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  • 學位論文

企業進行跨國併購之文化差異調和研究─以F集團為例

A Study on Harmonization of Cultural Differences between Enterprises and Cross–Border Mergers and Acquisitions: The Case of F Group

指導教授 : 施顏祥
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摘要


近年來我國企業面臨成長與轉型之需求,區域間鄰近國家市場競爭日益強烈,出現淘汰循環之現象,若單純靠內部有機成長,恐加速邊緣化的危機,因此透過海外併購以拓展市場與獲利,尋求新成長動能,實乃臺灣企業必然之方向。 我國工具機業發展迄今已超過60年,已成為國際分工體系與產業全球化布局之重要夥伴,於全球市場中的不可取代性逐漸加重,於此同時,也面臨更然而複雜的國際競爭。 其中,不同於臺灣多數的工具機業者以家族產業傳承、耕耘單一工具機品牌,F集團雖然也屬中小企業,但積極透過「併購」讓企業快速成長,是我國工具機廠中唯一在海外設廠投產的企業,其海外營運企業家數、營收規模甚至達整體營收的百分之八十。 被稱為「臺灣併購大王」的F集團總裁曾道:「得天下易,治天下難。」將公司喻為「天下」,「治」指的就是「管理」;而管理「最大的挑戰就在文化」。本研究有感當前我國有關企業併購的研究中,多數著重探討其財務、稅務以及法律等面向之議題,關於併購後「文化調和」的部分著墨較少,然此看似無形之元素,卻往往成為併購成敗的關鍵。 因此,本文以F集團為主要個案研究案例,除從中汲取其跨國併購之寶貴經驗,針對當中文化差異調和的部分進行分析,提供我國欲透過跨國併購拓闢疆土的企業參考,為臺灣在面對全球化趨勢所帶來的挑戰中,提供具體的建議,縮短磨合及過渡時程,以發揮併購綜效,亦盼我國政府更加積極鼓勵企業進行跨國併購。

關鍵字

併購

並列摘要


Machine Tool Industry in Taiwan has been developed more than 60 years and played a significant role in the world. However, Taiwan enterprises are faced with the urgent demand of growth and transformation since the competitions between neighboring countries are getting fiercer in recent years. M&A (“Mergers and Acquisitions”) should be a primary way to expand the oversea market for the enterprises according to the worldwide trend. Most of machine tool enterprises in Taiwan have been inherited or taken over by family members and hardly scale up. F Group broadens its business territory rapidly through M&A instead. It is the only Taiwan machine tool enterprise that owns factories in many other countries. The revenue from oversea has reached 80 percent among the total yearly profits of F Group. Regarding M&A, “Management is the most difficult part,” said by F Group Founder. “And culture is the key point to management." At the same time, most of researches about M&A focus on financial, tax and legal issues. There is still lack of enough attention on “Cultural Reconciliation”, which is extremely crucial. The purpose of this study was to analyze cultural reconciliation experiences in cross-border M&A cases of F group, and then to provide enterprises specific recommendations to shorten the run-in and transition time of synergies while working on M&A. Another aim was to offer concrete advises to our government so that companies attempting to develop oversea M&A can get more supports from the government.

並列關鍵字

Mergers and acquisitions

參考文獻


參考文獻
1. 吳申元、王曉博 (2001) 「從後發優勢實現看我國轉型期的制度戰略選擇」,世界經濟文匯
2. 吳慧玲 (2007) 「全球化下影響企業跨國併購成敗的文化因素─以Yahoo!併購Kimo與Ben Q併購Siemens之個案比較研究為例」,銘傳大學國際事務研究所碩士論文
3. 林婷鈴 (2000) 「銀行業國際化併購整合性觀念模式之探討」,中華管理評論
4. 資誠聯合會計師事務所、普華國際財務顧問股份有限公司 (2016)「2016台灣併購白皮書─合縱連橫 重塑產業競爭力」

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