私 募 股 權 基 金 併 購 之 分 析

EVALUATION OF PRIVATE EQUITY FUNDS ACQUISITION

林于湲(Yu-Yuan Lin)

指導教授 ： 丘邦翰

元智大學/管理學院/管理研究所/碩士(2008年)

摘要

本論文研製之摘要，近期私募股權基金大舉進軍國內包括金融業、電信業，乃至於高科技業中的半導體、面板、封測業等，尤其是金融業及有線電視業，引發國內各界關注。
本研究將介紹私募股權基金及探討私募股權基金併購時最常使用的籌資方式-融資收購(LBO)之操作模式及其可能衍生問題，並藉由近期個案：以中嘉網路及致伸科技為例，藉以瞭解私募股權基金的運作模式及其可能面臨的風險，使國內對私募股權基金有深入瞭解，並希望能對未來私募股權基金的參與者及後續研究能有所幫助。

關鍵字

私募股權基金

並列摘要

The abstract of this paper is as following:
Recently, the private equity funds invade domestic industries, such as financial Industry, the telecommunications industry, and also hi-tech industries, such as the semiconductor, the panel, and the closure measurement. Especially, the effects to the financial industry and the telecommunications industry attract the public concern.

The research is a study on private equity funds and a discussion on the problems that are likely derived from Leveraged Buyout (LBO), which is commonly used in raising the private equity funds for acquisition.

Two recent cases, such as CNS and Primax will be presented in the paper for better understanding of the business models and the risks of private equity fund.
Hope it may be helpful for future participants and the researchers of private equity funds.

並列關鍵字

PRIVATE EQUITY FUND

參考文獻

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行政院金融監督管理委員會網站，網址：

10. 楊淑后，(2006)，「由私募基金之發展探討創投應如何轉型」，私立元智大

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