The location advantages and persistence of the performance for the Taiwan logistic company: A case study

Figures & data

Table 1. The summary statistics of monthly data

Variable	Obs.	Mean	Std. Dev.	Min	Max
Panel A: Delivery services
Number	49	2,471,196	263,720.8	1,591,363	3,019,789
Package	49	6,685,520	761,918.3	4,363,433	8,609,349
Weight (tons)	49	173,378	18,970	111,479	218,128
Revenue (1,000NT$)	49	444,846	54,386	279,775	560,141
Panel B: Reception services
Number	49	2,445,150	264,757.4	1,588,515	2,892,420
Package	49	6,570,159	764,020.5	4,256,882	8,239,128
Weight (tons)	49	180,524	19,765	116,629	218,868
Revenue (1,000NT$)	49	439,180	52,220	284,250	541,338

Notes: The company’s monthly operating performance can be measured from thee aspects: Number, Package, and Weight of the service business. Number is the monthly total number of packages, Package is the monthly total packages, and Weight is the monthly total weight of packages, in tons. Moreover, Revenue is the monthly income of the company generated by the operating services. Panel A is for the delivery services, panel B is for the reception services, respectively. The data period is from July 2011 to June 2014.

Source: CF Express Co., Ltd.

Figure 1(A). Monthly total weight and total revenue generated by delivery and reception services.

Source: CF Express Co., Ltd.

Figure 1(B). Monthly total number and total package of delivery and reception services.

Source: CF Express Co., Ltd.

Figure 2(A). Average workers and cargos in “Winners” and “Losers,” respectively.

Source: CF Express Co., Ltd.

Figure 2(B). Average value per worker and per cargo in “Winners” and “Losers,” respectively.

Source: CF Express Co., Ltd.

Table 2. The “Winners” of station’s semi-annual performance

Rank	2011 2nd Half-year	2012 1st Half-year	2012 2nd Half-year	2013 1st Half-year	2013 2nd Half-year	2014 1st Half-year
1	Airport Office	Airport Office	Airport Office	Airport Office	Airport Office	Airport Office
2	Zhongli	Dafa	Hualien	Linkou	Hualien	Linkou
3	Dafa	Linkou	Linkou	Dafa	Linkou	Hualien
4	Linkou	Zhongli	Zhongli	Hualien	Dafa	Guanyin
5	Tainan	Tainan	Dafa	Zhongli	Taishan	Taishan
6	Hualien	Gangshan	Gangshan	Gangshan	Tainan	Gangshan
7	Anping	Shulin	Taishan	Tainan	Guanyin	Beigang
8	Lukang	Lukang	Tainan	Taishan	Gangshan	Dafa
9	Taishan	Taishan	Shulin	Beigang	Zhongli	Tainan
10	Qianzhen	Hualien	Qianzhen	Lukang	Shulin	Zhongli
Average (Thousands of NT$)
VPP	158.16	199.92	222.06	208.52	222.08	211.19
VPC	287.84	485.80	459.79	383.14	440.89	461.11
Delivery Revenue	7,332.32	9,195.08	11,094.04	13,092.92	12,177.04	11,683.66
Reception Revenue	7,463.03	8,230.69	10,448.91	11,036.40	10,635,688	11,141.58
Workers	49.7	50.5	52.9	51.6	52.5	51.3
Cargos	31.8	32.5	33.6	32.8	31.6	30.9

Notes: We sort the station’s half-year revenue per worker and per cargo, respectively. Next, collect the top-10 stations to form the “Winner” group.

Source: CF Express Co., Ltd.

