| 摘要: | 在全球電子產業快速發展的背景下，連接器產業扮演著重要角色。連接器廣泛應用於消費電子、工業控制、醫療、航太、通訊和雲端計算等領域。台灣的連接器產業在技術升級和產品創新方面也取得了顯著進展，面對全球的挑戰，以併購策略增強競爭力和市場地位。
本研究個案A公司是一家專注於連接器及相關電子零組件的公司，近年來通過一系列的併購，進一步擴展其市場影響力和技術能力。主要併購案例包括：2016年併購M公司，取得線束製程能力、2017年併購C公司，快速歐洲通路、2019年併購K公司，拓展產品多樣性、2020年併購美國G公司，提升高頻連接器的研發能力，進一步推進產品模組化和國際市場擴展。
這些併購策略涵蓋了水平整合和中心式併購，不僅強化了個案的技術和市場地位，還增強了其在不同領域的產品競爭力。併購後，A公司的Tobin’s Q值顯示出積極的變化，尤其是在併購年度中，Q值通常高於未進行併購的年度，反映出市場對併購策略的正面評價。然而，併購後的整合挑戰依然存在，包括組織文化、資源配置和業務整合等方面的問題。
此摘要涵蓋了連接器產業的背景、個案的併購動機、策略、方法以及併購後對企業競爭力的影響，並以Tobin’s Q值作為主要分析指標，展示了併購的效果和挑戰。
;The global electronics industry relies heavily on connectors, crucial in consumer electronics, industrial, medical devices, aerospace, communications, and cloud computing. Taiwan′s connector industry has advanced technologically and innovatively. To tackle global challenges, companies are using mergers and acquisitions (M&A) to boost competitiveness.
Using Company A, a connector specialist, as a case study, we can observe how Company A has grown its market influence and technological prowess through strategic acquisitions. These acquisitions include Company M (2016) for wire harness processing, Company C (2017) for European distribution, Company K (2019) for product diversification, and Company G (2020) for high-frequency connector R&D and product modularization.
Company A′s M&A strategies, involving horizontal integration and congeneric mergers, have enhanced its technical capabilities and market share. Post-acquisition, Company A′s Tobin’s Q ratio often surpassed that of non-acquisition years, reflecting market approval of its M&A strategies. Nevertheless, post-merger integration poses challenges, such as organizational culture, resource allocation, and business integration.
This abstract summarizes the background of the connector industry, Company A′s M&A strategies, and their impact on the company′s competitiveness, using Tobin’s Q as a key analysis indicator. |
