导　　师： 熊剑

学科专业： 120201

授予学位： 硕士

作　　者： ;

机构地区： 暨南大学

摘　　要： 本文采用实例分析和理论研究相结合之方法，针对台积电三合一的合并动机、目的和结果，探讨高科企业合并的可行性，合并时应注意的问题，并提出比合并更为完善的方式，以便成就企业竞争力。因为科技是全球化的活动，而中国入世承诺2005年把信息产品关税降为零，中国半导体产业是政府极力扶持的高科产业，预计将成为全球半导体的重镇。又根据相关的论述显示2005年中国半导体产能过剩，将面临合并命运，藉由本个案研究提供一定程度的借鉴作用。本文从全球宏观视野到产业微观角度，研究高科企业合并时，应同时评估全球经济荣枯状况、该高科产业的长期趋势和景气循环的高低期，充分掌握知识经济时代下的环境快速变迁。 本文研究结果认为高科企业合并在合并理论的论点里是不存在的，却印证了傲慢假说和代理理论。因此作者提醒高科企业不应陷入「生产规模是最后胜利」的迷思，应该在「研发和创新」领域上深耕，并以「市场和客户为导向」，寻求策略联盟以代替合并，以达到技术上、管理上和产品上的创新，创造终端客户的新需求，让现有设备产能充分发挥，而不是以争市占率而制造廉价产品为已足。是以本文认为，高新科技企业不宜合并，而应走「策略联盟」之道；即便要选择合并也应斟酌合并的时机，以免买贵了设备产能；至于大陆当局更应该把握中国市场的宽广，以「市场换技术」策略，激发人才走上创新之路。 This paper investigated the possibility and potential problems of high-tech enterprises' merger according to the motivation, objective and result of the TSMC's 3-in-1 merger through example analysis and literature review to optimize the process of merger and enhance corporate competitiveness. As technology is a global activity and China has promised to remove tariffs on information products in 2005 after entering the WTO, the semiconductor industry has become one of the focused high-tech industries of the Chinese government, the China will become the global center of the industry. Since information indicated that the capacity of the semiconductor industry in China will be higher than the demand in 2005 and merger will become a natural consequence, suggestions for merger were proposed in this paper. This paper also discovered that high-tech enterprises should evaluate the global economic condition, long-term developing trend and prosperity cycle of the industry during mergers, in order to capture the rapid ch anges in the economic-based economy. Results indicated that merger among high-tech enterprises does not exist in any merger theory, though it proves the pride hypothesis and agency theory. Therefore, instead of producing cheap products to struggle for market share, entrepreneurs should avoid the misconception that 'production scale is the final victory' but focus on 'R/&D and innovation' and replace merger with strategic alliance according to 'customer and market orientations', in order to innovate technology, management and products; create new market demands; and display the capacity of existing equipments. Hence, instead of merger, strategic alliance is more suitable for high-tech enterprises. Even if merger is unavoidable, timing is the important key to prevent capacity waste, Chinese authority should take the advantage of the extensive market in China and adopt the 'trade technology with market' strategy to encourage innovation in China.

关 键 词： 高新科技企业 合并 个案研究 策略联盟 启示

领　　域： [经济管理] [经济管理]