The Impact Of Channel Equity Based On Resource View Over Enterprise Performance

With the competitive advantage of the difficult to maintain, channel has become an increasingly important business resources. Since accession to WTO, the operating mode of channel-based mergers and acquisitions is up to hundreds. Why is there so much behavior of channel based acquisition happen? Marketing channels bear tasks of delivering and creating value to the customer, channel relationships has "non-immediate extinction", "immediately metastatic" (Wu Kaiya, Di Yun-chu, 2003), and sales network,which is becoming the key areas of business opportunities in for manufacturer. How to measure the value of channel equtiy become the core of channel-based mergers and acquisitions the way manufacturer operate.In theory, the theoretical study of channel focused on three areas: channel structure, channel behavior and channel relationships. "Channel equity" is the cross-zone of three areas. Since Srivastava et al first proposed "channel equity" concept in 1998, so far only ten years, theory and practice related is more lack, understanding of channel equity is only at a preliminary stage, the existing theory flawed to varying degrees:â‘ content and nature of channel equity is not in-depth analysis in theory and practice, lacking sufficient knowledge hidden in the channel network resources.â‘¡Most analysis of channel equity is classified as marketing management areas in theory, has not yet concered value of " channel equity " in the theoretical basis, and not raised effective marketing model to measure the channel equity in the studyâ‘¢the mode of value action of channel equity as a strategic asset to enhance enterprise performance is not yet clear, lacking empirical analysis support. Therefore, the theory and analysis model of channels equity is urgently needed to establish and improve in both the theory and practice to help companies evaluate the value of channel equity acquired companies. In view of this, this paper attempts to reexamine "channel equity"from a resource perspective, using theoretical research and empirical analysis, qualitative analysis and quantitative analysis and model building methods, systematically exploring the concept and content of channel equity and impact on firm performance from the following aspects in order to promote and improve the theoretical system of channel equity:(1) The paper studies a detailed concept of assets in economics, based on this concept of development, well-founded interpretation of the "channel equity",that is meaning "channel network" based "channel relationship", using relationship marketing theory, channel relationships theory, relational capital theory, market-based assets theory and social network theory, under view of resource using concept of future earnings as defined the concept and features of channel equity for content analysis and description of channel equity. The research suggests that channel equity is the intangible economic resources that companies develop and maintain specific network of organizations formed in the process, can be used, can bring future economic benefits. Channel equity is a kind of network resources, through the embedded channel relationship network, providing access to network information, resources, markets and technologies, and identifing the relationship among market assets, marketing resources and channel equity.(2) Channel equity is a channel network resources and the sense of measure reflected marketing value, through interviews and theoretical analysis to explain the elements of channel equity identified the feasibility. The marketing channel is seen as a multi-organizational alliances and channels relationship between members is a typical representative of social networks (Contractor and Wonchan, 2002). Channels equity, including three dimensions: the relationship structure, relationship quality and relationship cognitive. The research explained dimensional analysis and indicators and proposed a 24-items contained measure scale of enterprise channel equity and verified reasonableness of scale of channel equity through exploratory and confirmatory factor analysis.(3) The paper builds the channel equity management framework of resource-based view, emphasizing the importance of business capacity as the driving force of channel equity. This paper follows strategic analysis framework resource based view through normative analysis to construct a " channel equity - corporate capability - corporate performance" concept model, using confirmatory factor analysis and structural equation model analysis, this paper examines direct and indirect effects of channel equity on firm performance, compared to the intermediate effect, and then analyze the internal mechanism about channel network affecting the enterprise performance from the more micro level, illustrates the value of channel equity, which explains in more depth with the reasons why business enterprises of the same channel have different return.(4) The paper clears mode of action about channel equity on firm performance. Enterprise channel equity have a direct and indirectly impact on business performance, corporate marketing and technical capabilities through the intermediary role of indirect effects to business performance, and its indirect effects of channel equity is greater than the direct impact on business performance;meanwhile, the status of channel equity determine the path of enterprise capabilities, the role of relationship quality dimensions to marketing capability is the largest coefficient, indicating that the relational quality between the conduction through the marketing capabilities will be more enterprise performance; cognitive dimensions to technological capability is the most significant impact, this may be because similar language (terminology) for the technical information and knowledge acquisition, absorption form a platform which is an effective guarantee of enterprise technical innovation. The three dimensions of channel equity have significant differences impact on firm performance: the most significant is relationship quality, followed by cognitive dimension, and finally the relationship structure dimensions.The research defines the concept of channel equity based resource view and explains impact of channel equity on the business performance,which solves the current situation that theoretical basis research of channel equity is not clear, that there is not scale of measurement be measured, to promote and develop the theoretical system of channel equity, conducive to business understanding and controlling of relationships between enterprises, providing companies how to identify aspects benefited from downstream channel members, so as to solve the marketing channel relationship management myopia. While, though dialysising mechanism that company is access to the channel network achieving heterogeneous resources, the research reveales the modus operandi of channel relationships constituting a competitive advantage from the perspective of enterprise resourses, clearing path of role that channel network constitute competitive advantages , helping companies master the contribution of corporate performance and understand as a reference basis in mergers and acquisitions of channel, but also manage"channel relationships" for business, support by government and industry organizations, assist enterprises to promote social circulation to provide information of decision-making.