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題名 個案研究:噹噹網
Case study: Dangdang
作者 郭品緒
Kuo, Pin Hsu
貢獻者 周行一
郭品緒
Kuo, Pin Hsu
關鍵詞 網路公司
中國
Internet
dot-com
China
日期 2011
上傳時間 12-Apr-2012 13:58:42 (UTC+8)
摘要 中國網路市場近兩年的火紅讓許多人注意到中國的快速成長,噹噹網作為此次的研究對象,用來深入探討整個中國網路市場的生態與環境。
     此篇論文探討中國網路公司噹噹網,如何在商業模式與亞馬遜相同,並且只擁有中國市場之下,仍然可以得到投資人很好的投資評價。中國的特殊環境造就了本土公司可以打敗全球跨國公司的現象。
     最後此論文提到一些對投資中國網路股的建議,希望從噹噹網近一年的表現給予投資人一些投資啟示
This article discusses Dangdang, the Chinese Amazon.com to demonstrate the characters of Chinese internet industry. I found out that Chinese internet industry is prospering due to the overall economy growth and improved internet penetration.
     
     Albeit Dangdang has a very similar business model with Amazon, the complicated Chinese market leads Dangdang to beat Joyo/Amazon.cn in online book sales in China. In the general merchandise Dangdang wants to aim for is a huge challenge and may lead the future instability to Dangdang.
     
     The stock price correction of Dangdang and other Chinese internet companies give investors some warnings that the sustainable and profitable business model should be more important than anything. It should be very careful to invest in Chinese internet stock even the growth rate is appealing.
參考文獻 Chinese Literature
CNNIC (中國互聯網絡信息中心) "中國互聯網絡信息中心CNNIC 網路權威報告" 2011
CNNIC (中國互聯網絡信息中心) "互联网发展信息与动态" May 2011
Digitimes
中國電子商務研究中心"2011年(上)中國電子商務市場數據 監測報告", 1 Aug 2011
iResearch (艾瑞諮詢集團) "中國互聯網行業發展前景與投資價值報告" 2011
iResearch (艾瑞諮詢集團) "中國網路購物行業年度監測報告" 2011
吳麗,和陽 "中國互聯網:鮮花與磚頭齊飛 創新共資本一色" 商務周刊 Jan 2011(http://tech.hexun.com.tw/2011-01-31/127136877.html)
English literature:
Braddock, "The Internet: The Novel." Financial Analysts Journal 57.5 (2001): 17-19
BBC news, "China: 1.3 million websites shut in 2010" BBC news 13 July 2011 (http://www.bbc.co.uk/news/world-asia-pacific-14138267)
Bayer, "The New Tech Bubble; Silicon Valley and the Technology Industry" The Economist (US) 14 May 2011.
Dangdang, E-COMMERCE CHINA DANGDANG INC. 20-F (2010)
Hirschey, J. Richardson and Scholz, "How “Foolish” Are Internet Investors?" Financial Analysts Journal 56.1 (2000): 62-69.
Johnson, Christensen and Kagermann, "Reinventing Your Business Model." Harvard Business Review Dec 2008.
Ljungqvist and Wilhelm, "IPO Pricing in the Dot-com Bubble" The Journal of Finance 58.2 (2003): 723-52.
Morgan Stanly Research, "Creating Consumer Value in Digital China" Morgan Stanly Research 12 Sep 2005
Morgan Stanley Research, "Dangdang Inc.: A Front Runner in China’s E-Commerce Market" Morgan Stanley Research 28 Feb 2011
Malkiel, "A Random Walk down Wall Street: the Time-tested Strategy for Successful Investing." New York: W.W. Norton &, 2011. 80-97.
Ofek and Richardson, "DotCom Mania: The Rise and Fall of Internet Stock Prices" The Journal of Finance 58.3 (2003): 1113-138.
Pastor and Veronesi, "Was There a Nasdaq Bubble in the Late 1990s?" Journal of Financial Economics 81.1 (2006): 61-100.
Schultz and Zaman, "Do the Individuals Closest to Internet Firms Believe They Are Overvalued?" Journal of Financial Economics 59 (2001): 347-381.
