近年來，快速變化、市場動蕩莫測的商業環境，在日益激烈的競爭與有限的資源下，促使企業的市場策略轉向協作。這一商業環境趨勢，伴隨著新興組織結構的出現，為企業間的協作提供了有利的環境，而創新生態系統就此產生，成為現代商業企業間常見的合作模式之一。本研究針對 MIH 電動車開放平台，搜集其中共 338 筆台灣企業 MIH 會員樣本，進一步探討 MIH 創新生態系統中的正當性累積分別與企業間「相似性程度」與「加入時間階段」之間的相互影響以及關係。
本研究採用「事件研究法」(Event Study) 以探討 MIH 創新生態系統之正當性累積與企業所從中獲取的正當性之關係，透過實證研究我們可以發現(一)當一間新加入創新生態系統之企業，與生態系統中核心企業的行業類別相似性程度越高，其所獲得之異常報酬越高，所獲取之正當性亦越高; (二)當一間新加入創新生態系統之企業，加入之時間階段於生態系統越後期，其所獲得之異常報酬越高，所獲取之正當性亦越高。最後，本研究提出將「異常報酬」(CAR)作為正當性代理變數之新見解。

In recent years, the rapidly changing and unpredictable business environment, coupled with intense competition and limited resources, has driven enterprises to shift marketing strategies to collaboration. The business environment trend, accompanied by the emergence of new organizational structures, provides a favorable environment for collaboration among enterprises, and the innovation ecosystem has thus emerged, becoming one of the common modes of cooperation among modern commercial enterprises. The study collects 338 samples of MIH members from Taiwanese enterprises, focusing on the open platform for electric vehicles. In addition, it examines the relationship between the accumulation of legitimacy in the MIH innovation ecosystem and the "similarity" degree and the "joining stage" of enterprises.
In order to explore the legitimacy of MIH's innovation ecosystem, this study utilized the "Event Study" method. Based on empirical research, we can conclude: (1) When a company joins the innovation ecosystem, and its industry category is similar to the core company's industry category. It is associated with higher abnormal rewards as the degree of similarity increases. The higher the abnormal rewards it has, the greater legitimacy it gains from the ecosystem. (2) When a company joins the innovation ecosystem, the later stage it enters into the ecosystem, the higher the abnormal rewards it obtains, and the higher the legitimacy it gains. The study also offers a new insight of "Abnormal Returns" as a proxy for legitimacy, by examining the "Cumulative Abnormal Returns" variables.

沈中華, & 李建然. (2000). 事件研究法: 財務與會計實證研究必備: 華泰文化.
周賓凰, & 蔡坤芳. (1997). 臺灣股市日資料特性與事件研究法.
Adner, R. (2006). Match your innovation strategy to your innovation ecosystem. Harvard Business Review, 84(4), 98.
Adner, R. (2017). Ecosystem as structure: An actionable construct for strategy. Journal of Management, 43(1), 39-58.
Adner, R., & Kapoor, R. (2010). Value creation in innovation ecosystems: How the structure of technological interdependence affects firm performance in new technology generations. Strategic Management Journal, 31(3), 306-333.
Adner, R., & Kapoor, R. (2016). Innovation ecosystems and the pace of substitution: Re‐examining technology S‐curves. Strategic Management Journal, 37(4), 625-648.
Ahrne, G., & Brunsson, N. (2005). Organizations and meta-organizations. Scandinavian Journal of Management, 21(4), 429-449.
Albert, S., Whetten, D. A., Cummings, L., & Staw, B. (1985). Organizational identity.
Aldrich, H. E., & Fiol, C. M. (1994). Fools rush in? The institutional context of industry creation. Academy of Management Review, 19(4), 645-670.
Autio, E., & Thomas, L. D. (2020). Value co-creation in ecosystems: Insights and research promise from three disciplinary perspectives. In Handbook of Digital Innovation (pp. 107-132): Edward Elgar Publishing.
Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.
Baum, J. A., & Oliver, C. (1991). Institutional linkages and organizational mortality. Administrative Science Quarterly, 187-218.
Bollerslev, T., Chou, R. Y., & Kroner, K. F. (1992). ARCH modeling in finance: A review of the theory and empirical evidence. Journal of Econometrics, 52(1-2), 5-59.
Das, T. K., & Teng, B. S. (2000). A resource-based theory of strategic alliances. Journal of Management, 26(1), 31-61.
Dattée, B., Alexy, O., & Autio, E. (2018). Maneuvering in poor visibility: How firms play the ecosystem game when uncertainty is high. Academy of Management Journal, 61(2), 466-498.
de Vasconcelos Gomes, L. A., Facin, A. L. F., Salerno, M. S., & Ikenami, R. K. (2018). Unpacking the innovation ecosystem construct: Evolution, gaps and trends. Technological Forecasting and Social Change, 136, 30-48.
