2013 5 4 229-250

229

IJCS2013005
2013 2 19 2013 7 19 2013 8 6

2003 2009

2003 2007 2008 2009

40227 250 +886-4-22840571 635

E-mailcsvincentlin@dragon.nchu.edu.tw
40227 250 +886-4-22840571
635E-mailchang610509@gmail.com

International Journal of Commerce and Strategy

230

2013, Vol. 5, No. 4, 229-250

Using Neuro-fuzzy Model to Explore the Relationship

between Strategic Fit and Firm Performance
Chin-Shien Lin

National Chung Hsing University

Ruei-Yuan Chang

Ming Dao University Hungkuang University

Providence University Feng Chia University

Paper No.: IJCS2013005

Received February 19, 2013First Revised July 19, 2013Accepted August 6, 2013

This research is trying to explore the firm performance from the strategic fit perspective. Based on the
contents of Industrial Organization School and Resource Based View, this research divides the strategic fit of
a company into external and internal fits, and explores how these fits affect the performance by utilizing the
profile deviation approach. With panel regression technique applied to the electronic enterprises listed in the
Taiwan's Stock Market from 2003 to 2009, the empirical results derived show that the higher the external and
internal fits, the better the performance. However, the empirical results do not show a significant effect on
performance from the interaction term between external and internal fits. This research applies neuro fuzzy
further to explore the possible effect on performance from the interaction term between external and internal
fits. The data set within the interval from 2003 to 2007 is used to construct the knowledge base among
these variables, and the data from 2008 to 2009 is used to verify the model validity derived. The empirical
results show that the knowledge base not only can provide the decision makers the practical implications,
this technique also show the possible effect on performance from the interaction term which is undetected
by the panel regression model. This technique can be a possible solution to problems where there exists a
complicated relationship among the variablesg.
Key Words: Strategic Fit, Industrial Organization, Resource Based View, Neuro Fuzzy.

Chin-Shien Lin, is a Professor in the Department of Business Administration, National Chung Hsing University,
Address: No. 250, Kuo-Kuang Rd., South Dist., Taichung City 40227, Taiwan, Tel: +886-4-22840571 ext. 635, E-mail:
csvincentlin@dragon.nchu.edu.tw The Corresponding Author, Ruei-Yuan Chang, is an Adjunct Assistant Professor in

the Department of Hospitality Management of Ming Dao University, the Department of Computer Science and
Information Management of Hungkuang University, the Department of Finance of Providence University and the
Department of Accounting of Feng Chia University , Address: No. 250, Kuo-Kuang Rd., South Dist., Taichung City
40227, Taiwan, Tel: +886-4-22840571 ext. 635, E-mail: chang610509@gmail.com

2013

C.-S. Lin and R.-Y. Chang

231

Venkatraman (1989)

(Industrial Organization, IO)

(Moderation) (Mediation)

(Matching) (Gestalts) (Profile

(Structure-conduct-performance,

deviation) (Covariation)

SCP)

(Bain, 1948; 1956; Mason, 1939)

(Resource Based View, RBV)

(Zaefarian et al., 2013)

(Barney, 1991; Grant, 1991; Wernerfelt, 1984)

IO RBV

RBV

(Neuro-

SWOT

fuzzy)

(Andrews, 1971)

IO (Foss, 1996)

RBV IO SWOT

(Foss, 1997)

(Foss, 1996; 1997; Spanos and

Lioukas, 2001)

Andrews (1971)

( ) (

Venkatraman (1989)

) IO

RBV

IO RBV

(Mauri and Michaels, 1998)

IO RBV

(Miller,

1992)

232

International Journal of Commerce and Strategy

December

Galbraith and
Nathanson (1979)

(Miller, 1981; Venkatraman, 1989)

Drazin and Van de Ven (1985)

(Venkatraman and Camillus, 1984)

(Schoonhoven,

1981)

(Mckelvey, 1982)

Schendel and Hofer

Venkatraman (1989)

(1979)

Porter (1980) Scherer (1980)

(Reductionistic

(Hatten

Perspective)

and Schendel, 1977)

(Systemic Perspective)

(Rumelt, 1982;

Siggelkow, 2001)

Venkatraman and Camillus (1984)

Venkatraman and Camillus (1984)

(Multidimentional) (Holistic)

(Norburn and Miller, 1981)

(McLaren et al., 2011) (Schwartz

and Davis, 1981; Yarbrough et al., 2011)

(Gresov, 1989)

(Burton et al., 2004) RBV

(Drazin and Van de Ven, 1985)

(Conner, 1991)

(Hult et al., 2006;

