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    题名: 企業合併策略之研究—以 GO-JEK 和 Tokopedia 的合併為例
    A Study on Corporate Merger Strategy: The Case of Merger between GO-JEK and Tokopedia
    作者: 張少謙
    Chang, Shao-Chien
    贡献者: 謝凱宇
    Hsieh, Kai-Yu
    張少謙
    Chang, Shao-Chien
    关键词: 合併
    個案分析
    GO-JEK
    Tokopedia
    GoTo
    Merger & Acquisition
    Case Study
    GO-JEK
    Tokopedia
    GoTo
    日期: 2022
    上传时间: 2022-08-01 18:56:54 (UTC+8)
    摘要: 併購一直被企業視為快速成長的一種手段。藉由併購，企業能取得新技術、用戶或產品，提升既有市場占有率，又或是進入新市場。
    本研究探討GO-JEK和Tokopedia的合併案例。合併前，這兩間公司都為印尼數一數二的獨角獸，前者以超級App為核心、後者則是本土最大的電商。此次的合併為印尼歷史上最大的併購案，並且得到政府的支持，故格外受到外界關注。
    本研究發現，合併前的兩間公司皆具備平台性質，故合併後的GoTo將能享有更強的網路效應。對於賣方來說，可以藉此接觸到更多的潛在買家；對於買方而言，能享受更多元的服務；至於對於平台本身來說，則是能夠得到更多的數據以分析消費者行為。平台中的金融服務作為獨立事業體可以進一步強化買賣方金流的串接，並創造有別於傳統金融機構的授信和貸款機制。
    然而，個案公司雖能夠提供多元的服務，但其與競爭者之間並沒有明顯差異化，且由於平台轉移成本低，用戶忠誠度並不高。因此，未來必須持續觀察個案公司相對於同業的活躍用戶數變化以及獲利情形，以判斷其是否能夠持續茁壯。
    Mergers and acquisitions have always been regarded as a means of rapid growth by companies. Through mergers and acquisitions, companies can acquire new technologies, users, or products, and increase their market share, or enter new markets.
    This study examines the case of the merger of GO-JEK and Tokopedia. Before the merger, both parties were top unicorns in Indonesia, with the former centering on a super app and the latter being the largest local e-commerce company. Since this merger was the largest one in Indonesia’s history and was supported by the government, it has received widespread attention.
    The study found that since the two companies were both platform-based before their merger, the combined company GoTo could benefit from a stronger network effect. For sellers, they can reach more potential buyers; for buyers, they can enjoy more diversified services; for the platform itself, it can obtain more data to analyze consumer behavior. The financial services in the platform as an independent business can further strengthen the financial flows between buyers and sellers, creating a credit and loan mechanism different from that of traditional financial institutions.
    However, although the case company can provide a variety of services, it is not clearly differentiated from its competitors, and user loyalty is limited due to low platform switching cost. Therefore, the changes in the number of active users and profitability of the case company relative to its peers would need to be continuously monitored to determine whether the company can continue to thrive.
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    描述: 碩士
    國立政治大學
    企業管理研究所(MBA學位學程)
    108363007
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0108363007
    数据类型: thesis
    DOI: 10.6814/NCCU202200854
    显示于类别:[企業管理研究所（MBA學位學程）] 學位論文

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