多角化對電子業公司績效之影響

The Association between Diversification and Firm Performance in the Electronics Industry

李雅玫(Ya-Mei Lee)

指導教授 ： 陳玉麟

中原大學/商學院/會計研究所/碩士(2008年)

https://doi.org/10.6840/cycu200800335

摘要

多角化與公司績效的關係一直是學者重視的議題，但至今仍未獲得一致的結果。過去大部分文獻僅以同期多角化和資源相關性的觀點探討多角化對公司績效的影響，並未考慮技術與產品的資源結合和跨期多角化的觀點。

本研究同時考量同期多角化與跨期多角化的觀點，檢視技術多角化與產品多角化交互作用對公司績效的影響。本研究以1997年至2006年台灣上市電子業做為研究樣本，並使用層級迴歸分析法進行研究假說的驗證。

同期多角化的實證結果顯示：同期產品相關多角化與同期技術相關多角化的交互作用對公司會計績效有正向影響。此外，同期產品非相關多角化與同期技術非相關多角化的交互作用對公司會計績效也有正向的影響。最後，跨期多角化方面的實證結果發現：跨期產品相關多角化與跨期技術相關多角化的交互作用與公司的會計績效與市場基礎績效都有正向的影響。

關鍵字

跨期多角化策略 ； 同期多角化策略 ； 綜效 ； 公司績效

並列摘要

The relationship between diversification and corporation performance has been an important issue in academia, but no consensus has been made. Most of prior studies have focused on intra-temporal diversification and overlooked the resource combination between technology and product and inter-temporal diversification.

This study examined how the interactions between technological diversification and product diversification affect company performance from both intra-temporal and inter-temporal diversification points of view. For verifying the research hypotheses, this study utilized the electronic industry in Taiwan from the period during 1997 to 2006 as research sample and conducted the hierarchical regression analysis.

The empirical results of intra-temporal diversification show that the interactions between related product diversification and related technological diversification have the positive relationships with accounting-based performance. Besides, the interactions between unrelated product diversification and unrelated technological diversification have the positive impacts on accounting-based performance. Last, the findings provide evidence of inter-temporal diversification. Both superior accounting-based performance and market-based performance result from interactions between related product diversification and related technological diversification, if companies combine entry with exit both related product market and technology area.

並列關鍵字

inter-temporal diversification ； intra-temporal diversification ； performance ； synergy

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