Kabadayi et al., 2007; Lindow et al., 2010; Raymond

Venkatraman and Camillus (1984)

and Bergeron, 2008; Sun et al., 2009; Venkatraman,

1989; Vorhies and Morgan, 2003; 2005; Xu et al.,

2006; Zaefarian et al., 2013)

2013

C.-S. Lin and R.-Y. Chang

233

(Doty et al., 1993)

(Spanos and Lioukas, 2001)

(Luo and Park,

2001; Nandakumar et al., 2010; Spanos et al., 2004;

Venkatraman and Prescott, 1990)

(Gresov, 1989; Vorhies and Morgan,

Venkatraman and

2003)

Camillus (1984)

(Xu et al., 2006)

RBV

(Miller, 1988)

(Barney, 1991;

Conner, 1991; Grant, 1991; Peteraf, 1993)

(Strategy Environment Fit) (Hrebiniak and Joyce,

1985; Zajac and Shortell, 1989)

(Dierickx and Cool, 1989; Wernerfelt, 1984)

Venkatraman and

Camillus (1984)

IO

IO

(Oliver,

1997)

(Bain, 1956; Mason, 1939)Porter (1991)

Aragon-

Correa and Sharma (2003)

Porter (1991)

(Stewart, 1997)

RBV

(Teece et al., 1997)

(Venkatraman and Camillus, 1984)

(Nahapiet and Ghoshal, 1998; Stewart, 1997)

IO

(McGahan and Porter,

1997)

234

International Journal of Commerce and Strategy

December

RBV

RBV

Mahoney and Pandian (1992)

IO Porter (1980)

Edelman et al. (2005)

Edvinsson and Malone (1997)

2 ( )

IF-THEN

IO

(Spanos and Lioukas,

2001) RBV

IO

RBV IO

(Feigenbaum, 1981; Wei and Dai, 2011)

RBV (Conner, 1991)

Wernerfelt (1984) Porter RBV

Foss (1997)

SWOT

RBV

SWOT

(Andrews, 1971)

IO Porter

(Von Altrock, 1997)

(Foss, 1996) SWOT

Spanos and Lioukas (2001) Porter

(1980; 1991) RBV

2013

C.-S. Lin and R.-Y. Chang

235

(Rumelhart et al.,

1986)

Vellido et

al. (1999) 1992 1998

IF-THEN

78

(Kaneko, 1996)

IF-THEN

Kosko (1992)

(Fuzzy Associate Memories, FAM)

Zadeh 1965
(Fuzzy Sets) (Zadeh, 1965)

( 2006Lin et
al., 2008) (Chen et al., 2009)

(Atsalakis and Valavanis, 2009; Jandaghi et

al., 2010) (Sreekantha and Kulkarni,

2012) (Seyedhoseini et al.,

2010; Vahdani et al., 2012) (Sheu,

2008) (Golec and Kahya, 2007)

Fiss (2007)

( 2006)

IF-THEN

(Mismatch)Fiss (2011)

(Fuzzy Set Qualitative

Comparative Analysis)

IF-THEN

(Von Altrock, 1997)

236

International Journal of Commerce and Strategy

December

(Cross-sectional) (Time Series)

IO RBV

(Panel Data) 2003

IO

2009 7

(Taiwan Economic Journal, TEJ)

RBV

332

7 (Balanced Panel Data)

2,324

(Generalizability)

( )

IO

Bain (1951)

2013

C.-S. Lin and R.-Y. Chang

237

Porter (1985)

(Stuck in the Middle)

(Spanos et al., 2004)

Porter

Kim and Lim

(Concentration-

(1988) Porter

collusion Doctrine)

(Qualls, 1974; Ramaswamy et al., 1994;

Scherer and Ross, 1990)
(Four-firms
Concentration Ratio, CR4)

(Spanos et al., 2004)

(Scherer and Ross, 1990)

Porter
Spanos et al. (2004)

(Hambrick,
1983; Spanos et al., 2004)
Ahmed (2003)
(1)
R = S B DP W I DD T

(1)

R = S = B =
DP = W = I
= DD = T =
(1) (2) (3)

S B = DP + W + I + DD + T + R

(2)

S B DP = W + I + DD + T + R

(3)

(2) (Gross Value Added)(3)

(Incumbent Firm)

(Net Value Added)

( 2008)

(3) (4)

S B DP = W + I + T + NI (Net Income)

(4)

(4)
(Chen et al., 2005)

R&D

(Spanos et al., 2004)

(Spanos et al., 2004)

238

International Journal of Commerce and Strategy

December

(HU) = = +

+ (SC) = (VA)
(HU)

(Resource Profile)

(VAICTM) (8)

(Barney, 1991)

VAICTM = VACA + VAHU + STVA

(Stewart, 1997)

(Value Added
Intellectual Coefficient, VAICTM)

VAICTM

(8)

(Venkatraman and Ramanujam, 1986)

(Aaker and Jacobson, 1987)

(Return on Asset,

ROA)

(Burton et al., 2004; Raymond and

(Roos et al., 1997)

Bergeron, 2008; Zajac et al., 2000)ROA

(Firer and Williams,

2003) VAICTM

Pulic (2000) VAICTM

Edvinsson (1997)

(Chen et al., 2005)

(Value Added
Capital Employed Coefficient, VACA) (5)

1.

