Merger of a parent company and its subsidiary and its specificity compared to the general regulation of mergers The topic of this diploma thesis are the mergers between parent companies and subsidiaries. In my view, this is a very relevant topic nowadays which can be often faced in practice. The aim of this thesis is above all to describe the differences between this type of mergers and the other types (it is not my aim to describe the whole process of mergers between parent companies and subisdiaries step by step as a large part of regulation of this process is similar to the general merger process regulation). This thesis is divided into eight main chapters. In the first chapter current regulation and its historical development are outlined. The aim of the second chapter is to compare the incentives which lead to mergers between parent companies and subsidiaries and the incentives which lead to the other mergers. Of course, both partly overlap. However, there exist some differences, which are described in this chapter. Chapter three deals with the mergers between parent and subsidiary joint stock companies. To a large extent it consists of the analysis of the simplified approval process of such merger, which is included in the Czech legislature. Furthermore it includes the analysis of the share...

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No. of bitstreams: 1 rachel_chang_vrevisada.pdf: 1950619 bytes, checksum: 4bc508abe541c6864ab36cc62bbfde90 (MD5) Previous issue date: 2017-12-12 / Internationalization speed of multinational enterprises through foreign subsidiaries is a relevant topic on the international management literature. Its definition, however, presents conceptual differences. Some authors conceptualize internationalization speed with a onedimensional perspective, considering the difference between the year of the multinational's first performance abroad and its year of foundation. Others add to this view the subsequent entries after the first internationalization in a particular country or region. The question of how to measure the internationalization speed also does not present a consensus among different authors, as it can be related to new subsidiaries (commitment speed) and to the countries abroad (dispersion speed). Moreover, extrinsic and intrinsic aspects related to subsidiaries can influence the pace of their international expansion. This study aims to analyze the influence of institutional distances, dismembered on its regulatory, normative and cultural-cognitive pillars and experiential knowledge, subdivided into regional and global experience, into the speed of commitment and dispersion of multinational enterprises through foreign subsidiaries. For this purpose, a secondary base was used with 492 operations within electronics industries established in 46 countries. The hypotheses raised were analyzed with the use of correlations and multiple linear regressions. The results presented suggest three contributions to the academic literature. First, it is important to differentiate the speed of internationalization in terms of commitment and dispersion. Secondly, it is observed that the experiential knowledge positively moderates the relation between commitment and dispersion speed and the institutional distance. Finally, high regulatory and normative distances can be positive for the commitment speed through subsidiaries when the multinational enterprise has little international experience. Thus, this study suggests that other aspects can positively contribute to stimulate international expansion and, therefore, opens up opportunities for future contributions to the theme of internationalization speed. / A velocidade de internacionalização de empresas multinacionais por meio de subsidiárias no exterior constitui um relevante tópico na literatura de gestão internacional. Sua definição, entretanto, apresenta diferenças conceituais. Há autores que abordam a velocidade de internacionalização sob uma perspectiva unidimensional, considerando a diferença entre o ano da primeira atuação no exterior com o estabelecimento da subsidiária no país anfitrião e o ano de fundação da multinacional. Outros acrescentam a essa visão as entradas subsequentes à primeira internacionalização em um determinado país ou em uma região. A questão de como mensurar a velocidade de internacionalização também não apresenta um consenso entre os autores, podendo se relacionar às novas subsidiárias (velocidade de comprometimento) e aos países para atuação no exterior (velocidade de dispersão). Adicionalmente, aspectos extrínsecos e intrínsecos às subsidiárias podem influenciar o ritmo de sua expansão internacional. Este estudo objetiva analisar a influência das distâncias institucionais, desmembrada em seus pilares regulatório, normativo e cultural-cognitivo e o conhecimento experiencial, subdivido em experiência regional e global, na velocidade de comprometimento e de dispersão de multinacionais por meio de subsidiárias estrangeiras. Para isso, utilizou-se uma base secundária de empresas com 492 operações do setor eletroeletrônico, estabelecidas em 46 países. As hipóteses levantadas foram analisadas com o uso de correlações e regressões lineares múltiplas. Os resultados apresentados sugerem três contribuições à literatura acadêmica. Primeiramente, é importante diferenciar a velocidade de internacionalização no que tange o comprometimento e a dispersão. Em segundo lugar, observa-se que o conhecimento experiencial modera de forma positiva a relação da velocidade de comprometimento e de dispersão com a distância institucional. Finalmente, uma alta distância regulatória e normativa pode ser positiva para a velocidade de comprometimento por meio de subsidiárias quando a multinacional possui pouca experiência internacional. Dessa forma, o estudo apresenta indícios de que outros aspectos podem contribuir positivamente para estimular a expansão internacional e, portanto, abre oportunidade para futuras contribuições ao tema velocidade de internacionalização.