Deephouse, D. L. (1996). Does isomorphism legitimate? Academy of Management Journal, 39(4), 1024-1039.
Deephouse, D. L. (1999). To be different, or to be the same? It’sa question (and theory) of strategic balance. Strategic Management Journal, 20(2), 147-166.
Delmar, F., & Shane, S. (2004). Legitimating first: Organizing activities and the survival of new ventures. Journal of Business Venturing, 19(3), 385-410.
DiMaggio, P. J., & Powell, W. W. (1983). The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 147-160.
Fama, E. F., Fisher, L., Jensen, M. C., & Roll, R. (1969). The adjustment of stock prices to new information. International Economic Review, 10(1), 1-21.
Fligstein, N. (1997). Social skill and institutional theory. American Behavioral Scientist, 40(4), 397-405.
Freeman, J., Carroll, G. R., & Hannan, M. T. (1983). The liability of newness: Age dependence in organizational death rates. American Sociological Review, 692-710.
Ganco, M., Kapoor, R., & Lee, G. K. (2020). From rugged landscapes to rugged ecosystems: Structure of interdependencies and firms’ innovative search. Academy of Management Review, 45(3), 646-674.
Gawer, A. (2014). Bridging differing perspectives on technological platforms: Toward an integrative framework. Research Policy, 43(7), 1239-1249.
Gawer, A., & Phillips, N. (2013). Institutional work as logics shift: The case of Intel’s transformation to platform leader. Organization Studies, 34(8), 1035-1071.
Granstrand, O., & Holgersson, M. (2020). Innovation ecosystems: A conceptual review and a new definition. Technovation, 90, 102098.
Grant, R. M., & Baden‐Fuller, C. (2004). A knowledge accessing theory of strategic alliances. Journal of Management Studies, 41(1), 61-84.
Gulati, R., Puranam, P., & Tushman, M. (2012). Meta‐organization design: Rethinking design in interorganizational and community contexts. Strategic Management Journal, 33(6), 571-586.
Hannah, D. P., & Eisenhardt, K. M. (2018). How firms navigate cooperation and competition in nascent ecosystems. Strategic Management Journal, 39(12), 3163-3192.
Hannan, M. T., & Freeman, J. (1977). The population ecology of organizations. American Journal of Sociology, 82(5), 929-964.
Hannan, M. T., Pólos, L., & Carroll, G. R. (2007). Language matters, from logics of organization theory: Audiences, codes, and ecologies. Introductory Chapters.
Hsu, G., Hannan, M. T., & Koçak, Ö. (2009). Multiple category memberships in markets: An integrative theory and two empirical tests. American Sociological Review, 74(1), 150-169.
Hybels, R. C. (1995). On legitimacy, legitimation, and organizations: A critical review and integrative theoretical model. Paper presented at the Academy of Management Proceedings.
Iansiti, M., & Levien, R. (2004). Strategy as ecology. Harvard Business Review, 82(3), 68-78, 126.
Jacobides, M. G., Cennamo, C., & Gawer, A. (2018). Towards a theory of ecosystems. Strategic Management Journal, 39(8), 2255-2276.
Kapoor, R., & Lee, J. M. (2013). Coordinating and competing in ecosystems: How organizational forms shape new technology investments. Strategic Management Journal, 34(3), 274-296.
Kennedy, M. T. (2008). Getting counted: Markets, media, and reality. American Sociological Review, 73(2), 270-295.
Kennedy, M. T., Lo, J., & Lounsbury, M. (2010). Category currency: The changing value of conformity as a function of ongoing meaning construction. In Categories in markets: Origins and evolution (pp. 369-397): Emerald Group Publishing Limited.
Kogut, B. (1988). Joint ventures: Theoretical and empirical perspectives. Strategic Management Journal, 9(4), 319-332.
Kuipers, B. S., Higgs, M., Kickert, W., Tummers, L., Grandia, J., & Van der Voet, J. (2014). The management of change in public organizations: A literature review. Public Administration, 92(1), 1-20.
Lane, P. J., & Lubatkin, M. (1998). Relative absorptive capacity and interorganizational learning. Strategic Management Journal, 19(5), 461-477.
Li, Y. R. (2009). The technological roadmap of Cisco's business ecosystem. Technovation, 29(5), 379-386.
Lindgren, R., Eriksson, O., & Lyytinen, K. (2015). Managing identity tensions during mobile ecosystem evolution. Journal of Information Technology, 30(3), 229-244.
