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研究生:林姿佑
研究生(外文):Tzu-Yu Lin
論文名稱:財務限制、競爭優勢和策略考量對國內擴張的進入模式選擇和營運績效的影響
論文名稱(外文):The Effect of Financial Constraints, Competitive Advantages, and Strategic Considerations on Entry Mode Choice and Performance of Domestic Expansion
指導教授:沈仰斌沈仰斌引用關係
指導教授(外文):Yang-pin Shen
學位類別:碩士
校院名稱:元智大學
系所名稱:財務金融學系
學門:商業及管理學門
學類:財務金融學類
論文種類:學術論文
論文出版年:2009
畢業學年度:97
語文別:英文
論文頁數:51
中文關鍵詞:國內擴張進入模式財務限制
外文關鍵詞:Domestic expansionEntry modeFinancial constraints
相關次數:
  • 被引用被引用:0
  • 點閱點閱:111
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  • 收藏至我的研究室書目清單書目收藏:1
企業在進行擴張時,會考量到某些因素以做出最適的進入模式決策。本篇研究應用Chen (2008) 的觀點與方法,將進入模式決策分為兩種,一為購併和新創,另一為獨資和合資,形成了2x2的決策模式。本研究與先前研究的不同之處在於觀察美國企業進行國內擴張,而非國際擴張,並納入了過去很少考慮的公司財務限制因素對公司選擇進入模式的影響,結果發現財務限制愈低的公司會愈傾向使用獨資新創的進入模式。另外,本研究也發現公司選擇的進入模式與本模型預期相符時,公司未來有較好的營運績效。
The study follows the approach of Chen (2008) to explore which factors lead U.S firms to expand domestically through the choice of entry strategies during 1999 to 2005. The approach of Chen (2008) is to split entry mode choice into ownership and acquisition (vs. greenfield investment) on domestic expansion in the US. There is evidence that US firms with less financial constraints choose greenfield investment through full ownership. The study also found that firms should have better subsequent performance when the firm’s entry mode choice consists with prescription of the model.
I. Introduction 1
II. Literature Review and Hypothesis 3
II.1 Determinants of entry modes 4
II.1.1 Financial constraints 4
II.1.2 Competitive advantages 6
II.1.3 Strategic considerations 9
II.2 Impact of mode choice on performance 10
III. Data and Methodology 11
III.1 Sample description 11
III.2 Sample distribution 12
III.3 Methodology 13
II.3.1 Determinants of entry modes 13
II.3.2 Impact of mode choice on performance 15
III.4 Definition of independent variables 17
IV. Empirical Results 20
IV.1 Descriptive statistics 20
IV.2 Regression results 21
IV.2.1 Determinants of entry modes 21
IV.2.2 Impact of mode choice on performance 24
V. Robustness Test 25
VI. Conclusion 27
Reference 29
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