2.

3.

(Godfrey and Hill, 1995;

Jacobson, 1988; 1990; Szymanski et al., 1993)

(Value Added Human Capital

Coefficient, VAHU) (6)

(Value Added Structural Capital Coefficient,

STVA) (7)

VACA = VA CE

(5)

VAHU = VA HU

(6)

STVA = SC VA

(7)

VA (Value Added)

(Govindarajan, 1988; Vorhies and Morgan,

(CE) = + =

2003)

2013

C.-S. Lin and R.-Y. Chang

External

239

RB1
External
Internal

ROA

ROA

CoM

Min/Max

Internal

2 2

15%

(External) (Internal)

Euclidean

(ROA)

85%

(Drazin and Van de Ven, 1985)

(1)

(9)

Dist==
Dist

(X
N
i

si

Xi

(9)

X si = s i X i =
15% i N =

IF-THEN

(Term)

(Linguistic Variable)

15%

(External) (Internal)

Euclidean 85%

IF external is low and internal is high, Then ROA is

mediumExternalInternalROA

highmedium low

(1)

(Membership Function)

(10)

Dist==
Dist

(X
N
j

sj

Xj

(10)

X sj = s j X j =

1 0 1

(Grade of Membership)

15% j N =

( )

240

International Journal of Commerce and Strategy

1
( )

low, medium, high

(Internal)

low, medium, high

(ROA)

External
Internal

(External)

December

very low, low, medium, high, very

high

ExternalInternal
{External, Internal} {-2.44, 0.09}
3 4

IF-THEN

External: low (-2.44) = 1.00, medium (-2.44) = .00,

high(-2.44) = .00
I n t e r n a l : low( 0 . 0 9 ) = . 0 0 , medium( 0 . 0 9 ) = . 1 9 ,

high(0.09) = .81

ROA is medium

ROA

IF-THEN

IFTHEN

IF-THEN

IF-THEN

2013

C.-S. Lin and R.-Y. Chang

241

IFTHEN

F LM Pooling Data

Panel Data Hausman's Test

(Fixed Effects)

(Approximate Reasoning)

(Random Effects) (Hausman, 1978)

(Degree of Support, DOS)

THEN

IF

1
2
3

( = 1.22,

p < .001)

(Zimmermann, 1987)

( = 5.26, p < .001)

.16 (p > .1)

(Nauck and
Kruse, 1996)

Kosko (1992)

-19.91 **

-18.15 ***

-18.12 ***

-5.05 ***

-5.30 ***

-5.30 ***

2.64 ***

2.62 ***

2.61 ***

0.20 ***

0.13 ***

0.13 ***

(Stoeva, 1992)

1.20 ***

1.22 ***

5.28 ***

5.26 ***

0.14 ***

0.32 ***

0.32 ***

F Test

2.51 ***

3.21 ***

3.21 ***

LM Test

3.41

37.90 ***

37.93 ***

HM Test

0.16

432.83 *** 3233.52 *** 2489.49 ***

p < .1; p < .05*; p < .01**; p < .001***.

242

International Journal of Commerce and Strategy

December

very high

3 4

1 2

(low) (high)

( )

Von Altrock (1997)

(low) (low)
5

3D

(DOS)

1 DOS

3D

DOS

3D

DOS

45

DOS DOS

DOS

3 DOS 1

3 (very
high) 4If external is medium and
internal is medium, Then ROA is very high 5
If external is low and internal is high, Then ROA is

3
IF

3D

THEN

External

Internal

DOS

ROA

low

low

low

high

low

low

low

medium

low

medium

medium

very high

low

high

very high

2013

C.-S. Lin and R.-Y. Chang

243

5 3D
4

0.29

0.30

0.19

0.20

6.11

6.08

5.71

5.69

RMSE

4 RMSE 5.69

RMSE 6.08

2003 2007 (In-sample) 2008

2009 (Out-sample)

ROA

(Root Mean Square Error,

RMSE) (Coefficient of Determination,

R )
2

RMSE R

R RMSE

2003 2009

244

International Journal of Commerce and Strategy

December

IO Porter

RBV

IO

Porter (1980)

