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| Title: | 國際併購策略與整合-以中美矽晶為例
A Case Study on the International M&A and Integration |
| Authors: | 黃渝婷 |
| Contributors: | 邱奕嘉
黃渝婷 |
| Keywords: | 半導體產業
國際併購
併後整合
人力資源管理
Semiconductor Industry
International M&A
Post-merger Integration
HR Management |
| Date: | 2015 |
| Issue Date: | 2015-08-17 14:05:31 (UTC+8) |
| Abstract: | 在現今競爭激烈且日益趨向全球化的市場上，企業追求成長的壓力不斷的增加，企業若是無法持續成長，就可能隨時被市場淘汰，而併購是企業追求成長的重要方式之一，企業併購通常被認為可以帶給企業獲利、加速發展、提升市場占有率、實現規模經濟、掌握上下游資源、取得專利技術等諸多好處，但看似美好的背後往往潛藏著許多看不見的危機，嚴重的話更可能帶來併購失敗的災難性後果。而企業合併後馬上面臨許多整合問題，包含人事安排、組織改造、市場整合以及品牌定位等重要項目。跨國的企業併購更需要考量不同的國情文化、法律以及政治問題，併購成功與否的關鍵也更加複雜。
本研究欲探討的是國際併購的動機、併購整合的關鍵成功因素，有鑑於全球半導體產業已趨成熟，競爭也越來越白熱化，特別以半導體產業的國際併購為研究的主題，採用深入訪問，重視研究中的第一手資料，解析個案公司如何從併購初期評估到併購後管理的決策與執行過程，如何以尊重和執行力來重新組織被併公司的制度並保存優良的原有企業文化、增加生產力，讓併購後組織能快速提升運作效率與維持彈性，併購後資源的共享、技術及智財的交流，持續提升研發創新能力、增加員工歸屬感及信賴感都是重要的因素，巧妙融合人性化管理，才是真正戰力升級的關鍵，此個案值得作為國際企業併購決策者對於併購評估與提升經營效率之學習標竿。
Nowadays, due to the highly competitive and gradually-globalized market, the pressure on enterprises to pursue growth increases continually. If enterprises failed to continue to grow in the market, they would be eliminated through competition. M&A (merger and acquisition), as one of the most important ways to pursue business growth, is generally thought to bring corporate profits, accelerated development, increased market share and achieve economies of scale, master upstream and downstream resources, patented technology and many other benefits. However, there are also many invisible crises that can bring enterprises catastrophic consequences. Once the M&A is decided, the enterprise will immediately face lots of issues, including personnel arrangements, reconstruction of organization, market integration and brand positioning. When it comes to cross-border M&A, the key to the success is much more complex, as the different national cultures, legal and political issues need to be considered by the enterprise at the same time.
In this study, the motivation of international M&A, and the critical factors of successful merger integration were explored. In view of the global semiconductor industry has matured and the competition has become increasingly intense, the research topic was focused on the international M&A in the semiconductor industry. By using in-depth interviews as the first-hand research data, the case company’s early acquisition evaluations and post-merger management decisions were resolved in detail. In conclusion, the keys to upgrading a company’s competitiveness are how to reorganize and keep the acquired company`s system and original excellent culture through a respectful way, how to quickly improve operational efficiency and increase productivity of the merged corporation without sacrificing organization flexibility, continuing to enhance research and innovation capacity by sharing and exchanging technologies and intellectual property resources, and increasing employees’ sense of belonging and trust via integrating humane management. This case is worth as an important reference to international M&A decision makers for evaluation and enhancing the operational efficiency in the future. |
| Reference: | 一、 中文部分
書籍
1. 伍忠賢. (2002). 企業併購理論與實務. 台北市: 新陸書局.
2. 林柄滄. (2000). 成功的企業購併. 台北: 眾信聯合會計師事務所.
黃偉峰. (2002). 併購實務的第一本書: 商周出版.
3. 潘秀菊. (2002). 企業的擴充與多角化經營策略：分公司、轉投資、關係企業、併購、控股公司. 台北市: 永然文化.
4. 薛明玲, 廖烈龍, 林宜賢, & 會計. (2006). 企業併購策略與最佳實務: 資誠教育基金會.
期刊
1. 吳安妮. (1992). 台灣企業併購動機之實證研究. 管理評論, 11, 1-27.
2. 姚蕙芸. (2001). 企業併購類型, 評價方法, 及綜效之探討.
3. 郭櫻枝、李文智與蔡彥卿. (2004). 企業分割策略之研究 - 以康師傅分割飲料事業個案為例. 證交資料(511期).
4. 勞倫斯•凱普隆&威爾•米契爾. (2010). 成功取得資源之道. 哈佛商業評論 全球繁體中文版, 七月號, 95-100.
