同時,本文也發現以國內生產毛額作為探討景氣循環的變數時,其對廠商聯合行為的影響事實上十分渺小,這顯示廠商在決定彼此之間是否要進行聯合行為之時,當下景氣的好壞並不是一個絕對重要的條件。此外,在低集中度的競爭產業中,本文發現廠商有可能會因為供給面因素而出現聯合行為。 This thesis studies the possibilities of collusion by considering both of the market''s demand and supply side fluctuating.
Most previous literature ignore the effects of supply factors on collusion such as cost increased since the implementation of minimum wage, while the minimun wage may cause a stronger incentive for firms to collude.
With using the firm-level data in manufacturing and service industries in Taiwan,we find that firms collude significantly when the minimum wage is increased, and we also find that business cycle has weaker effects on collusion.
In addition,even if the market concentration is lower, the firms still have stronger opossibility to collude due to the increased minimum wage.