IO SCP

IO

(Hoskisson et al., 1999) Porter (1980)

IO

Hoskisson et al.
(1999)

Venkatraman (1989)

(Luo and Park, 2001;

Tan and Litschert, 1994; Venkatraman and Camillus,

1984) 1

RBV

RBV

(Barney, 1991)

2013

C.-S. Lin and R.-Y. Chang

(Gresov and Drazin, 1997)

(Miller,
1992)

2006

225-250
2006
121152
2008 TFT-LCD

245

S-C-P
1-29
Aaker, D. A. and Jacobson, R., 1987. The Role of Risk
in Explaining Differences in Profitability, Academy
of Management Journal , 30(2), 277-296.
Ahmed, R. B., 2003. Intellectual Capital and Firm
Performance of US Multinational Firms, Journal
of Intellectual Capital , 4(2), 215-226.
Andrews, K. R., 1971. The Concept of Corporate
Strategy , New York, NY: Dow Jones-Irwin.
Aragon-Correa, A. and Sharma, S., 2003. A Contingent
Resource-based View of Proactive Corporate
Environmental Strategy, Academy of Management
Review , 28(1), 71-88.
Atsalakis, G. S. and Valavanis, K. P., 2009. Forecasting
Stock Market Short-term Trends Using a Neurofuzzy Based Methodology, Expert Systems with
Applications , 36(7), 10696-10707.
Bain, J. S., 1948. Pricing, Distribution and Employment ,
New York, NY: Henry Holt.
Bain, J. S., 1951. Relation of Profit Rate to Industry
Concentration, American Manufacturing, 19361940, Quarterly Journal of Economics , 65(2), 293324.
B a i n , J . S . , 1 9 5 6 . Barriers to New Competition ,
Cambridge, MA: Harvard University Press.
Barney, J. B., 1991. Firm Resources and Sustained
Competitive Advantage, Journal of Management ,
17(1), 99-120.
Burton, R., Lauridsen, J. and Obel, B., 2004. The
Impact of Organizational Climate and Strategic
F i t o n F i r m P e r f o r m a n c e , H u m a n R e s o u rc e
Management , 43(1), 67-82.
Chen, H. J., Huang, S. Y. and Lin, C. S., 2009.
Alternative Diagnosis of Corporate Bankruptcy:
A Neuro Fuzzy Approach, Expert Systems with
Applications , 36(4), 7710-7720.
Chen, M. C., Cheng, S. J. and Hwang, Y., 2005.
An Empirical Investigation of the Relationship
between Intellectual Capital and Firms' Market
Value and Financial Performance, Journal of
Intellectual Capital , 6(2), 159-176.
C o n n e r, K . R . , 1 9 9 1 . A H i s t o r i c a l C o m p a r i s o n
of Resource-based Theory and Five Schools
o f T h o u g h t w i t h i n I n d u s t r i a l O rg a n i z a t i o n
Economics: Do We Have a New Theory of the
Firm, Journal of Management , 17(1), 121-154.
Dierickx, I. and Cool, K., 1989. Assets Stock
Accumulation and Sustainability of Competitive

246

International Journal of Commerce and Strategy

Advantage, Management Science , 35(12), 15041511.

Doty, D. H., Glick, W. H. and Huber, G. P., 1993. Fit,

Equifinality and Organizational Effectiveness: A
Test of Two Configurational Theories, Academy of
Management Journal , 36(6), 1196-1250.
Drazin, R. and Van de Ven, A. H., 1985. Alternative
Forms of Fit in Contingency Theory, Administrative
Science Quarterly , 30(4), 514-539.
Edelman, L. F., Brush, C. G. and Manolova, T., 2005.
Co-alignment in the Resource Performance
Relationship: Strategy as Mediator, Journal of
Business Venturing , 20(3), 359-383.
Edvinsson, L., 1997. Developing Capital at Skandia,
Long Range Planning , 30(3), 366-373.
Edvinsson, L. and Malone, M. S., 1997. Intellectual
Capital Realizing Your Company's True Value by
Finding Its Hidden Roots , New York, NY: Harper
Business.
Feigenbaum, E. A., 1981. Expert System in the 1980s,
in Bond, A. (Ed.), Infotech State of the Art Report
on Machine Intelligence , Maidenhead, UK:
Pergamon Infotch Ltd., 27-52.
Firer, S. and Williams, S. M., 2003. Intellectual
Capital and Traditional Measures of Corporate
Performance, Journal of Intellectual Capital , 4(3),
348-360.
F i s s , P. C . , 2 0 0 7 . A S e t - t h e o r e t i c A p p r o a c h t o
O rg a n i z a t i o n a l C o n f i g u r a t i o n s , Academy of
Management Review , 32(4), 1180-1198.