Tokic, "Chinese Dot-coms: A Better Investment?" Journal of Corporate Accounting & Finance 16.5 (2005): 9-12.
The economist, "Welcome to IPOville; Internet Companies." The Economist (US) 11 June 2011.
Vlastelica and Bases, "Special report: Chinese stock scams are the latest U.S. import" Reuturs May 11 2011 (http://www.reuters.com/article/2011/05/11/us-china-shortsellers-idUSTRE74A71F20110511)
描述 碩士
國立政治大學
財務管理研究所
98357015
100
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0098357015
資料類型 thesis
dc.contributor.advisor 周行一zh_TW
dc.contributor.author (Authors) 郭品緒zh_TW
dc.contributor.author (Authors) Kuo, Pin Hsuen_US
dc.creator (作者) 郭品緒zh_TW
dc.creator (作者) Kuo, Pin Hsuen_US
dc.date (日期) 2011en_US
dc.date.accessioned 12-Apr-2012 13:58:42 (UTC+8)-
dc.date.available 12-Apr-2012 13:58:42 (UTC+8)-
dc.date.issued (上傳時間) 12-Apr-2012 13:58:42 (UTC+8)-
dc.identifier (Other Identifiers) G0098357015en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/52533-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 財務管理研究所zh_TW
dc.description (描述) 98357015zh_TW
dc.description (描述) 100zh_TW
dc.description.abstract (摘要) 中國網路市場近兩年的火紅讓許多人注意到中國的快速成長,噹噹網作為此次的研究對象,用來深入探討整個中國網路市場的生態與環境。
     此篇論文探討中國網路公司噹噹網,如何在商業模式與亞馬遜相同,並且只擁有中國市場之下,仍然可以得到投資人很好的投資評價。中國的特殊環境造就了本土公司可以打敗全球跨國公司的現象。
     最後此論文提到一些對投資中國網路股的建議,希望從噹噹網近一年的表現給予投資人一些投資啟示
zh_TW
dc.description.abstract (摘要) This article discusses Dangdang, the Chinese Amazon.com to demonstrate the characters of Chinese internet industry. I found out that Chinese internet industry is prospering due to the overall economy growth and improved internet penetration.
     
     Albeit Dangdang has a very similar business model with Amazon, the complicated Chinese market leads Dangdang to beat Joyo/Amazon.cn in online book sales in China. In the general merchandise Dangdang wants to aim for is a huge challenge and may lead the future instability to Dangdang.
     
     The stock price correction of Dangdang and other Chinese internet companies give investors some warnings that the sustainable and profitable business model should be more important than anything. It should be very careful to invest in Chinese internet stock even the growth rate is appealing.