Table 3. The “Losers” of station’s semi-annual performance

Rank	2011 2nd Half-year	2012 1st Half-year	2012 2nd Half-year	2013 1st Half-year	2013 2nd Half-year	2014 1st Half-year
1	Songshan	Puli	Songshan	Songshan	Penghu	Puli
2	Xindian	Songshan	Chaozhou	Penghu	Songshan	Penghu
3	Kinmen	Xindian	Taichung	Taichung	Xindian	Sanchong
4	Taichung	Kinmen	Xindian	Xindian	Chaozhou	Songshan
5	Zhonghe	Taichung	Puli	Chaozhou	Taichung	Beitou
6	Keelung	Zhonghe	Kinmen	Puli	Sanchong	Xindian
7	Beitou	Penghu	Tianzhong	Kinmen	Puli	Zhonghe
8	Xinying	Chaozhou	Keelung	Sanchong	Kinmen	Taichung
9	Puli	Keelung	Penghu	Zhonghe	Tianzhong	Chaozhou
10	Sanchong	Sanchong	Zhonghe	Tianzhong	Keelung	Keelung
Average (Thousands of NT$)
VPP	130.46	126.16	139.08	133.85	146.17	134.94
VPC	195.19	187.84	212.91	207.38	228.60	206.00
Delivery Revenue	8,901.81	7,332.32	6,612.83	10,196.76	9,462.26	9,950.76
Reception Revenue	9,285.97	7,463.03	7,286.59	9,771.03	9,344.82	10,892.74
Workers	65.7	61.6	50.6	63.1	62.2	67.7
Cargos	43.3	41.3	33.0	40.6	39.0	44.1

Notes: We sort the station’s half-year revenue per worker and per cargo, respectively. Next, collect the buttom-10 stations to form the “Loser” group.

Source: CF Express Co., Ltd.

Figure 3. Transportation convenience map of Taiwan.

Source: Taiwan Tourism Bureau (2015).

Table 4. Regression results of the monthly revenue per number regressing on the explanatory variables

Variables	Model I	Model II	Model III	Model IV	Model V	Model VI	Model VII
Constant	934.32***	942.86***	886.44***	741.70***	757.78***	962.04***	797.36***
	(30.97)	(29.46)	(31.43)	(30.09)	(30.73)	(28.52)	(28.14)
LnDelRev	−23.8***	−23.8***	−19.5***	−9.83***	−6.57***	−20.08***	−7.84***
	(1.91)	(1.91)	(1.99)	(1.91)	(1.98)	(1.98)	(1.97)
LnRecRev	−24.2***	−24.2***	−25.0***	−27.0***	−26.9***	−33.07***	−34.14***
	(1.07)	(1.07)	(1.06)	(0.99)	(0.99)	(0.97)	(0.90)
VPP (Value per Worker)						0.0006***	0.0004***
						(0.00004)	(0.0000)
VPC (Value per Cargo)						−0.0002***	−0.0001***
						(0.0000)	(0.0000)
Workers	0.40***		−1.20***	−1.44***	−1.17***	−0.16	−0.62***
	(0.05)		(0.24)	(0.22)	(0.23)	(0.22)	(0.20)
Cargos		0.65***	2.34***	2.68***	2.13***	0.84***	1.39***
		(0.70)	(0.35)	(0.32)	(0.33)	(0.31)	(0.29)
Area_id				12.27***			10.62***
				(0.68)			(0.62)
North					−52.6***
					(2.99)
Central					−45.6***
					(3.07)
Adj. R^2	0.32	0.36	0.41	0.40	0.42	0.50	0.56
Obs.	1852	1852	1852	1852	1852	1852	1852