December

Strategic Management Journal , 16(7), 519-533.

Golec, A. and Kahya, E., 2007. A Fuzzy Model for
Competency-based Employee Evaluation and
Selection, Computers & Industrial Engineering ,
52(1), 143-161.
Govindarajan, V., 1988. A Contingency Approach to
Strategy Implementation at the Business-unit
Level: Integrating Administrative Mechanisms
with Strategy, Academy of Management Journal ,
31(4), 828-853.
Grant, R. M., 1991. The Resource-based Theory of
Competitive Advantage: Implication for Strategy
Formulation, California Management Review ,
33(3), 114-135.
Gresov, C., 1989. Exploring Fit and Misfit with
Multiple Contingencies, Administrative Science
Quarterly , 34(3), 431-453.
G r e s o v, C . a n d D r a z i n , R . , 1 9 9 7 . E q u i f i n a l i t y :
Functional Equivalence in Organization Design,
Academy of Management Review , 22(2), 403-428.
Hambrick, D. C., 1983. Some Tests of the Effectiveness
and Functional Attributes of Miles and Snow's
Strategic Types, Academy of Management Journal ,
26(1), 5-26.
Hatten, K. J. and Schendel, D. E., 1977. Heterogeneity
within an Industry: Firm Conduct in the U.S.
Brewing Industry, 1952-71, Journal of Industrial
Economics , 26(2), 97-113.
Hausman, J., 1978. Specification Tests in Econometrics,
Econometrics , 46(6), 1251-1271.

Fiss, P. C., 2011. Building Better Causal Theories: A

Fuzzy Set Approach to Typologies in Organization
Research, Academy of Management Journal , 54(2),
393-420.

Hoskisson, R. E., Hitt, M. A., Wan, W. P. and Yiu,

D., 1999. Theory and Research in Strategic
Management: Swings of a Pendulum, Journal of
Management , 25(3), 417-456.

Foss, N. J., 1996. Research in Strategy, Economics and

Michael Porter, Journal of Management Studies ,
33(1), 1-24.

Hrebiniak, L. G. and Joyce, W. F., 1985. Organizational

Adaptation: Strategic Choice and Environmental
Determinism, Administrative Science Quarterly ,
30(3), 336-349.

Foss, N. J., 1997. Resources and Strategy: A Brief

Overview of Themes and Contributions, in Foss,
N. J. (Ed.), Resources, Firms and Strategies , New
York, NY: Oxford University Press, 3-18.

Hult, G. T. M., Ketchen, D. J., Cavusgil, T. S. and

Calantone, R. J., 2006. Knowledge as a Strategic
Resource in Supply Chains, Journal of Operations
Management , 24(5), 458-475.

Galbraith, J. and Nathanson, D., 1979. The Role

Organizational Structure and Process in Strategy
Implementation, in Schendle, D. and Hoffer, C.
W. (Eds.), Strategic Management: A New View of
Business Policy and Planning , Boston, MA: Little
Brown & Company.

Jacobson, R., 1990. Unobservable Effects and Business

Performance, Marketing Science , 9(1), 74-85.

Godfrey, P. C. and Hill, C. W. L., 1995. The Problem of

Unobservables in Strategic Management Research,

Jandaghi, G., Tehrani, R., Hosseinpour, D., Gholipour,

R. and Shadkam, S. A. S., 2010. Application of

Jacobson, R., 1988. Distinguishing among Competing

Theories of the Market Share Effect, Journal of
Marketing , 52(4), 68-80.

2013

C.-S. Lin and R.-Y. Chang

Fuzzy-neural Networks in Multi-ahead Forecast

o f S t o c k P r i c e , African Journal of Business
Management , 4(6), 903-914.
Kabadayi, S., Eyuboglu, N. and Thomas, G. P., 2007.
The Performance Implications of Designing
Multiple Channels to Fit with Strategy and
Environment, Journal of Marketing , 71(4), 195211.

247

McLaren, T. S., Head, M. M., Yuan, Y. and Chan,

Y. E., 2011. A Multilevel Model for Measuring
Fit between a Firm's Competitive Strategies and
Information Systems Capabilities, MIS Quarterly ,
35(4), 909-929.
M i l l e r, D . , 1 9 8 1 . To w a r d a N e w C o n t i n g e n c y
Approach: The Search for Organizational Gestalts,
Journal of Management Studies , 18(1), 1-26.

Kaneko, T., 1996. Building a Financial Diagnosis

System Based on Fuzzy Logic Production System,
Computers & Industrial Engineering , 31(3-4), 743746.