MacKinlay, A. C. (1997). Event studies in economics and finance. Journal of Economic Literature, 35(1), 13-39.
Mantovani, A., & Ruiz-Aliseda, F. (2016). Equilibrium innovation ecosystems: The dark side of collaborating with complementors. Management Science, 62(2), 534-549.
Martens, M. L., Jennings, J. E., & Jennings, P. D. (2007). Do the stories they tell get them the money they need? The role of entrepreneurial narratives in resource acquisition. Academy of Management Journal, 50(5), 1107-1132.
McIntyre, D. P., & Srinivasan, A. (2017). Networks, platforms, and strategy: Emerging views and next steps. Strategic Management Journal, 38(1), 141-160.
McWilliams, A., & Siegel, D. (1997). Event studies in management research: Theoretical and empirical issues. Academy of Management Journal, 40(3), 626-657.
Meyer, A. D., Gaba, V., & Colwell, K. A. (2005). Organizing far from equilibrium: Nonlinear change in organizational fields. Organization Science, 16(5), 456-473.
Meyer, J. W., & Rowan, B. (1977). Institutionalized organizations: Formal structure as myth and ceremony. American Journal of Sociology, 83(2), 340-363.
Moore, J. (1996). F.(1996). The death of competition: leadership and strategy in the age of business ecosystems. In: New York: Harper Business.
Moore, J. F. (1993). Predators and prey: a new ecology of competition. Harvard Business Review, 71(3), 75-86.
Moore, J. F. (2016). The death of competition: leadership and strategy in the age of business ecosystems: HarperCollins.
Nambisan, S., & Baron, R. A. (2013). Entrepreneurship in innovation ecosystems: Entrepreneurs’ self–regulatory processes and their implications for new venture success. Entrepreneurship theory and practice, 37(5), 1071-1097.
Navis, C., & Glynn, M. A. (2010). How new market categories emerge: Temporal dynamics of legitimacy, identity, and entrepreneurship in satellite radio, 1990–2005. Administrative Science Quarterly, 55(3), 439-471.
Navis, C., & Glynn, M. A. (2011). Legitimate distinctiveness and the entrepreneurial identity: Influence on investor judgments of new venture plausibility. Academy of Management Review, 36(3), 479-499.
Paavola, J. (2003). Environmental justice and governance: theory and lessons from the implementation of the European union's habitats directive (No. 03-05). CSERGE Working Paper EDM.
Paavola, J., & Adger, W. N. (2005). Institutional ecological economics. Ecological Economics, 53(3), 353-368.
Pan, L., Li, X., Chen, J., & Chen, T. (2020). Sounds novel or familiar? Entrepreneurs' framing strategy in the venture capital market. Journal of Business Venturing, 35(2), 105930.
Park, S. H., & Kim, D. (1997). Market valuation of joint ventures: Joint venture characteristics and wealth gains. Journal of Business Venturing, 12(2), 83-108.
Patvardhan, S. D., Gioia, D. A., & Hamilton, A. L. (2015). Weathering a meta-level identity crisis: Forging a coherent collective identity for an emerging field. Academy of Management Journal, 58(2), 405-435.
Peteraf, M., & Shanley, M. (1997). Getting to know you: A theory of strategic group identity. Strategic Management Journal, 18(S1), 165-186.
Pfeffer, J., & Salancik, G. R. (2003). The external control of organizations: A resource dependence perspective: Stanford University Press.
Pierce, L. (2009). Big losses in ecosystem niches: How core firm decisions drive complementary product shakeouts. Strategic management journal, 30(3), 323-347.
Polletta, F., & Jasper, J. M. (2001). Collective identity and social movements. Annual Review of Sociology, 27(1), 283-305.
Porac, J. F., Thomas, H., & Baden‐Fuller, C. (1989). Competitive groups as cognitive communities: The case of Scottish knitwear manufacturers. Journal of Management Studies, 26(4), 397-416.
Porter, M. E. (1980). Competitive strategy free press New York. PorterCompetitive Strategy1980, 324-425.
Porter, M. E. (2011). Competitive advantage of nations: creating and sustaining superior performance: simon and schuster.
Rindova, V., Barry, D., & Ketchen Jr, D. J. (2009). Entrepreneuring as emancipation. Academy of Management Review, 34(3), 477-491.
Rohrbeck, R., Hölzle, K., & Gemünden, H. G. (2009). Opening up for competitive advantage–How Deutsche Telekom creates an open innovation ecosystem. R&d Management, 39(4), 420-430.
