臺灣博碩士論文加值系統

本文考慮實質匯率不確定性下，推廣Abel (1983)之Cobb-Douglas型生產函數模式，及應用Dixit (1989)實質選擇權方法探討廠商進入與退出之決策模式，建立新的一次齊次生產函數之一般化生產據點自由移轉評估模式，考慮廠商於批量生產模式中，選擇最適生產據點之決策法則。本文針對廠商處於實質匯率依循幾何布朗運動變動下，求出移轉生產據點之最適門檻值、證明相關性質及敏感度分析，研究結果可提供廠商決策者擬定生產據點移轉政策之參考。

We extend Cobb-Douglas production function with Abel’s (1983) model, and refer real options approach for entry-exit decision making with Dixit’s (1989) model under uncertainty of real exchange rate. The first order of degree homothetic production functions for producing general form is considered by the making rule of decision in the developed model. We attempt to formulate the real options approach for valuing the behavior of transferable location freely. Also we look for closed form solution of the upper and lowered bounded threshold value, sensitive analysis, and some of characteristics to prove under optimal production strategy, it provides decision maker for another way of thinking.

目 錄
頁次
論文題目
博碩士論文電子檔案上網授權書
論文口試委員會審定書
推薦函
誌謝
中文摘要
英文摘要
目 錄 I
圖 目 錄 III
表 目 錄 IV
符 號 表 V

第一章 緒 論 1
1.1 研究背景與動機 1
1.2 研究問題與目的 4
1.3 研究對象與限制 9
1.4 研究架構 10
1.5 論文結構 13
第二章 文獻回顧 15
2.1 全球營運管理之跨國生產據點移轉相關文獻 16
2.1.1 全球國際分工 16
2.1.2 影響國際企業營運之因素 23
2.1.3 實質匯率變動對FDI的影響效果 25
2.2彈性理論 27
2.2.1彈性的定義 27
2.2.2彈性的分類與策略性投資 29
2.3 相關實質選擇權文獻 30
2.3.1 相關實質選擇權文獻－實質選擇權之概念 31
2.3.2 相關實質選擇權文獻－實質選擇權發展史之簡介 33
2.3.3 相關實質選擇權文獻－實質選擇權方法與應用之領域 34
2.3.4 相關實質選擇權文獻－實質選擇權方法數學構建 36
2.4 實質選擇權與對外投資關係之相關文獻 37
第三章 模式的構建與求解 44
3.1 模式解說 45
3.2 符號與假設 46
3.3 一次齊次生產函數型態之批量生產模式 51
第四章 決策法則之比較與最適解相關推論 63
4.1 決策法則之比較 64
4.1.1 傳統NPV法則 64
4.1.2 實質選擇權分析 67
4.2 近似解之分析 71
第五章 模式退化與整合 84
5.1 模式退化分析 85
5.1.1 進入/退出模式退化成進入模式 86
5.1.2 進入/退出模式退化成退出模式 87
5.1.3 進入/退出模式－實質匯率門檻值之大小比較 88
5.2 一次齊次生產函數解析解間之相關性 90
第六章 結論與建議 95
6.1 結論 95
6.2 對產業應用之建議 105
6.3 對後續研究之建議 105
參考文獻 108
附錄A：本國生產最適要素配置比例之證明 116
附錄B：選擇權價值之計算 120
附錄C：他國生產最適要素配置比例之證明 122
附錄D：證明 為遞增函數 126
附錄E：模式退化之引理－1 127
附錄F：模式退化之引理－2 129
博士候選人簡歷 130







圖 目 錄
頁次
圖1.1全球行銷演進的階段 5
圖1.2國別選擇程序 6
圖1.3國際市場進入模式 7
圖1.4研究架構 12
圖2.1文獻架構 15
圖2.2管理彈性導致期望值分配之不對稱性 32
圖3.2兩國間生產據點選擇模式 44
圖3.1生產據點移轉之進入/退出分析模式架構圖 46
圖3.3進入及退出之實質匯率門檻值之計算 62
圖4.1決策法則分析比較架構圖 63
圖4.2傳統NPV法則之門檻值分析 67
圖4.3實質選擇權概念之門檻值分析 83
圖5.1模式退化及整合架構圖 85
圖5.2實質匯率門檻值之相關位置－1 89
圖5.3實質匯率門檻值之相關位置－2 89
圖5.4實質匯率門檻值之整合分析 94
附圖 D. 1 F = F(Ρ)之函數圖形， 126
附圖 D. 2 之函數圖形， 126


















表 目 錄
頁次
表2.1影響國際企業營運風險之類型 23
表2.2企業海外投資動機之類型 24
表2.3組織回應不確定性之類型 25
表2.4 VOLBERDA (1999)之彈性矩陣 29
表2.5 VOLBERDA (1999)之外部及內部彈性分列表 30
表2.6關鍵文獻整合表 42
表4.1傳統NPV法則－實質匯率門檻值之敏感度分析 65
表4.2實質選擇權概念－實質匯率門檻值之敏感度分析 71
表4.3實質選擇權概念－實質匯率門檻值下界之敏感度分析 75
表4.4實質選擇權概念－實質匯率門檻值上界之敏感度分析 78

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