Notes: The regression models are given as follows:$$\begin{array}{c}{\text{Rev\_per\_Number}}_{\mathit{it}}=\alpha +{\beta }_{\mathit{Del}}·LnDel{\text{Rev}}_{\mathit{it}}+{\beta }_{\text{Rec}}·Ln{\text{RecRev}}_{\mathit{it}}+{\delta }_{P}VP{P}_{\mathit{it}}+{\delta }_{\text{C}}·VP{C}_{\mathit{it}}\hfill \\ +{\theta }_C·{\text{Cargos}}_{\mathit{it}}+{\theta }_W·{\text{Workers}}_{\mathit{it}}+{\lambda }_{Dummy,i}^{\prime }·Locatio{n}_{\mathit{it}}+{\epsilon }_{\mathit{it}},\hfill \end{array}$$where, Rev_per_Number is the dependent variable and stands for the station’s monthly revenue per number of package. LnDelRev and LnRecRev are the logarithmic values of fees generated by delivery service and reception service, respectively. Workers and Cargos are the proxy measures of the station’s size. VPP and VPC are the monthly revenue deflated by the station’s size. Area_id is a location variable that ranges from 0 to 7 when the business station locates in north to in east areas of Taiwan. We also categorize the business stations in three groups, North, Central, South, and East. The benchmark is North. The values in the parentheses are the standard error of each estimate.

Source: CF Express Co., Ltd.

*** Stands for the 5% significant level.

Table 5. Regression results of the monthly revenue per package regressing on the explanatory variables

Variables	Model I	Model II	Model III	Model IV	Model V	Model VI	Model VII
Constant	528.5***	514.1***	519.5***	474.2***	462.6***	557.4***	509.5***
	(11.67)	(11.13)	(11.95)	(11.76)	(11.28)	(11.63)	(11.93)
LnDelRev	−20.6***	−19.4***	−19.8***	−16.8***	−14.4***	−22.1***	−18.5***
	(0.72)	(0.68)	(0.76)	(0.75)	(0.74)	(0.81)	(0.83)
LnRecRev	−9.72***	−9.91***	−9.88***	−10.5***	−10.5***	−11.97***	−12.28***
	(0.40)	(0.40)	(0.40)	(0.39)	(0.37)	(0.40)	(0.38)
VPP (Value per Worker)						0.0002***	0.0002****
						(0.0000)	(0.0000)
VPC (Value per Cargo)						−0.00005***	−0.00005***
						(0.0000)	(0.0000)
Workers	0.41***		0.11	0.04	0.24***	0.48***	0.34***
	(0.02)		(0.09)	(0.09)	(0.09)	(0.09)	(0.09)
Cargos		0.60***	0.44***	0.55***	0.16	−0.02***	0.14
		(0.03)	(0.13)	(0.13)	(0.13)	(0.13)	(0.12)
Area_id				3.84***			3.10***
				(0.27)			(0.26)
North					−19.19***
					(1.12)
Central					−21.63***
					(11.28)
Adj. R^2	0.40	0.42	0.49	0.55	0.61	0.53	0.52
Obs.	1852	1852	1852	1852	1852	1852	1852

Notes: The regression models are given as follows:$$\begin{array}{c}{\text{Rev\_per\_Package}}_{\mathit{it}}=\alpha +{\beta }_{\mathit{Del}}·{\text{LnDelRev}}_{\mathit{it}}+{\beta }_{\text{Rec}}·{\text{LnRecRev}}_{\mathit{it}}+{\delta }_P{\text{VPP}}_{\mathit{it}}+{\delta }_{\text{C}}·{\text{VPC}}_{\mathit{it}}\hfill \\ +{\theta }_C·{\text{Cargos}}_{\mathit{it}}+{\theta }_W·{\text{Workers}}_{\mathit{it}}+{\lambda }_{\text{Dummy},i}^{\prime }·{\text{Location}}_{\mathit{it}}+{\epsilon }_{\mathit{it}},\hfill \end{array}$$where, Rev_per_Package is the dependent variable and stands for the station’s monthly revenue per package. LnDelRev and LnRecRev are the logarithmic values of fees generated by delivery service and reception service, respectively. Workers and Cargos are the proxy measures of the station’s size. VPP and VPC are the monthly revenue deflated by the station’s size. Area_id is a location variable that ranges from 0 to 7 when the business station locates in north to in east areas of Taiwan. We also categorize the business stations in three groups, North, Central, South, and East. The benchmark is North. The values in the parentheses are the standard error of each estimate.

Source: CF Express Co., Ltd.

*** Stands for the 5% significant level.