V. Acharya ◽  
Tim Eisert ◽  
Christian Eufinger ◽  
Christian Hirsch
Keyword(s):  
Banking Sector ◽  
Debt Crisis ◽  
Banking System ◽  
Policy Implications ◽  
Balance Sheets ◽  
System P ◽  
Loan Supply ◽  
European Banking ◽  
European Debt Crisis

This chapter compares the recapitalizations of the Japanese banking sector in the 1990s with those in the ongoing European debt crisis. The analysis points to four main policy implications. First, recapitalizing banks by insuring or purchasing troubled assets alone is not likely to solve the problem of banks’ weak capitalization, as this measure is not able to adjust the extent of the recapitalization to the banks’ specific needs. Second, the amount of the recapitalization should be based on actual capital shortages and not risk-weighted assets to avoid banks decreasing their loan supply. Third, banks should face restrictions regarding the amount of dividends they are allowed to pay out. Finally, banks must be induced to clean up their balance sheets and reduce the amount of bad (non-performing) loans to rebuild confidence in the European banking system.

Timing Does Matter: Institutional Flaws and the European Debt Crisis

2021 ◽  
pp. 1-24
Author(s):  
Valerio Filoso ◽  
Carlo Panico ◽  
Erasmo Papagni ◽  
Francesco Purificato ◽  
Marta Vázquez Suárez
Keyword(s):  
Debt Crisis ◽  
European Debt Crisis

Consequences of South European Debt Crisis

2013 ◽  
pp. 3-12
Author(s):  
Yu. Kvashnin
Keyword(s):  
Focal Point ◽  
Debt Crisis ◽  
European Countries ◽  
Global Markets ◽  
European Region ◽  
International Specialization ◽  
European Debt Crisis ◽  
Of Greece

Debt crisis in South European region turned out to be the focal point of the European debt crisis. It made explicit fundamental disproportions in the development of the Eurozone, in particular strict division between the Center and the Periphery. After joining to the Eurozone South European countries faced further deterioration of their positions in the global markets and fixing of an unfavorable type of their international specialization. Such situation can be seen most evidently in the case of Greece.

scholarly journals Analysis of the Impact of External Shocks on the Russian Banking System in the XXI Century

2019 ◽  
Vol 13 (4) ◽  
pp. 51-61
Author(s):  
O. S. Kochetovskaya
Keyword(s):  
Banking Sector ◽  
Debt Crisis ◽  
Banking System ◽  
Capital Inflows ◽  
External Financing ◽  
External Shocks ◽  
The Usa ◽  
European Debt Crisis ◽  
Favorable Conditions ◽  
The Impact

The main objective of the study was the identification of the key channel of impact of positive and negative external shocks on the Russian banking system for the period from 2000 to 2017. In conducting the study the author used systematic and statistical methods of analysis. Throughout the named period, the banking sector of Russia was always under the influence of one or another external shock: rising and falling oil prices; favorable conditions for obtaining financing on the global capital market; the global financial and economic crisis; the European debt crisis; the tapering of the quantitative easing policy in the USA; sanctions imposed on Russia by the Western countries. In the pre-crisis period, capital inflows became the main channel for the transmission of external shock. In the course of the European debt crisis, problems with attracting external financing became a key channel for the transfer of external shock. During the global crisis and the crisis of 2014–2016 the channels of transmission of external shocks to the banking sector of Russia, despite various causes, were in many ways similar. So, the main channels were the outflow of capital, the restriction of external financing, the collapse of the ruble exchange rate, and the state of confidence in the banking sector.

scholarly journals Design, Implementation and Detection of Hardware Trojans in Sequential systems

2019 ◽  
Vol 8 (4) ◽  
pp. 3665-3670
Keyword(s):  
Integrated Circuits ◽  
Technological Development ◽  
Semiconductor Industry ◽  
Quiescent State ◽  
Manufacturing Companies ◽  
End User ◽  
Hardware Trojans ◽  
Threat Level ◽  
Telecommunication Companies ◽  
Health Care Equipment

For decades, digital systems have been designed based on assumptions that the underlying hardware, though not perfectly reliable, is free of malicious elements. The demand for IC’s is greatly increasing due to tremendous technological development. Without appropriate resources the companies are hard pressed to produce trusted IC’s. This is driving the companies into the ‘fabless’ trend predominant in semiconductor industry, where the companies are depending on cheaper foundries for the IC fabrication instead of depending on their own resources. This growth brings with it a big rise in threat level in terms of Hardware Trojans that hits the manufacturing companies which make use of Integrated Circuits. This transcends many industries, including strategic organizations and telecommunication companies, mobile phones and computers, embedded systems used in domestic applications and health care equipment. These adversarial inclusions are generally triggered to do malicious modifications in the end user system by the intruder, which is difficult to detect in their quiescent state. This paper focuses on understanding Hardware Trojans, their implications and detection methodologies. It is extremely important for all industries and more so for defense organizations, who are involved in developing systems to protect the nation’s boundaries.

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