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研究生:吳旻峯
研究生(外文):Wu Min-Feng
論文名稱:高階經理團隊特質對併購決策之影響
論文名稱(外文):The Effect of Top Management Team Characteristics on Merger & Acquisitions
指導教授:酈芃羽酈芃羽引用關係
指導教授(外文):Li Peng-Yu
口試委員:羅芳怡邱琦倫
口試委員(外文):Lo Fang-YiChiou Chyi-lun
口試日期:2015-06-30
學位類別:碩士
校院名稱:輔仁大學
系所名稱:國際經營管理碩士學位學程
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:2015
畢業學年度:103
語文別:中文
論文頁數:48
中文關鍵詞:高階經理團隊特質併購類型相關併購非相關併購社會資本
外文關鍵詞:Top Management Team CharacteristicsTypes of Merger & AcquisitionsRelated Merger & AcquisitionsUnrelated Merger & AcquisitionsSocial capital
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全球掀起併購風潮,近幾年來併購越來越受到重視。許多企業透過併購策略,維持市場位置與增加市場競爭力。本研究探討有併購經驗之台灣企業,研究其併購類型之決策。其中,高階經理團隊在企業決策過成中扮演重要的角色,根據高層理論(upper Upper echelons theory),高階經理團隊之特質會影響決策的方向。過往研究少數結合高階經理團隊觀點與併購決策一起探討,所以本研究結合此觀點,探討高階經理團隊特質對於併購類型之相關與非相關併購之影響。本研究採用2002~2006年之間101有併購經驗上市上櫃企業之併購事件為研究樣本。研究結果發現,高階經理團隊之任期越短越會採取相關併購。而教育程度越高之高階經理團隊,越會採取非相關併購。因此,若企業想要採取非相關多角化時,可以聘用任期長或教育程度較高之高階經理團隊。若企業想採用相關併購時,則可以聘用任期短或教育程度不高之高階經理團隊。
Recently, firms trend to take merger & acquisitions (M&A) to keep competitive position. We view top management team taken an important roles of M&A decision. The study aims to examine the effect of top management team characteristics (tenure, educational level, shareholding rate & social capital) on M&A decision. Based on the upper echelons perspective with a sample of 101 listed companies that had M&A experience during 2002~2006, examining the effect of top management team characteristics on M&A decision. The result shows that top management team with shorter tenure tend to take the related M&A decision. Also, top management team with higher educational level tend to take unrelated M&A decision.
第 壹 章 緒論
第 一 節 研究背景與研究動機
第 二 節 研究目的
第 三 節 研究流程
第 三 節 研究範圍
第 貳 章 文獻探討
第 一 節 併購動機
第 二 節 併購定義與類型
第 三 節 高階經理團隊定義與特性
第 參 章 研究方法
第 一 節 樣本資料
第 二 節 變數衡量
第 肆 章 研究結果與分析
第 一 節 敘述性統計與相關分析
第 二 節 迴歸統計分析結果
第 伍 章 結論與建議
第 一 節 討論與結論
第 二 節 管理意涵
第 三 節 研究限制與未來建議
參考文獻

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