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系統識別號 U0026-1801202023293100
論文名稱(中文) 知識密集型產業併購公司的組織特性對於併購後績效的影響及事前策略聯盟型態的調節作用
論文名稱(英文) The Impact of Acquirers’ Characteristics on Their Post-Acquisition Performance and the Moderating Role of Prior Alliance Types in Knowledge Intensive Industry
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 108
學期 1
出版年 109
研究生(中文) 張詠竣
研究生(英文) Yung-Jiun Chang
學號 R66031111
學位類別 碩士
語文別 中文
論文頁數 71頁
口試委員 指導教授-曾瓊慧
口試委員-張紹基
口試委員-郭亞慧
中文關鍵字 知識密集型產業併購  產業相似性  知識吸收能力  利用型聯盟 
英文關鍵字 knowledge intensive industry  acquisitions  industry similarity  knowledge assimilation ability  exploitation alliances 
學科別分類
中文摘要 知識密集型產業近年來已經日益增多,為尋求在競爭中求生存,尋求外部資源的的併購行為成為許多企業採取的手段,但並不是所有的併購結果都是良好的,事前的策略與選擇成為重要的影響因素。再者,許多企業併購前會以策略聯盟作為併購的橋樑,策略聯盟與併購效益的關係也值得關注。
本研究專注知識密集型產業,研究組織內部特性之於併購效益的關係,本研究也只針對併購前有過策略聯盟經驗的併購事件進行分析,了解事前不同型態的策略聯盟是否調節組織特性與併購效益的關係。
本研究最終篩選出115個樣本並使用迴歸分析,研究結果顯示知識密集型產業中產業相似性與知識吸收能力都一定程度的影響併購的效益,而事前的策略聯盟型態若為利用型聯盟,則增強產業相似性與併購效益的正向關係。
英文摘要 Knowledge intensive industry is increasing vigorously in recent years. In order to survive in serious competition, enterprises need to obtain external resources. Acquisitions have become the measures taken by many companies. However, not all acquisitions lead to good results. Prior strategies and target choice have become important factors. In addition, many companies take strategic alliances as a bridge before acquisitions. The relationship between strategic alliances and the performance of acquisitions need more attention.

This research looks at knowledge intensive industry, and examines relationship between the internal characteristics of organizations and acquisition performance. This study only focus on the acquisition events that have prior strategic alliances before acquisitions, in order to find out whether different types of strategic alliances moderate the relationship between organizational characteristics and acquisition performance.

The sample size for empirically testing hypothesis is 115. The results show that both industry similarity and knowledge assimilation ability in knowledge intensive industry affect acquisition performance. If the prior strategic alliance type is exploitation alliance, it strengthens the positive relationship between industry similarity and acquisition performance.
論文目次 第一章 緒論…………………………………………………………… 1
第二章 文獻探討……………………………………………………… 5
2.1併購前行為經驗與併購後併購公司績效的關係…………………………… 5
2.2併購後整合特性或行為與併購後併購公司績效的關係……………………12
2.3併購公司的組織特性與併購後併購公司績效的關係………………………19
2.4併購雙方的組織特性差異與併購後併購公司績效的關係…………………26
2.5文獻缺口………………………………………………………………………31
第三章 假說發展………………………………………………………34
3.1假說架構………………………………………………………………………34
3.2假說發展………………………………………………………………………34
第四章 研究方法………………………………………………………43
4.1資料來源與樣本………………………………………………………………43
4.2自變數…………………………………………………………………………45
4.3應變數…………………………………………………………………………46
4.4調節變數………………………………………………………………………46
4.5控制變數………………………………………………………………………47
4.6研究方法………………………………………………………………………48
第五章 研究結果………………………………………………………50
5.1迴歸前檢驗……………………………………………………………………50
5.2迴歸分析結果…………………………………………………………………50
第六章 結論……………………………………………………………59
6.1研究結果說明…………………………………………………………………59
6.2學術與管理上的貢獻…………………………………………………………61
6.3研究限制與研究建議…………………………………………………………63
文獻…………………………………………………………………… 65

表目錄
表2-1 併購前行為與經驗作為變數……………………………………………… 8
表2-2 併購後整合的行為或特性作為變數………………………………………15
表2-3 併購公司的特性作為變數…………………………………………………22
表2-4 併購雙方的組織特性差異作為變數………………………………………28
表4-1 資料來源、變數整理與研究方法…………………………………………49
表5-1 皮爾森相關係數矩陣(Pearson Correlation Matrix)……………54
表5-2 對併購效益的影響與調節效果……………………………………………55
表5-3 假設結果整理………………………………………………………………58

圖目錄
圖2-1 過去文獻變數整理………………………………………………………… 5
圖4-1 樣本篩選步驟………………………………………………………………44
圖5-1 利用型聯盟對產業相似性與併購效益的調節(以併購一年後銷貨收入成長率為應變數)…………………………………………………………… 56
圖5-2利用型聯盟對產業相似性與併購效益的調節(以併購兩年後銷貨收入成長率為應變數)…………………………………………………………… 56
圖5-3 探索型聯盟對策略聯盟經驗與併購效益的調節(以併購一年後銷貨收入成長率為應變數)………………………………………………………… 57
圖5-4 探索型聯盟對策略聯盟經驗與併購效益的調節(以併購兩年後銷貨收入成長率為應變數)………………………………………………………… 57
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