轉投資事業重構與公司績效之關係研討 – 公司能力與股權結構之調和效果

The relationship between investment business reconfiguration and firm performance – The moderating roles of capabilities and ownership

謝家軒(Jia-Shiuan Hsieh)

指導教授 ： 陳忠仁

國立臺灣大學/管理學院/商學研究所/碩士(2018年)

https://doi.org/10.6342/NTU201803193

摘要

在快速變動的環境之中，廠商們必須不斷調整策略因應變化。動態能力學者將事業體、投資單位、合作對象的增減及調整稱為「重構」。然而，過去重構相關研究指出對績效正向負向並存的效果，並且多數研究背景為已發展國家。因此，本研究主要探討轉投資事業重構與公司績效的關係，並加上公司能力、資源以及股權結構等調和變數。選取在上海及深圳上市的323間公司作為樣本，從台灣經濟新報TEJ次級資料所提供次級資料進行分析。研究結果顯示，轉投資事業重構與公司績效呈現U型關係。另外公司內部資源與股權結構在此關係中扮演調節的角色。

關鍵字

轉投資 ； 重構 ； 動態能力

並列摘要

In rapidly changing environments, firms have to reconfigure to keep align to changes. However, the effect of reconfiguration is mixed and focused on developed economies. Thus, this study examines the effects of the investment business reconfiguration, firm capability, slack resource, ownership structure and firm performance. Secondary data of the 323 firms listed in the Shanghai and Shenzhen Stock Exchanges collected from TEJ database was used to test the hypothesis.

From the research results, the relationship between investment business reconfiguration and firm performance is U-shaped. This paper suggests dynamic capability can provide explanations on the relationship between the investment business reconfiguration and firm performance. In addition, the slack resource and ownership structure play a moderating role in the relationship of investment business reconfiguration and firm performance.

並列關鍵字

Investment Business ； Reconfiguration ； Dynamic Capability

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