Miller, D., 1988. Relating Porter's Business Strategies

to Environment and Structure: Analysis and
Performance Implications, Academy of Management
Journal , 31(2), 280-308.

Kim, L. and Lim, Y., 1988. Environment, Generic

Strategies and Performance in a Rapidly
Developing Country: A Taxonomic Approach,
Academy of Management Journal , 31(4), 802-827.

Miller, D., 1992. Environmental Fit versus Internal Fit,

Organization Science , 3(2), 159-178.

Kosko, B., 1992. Neural Networks and Fuzzy System:

A D y n a m i c a l S y s t e m A p p ro a c h t o M a c h i n e
Intelligence , Englewood Cliffs, NJ: Prentice Hall.
Lin, C. S., Khan, H. A., Chang, R. Y. and Wang, Y.
C., 2008. A New Approach to Modeling Early
Warning Systems for Currency Crises: Can a
Machine-learning Fuzzy Expert System Predict
t h e C u r r e n c y C r i s e s E ff e c t i v e l y, Journal of
International Money and Finance , 27(7), 10981121.
Lindow, C. M., Stubner, S. and Wulf, T., 2010.
Strategic Fit within Family Firms: The Role of
Family Influence and the Effect on Performance,
Journal of Family Business Strategy , 1(3), 167-178.
Luo, Y. and Park, S. H., 2001. Strategic Alignment and
Performance of Market-seeking MNCs in China,
Strategic Management Journal , 22(2), 141-155.
Mahoney, J. T. and Pandian, J. R., 1992. The Resourcebased View within the Conversation of Strategic
Management, Strategic Management Journal ,
13(5), 363-380.
Mason, E. S., 1939. Price and Production Policies
of Large-scale Enterprises, American Economic
Review , 29(1), 61-74.

Nahapiet, J. and Ghoshal, S., 1998. Social Capital,

I n t e l l e c t u a l C a p i t a l a n d t h e O rg a n i z a t i o n a l
Advantage, Academy of Management Review , 23(2),
242-266.
Nandakumar, M., Ghobadian, A. and O'Regan, N.,
2010. Business-level Strategy and Performance:
The Moderating Effects of Environment and
Structure, Management Decision , 48(6), 907-939.
Nauck, D. and Kruse, R., 1996. Neuro-fuzzy Systems
Research and Applications Outside of Japan, in
Umano, M., Hayashi, I. and Furuhashi, T. (Eds.),
Fuzzy-neural Networks, Soft Computing Series ,
Tokyo: Asakura Publishing Co., Ltd., 108-134.
N o r b u r n , D . a n d M i l l e r, P. , 1 9 8 1 . S t r a t e g y a n d
Executive Reward: The Mismatch in the Strategic
Process, Journal of General Management , 6(4),
7-27.
Oliver, C., 1997. Sustainable Competitive Advantage:
Combining Institutional and Resource-based
Views, Strategic Management Journal , 18(9), 697713.
Peteraf, M., 1993. The Cornerstones of Competitive
Advantage: A Resource-based View, Strategic
Management Journal , 14(3), 179-191.
Porter, M. E., 1980. The Competitive Advantages , New
York, NY: Free Press.

Mauri, A. and Michaels, M., 1998. Firm and Industry

Effects within Strategic Management: An
Empirical Examination, Strategic Management
Journal , 19(3), 211-219.

Porter, M. E., 1985. Competitive Advantage: Creating

and Sustaining Superior Performance , New York,
NY: Free Press

McGahan, A. and Porter, M. E., 1997. How Much Does

Industry Matter, Really? Strategic Management
Journal , 18(S1), 15-30.

Porter, M. E., 1991. Towards a Dynamic Theory of

Strategy, Strategic Management Journal , 12(S2),
95-117.

McKelvey, B., 1982. Organizational Systematic:

Taxonomy, Evolution and Classification , Berkeley,
CA: University of California Press.

Pulic, A., 2000. VAIC An Accounting Tool for IC

Management, International Journal of Technology
Management , 20(5-8), 702-714.