Rong, K. (2011). Nurturing business ecosystems from firm perspectives: lifecycle, nurturing process, construct, configuration pattern. University of Cambridge.
Rumelt, R., Schendel, D. E., & Teece, D. J. (1994). Fundamental issues in strategy: A research agenda: Harvard Business School Press. Boston, MA.
Schoemaker, P. J., Heaton, S., & Teece, D. (2018). Innovation, dynamic capabilities, and leadership. California Management Review, 61(1), 15-42.
Scholes, M., & Williams, J. (1977). Estimating betas from nonsynchronous data. Journal of Financial Economics, 5(3), 309-327.
Scott, W. R. (1995). Institutions and Organizations. Thousands Oaks. Cal: Sage Publications.
Scott, W. R. (2008). Institutions and organizations: Ideas and interests: Sage.
Sharfman, M. P., Wolf, G., Chase, R. B., & Tansik, D. A. (1988). Antecedents of organizational slack. Academy of Management Review, 13(4), 601-614.
Shipilov, A., & Gawer, A. (2020). Integrating research on interorganizational networks and ecosystems. Academy of Management Annals, 14(1), 92-121.
Sine, W. D., David, R. J., & Mitsuhashi, H. (2007). From plan to plant: Effects of certification on operational start-up in the emergent independent power sector. Organization Science, 18(4), 578-594.
Singh, J. V. (1990). Organizational evolution: New directions.
Singh, J. V., Tucker, D. J., & House, R. J. (1986). Organizational legitimacy and the liability of newness. Administrative Science Quarterly, 171-193.
Sorescu, A., Warren, N. L., & Ertekin, L. (2017). Event study methodology in the marketing literature: an overview. Journal of the Academy of Marketing Science, 45, 186-207.
Spender, J. C. (1989). Industry recipes: Basil Blackwell Oxford.
Starr, J. A., & MacMillan, I. C. (1990). Resource cooptation via social contracting: Resource acquisition strategies for new ventures. Strategic Management Journal, 79-92.
Stinchcombe, A. L. (1965). Social Structure andOrganizations. MarchJG. HandbookofOrganiG zations.
Suarez, M. V., & García-Canal, E. (2003). Complementarity and leverage as drivers of the stock market reaction to global alliance formation. Long Range Planning, 36(6), 565-578.
Suchman, M. C. (1995). Managing legitimacy: Strategic and institutional approaches. Academy of Management Review, 20(3), 571-610.
Teece, D. J. (1986). Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy. Research Policy, 15(6), 285-305.
Teece, D. J. (2007). Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319-1350.
Thomas, L. D., & Ritala, P. (2022). Ecosystem legitimacy emergence: A collective action view. Journal of Management, 48(3), 515-541.
Tripsas, M. (2009). Technology, identity, and inertia through the lens of “The Digital Photography Company”. Organization Science, 20(2), 441-460.
Valkokari, K. (2015). Business, innovation, and knowledge ecosystems: How they differ and how to survive and thrive within them. Technology Innovation Management Review, 5(8).
Van de Ven, A. H., & Garud, R. (1987). A framework for understanding the emergence of new industries: Strategic Management Research Center, University of Minnesota.
Wang, P. (2019). Theorizing digital innovation ecosystems: a multilevel ecological framework.
Wareham, J., Fox, P. B., & Cano Giner, J. L. (2014). Technology ecosystem governance. Organization Science, 25(4), 1195-1215.
Yang, T., & Aldrich, H. E. (2017). “The liability of newness” revisited: Theoretical restatement and empirical testing in emergent organizations. Social Science Research, 63, 36-53.
Zang, S., Wang, H., & Zhou, J. (2022). Impact of eco-embeddedness and strategic flexibility on innovation performance of non-core firms: The perspective of ecological legitimacy. Journal of Innovation & Knowledge, 7(4), 100266.
Zhang, J., & Liang, X.-J. (2011). Business ecosystem strategies of mobile network operators in the 3G era: The case of China Mobile. Telecommunications Policy, 35(2), 156-171.
Zhang, W., & White, S. (2016). Overcoming the liability of newness: Entrepreneurial action and the emergence of China's private solar photovoltaic firms. Research Policy, 45(3), 604-617.
Zimmerman, M. A., & Zeitz, G. J. (2002). Beyond survival: Achieving new venture growth by building legitimacy. Academy of Management Review, 27(3), 414-431.
Zott, C., & Huy, Q. N. (2007). How entrepreneurs use symbolic management to acquire resources. Administrative Science Quarterly, 52(1), 70-105.
Zuckerman, E. W. (1999). The categorical imperative: Securities analysts and the illegitimacy discount. American Journal of Sociology, 104(5), 1398-1438.