5. 鍾憲瑞, & 羅萱. (2010). 不同脈絡觀點下的個案研究途徑. 中華管理評論國際學報, 13(2).
碩博士學位論文
1. 林瑞娟. (2008). 台灣企業併購後組織整合之個案研究. 國立臺灣大學國際企業學研究所.
2. 邱智勳. (2014). 企業併購中員工投入度之研究—以輝瑞藥廠併購案為例. 國立清華大學主管經營管理碩士在職專班學位論文.
3. 邱黃傑. (2011). 被動元件產業以併購策略建立競爭優勢之研究-以國巨公司為例. 國立臺灣大學企業管理碩士專班論文.
4. 徐景星. (2007). 企業併購下整合策略之研究. 國立政治大學經營管理碩士學程論文.
5. 陳則銘. (2004). 企業併購之相關智慧財產管理策略與法律規劃研究－以併購美國高科技公司時之專利查核評估探微. 國立政治大學智慧財產研究所論文.
6. 廖雙利. (2007). 跨國併購與文化整合的研究. 政治大學國際經營與貿易研究所學位論文.
7. 鄭凱元. (2006). 併購關鍵成功因素之研究─ 以明基西門子為例. 國立政治大學企業管理研究所學位論文.
8. 闕曉俐. (2004). 跨國聯盟關係演進與企業成長策略之個案研究. 國立臺灣大學國際企業學研究所學位論文.
二、 英文部分
1. Aaker, D. A. Developing Business Strategies. New York: John Willey & Sons.
2. Bower, J. L. (2001). Not All M&As Are Alike–and That Matters.
3. Creswell, J. W. (2012). Qualitative inquiry and research design: Choosing among five approaches: Sage.
4. Eisenhardt, K. (1989). Building theories from case study research. Academy of Management Review, 14(4), 532-550.
5. Eisenhardt, K. M. (1989). Making fast strategic decisions in high-velocity environments. Academy of Management journal, 32(3), 543-576.
6. Ouchi, W. (1981). Theory Z: How American business can meet the Japanese challenge. Business Horizons, 24(6), 82-83.
7. Rockart, J. F. (1979). Chief executives define their own data needs. Harvard business review, 57(2), 81.
8. Schein, E. H. (2010). Organizational culture and leadership: John Wiley & Sons.
9. Schweiger, D. M., Ivancevich, J. M., & Power, F. R. (1987). Executive actions for managing human resources before and after acquisition. The Academy of Management Executive, 1(2), 127-138.
10. Strauss, A., & Corbin, J. M. (1990). Basics of qualitative research: Grounded theory procedures and techniques: Sage Publications, Inc.
11. Yin, R. (1994). Case study research: Design and methods . Beverly Hills: CA: Sage publishing.
三、 網站部分
1. MBA智庫百科：橫向合併, Retrieved February,07,2015, from http://wiki.mbalib.com/zh-tw/%E6%A8%AA%E5%90%91%E5%90%88%E5%B9%B6
2. 股感知識庫：併購的發展史, Retrieved February,09,2015, from http://www.stockfeel.com.tw/%E4%BD%B5%E8%B3%BC%E7%9A%84%E6%AD%B7%E5%8F%B2%E7%99%BC%E5%B1%95/
3. MBA智庫百科：槓桿收購, Retrieved February,11,2015, from http://wiki.mbalib.com/zh-tw/%E6%9D%A0%E6%9D%86%E6%94%B6%E8%B4%AD
4. MBA智庫百科：管理層收購, Retrieved February,12,2015, from http://wiki.mbalib.com/zh-tw/%E7%AE%A1%E7%90%86%E5%B1%82%E6%94%B6%E8%B4%AD
5. MBA智庫百科：併購, Retrieved February,16,2015, from http://wiki.mbalib.com/zh-tw/%E5%B9%B6%E8%B4%AD#
6. 併購流程的六個階段, Retrieved February,16,2015, from http://www.kjcity.com/news_44940.html
7. MBA智庫百科：人力資源整合, Retrieved February,22,2015, from http://wiki.mbalib.com/zh-tw/%E4%BA%BA%E5%8A%9B%E8%B5%84%E6%BA%90%E6%95%B4%E5%90%88
8. MBA智庫百科：意向書, Retrieved July,05,2015, from http://wiki.mbalib.com/zh-tw/%E6%84%8F%E5%90%91%E4%B9%A6#
9. MBA智庫百科：沙因的睡蓮模型, Retrieved July,06,2015, from http://wiki.mbalib.com/zh-tw/Water_lily_model |
| Description: | 碩士
國立政治大學
企業管理研究所
103363045 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0103363045 |
| Data Type: | thesis |
| Appears in Collections: | [企業管理學系] 學位論文
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