隨著網際網路的盛行，愈來愈多的公司在固有的實體通路環境下增加以網路為基礎的電子通路。在複合通路的環境下，我們需要更適當的指標來衡量通路管理是否具有生產力以及探討附加電子通路是否可以增加公司的財務績效。本研究利用Strategic Profit Model (SPM)來確認附加電子通路績效評估之架構，再藉由模糊層級分析法(Fuzzy Analytic Hierarchy Process) 計算各項評估指標的重要性程度，並找出各項指標之客觀權重值。除此之外，本研究採用異常報酬率、經濟附加價值、市場附加價值三個財務指標來評估附加電子通路對企業的衝擊。研究結果顯示，企業在增加以網路為基礎的電子通路之後，獲利能力(profitability)是最重要的構面；而在十三個評估指標當中，純益率(net profit margin ratio)則是企業最優先考量的評估準則，同時附加電子通路也有助於提升公司的財務績效。 The emergence of the Internet has forced firms to add eChannels to their existing channel system. In the context of multiple channels, there has been a call for better measures of performance to assess whether channel management was productive and whether eChannel additions could enhance the financial performance of the firm. Unfortunately, there has been little research aiming at exploring these two issues. In this thesis, an attempt was made to fill in this literature gap by applying the fuzzy Analytic Hierarchy Process (fuzzy AHP) to measure and compare the performance of eChannel additions on the basis of multi-attribute financial performance criteria. Furthermore, three financial measure perspectives, i.e., Event Study methodology, Economic Value Added (EVA) measure and Market Value Added (MVA) measure, were employed to assess the impact of eChannel additions on the financial performance of the firm. The finding revealed that the most important dimension was profitability while the most critical criteria was net profit margin ratio. Another finding was that eChannel addition announcement could increase a firm’s accumulative abnormal returns, EVA value and MVA value. In conclusion, this research has provided insights into the benefits of eChannel additions for firms.
