臺灣博碩士論文加值系統

鑑於市場競爭激烈，許多企業犢極擴大市占率、增加獲利大多以透過併購的方式來創造更大的綜效價值，然而在全球的企業併購風潮中，根據研究顯示僅有少數的併購案能創造更大的綜效價值。許多的研究顯示組織因素在併購中扮演著重要的角色，加上組織的整合是併購案成功的關鍵，是以本研究以企業如何透過組織因素來達成併購的綜效，並加上整合機制來探討其對組織因素與併購後績效間的關係。
本研究的目的是以探討組織因素對併購後績效的影響，以及探討在加上整合機制後對組織因素與併購後績效是否具有干擾效果。本研究以個案方式進行，以台灣TFT-LCD面板業(友達與廣輝)併購為例，研究對象為併購個案公司中的員工，回收的有效問卷樣本為137份(回收率76.11%)。在研究方法上，以非財務面的角度，採取併購績效之主觀知覺做為績效的衡量。本研究並以敘述性統計，因素分析，相關分析，多元迴歸分析等統計分析來進行資料分析。
本研究的主要發現如下：
1. 經濟不確定性、溝通管道、人事制度、整合計畫、留才措施、行動績效導向及程序導向對工作滿意度有顯著的影響。
2. 在併購滿意度的部分則只有留才措施與程序導向有顯著的影響。
3.在整合機制的干擾效果方面，整合機制對程序導向與併購後績效滿意度有負向的強化作用。
透過本研究的結果與發現，可以提供企業與不同產業間在進行併購時的參考，並在後續研究可做更深入且廣泛的研究。

Due to the commercial market competition is getting keener, many enterprises aggressively achieve to expand market share and to enjoy more profits as well as earn greater synergistic value by mean of M&A business model. However, in the trend of M&A business activity for global enterprise, according to many studies revealed that only a few M&A cases are able to earn greater synergistic value. Many researches show that organizational factors play the important roles in the M&A business activity, and the organizational integration is the key to the success of M&A cases. Hence, the study discusses how enterprises reach the synergistic effect with organizational factors, and add on the integration mechanism to discuss its relationship between organizational factors and post-merge performance.
The purpose of the study is to discuss the effects of organizational factors on post-merger performance, and integration mechanism is added to discuss its moderating effects on organizational factors and post-merger performance. The study is proceed by case study of Taiwan TFT-LCD panel industry (AUO and QDI) M&A. The study takes the employees of the M&A case study as a survey object, the valid questionnaire samples are 137(response rate76.11%). In the research method, we take a viewpoint of non-financial and use subjective perception of merger performance to measure performance. The study takes descriptive statistical analysis, factor analysis, correlation analysis, and multiple regressions to do data analysis.
The main discoveries of the study as follows:
1. Economic uncertainty, communication channel, personnel system, integration plan, retained employee approach, action performance orientation, and process orientation have a significant effect on job satisfaction.
2. In the part of M&A satisfaction, only retained employee approach and process orientation have significant effect.
3. In the part of moderating effect of integration mechanism, integration mechanism has a stronger negative effect on process orientation and post-merger performance satisfaction.
The results and the discoveries of the study provides not only enterprises and a variety of industries could adept in M&A activities for reference, but also for researches by taking further deep and widespread study.

摘要..................................................................................................IV
英文摘要..........................................................................................................V
誌謝..............................................................................................VII
目次..............................................................................................................................VIII
表目錄..........................................................................................................................X
圖目錄................................................................................................................XIII
第一章 緒論...................................................................................................................1
第一節 研究背景與動機.......................................................................................1
第二節 研究目的...................................................................................................8
第三節 研究流程...................................................................................................9
第二章 文獻探討.........................................................................................................10
第一節 產業介紹.................................................................................................10
第二節 併購.........................................................................................................57
第三節 整合管理.................................................................................................70
第四節 組織因素.................................................................................................75
第五節 組織文化.................................................................................................83
第六節 績效.........................................................................................................89
第三章 研究方法.............................................................................................92
第一節 研究架構.................................................................................................92
第二節 研究假設.................................................................................................93
第三節 變數操作性定義與衡量.........................................................................95
第四節 抽樣設計...............................................................................................103
第五節 資料分析方法.......................................................................................103
第四章 資料分析.......................................................................................................105
第一節 問卷發放資料.......................................................................................105
第二節 敘述統計分析.......................................................................................105
第三節 因素分析...........................................................................115
第四節 信度與效度分析...................................................................................125
第五節 相關分析.......................................................................................133
第六節 組織因素各構面對績效影響之迴歸分析...........................................135
第七節 以整合機制為干擾變數之迴歸分析...........................................143
第五章 結論與建議...................................................................................................151
第一節 研究結果...............................................................................................151
第二節 結論.......................................................................................................157
第三節 研究建議...............................................................................................158
第四節 研究貢獻...................................................................................160
參考文獻
中文部分.......................................................................................................................161
英文部分.......................................................................................................................163
網站部分.......................................................................................................................168
附錄：本研究問卷.........................................................................................................169

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