集團企業合資子公司之持續投資：國際化與多角化的影響 鍾興岳、黃怡芬
E-mail: 360569@mail.dyu.edu.tw
摘 要
本研究探討集團企業的國際化與多角化在不同程度的狀況下，對於合資子公司持續投資的決策下是否會有不同的影響，並 以母集團績效為干擾變數，探討當績效程度不同時，是否會加強集團企業的國際化、多角化對持續投資的影響。 本研究是 以中華徵信所2009年集團企業156家集團企業為樣本資料，子公司家數為228間；研究期間為2006到2011年共6年。本研究 證實集團企業國際化程度以及多角化程度越高，對於合資子公司持續投資的影響越大。並且，母集團績效是會對於集團企 業多角化化程度有所影響。但是母集團績效對於集團企業國際化程度的影響程度不大。
關鍵詞 : 集團企業、持續投資、國際化、多角化、績效
目錄
簽名頁 中文摘要 ．．．．．．．．．．．．．．．．．．．．． iii 英文摘要 ．．．．．．．．．．．．．．．．．．．
．． iv 致謝辭 ．．．．．．．．．．．．．．．．．．．．． v 內容目錄 ．．．．．．．．．．．．．．．．．．．
．． vii 表目錄 ．．．．．．．．．．．．．．．．．．．．． ix 圖目錄 ．．．．．．．．．．．．．．．．．
．．．． x 第一章 緒論．．．．．．．．．．．．．．．．．．． 1 第一節 研究背景與動機．．．．．．．
．．．．． 1 第二節 研究目的．．．．．．．．．．．．．．． 2 第三節 研究流程．．．．．．．．．
．．．．．． 3 第二章 文獻探討．．．．．．．．．．．．．．．．． 4 第一節 集團企業相關研究．．．．
．．．．．．． 4 第二節 企業成長：多角化與國際化．．．．．．． 12 第三節 合資．．．．．．．．
．．．．．．．．． 22 第四節 持續投資．．．．．．．．．．．．．．． 24 第五節 績效．．．．．．．．．．．．
．．．．． 25 第三章 研究方法．．．．．．．．．．．．．．．．． 28 第一節 研究架構與假設．．．．．
．．．．．．． 28 第二節 資料分析方法．．．．．．．．．．．．． 29 第三節 樣本蒐集．．．．．．
．．．．．．．．． 29 第四節 變數與操作性定義．．．．．．．．．．． 30 第四章 實證結果分析．．．．．．
．．．．．．．．． 32 第一節 樣本基本統計分析．．．．．．．．．．． 32 第二節 變數間相關係數分析．．．．．．
．．．． 33 第三節 階層回歸分析．．．．．．．．．．．．． 35 第五章 結論與建議．．．．．．．．．．．．．．．
． 36 第一節 結論．．．．．．．．．．．．．．．．． 36 第二節 研究範圍與限制．．．．．．．．．．．． 37 第三節 後續研究方向．．．．．．．．．．．．． 37 參考文獻 ．．．．．．．．．．．．．．．．．．．．． 38 表目錄 表 2-1 亞洲學者對於集團企業之定義表．．．．．．．．． 4 表 2-2 國外學者對於集團企業之定義表．．．．．．．．． 6 表 2-3 集團企業相關研究表．．．．．．．．．．．．．． 9 表 2-4 多角化定義之整理表．．．．．．．．．．．．．．
14 表 4-1 敘述性統計．．．．．．．．．．．．．．．．．． 32 表 4-2 變數間的相關係數分析．．．．．．．．．．．
．． 33 表 4-3 線性回歸分析．．．．．．．．．．．．．．．．． 35 圖目錄 圖 1-1 本研究之研究流程．．．．．．．．
．．．．．．． 3 圖 2-1 Ansoff產品-市場擴張矩陣圖．．．．．．．．．．． 13 圖 2-2 Ansoff多角化策略圖．．．．．．
．．．．．．．．．13 圖 3-1 本研究架構．．．．．．．．．．．．．．．．．． 28 參考文獻
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