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系統識別號 U0026-1407201715175100
論文名稱(中文) 經營環境攸關因素對於企業國際化進入模式選擇之影響─以美國企業為例
論文名稱(英文) How environment related factors affect entry mode selection for US-based companies
校院名稱 成功大學
系所名稱(中) 國際企業研究所
系所名稱(英) Institute of International Business
學年度 105
學期 2
出版年 106
研究生(中文) 何崇一
研究生(英文) Chung-Yi Ho
學號 R66041166
學位類別 碩士
語文別 英文
論文頁數 57頁
口試委員 指導教授-張紹基
口試委員-陳麗宇
口試委員-林玟君
口試委員-張瑞琪
中文關鍵字 進入模式選擇  股市  匯率  國際化  策略聯盟  併購 
英文關鍵字 entry mode selection  stock market  exchange rate  internationalization  strategic alliance  M&A 
學科別分類
中文摘要 本研究為一個在美國企業欲擴張其國內業務至海外時,綜合考慮無股權策略聯盟、合資與併購三種進入模式類型,將受到那些環境攸關因素的影響之探索性研究。經擷取美國大型企業從1996年至2015年的此三種交易資料進行實證後,本研究發現美國企業是否採用投資進入模式,受海外市場的名目國民所得以及股市市值成長率之正向顯著影響。另外,若美國股市市值與美元幣值上漲,美國企業更會傾向選擇以外國直接投資(FDI)進入海外市場,其中,投資的方式,相較於跨國併購,美國企業更偏好採取跨國合資。
英文摘要 The study is to investigate the effects of environmental related factors on entry mode choice of US-based companies in overseas expansion, including non-equity alliances, joint ventures and mergers and acquisitions. The study uses a sample of public companies in United States from 1996 to 2015. The evidence suggests US firms are more likely to select entry modes with investment when the nominal GDP growth rate and stock market development in foreign markets are higher. In addition, US companies incline to choose foreign indirect investment to enter overseas markets when the stock market development in United States or currency value of Dollar improve. However, in equity investments, US companies prefer to choose international joint venture rather than take cross border acquisition.
論文目次 CHAPTER 1 INTRODUCTION 1
CHAPTER 2 LITERATURE REVIEW AND HYPOTHESIS 4
2.1 LITERATURES IN STRATEGIC ALLIANCE 4
2.2 LITERATURES IN INTERNATIONAL M&A 8
2.3 SUMMARY FROM THESE LITERATURES 13
2.4 HYPOTHESES DEVELOPMENT 14
CHAPTER 3 METHODOLOGY 18
3.1 SAMPLE 18
3.2 THE DEFINITION AND MEASUREMENT OF VARIABLES. 21
3.3 METHODOLOGY 24
CHPATER 4 EMPIRICAL RESULTS 29
4.1 SAMPLE DESCRIPTION 29
4.2 EMPIRICAL RESULTS 33
CHAPTER 5 CONLUSION 49
5.1. CONCLUSION 49
5.2. MANAGERIAL IMPLICATIONS 52
REFERENCE 54

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