TM

248

International Journal of Commerce and Strategy

Qualls, D., 1974. Stability and Persistence of Economic

Profit Margins in Highly Concentrated Industries,
Southern Economic Journal , 40(4), 604-612.
Ramaswamy, V., Gatignon, H. and Reibstein, D.
J., 1994. Competitive Marketing Behavior in
Industrial Markets, Journal of Marketing , 58(2),
45-55.
Raymond, L. and Bergeron, F., 2008. Enabling the
Business Strategy of SMEs through e-Business
Capabilities: A Strategic Alignment Perspective,
Industrial Management & Data Systems , 108(5),
577-595.
Roos, J., Roos, G., Dragonetti, N. C. and Edvinsson, L.,
1997. Intellectual Capital: Navigating in the New
Business Landscape , London: Macmillan Press.
Rumelhart, D. E., Hinton, G. E. and Williams, R. J.,
1986. Learning Internal Representations by Error
Propagation, in Rumelhart, D. E. (Ed.), Parallel
Distributed Processing , 1, Cambridge, MA: MIT
Press, 318-362.
Rumelt, R., 1982. Diversification Strategy and
Profitability, Strategic Management Journal , 3(4),
359-369.
Schendel, D. E. and Hofer, C. W., 1979. Strategic
Management: A New View of Business Policy and
Planning , Boston, MA: Little, Brown.
Scherer, F. M., 1980. Industrial Market Structure
and Economic Performance , Chicago, IL: Rand
McNally.
Scherer, F. M. and Ross, D., 1990. Industrial Market
Structure and Economic Performance , New York,
NY: Houghton-Mifflin.
Schoonhoven, C. B., 1981. Problems with Contingency
Theory: Testing Assumptions Hidden within the
Language of Contingency Theory, Administrative
Science Quarterly , 26(3), 349-377.
Schwartz, H. and Davis, S. M., 1981. Matching
C o r p o r a t e C u l t u r e a n d B u s i n e s s S t r a t e g y,
Organizational Dynamics , 10(1), 30-48.
Seyedhoseini, S. M., Jassbi, J. and Pilevari, N., 2010.
Application of Adaptive Neuro Fuzzy Inference
System in Measurement of Supply Chain Agility:
Real Case Study of a Manufacturing Company,
African Journal of Business Management , 4(1), 8396.
Sheu, J. B., 2008. A Hybrid Neuro-fuzzy Analytical
Approach to Mode Choice of Global Logistics
Management, European Journal of Operational
Research , 189(3), 971-986.

December

Siggelkow, N., 2001. Change in the Presence of Fit:

The Rise, the Fall and the Renaissance of Liz
Claiborne, Academy of Management Journal , 44(4),
838-857.
Spanos, Y. E. and Lioukas, S., 2001. An Examination
into the Causal Logic of Rent Generation:
Contrasting Porter's Competitive Strategy
Framework and the Resource-based Perspective,
Strategic Management Journal , 22(10), 907-934.
Spanos, Y. E., Zaralis, G. and Lioukas, S., 2004.
Strategy and Industry Effect on Profitability:
Evidence from Greece, Strategic Management
Journal , 25(4), 139-165.
Sreekantha, D. K. and Kulkarni, R. V., 2012. Expert
System Design for Credit Risk Evaluation Using
Neuro-fuzzy Logic, Expert Systems , 29(1), 56-69.
Stewart, T. A., 1997. Intellectual Capital: The New
Wealth of Organizations , New York, NY: Bantam
Doubleday Dell Publishing Group, Inc.
Stoeva, S. P., 1992. A Weight-learning Algorithm
for Fuzzy Production Systems with Weighting
Coefficients, Fuzzy Sets and Systems , 48(1), 87-97.
Sun, S. Y., Hsu, M. H. and Hwang, W. J., 2009. The
Impact of Alignment between Supply Chain
Strategy and Environmental Uncertainty on SCM
Performance, Supply Chain Management: An
International Journal , 14(3), 201-212.
Szymanski, D. M., Bharadwaj, S. G. and Varadarajan,
P. R., 1993. An Analysis of the Market Shareprofitability Relationship, Journal of Marketing ,
57(3), 1-18.
Tan, J. and Litschert, R., 1994. Environment-strategy
Relationships and Its Performance Implications:
An Empirical Study of the Chinese Electronics
Industry, Strategic Management Journal , 15(1),
1-20.
Teece, D. J., Pisano, G. and Shuen, A., 1997. Dynamic
Capabilities and Strategic Management, Strategic
Management Journal , 18(7), 509-533.
Vahdani, B., Iranmanesh, S. H., Mousavi, S. M. and
Abdollahzade, M., 2012. A Locally Linear Neurofuzzy Model for Supplier Selection in Cosmetics
Industry, Applied Mathematical Modeling , 36(10),
4714-4727.
Vellido, A., Lisboa, P. J. G. and Vaughan, J., 1999.
Neural Networks in Business: A Survey of
Applications (1992-1998), Expert Systems with
Applications , 17(1), 51-70.
Ve n k a t r a m a n , N . , 1 9 8 9 . T h e C o n c e p t o f F i t i n
Strategy Research: Toward Verbal and Statistical

2013

C.-S. Lin and R.-Y. Chang

Correspondence, Academy of Management Review ,

14(3), 423-444.

