家族企業所有權型態與國際涉入程度關係之探討—台灣上市製造業公司之實證分析

The Relationship between Ownership of Family Businesses and International Involvement –Evidence from Taiwan-listed Manufacturing Firms

溫捷穎(Je-In Wen)

指導教授 ： 陳瓊蓉

中原大學/商學院/企業管理學系/碩士(2007年)

https://doi.org/10.6840/cycu200700460

摘要

台灣企業多數屬於家族企業，因此以家族為主體的企業型態對台灣整體經濟發展實扮演了相當重要的角色，而由於台灣是個海島國家，缺乏自然資源的結果使得企業必須進行國際化的策略以求生存。過去文獻(Zahra, 2003; Ferna´ndez and Nieto, 2006)對於家族企業所有權型態對國際涉入程度之影響多為已開發國家之研究，甚少針對已開發國家進行研究，而研究發現不同國家的家族企業所有權型態對於國際涉入程度之影響會有完全不同的結論。故本研究希望從台灣的角度出發探討此一關係，並希望藉由此研究給予台灣家族製造業上市公司對國際化策略有更深入的了解，且做出對企業更適當的國際化決策。
基於前述的研究動機，本研究的焦點為以下幾點：
一、探討家族企業中家族所有權對國際涉入程度的影響。
二、探討家族企業中的外部法人大股東所有權對國際涉入程度的影響。
三、探討家族企業中家族涉入程度對國際涉入程度的影響。
本研究分別以海外投資指數(以海外投資子公司與海外國家數加權計算)與出口強度作為國際涉入程度的衡量指標；以家族持股率代表家族所有權；以外部法人大股東持股率代表外部法人大股東所有權；家族涉入程度則以創立者是否擔任董事長或總經理；家族董事席次比率與家族涉入之世代數目衡量。研究結果發現：1. 家族企業中家族持股率與海外投資指數呈反向關係，而家族持股率非出口強度之決定因素；2. 家族企業的外部法人大股東所有權與海外投資指數及出口強度呈反向關係；3. 創立者是否擔任董事長或總經理與海外投資指數及出口強度均呈正向關係；4. 家族企業中家族董事席次比率與海外投資指數呈反向關係，而家族董事席次比率與出口強度呈不顯著關係。5. 家族涉入之世代數目與海外投資指數呈不顯著關係，而家族涉入之世代數目與出口強度呈反向關係。

關鍵字

外部法人大股東所有權 ； 家族涉入程度 ； 家族所有權 ； 家族企業 ； 國際涉入程度

並列摘要

Most of Taiwan business belong to family-owned business, therefore, a family-oriented enterprise is playing a very important role in Taiwan's overall economic development. Taiwan is an island country, due to lacking of natural resources, enterprises need for international strategy to achieve business survival. This study has found in previous research(Zahra, 2003; Ferna'ndez and Nieto, 2006) that patterns of Family Business Ownership in different countries would have a totally different impact on the conclusions for the degree of International Involvement. This study would like to explore this relationship with Taiwan’s perspective, and hope that with this research would grant manufacturing family listed companies in Taiwan a better understanding of international enterprises and make more appropriate international decision-making.
Based on previous research, this study focused on the following points :
1. Explore the impact of Family Ownership in Family Enterprises to International Involvement.
2. Explore the impact of Ownership of External Corporate Blockholder in Family Enterprises to International Involvement.
3. Explore the impact of the Family Involvement in Family Enterprises to International Involvement.
Of this study took Overseas Investment Index and Export Intensity as measurable indicators of International Involvement. Stock ratio owned by family stands for Family Ownership, stock ratio owned by External Corporate Blockholders stands for External Corporate Blockholder Ownership. The degree of Family Involvement was measured by the ratio of seats of the family directors, founder whether being a chairman or CEO and the number of generations of Family Involvement. The results showed : 1. Stock ratio owned by family in Family Enterprises has a negative relationship with Overseas Investment Index, which showed stock ratio owned by family was not a determining factor to Export Intensity ; 2. Ownership of External Corporate Blockholder in Family Enterprises had a inverse relationship with the Overseas Investment Index, so was the relationship between Ownership of External Corporate Blockholder in Family Enterprises and the Export Intensity ; 3. Enterprise founder serves chairman or CEO had a positive relation with Overseas Investment Index and Export Intensity ; 4. The ratio of seats of family directors in Family Enterprises showed a negative relationship with Overseas Investment Index, and the ratio of seats of family directors was not statistically significant with the Export Intensity. 5. The number of generations of Family Involvement showed no significant relationship with Overseas Investment Index, and the number of generations of Family Involvement showed a negative relationship with the Export Intensity.

並列關鍵字

Ownership of External Corporate Blockholder ； Family Enterprises ； Family Involvement ； Family Ownership ； International Involvement

參考文獻

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