We analyze the international output
patterns with Taiwan’s energy service companies (ESCOs) investigated in
2016~2019. Due to the finite demand in Taiwan energy-saving market, half of
Taiwanese ESCOs develop Asia Pacific markets with international trade, alliance
and enterprises group. We derive and confirm some hypotheses about
international developing patterns of Taiwanese ESCOs.
The First is that those firms with more
specific resources will be easier to promote the internationalization of
energy-saving businesses. The specific resources are confirmed as firm capital,
annual ESCO sales, net income ratio, annual growth rate, energy saving rate.
Secondly, if the degree of internationalization of ESCOs is greater, the
overall profitability is also relatively higher. The third, the relationship
between internationalization and profitability of ESCOs displays a non-linear
trend which means when the export ratio is low, the profit from energy service
projects increases; however, when the ratio exceeds the optimal point, about
49.584%~54.323%, it will reveals a reversed phenomenon due to high overseas
JEL classification numbers: F23, F37.
Energy Services Companies, Internationalization,
Output Patterns, Mediational Effect.