臺灣博碩士論文加值系統

在面臨全球化的競爭趨勢下，國內企業因而期望以透過購併的方式追求集團化或國際化。本研究主要探討企業購併後採用之員工留任辦法是否對企業經營績效產生影響。

本研究以個案深入訪談方式，分別對四家已發生購併之企業，以購併動機、人力資源員工留任及購併績效等方面為主軸進行訪談，之後再輔以個案公司之財務資料進行差異分析。本研究所挑選之個案公司分屬不同產業，且個案公司在其所屬產業內皆為具有代表性之指標性企業。

研究結果發現在員工留任上：個案公司以取得核心技術為主要動機時，對員工留任則會採全部留任為主。不論任何留任辦法，都會影響員工士氣，也會進一步影響員工生產力表現。

在購併績效上：實務上少有企業具體衡量購併結果，常以購併後是否達到其原先預期之購併動機來論定是否成功，對本研究大部份之個案公司而言，達到其最初購併動機即算是購併成功。

The competition trend of globalization for domestic enterprises forecast the pursuance of groups or internationalization through merges and acquisitions. The purpose of this research is to analyze the effects of enterprises using employee retention strategies to measure performance following a merge and acquisition.

The research uses individual case study interviews and analyzes four individual sample cases which focus on the motivation of the merge and acquisition by measuring employee retention and their performances. Subsequently, use the financial data to analyze the difference between before and after the merge and acquisition. The cases belong to different industries respectively and the cases are all representative index enterprises in its affiliated industry.

The results of the research indicated that part of employee retention is the company’s ability to motivate following a merge and acquisition. Targeting a company’s core technology would result in its employees adapting to a common strategy. The retention of employees will ultimately influence staff’s morale and productivity performance.

The other result of performance after a merge and acquisition revealed that enterprises weigh their results concretely on several practices. This is often reached by measuring the current state of motivation back to its original expectations. This research, in most case companies, reached its original expectation before the merge and acquisition which is regarded as a success.

Keywords: merger and acquisition, employee retention and performance

目 錄

第一章 緒論 ………………………………………………………………… 1
第一節 研究背景與動機………………………………………………………… 1
第二節 研究目的 ………………………………………………………………… 4
第三節 研究範圍 ………………………………………………………………… 5
第四節 研究流程 ………………………………………………………………… 6
第二章 文獻探討 ………………………………………………………………… 7
第一節 購併……………………………………………………………………… 7
第二節 人力資源員工留任……………………………………………………… 15
第三節 企業購併後績效評估…………………………………………………… 31
第三章 研究方法………………………………………………………………… 34
第一節 研究架構 ………………………………………………………………… 34
第二節 研究變數之定義………………………………………………………… 36
第三節 個案篩選過程…………………………………………………………… 37
第四節 研究程序與方法………………………………………………………… 39
第四章 研究結果………………………………………………………………… 41
第一節 個案研究…………………………………………………………………… 41
第二節 企業購併後人力資源評估……………………………………………… 82
第五章 結論…………………………………………………………………………… 86
第一節 研究結論 ………………………………………………………………… 86
第二節 研究建議與研究限制…………………………………………………… 88
參考文獻 …………………………………………………………………………… 89
附錄一 訪談大綱 ………………………………………………………………… 93
附錄二 個案公司訪談記錄 …………………………………………………… 94

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三. 其他

1.中華民國招商網經濟部投資業務處
http://investintaiwan.nat.gov.tw/zh-tw/news/200503/2005032801.html
2.經濟部商業司
http://www.moea.gov.tw/~meco/doc/ndoc/default_new.htm
3.行政院金融監督管理委員會
http://www.fscey.gov.tw/mp.asp
4.財訊文化事業網站
http://www.wealth.com.tw/wealth/newsite/index.asp
5.Watson Wyatt Worldwide(1998), M&A Survey ?U.S., Asia Pacific and Brazil
http://www.watsonwyatt.com/us/research/resrender.asp?id=DMY-4&page=1