An Application of Balance Scorecard to Success or Failure Factors of Business Merger 蘇冠銘、唐啟發
E-mail: 9707216@mail.dyu.edu.tw
ABSTRACT
From a global perspective, the trend of merging between enterprises is much active. The tactic of mergers and acquisitions is one common way of companies to expand. This study examines the performances of companies after mergers to discuss its factors of success or failure. The study is conducted by cases study. We choose two mergers of telecommuni-cations industry of FarEasTone and KG Telecommunications and the case of Taiwan-Moble and TransAsia Telecommunication. By discussing the mergers’
performance from financial perspective, customer perspective, internal process perspective and learning and growth perspective of balanced scorecards(BSC) and conducting the com-parison and analysis of FarEasTone and TaiwanMoble of the same period to access the consolidate performance. The empirical results show that, as balanced scorecards indicate, from the finan-cial perspective, the decreasing market share of FarEasTone is due from increasing market share of Chunghwa Telecom, while on the other three perspectives the consoli-date performances of merger of FarEasTone and KG Telecommunications are better than the performances of merger of TaiwanMoble and TransAsia Telecommunication, that is, the synergy of FarEasTone is getter than that of
TaiwanMoble
Keywords : balance scorecard ; merger ; acquisition
Table of Contents
中文摘要 ..................... iii 英文摘要 .....................
iv 誌謝辭 ..................... v 內容目錄 ....................
. vi 表目錄 ..................... vii 圖目錄 ..................
... viii 第一章 緒論................... 1 第一節 研究背景與動機.......
..... 1 第二節 研究目的............... 3 第三節 研究流程.........
...... 4 第二章 文獻探討................. 6 第一節 購併..........
....... 6 第二節 平衡計分卡的定義........... 18 第三節 財務報表分析....
......... 25 第三章 研究方法................. 38 第一節 研究對象....
........... 38 第二節 平衡計分卡之研究變數......... 40 第三節 研究架構..
............. 42 第四章 實證結果與分析.............. 43 第一節 財務構面
............... 44 第二節 顧客構面............... 49 第三節 內部 流程構面............. 53 第四節 學習與成長構面............ 55 第五章 結論 及建議................ 58 參考文獻 ..................... 60
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