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| 題名: | 策略聯盟對公司價值之影響 ──以台灣生技產業為例
Impact of strategic alliances on firm value: evidence from Taiwan’s biotechnology industry |
| 作者: | 莊若晨
Chuang, Ruo-Chen |
| 貢獻者: | 吳啟銘
Wu, Chi-Ming
莊若晨
Chuang, Ruo-Chen |
| 關鍵詞: | 生技產業
策略聯盟
公司價值
Biotechnology industry
Strategic alliances
Firm value |
| 日期: | 2018 |
| 上傳時間: | 2018-07-03 17:24:36 (UTC+8) |
| 摘要: | 近年來隨著歐美國家經濟成長衰退以及中國大陸崛起，以往臺灣科技產業
的競爭優勢正逐漸被紅色供應鏈蠶食鯨吞。面對即將來臨的挑戰，臺灣勢必要尋找下一個具備技術優勢，無法輕易被取代的產業方能在這波改變的浪潮中成功生存。而作為政府重點培植對象的生技產業，其高度技術密集及高附加價值的特性也讓越來越多臺灣公司選擇投入相關產業。然而受限自身規模，對於需要大量資金投入研發的生技產業來說，資源的缺乏與市場的不足往往是臺灣生技公司無可避免的挑戰。正因如此，能夠幫助企業利用更低的成本取得更多資源與獨特技術的策略聯盟開始逐漸受到臺灣生技產業的重視，因此本研究以生技產業中的策略聯盟為題，探討究竟策略聯盟是否能真正為公司創造價值，提升其產業競爭力。
本研究採用 OLS 回歸模型與固定效果模型以檢驗策略聯盟對公司價值之影響。實證結果發現，因不同類型的策略聯盟對不同類型的公司會產生不同的效果，若單純增加策略聯盟的個數並不會對公司的價值有所貢獻。對非研發型公司來說，選擇研發型聯盟以得到垂直整合效果的作法將比進行非研發型聯盟帶來更多的競爭優勢，進而提高企業的公司價值，提升在整體產業中的排名。
With the economic recession of United State and Europe and the development of Mainland China, the competitive advantage of Taiwan’s technology industry has vanished gradually. Facing the challenge around the corner, it is necessary for Taiwan to look for another industry that has technical threshold and cannot be replaced easily if we want to survive successfully the wave of change. Biotechnology industry, as the emphasis of the government, is highly technology-intensive and highly value-added,
which is the reason why so many companies in Taiwan try to get into this industry. However, for those Taiwanese biotechnology companies which need tremendous resources and capital for product development, the lack of resources and market is an inevitable problems due to their small size. Consequently, strategic alliances have got more and more emphasis since it could help companies get more resources and unique skills with less cost. Therefore, this essay will focus on the strategic alliances of Taiwan’s biotechnology industry and whether strategic alliances could really help to create value and improve the competitiveness of companies. In this study, we use OLS regression model and fixed effect model to look into the
effect of strategic alliances on firms’ value. We discover that, since different kind of strategic alliances will have different effect on different type of companies, increasing
the amount of strategic alliances will not create value for companies. For companies whose core capability is sales and production, choosing strategic alliances which can help you gain the ability of innovation will enhance their competitive advantage and improve their rank in the industry. |
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| 描述: | 碩士
國立政治大學
財務管理學系
105357009 |
| 資料來源: | http://thesis.lib.nccu.edu.tw/record/#G0105357009 |
| 資料類型: | thesis |
| DOI: | 10.6814/THE.NCCU.Finance.010.2018.F07 |
| 顯示於類別: | [財務管理學系] 學位論文
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