在資訊不對稱下臺灣中小企業對中國大陸市場進入模式與經營績效之研究

本研究是以臺灣中小企業為研究對象，在體認中國大陸市場的經營環境、人力資源能力及關係品質維護間都存在著資訊不對稱的現象，希望透過相關理論探討、文獻蒐集與實證比較分析，企盼能得出一個較為契合中國大陸市場特有情境的投資進入模式選擇策略架構，此即為本研究之主要動機與目的。本研究係以波特的五力分析模式，將外在的經營環境因素、內部的能力觀點因素及中國特有關係哲學的三個介面切入，透過五力分析架構導入經營環境、技術資源特性、交易人性因素、交易情境因素、業務運作潛能、核心競爭力及中國關係哲學各個構面因素，探討與經營績效間的各種發展關係。主要的研究結論可歸結如下：1.假若臺灣中小企業在中國大陸市場投資所處的經營環境愈不複雜時，其將較傾向於採取高所有權之進入模式來進行投資。2.臺灣中小企業若基於優異之組織能力及擁有獨特資源，而得以專長於製造研發與創新之技術能力時，通常會採取高所有權控制之進入模式來進行投資。3.在交易過程中，若其為防範投機行為與不佳之交易氣氛發生，臺灣中小企業通常會採取與當地合作夥伴共同經營，並藉此建立及提升相互間的關係品質。因此，臺灣中小企業傾向於採取低所有權控制之進入模式來進行投資。4.當臺灣中小企業與其關係夥伴間的相互關係承諾越多時（即建立良好的關係品質），若其在中國大陸市場投資採取低所有權控制的進入模式時，通常越能產生較高的經營績效。當臺灣中小企業在中國大陸市場越能維持其持續性「關係品質」優勢時，若其採行高所有權控制之進入模式時，通常越能建立起較高的無形績效。5.當臺灣中小企業在中國大陸市場越能維持其持續性「關係品質」優勢時，若其採行高所有權控制之進入模式時，通常越能建立起較高的無形績效。6.當臺灣中小企業進入中國大陸市場投資能建立良好「關係品質」與「經營氣氛」時，不論其採用低所有權控制或高所有權控制之進入模式，都可以減少資訊不對稱而引起之環境風險。

關鍵字

中國大陸市場；經營環境；關係；進入模式；選擇策略

並列摘要

This study takes Taiwanese SMEs as subject and aims at developing an optimal strategy framework for the investment entry mode choice that best addresses and deals with the unique situations of PRC market on the basis of a common phenomenon of asymmetric information found in the operational environments, human resource capacity, and Quanxi quality preservation in PRC market, and through the author's tremendous experiences accumulated during actually putting efforts in investment in PRC markets, for the last ten more years at first, exploring the related theories next, and then conducting literature review and empirical evidence analysis.The study, by using the model of Michael Porter's Five Forces Analysis, begins with analyzing the three major aspects of the target issue in question, namely the external environmental factors for operations, the internal capability view factors, and the unique Quanxi philosophy ever found available merely in PRC. Through Porter's Five Force Analysis model, this study has further explored the developmental relations between the operational performance and the respective factor among a number of dimension factors including the operational environments, technical resource features, the human factors in transaction, the situational factors in transaction, sales operational potentials, and core competing competences, as well as the unique Quanxi philosophy in PRC. At last the conclusions worked out through the study are summarized as the follows:1. In general, the less complicated the operational environment a Taiwanese SME faces while dealing with investment in PRC market, the more likely it adopts a high percentage ownership entry mode.2. In the case a Taiwanese SME finds itself being with edges in technical abilities of manufacturing R&D and innovation on the basis of its exceptional organizing capability and its possession of special resources, it normally adopts a high percentage ownership entry mode.3. During the course of a transaction, should a Taiwanese SME detect an advert atmosphere against transaction or presence of measures preventing speculations, it normally adopts joint venture mode by taking the local business as venture partners for the joint operations and thus also builds up and promotes the Quanxi quality by taking the leverage of joint venture. Under such contextual situation, a Taiwanese SME tends to adopt a low percentage ownership entry mode as risk control in terms of investment.4. In the event that a Taiwanese SME interacts with its Quanxi based partner with more mutual or reciprocal commitments (i.e. shares a well established Quanxi) on the basis of adopting a low percentage ownership entry mode as risk control in PRC market investment, normally it expects a relatively higher operational performance.5. While enjoying the edge of maintaining steady and constant ”Quanxi quality” in PRC market, the more competent a Taiwanese SME becomes to keep this edge, the more likely it will build up high intangible performance when it adopts a high percentage ownership entry mode.6. In the event a Taiwanese SME is competent in building up sound ”Quanxi quality” and ”operational atmosphere” in terms of the investment in PRC market, it will reduce the environmental risks resulted from asymmetric information situation despite of either high or low percentage ownership entry mode it adopts.