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    政大機構典藏 > 商學院 > 企業管理學系 > 學位論文 >  Item 140.119/94638
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/94638


    Title: 併購關鍵成功因素之研究─以明基西門子為例
    Research on Key Success Factors for Mergers and Acquisitions - A Case Study of BenQ-Siemens
    Authors: 鄭凱元
    Contributors: 郭更生
    鄭凱元
    Keywords: 併購
    關鍵成功因素
    明基西門子
    Mergers and Acquisitions
    Key Success Factors
    BenQ-Siemens
    Date: 2007
    Issue Date: 2016-05-09 11:24:23 (UTC+8)
    Abstract: 在國際化的趨勢與全球化的競爭下,併購已經成為企業成長的重要手段之一。全球併購活動正蓬勃發展,台灣企業也投入併購的風潮當中,併購的目標公司不僅局限於台灣,更包括世界各地。明基收購西門子手機部門是眾所矚目的國際併購案,卻在全球的驚嘆聲中落幕。根據研究資料,企業併購案具有高失敗率,顯示企業併購不僅帶給企業新的機會,也帶來許多新的挑戰。

    面對全球併購風潮之興起與併購之高失敗率,本研究專注併購關鍵成功因素,採用歸納法,綜合文獻探討、個案研究、業界訪談等方法,探討併購應注意的事項,歸納併購關鍵成功因素,促使企業在併購時創造最高價值。

    本研究提出下列命題,做為企業在併購時之參考。
    命題一:併購前,企業應謹慎評估本身的管理能力。
    命題二:併購前,企業必須掌握本身經營狀況,尤其是財務能力。
    命題三:併購過程中,實地查核是企業選擇併購標的和整合計畫的基礎。
    命題四:併購過程中,留住人才是核心議題。
    命題五:國際併購時,語言、文化、與法規面是容易忽視的問題。
    命題六:併購後,在價值鍊上需要整合的價值活動越多,整合的難度越高。
    命題七:併購程序的每一步驟皆是高度相互關聯,任何一個環節的錯誤,皆可導致企業併購的失敗。
    命題八:併購時,企業應建立併購指南與關鍵成功指標,或由外部專家協助。
    Reference: 一、中文部份
    Robert K. Yin (2001),個案研究法,尚榮安譯,台北:弘智文化。
    王英裕 (2006),評明基放棄德國手機子公司事件,工研院經資中心ITIS計畫。
    余尚武、江玉柏 (1998),影響企業購併成敗之因素與策略探討,經濟情勢暨評論。
    沈勤譽 (2006),明基必修的3個學分,電子時報,11月30日。
    李宜萍 (2006),一堂350億元的購併課,管理雜誌,第389期。
    李書齊、張文耀 (2006),明基一場350億元的購併教訓,今周刊,第511期。
    李娟萍 (2006),黃日燦:BenQ併購失敗 值得借鏡,經濟日報,10月13日。
    李書齊 (2006),BenQ三萬哩長征,數位時代,第127期。
    林宏達 (2005),李焜耀改造明基 就靠西門子,商業周刊,第921期。
    林薰香、熊嘉彬 (2007),突破重圍—由BenQ-Siemen合併案看行動通訊市場競爭關鍵,資策會資訊市場情報中心。
    孫珮瑜 (2006),明基西門子 第一支雙品牌手機提前上路,天下雜誌,第339期。
    陳雅蘭 (2006),明基併西門子手機部門 資產鑑價 交國際仲裁,經濟日報,8月25日。
    陳隆麒 (1993),現代財務管理:理論與應用,台北:華泰書局。
    郭芷婷 (2005),明基蘇州會全球經銷商 700位紫衫軍,帶新明基攻頂,e天下雜誌,第56期。
    張殿文 (2005),BenQ革命一百天,數位時代,第110期。
    張殿文 (2005),BenQ-Siemens的4個新任務,數位時代,第110期。
    莊素玉、黃靖萱、孫珮瑜 (2006),李焜耀:企業不能打輸不起的仗,天下雜誌,第361期。
    黃靖萱、孫珮瑜 (2006),明基能否谷底重生?李焜耀的失敗學,天下雜誌,第361期。
    蔡靚萱 (2006),通路、研發、文化是明基最大問題,三百億台幣的教訓,財訊月刊,第296期。
    謝劍平 (2006),現代投資銀行,台北:智勝文化。
    薛明玲 (2006),企業併購策略與最佳實務,台北:財團法人資誠教育基金會。