en_US
dc.description.tableofcontents Introduction
     Chapter 1 Internet Trend
     1.1 Internet company trend in the world
     1.2 Internet trend in Chinese market
     Chapter 2 Dangdang as an example to illustrate the Chinese internet market
     2.1 E-commerce in Chinese market
     2.2 Dangdang business analysis
     2.2.1 Five forces competition analysis of Dangdang
     2.3 Innovation for business model- Approaching eBook and GM
     Chapter 3 Joyo/Amazon vs. Dangdang
     3.1 The key comparison
     3.1.1 Different style’s front page
     3.1.2 Market share
     3.1.3 Service and fee
     3.2 Valuation between Dangdang and Amazon (whole company)
     3.2.1 Comparable valuation
     3.2.2 DCF valuation and investment implication
     3.3 Why foreign companies were always struggling in Chinese internet market?
     Chapter 4 Conclusion& suggestion
     4.1 Recent performance of Chinese internet companies
     4.2 Conclusion & suggestion
     Appendix
     Reference
zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0098357015en_US
dc.subject (關鍵詞) 網路公司zh_TW
dc.subject (關鍵詞) 中國zh_TW
dc.subject (關鍵詞) Interneten_US
dc.subject (關鍵詞) dot-comen_US
dc.subject (關鍵詞) Chinaen_US
dc.title (題名) 個案研究:噹噹網zh_TW
dc.title (題名) Case study: Dangdangen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) Chinese Literaturezh_TW
dc.relation.reference (參考文獻) CNNIC (中國互聯網絡信息中心) "中國互聯網絡信息中心CNNIC 網路權威報告" 2011zh_TW
dc.relation.reference (參考文獻) CNNIC (中國互聯網絡信息中心) "互联网发展信息与动态" May 2011zh_TW
dc.relation.reference (參考文獻) Digitimeszh_TW
dc.relation.reference (參考文獻) 中國電子商務研究中心"2011年(上)中國電子商務市場數據 監測報告", 1 Aug 2011zh_TW
dc.relation.reference (參考文獻) iResearch (艾瑞諮詢集團) "中國互聯網行業發展前景與投資價值報告" 2011zh_TW
dc.relation.reference (參考文獻) iResearch (艾瑞諮詢集團) "中國網路購物行業年度監測報告" 2011zh_TW
dc.relation.reference (參考文獻) 吳麗,和陽 "中國互聯網:鮮花與磚頭齊飛 創新共資本一色" 商務周刊 Jan 2011(http://tech.hexun.com.tw/2011-01-31/127136877.html)zh_TW
dc.relation.reference (參考文獻) English literature:zh_TW
dc.relation.reference (參考文獻) Braddock, "The Internet: The Novel." Financial Analysts Journal 57.5 (2001): 17-19zh_TW
dc.relation.reference (參考文獻) BBC news, "China: 1.3 million websites shut in 2010" BBC news 13 July 2011 (http://www.bbc.co.uk/news/world-asia-pacific-14138267)zh_TW
dc.relation.reference (參考文獻) Bayer, "The New Tech Bubble; Silicon Valley and the Technology Industry" The Economist (US) 14 May 2011.zh_TW
dc.relation.reference (參考文獻) Dangdang, E-COMMERCE CHINA DANGDANG INC. 20-F (2010)zh_TW
dc.relation.reference (參考文獻) Hirschey, J. Richardson and Scholz, "How “Foolish” Are Internet Investors?" Financial Analysts Journal 56.1 (2000): 62-69.zh_TW
dc.relation.reference (參考文獻) Johnson, Christensen and Kagermann, "Reinventing Your Business Model." Harvard Business Review Dec 2008.zh_TW
dc.relation.reference (參考文獻) Ljungqvist and Wilhelm, "IPO Pricing in the Dot-com Bubble" The Journal of Finance 58.2 (2003): 723-52.zh_TW
dc.relation.reference (參考文獻) Morgan Stanly Research, "Creating Consumer Value in Digital China" Morgan Stanly Research 12 Sep 2005zh_TW
dc.relation.reference (參考文獻) Morgan Stanley Research, "Dangdang Inc.: A Front Runner in China’s E-Commerce Market" Morgan Stanley Research 28 Feb 2011zh_TW
dc.relation.reference (參考文獻) Malkiel, "A Random Walk down Wall Street: the Time-tested Strategy for Successful Investing." New York: W.W. Norton &, 2011. 80-97.zh_TW
dc.relation.reference (參考文獻) Ofek and Richardson, "DotCom Mania: The Rise and Fall of Internet Stock Prices" The Journal of Finance 58.3 (2003): 1113-138.zh_TW
dc.relation.reference (參考文獻) Pastor and Veronesi, "Was There a Nasdaq Bubble in the Late 1990s?" Journal of Financial Economics 81.1 (2006): 61-100.zh_TW
dc.relation.reference (參考文獻) Schultz and Zaman, "Do the Individuals Closest to Internet Firms Believe They Are Overvalued?" Journal of Financial Economics 59 (2001): 347-381.zh_TW
dc.relation.reference (參考文獻) Tokic, "Chinese Dot-coms: A Better Investment?" Journal of Corporate Accounting & Finance 16.5 (2005): 9-12.zh_TW
dc.relation.reference (參考文獻) The economist, "Welcome to IPOville; Internet Companies." The Economist (US) 11 June 2011.zh_TW
dc.relation.reference (參考文獻) Vlastelica and Bases, "Special report: Chinese stock scams are the latest U.S. import" Reuturs May 11 2011 (http://www.reuters.com/article/2011/05/11/us-china-shortsellers-idUSTRE74A71F20110511)zh_TW