臺灣博碩士論文加值系統

隨著近年全球經濟環境的變化與整合，許多企業面臨各種經營挑戰，本研究以台灣多國籍衰退企業為樣本，探討多國籍企業面臨衰退情勢，試圖轉型改善營運困境並尋求新的成長機會，而逆轉衰退情勢的策略即為本研究探討之主題-反轉策略。過去學者研究反轉策略與績效間之關係時，多將焦點置於境內的緊縮活動作為探討主題，而本研究則聚焦於跨邊境緊縮活動，也就是國際撤資對於績效的影響。本研究除了探討國際撤資對於多國籍衰退廠商的績效關係外；同時亦針對較少學者探討的國際撤資速度進行探究，並檢視撤資速度與績效間的關係。
本研究利用台灣上市企業做為研究樣本(1996-2011)，進行統計資料分析，在控制其他可能影響績效的因素下(如：組織年齡、員工數、資本額…等)，進行分析深入探討。實證結果顯示，衰退公司於首次反轉時，組織年齡較大的衰退廠商傾向提升海外銷售比率、減少海外子公司數致使企業反轉成功。在國際撤資速度方面，組織年齡與資本額較大之衰退公司在海外產銷組合的調整速度較慢，需要較長時間的整合會帶來較佳之績效。

Owing to rapid environmental change, many firms can’t play well in this tumultuous time. Lots of studies have indicated that declining firms might conduct activities to a turnaround, and most of them focus on the business activities within the national borders. Relatively less research has been conducted to investigate the relationship between foreign divestment and turnaround strategy. The purpose of this study is to delineate the relationship between performance of turnaround and foreign divestment approach; foreign divestment speed and turnaround performance. We specifically focus on the first declining firms.
The data set was collected form the TEJ (Taiwan Economic Journal Financial Databank), and sample are firms in the all industries covering the period from 1996 to 2011. The result were found that during the first-time turnaround, (1) increasing FSTS (foreign sales as a percentage of total sales) were beneficial on turnaround performance; (2) declining firm’s performance will improve through decreasing foreign subsidiary; and (3) increasing FSTS slowly can improve the turnaround performance.

目錄
中文摘要 2
Abstract 3
第一章 緒論 8
第一節 研究動機與背景 8
第二節 研究問題與目的 11
第三節 研究範圍 13
第四節 研究流程 14
第二章 文獻回顧與假說推導 16
第一節 反轉策略 16
第二節 國際撤資 19
第三節 國際撤資的速度 25
第四節 假說推導 29
第三章 研究方法 35
第一節 資料來源 35
第二節 樣本篩選 38
第三節 變數定義與衡量 40
第四節 資料分析方法 47
第四章 實證結果 48
第一節 敘述性統計分析 48
第二節 迴歸分析與研究假說檢定之結果 56
第三節 統計分析結果小結 61
第四節 實證結果討論 62
第五章 結論與建議 64
第一節 研究結論 64
第二節 研究貢獻 66
第三節 研究限制與未來研究建議 68
參考文獻 70

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二、 網路資源
財政部進出口貿易統計 http://www.mof.gov.tw/ct.asp?xItem=60024&CtNode=168&mp=1
臺灣證券交易所公司歷史介紹 http://www.twse.com.tw/ch/
台灣區電機電子工業同業公會 http://www.teema.org.tw/index.aspx
行政院經濟建設委員會 http://www.cepd.gov.tw/
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