    二、英文部份
    Adolph, Gerald (2006), “Mergers: Back to Happily Ever After,” Research Technology Management, 49(3), 64.
    Angwin, Duncan (2004), “Speed in M&A Integration: The First 100 Days,” European Management Journal, 22(4), 418.
    Carleton, J. Robert and Alan Stevens (2004), “When Worlds Collide: The Need for Cultural Assessment and Integration,” Performance Improvement, 43(6), 38-43.
    Cookson, Ian (2004), “M&A Issues Raise The Governance Bar,” Financial Executive, 20(7), 44-46.
    Cullinan, Geoffrey, Jean-Marc Le Roux, and Rolf-Magnus Weddigen (2004), “When to walk away from a deal,” Harvard Business Review, 82(4), 96.
    Davies, Ann-Marie (2002), “Mergers and acquisitions - how to retain value,” Mining Engineering, 54(7), 7-8.
    Donnelly, George (1999), “Secrets of the Deal,” CFO, 15(10), 25.
    Drucker, F. (1981), “The five rules of successful acquisition,” The Wall Street Journal, October 15.
    Duncan, Catriona, and Monia Mtar (2006), “Determinants of International Acquisition Success: Lessons from FirstGroup in North America,” European Management Journal, 24(6), 396-410.
    Economist (1999), “How to make mergers work,” The Economist, 9(1) 15-16.
    Epstein, Marc J. (2004), “The Drivers of Success in Post-Merger Integration,” Organizational Dynamics, 33(2), 174-189.
    Epstein, Marc J. (2005), “The determinants and evaluation of merger success,” Business Horizons, 48(1), 37-47.
    Finkelstein, Sydney, and Jerayr Haleblian (2002), “Understanding acquistion performance: The role of transfer effects,” Organization Science, 13(1), 36-47.
    Harding, David, and Ted Rouse (2007), “Human Due Diligence,” Harvard Business Review, 85(4), 124.
    Harding, David, Sam Rovit, and Catherine Lemire (2004), “Staying Cool When Deal Pressures Mount,” Mergers and Acquisitions, 39(12), 24-29.
    Hitt, Michael A., and Vincenzo Pisano (2003), “The Cross-Border Merger and Acquisition Strategy: A Research Perspective,” Management Research, 1(2), 133.
    Homburg, Christian, and Matthias Bucerius (2006), “Is speed of integration really a success factor of mergers and acquisitions? An analysis of the role of internal and external relatedness,” Strategic Management Journal, 27(4), 347.
    Mallette, Paul, Karen L. Fowler, and Cheri Hayes (2003), “The acquisition process map: Blueprint for a successful deal,” Southern Business Review, 28(2), 1.
    Nguyen, Han, and Brian H. Kleiner (2003), “The effective management of mergers,” Leadership & Organization Development Journal, 24(7/8), 447-454.
    Paine, Frank T., and Daniel J. Power (1984), “Merger Strategy: An Examination of Drucker`s Five Rules for Successful Acquisitions,” Strategic Management Journal, 5(2), 99-111.
    Parenteau, Richard and J Fred Weston (2003), “It`s never too early to think integration,” Mergers and Acquisitions, 38(11), 17.
    Perriello, Brad (2007), “Successfully integrating an acquisition,” Industrial Distribution, 96(2), 34.
    Pike, Caroline (2006), “Mergers and Acquisitions: Managing Culture and Human Resources,” Personnel Psychology, 59(2), 480-484.
    Schraeder, Mike, and Dennis R. Self (2003), “Enhancing the success of mergers and acquisitions: An organizational culture perspective,” Management Decision, 41(5/6), 511-522.
    Smith, Ken, Eliza O`Niel, and Bill Streeter (2003), “Bank-to-bank deals seldom add value,” American Bankers Association. ABA Banking Journal, 95(12), 7-10.
    Smith, Stephen J. (2005), “How to Make a Decision about Mergers and Acquisitions,” The Journal of Business Forecasting, 24(2) 11-15.
    Very, Philippe, and David M. Schweiger (2001), “The acquisition process as a learning process: Evidence from a study of critical problems and solutions in domestic and cross-border deals,” Journal of World Business, 36(1), 11.
    Vestring, Till, Ted Rouse, and Sam Rovit (2004), “Integrate Where It Matters,” MIT Sloan Management Review, 46(1), 15.
    Weissman, Kip A., and Rick L Childs (2006), “Nine months before your merger - planning for a healthy merger "baby",” Community Banker, 15(8), 40-44.
    Yin, Robert K. (1994), Case Study Research: Design and Methods, Thousand Oaks: Sage Publications, 2.
    Zollo, Maurizio, and Harbir Singh (2004), “Deliberate learning in corporate acquisitions: post-acquisition strategies and integration capability in U.S. bank mergers,” Strategic Management Journal, 25(13), 1233-1256.

    三、網站部份
    明基公司網站:http://www.benq.com.tw
    Siemens公司網站:http://www.siemens.com
    Sony Ericsson公司網站:http://www.sonyericsson.com
    Ericsson公司網站:http://www.ericsson.com
    Sony公司網站:http://www.sony.com
    宏碁公司網站:http://www.acer.com.tw
    Description: 碩士
    國立政治大學
    企業管理學系
    94355001
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0094355001
    Data Type: thesis
    Appears in Collections:[企業管理學系] 學位論文

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