249

Marketing Management , 42(2), 260-272.

Venkatraman, N. and Camillus, J. C., 1984. Exploring

the Concept of "Fit" in Strategic Management,
Academy of Management Review , 9(3), 513-525.

Zajac, E. J., Kraatz, M. S. and Bresser, R. K. F.,

2000. Modeling the Dynamics of Strategic Fit: A
Normative Approach to Strategic Change, Strategic
Management Journal , 21(4), 429-453.

Venkatraman, N. and Prescott, J., 1990. Environmentstrategy Coalignment: An Empirical Test of Its
Performance Implications, Strategic Management
Journal , 11(1), 1-23.

Zajac, E. J. and Shortell, S. M., 1989. Changing

Generic Strategies: Likelihood, Direction and
Performance Implications, Strategic Management
Journal , 10(5), 413-430.

Ve n k a t r a m a n , N . a n d R a m a n u j a m , V. , 1 9 8 6 .
Measurement of Business Performance in Strategy
Research: A Comparison of Approaches, Academy
of Management Review , 11(4), 801-814.

Zimmermann, H. J., 1987. Fuzzy Sets, Decision Making

and Expert Systems , Boston, MA: Kluver Academic
Publisher.

Von Altrock, C., 1997. Fuzzy Logic & Neuro Fuzzy

Applications in Business & Finance , Upper Saddle
River, NJ: Prentice Hall PTR.
Vo r h i e s , D . W. a n d M o r g a n , N . A . , 2 0 0 3 . A
Configuration Theory Assessment of Marketing
Organization Fit with Business Strategy and Its
Relationship with Marketing Performance, Journal
of Marketing , 67(1), 100-115.
Vorhies, D. W. and Morgan, N. A., 2005. Benchmarking
Marketing Capabilities for Sustainable
Competitive Advantage, Journal of Marketing ,
69(1), 80-94.
Wei, H. and Dai, Z. L., 2011. A New Algorithm for
the Acquisition of Knowledge from Scientific
Literature in Specific Fields Based on Natural
Language Comprehension, International Journal of
Intelligence Science , 1(2), 35-45.
Wernerfelt, B., 1984. A Resource-based View of the
Firm, Strategic Management Journal , 5(2), 171180.
Xu, S., Cavusgil, S. T. and White, J. C., 2006. The
Impact of Strategic Fit among Strategy, Structure
and Processes on Multinational Corporation
Performance: A Multimethod Assessment, Journal
of International Marketing , 14(2), 1-31.
Yarbrough, L., Morgan, N. A. and Vorhies, D. W.,
2011. The Impact of Product Market Strategyorganizational Culture Fit on Business
Performance, Journal of the Academy of Marketing
Science , 39(4), 555-573.
Zadeh, L. A., 1965. Fuzzy Sets, Information and
Control , 8(3), 338-353.
Zaefarian, G., Henneberg, S. C. and Naud, P., 2013.
Assessing the Strategic Fit between Business
Strategies and Business Relationships in
Knowledge-intensive Business Services, Industrial

250

International Journal of Commerce and Strategy

December

(TSSCI) (TSSCI) (TSSCI)Journal of

International Money and Finance (SSCI)Expert Systems with Applications (SCI)Industrial Management and
Data Systems (SCI)International Journal of ManagementHealth Care Management Review (SSCI)Networks
(SCI)
Chin-Shien Lin is a Professor in the Department of Business Administration, National Chung Hsing University.
He received his Doctoral degree from the Washington State University. His main research areas include Strategic
Fit, Corporate Social Responsibility and Financial Crisis Prediction. His research papers have been published
at Journal of Management (TSSCI), Journal of Management and System (TSSCI), Accounting Review (TSSCI),
Journal of International Money and Finance (SSCI), Expert Systems with Applications (SCI), Industrial
Management and Data Systems (SCI), International Journal of Management, Health Care Management Review
(SSCI), Networks (SCI) and others.

(TSSCI) (TSSCI)Journal of International Money

and Finance (SSCI)
Ruei-Yuan Chang is an Adjunct Assistant Professor in the Department of Hospitality Management of Ming Dao
University, the Department of Computer Science and Information Management of Hungkuang University, the
Department of Finance of Providence University and the Department of Accounting of Feng Chia University.
He received his Doctoral degree from the National Chung Hsing University. His main research areas include
Strategic Fit, Corporate Social Responsibility, Business Ethics and Occupational Health Psychology. His
research papers have been published at Journal of Management and System (TSSCI), Journal of Human
Resource Management (TSSCI), Fu Jen Management Review, Journal of Accounting and Corporate Governance,
Journal of International Money and Finance (SSCI) and others.