臺灣博碩士論文加值系統

本篇研究分析企業擴張活動及再造活動對企業長期績效影響，研究對象為鴻海精密工業股份有限公司及宏�眭悒鬫陪迨膝q，觀察期間由 1991 年至 2005 年止，所使用的資訊皆為公開資料。本文所採用方法要為個案分析，以期能歸納企業活動之成效優劣。
研究結果顯示，企業的目標與文化對企業的成敗影響深遠，倘若企業公司目標不明確且各事業群之間相互協調與整合的機制不建全，較易產生代理人問題，影響企業長期績效。策略聯盟及合資案例顯示此類活動確實存有投機行為而產生之財富移轉效果之現象。購併活動案例顯示，若屬非核心能力延伸之多角化者，其購併案之績效不彰，若屬擴充本業的規模而執行購併活動者，其結果對企業長期績效有正面影響。當企業陷入核心競爭力衰退、績效不彰時，以再造活動對公司目標及策略重新聚焦專注本業是有助於提升企業長期績效。

This study provides clinical analyses for two Taiwanese high-tech companies, Acer and Hon Hai. The analyses involve their goals, business cultures, product investments, expansions (mergers and acquisitions (M&As) and joint ventures, and strategic alliances), and restructuring activities from 1991 to 2005. I find that these issues exert profound impacts on their performance. With fuzzy goals and a culture emphasizing on unit cohesiveness, Acer tends to have serious agency problems which deteriorates its long-term performance. The strategic alliances and the joint ventures of these two companies exhibit opportunistic behavior, causing the wealth-transferring effect. Several M&A cases of these two companies intended to diversify in different business areas. However, their core competence did not put added value so that their performance was not significantly improved. I also find that, with a declining performance, Acer endeavored to undertake restructurings in order to re-focus on its core businesses, which helped to improve its performance.

第一章、緒論……………………………………………………… 1
第一節、研究動機……………………………………………… 1
第二節、研究目的……………………………………………… 1
第三節、研究對象……………………………………………… 1
第四節、研究架構………………………………………………… 2
第二章、文獻回顧………………………………………………… 3
第一節、購併相關文獻………………………………………… 3
第二節、策略聯盟相關文獻…………………………………… 4
第三節、企業再造相關文獻…………………………………… 4
第三章、研究方法………………………………………………… 5
第一節、資料來源……………………………………………… 5
第二節、研究方法……………………………………………… 5
第四章、鴻海集團策略分析……………………………………… 9
第一節、公司目標與文化……………………………………… 9
第二節、產品發展與策略……………………………………… 10
第三節、擴充策略……………………………………………… 16
第四節、公司治理……………………………………………… 19
第五節、績效分析……………………………………………… 21

第五章、宏�硍偎庰曳中尷R……………………………………… 28
第一節、公司目標與文化……………………………………… 28
第二節、產品與擴充策略……………………………………… 29
第三節、公司再造……………………………………………… 34
第二節、公司治理……………………………………………… 38
第二節、績效分析……………………………………………… 42
第六章、結論……………………………………………………… 52
參考文獻…………………………………………………………… 53

中文部份：
Porter,M.E. 李明軒、邱如美譯,「競爭優勢」，天下文化，1999年。
張殿文著，虎與狐-郭台銘的全球競爭策略，天下文化，2005年。
施振榮著，再造宏�痋A天下文化，2004年。
施振榮著，宏�眭漸@紀變革，天下文化，2004年。

英文部份：
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