家族企業與金融危機對國際化績效的影響

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姓名

羅喬茵(Chiao-yin Lo) 查詢紙本館藏

畢業系所

企業管理學系

論文名稱

家族企業與金融危機對國際化績效的影響
(The Impact of Family Firm and Financial Crisis onPerformance Attributable to International Diversification)

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摘要(中)

本研究探討家族企業與非家族企業國際化績效的比較，並加入經濟穩定度做測試。主要由代理理論的觀點探討國際多角化的動機，以及企業所面臨的代理成本對於國際化程度與國際化績效的影響。家族企業的利益一致效果大於權力鞏固效果則家族企業國際化績效比非家族企業好，反之若家族企業的權力鞏固效果大於利益一致效果，則非家族企業國際化績效比家族企業好。我們研究結果顯示金融危機期間非家族企業因國際化而企業績效下降的幅度比家族企業更大。實證結果顯示無論經濟穩定期或是金融危機期，家族企業的國際化績效皆比非家族企業好。

摘要(英)

This study investigates the comparative of family firm and nonfamily firm’s performance attributable to international diversification in Taiwan, and added economic factors to test our research. We use agency theory to investigate the motivation of international diversification and the impact of firm’s agency problem on the extent of firm diversification and the performance attributable to diversification. If family firm’s alignment effect dominate entrenchment effect, family firm’s performance attributable to diversification will better than nonfamily firm. On the contrary, If family firm’s entrenchment effect dominate to alignment effect , nonfamily firm’s performance attributable to diversification will better than family firm. The empirical results in our research show that family firm’s performance attributable to diversification is better than nonfamily firm.

關鍵字(中)

★ 國際多角化
★ 家族企業
★ 權力鞏固效果
★ 國際化績效
★ 利益一致效果

關鍵字(英)

★ alignment effect
★ entrenchment effect
★ Family firm
★ international diversification

論文目次

中文提要 ………………………………………………………… i
英文提要 ………………………………………………………… ii
誌謝 ………………………………………………………… iii
目錄 ………………………………………………………… iv
圖目錄 ………………………………………………………… v
表目錄 ………………………………………………………… vi
符號目錄 ………………………………………………………… vii
一、緒論…………………………………………………… 1
二、文獻背景……………………………………………… 4
2-1 家族企業與代理問題………………………………… 4
2-2 國際多角化與績效…………………………………… 6
2-3 經濟衝擊與國際化績效……………………………… 9
2-4 國際多角化與代理問題……………………………… 9
三、假說發展……………………………………………… 12
3-1 經濟穩定期的國際化績效…………………………… 12
3-2 金融危機期的國際化績效…………………………… 13
四、研究設計……………………………………………… 15
4-1 研究期間與資料來源………………………………… 15
4-2 實證模式與變數定義………………………………… 18
4-2-1 重要變數衡量…………………………………………. 18
4-2-2 實證模式………………………………………………. 19
五、實證結果分析………………………………………… 22
5-1 敘述統計與相關係數………………………………… 22
5-2 迴歸分析結果………………………………………… 29
5-2-1 經濟穩定期家族企業對國際化績效的影響………… 29
5-2-2 金融危機期家族企業對國際化績效的影響………… 32
六、額外分析…………………………………………… 35
七、結論…………………………………………………… 37
參考文獻 ………………………………………………………… 39

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指導教授

曹壽民(Shou-min Tsao)

審核日期

2012-6-29

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