Made available in DSpace on 2015-12-03T18:35:27Z (GMT). No. of bitstreams: 1 Edna_Yayoi_Hirakawa_Goto.pdf: 1328958 bytes, checksum: c06d679ea677ec5c4c70093c003e5a41 (MD5) Previous issue date: 2013-08-31 / The contingency approach states that something is true only under specific conditions . The Controllership acts to measure, control and integrate efforts to ensure optimization of the economic result at organizations. This research aimed to outline the characteristics of contingency factors: size, strategy, technology, structure and environment present in subsidiaries of a multinational organization. We sought to identify how these aspects influenced the Controllership area in different organizational contexts in terms of activities, functions, organizational structure and informational support . Therefore we carried out a descriptive study with a qualitative approach. Data were collected through semi-structured interview and structured questionnair in the American and Mexican subsidiaries of a multinational company based in Germany. Regarding to the size of the subsidiaries there were found positive associations with the subordination of the controller and the number of employees connected to the Controllership department , but there were no significant differences in the functions and activities in the Controllership area, and in both subsidiaries were not observed segregation between the functions of the Controllership and Treasury. Concerning strategy, it was identified differences between the subsidiaries, since the Mexican presented as prospective and American as analyzer, this variable determined the influence of the Controllership in terms of supporting informational to the business management, but no impact on the organizational structure. Regarding technology, it was observed that the American subsidiary values information technology, fator that provides the standardization of processes, contributing to operational management and risks of the Controllership. On the structure issue, it is emphasized that, as the degree of authority in relation to strategic decisions, both has limitations due to the centralization driven from the headquarters, however , it was found that the American subsidiary tends towards to a mechanistic nature , there are more division of work and authority reinforced, whereas the Mexican has mainly organic character traits: more decentralized, and with greater autonomy, this difference impacts the Controllership in terms of informational support . Finally, with regard to the environment, it was found that, compared with the American Mexican subsidiary operates in the most hostile dynamics environments showing that, in such environments are required control and management systems aimed more for performance and business results. It is concluded that for the specific situation of this study , the role of the divisional Controllership is is partially impacted by a combination of contingent variables and also found the effect of coercive isomorphism in divisional Controllership, minimizing the effect of the contingency variables in divisional Controllership / A abordagem contingencial estabelece que algo ?? verdadeiro somente sob condi????es espec??ficas. A Controladoria atua no sentido de mensurar, controlar e integrar os esfor??os para assegurar a otimiza????o do resultado econ??mico das organiza????es. Esta pesquisa teve como objetivo delinear as caracter??sticas dos fatores contingenciais: tamanho, estrat??gia, tecnologia, estrutura e ambiente presentes nas subsidi??rias de uma organiza????o multinacional. Procurou-se identificar de que modo estes aspectos influenciaram a ??rea de Controladoria nos diferentes contextos organizacionais em termos de atividades, fun????es, suporte informacional e estrutura organizacional. Para tanto, realizou-se uma pesquisa descritiva com abordagem qualitativa. Os dados foram coletados por meio de entrevista semiestruturada e question??rio estruturado nas subsidi??rias americana e mexicana de uma empresa multinacional sediada na Alemanha. Com rela????o ao tamanho das subsidi??rias houve associa????es positivas quanto ?? subordina????o do controller e o n??mero de colaboradores ligados ?? Controladoria, por??m n??o foram verificadas diferen??as nas fun????es e atividades na ??rea de Controladoria, sendo que em ambas n??o foi observada a segrega????o entre as fun????es de Controladoria e Tesouraria.Quanto a estrat??gia, identificou-se diferen??as entre as subsidi??rias, uma vez que a mexicana apresentou-se como prospectiva e a americana analisadora, vari??vel que determinou influ??ncia quanto ao suporte da Controladoria ?? gest??o do neg??cio, mas sem impactos quanto ?? estrutura organizacional. No que tange ?? tecnologia, observou-se que a subsidi??ria americana valoriza a tecnologia da informa????o, disposi????o que propicia a padroniza????o de processos, contribuindo na gest??o operacional e de riscos da Controladoria. No quesito estrutura, destaca-se que, quanto ao grau de autoridade de ambas em rela????o ??s decis??es estrat??gicas h?? limita????es em fun????o da centraliza????o orientada pela matriz da organiza????o; entretanto, constatou-se que a subsidi??ria americana tende para uma natureza mecanicista, isto ??, com maior divis??o dos trabalhos e autoridade refor??ada; j?? a mexicana possui caracter??sticas de car??ter mormente org??nico: mais descentralizada, e com maior autonomia; tal diferen??a impacta na Controladoria em termos de suporte informacional. Por fim, no que diz respeito ao ambiente, verificou-se que, em compara????o com a americana, a subsidi??ria mexicana atua em ambiente mais hostil e din??mico, evidenciando-se que, em ambientes dessa natureza, s??o necess??rios controles e sistemas gerenciais mais voltados para a performance e resultados dos neg??cios. Conclui-se que, para a situa????o espec??fica deste estudo, a atua????o da Controladoria divisional ?? impactada parcialmente por uma combina????o de vari??veis contingenciais e tamb??m se apurou o efeito do isomorfismo coercitivo na Controladoria divisional, minimizando o efeito das vari??veis contingenciais na Controladoria divisional

Submitted by JOSIANE SANTOS DE OLIVEIRA (josianeso) on 2017-06-28T12:14:54Z No. of bitstreams: 1 Fernanda Cristina de Souza Giusti_.pdf: 1641716 bytes, checksum: 6ba4180184a656e5ba60f0433de5fa69 (MD5) / Made available in DSpace on 2017-06-28T12:14:54Z (GMT). No. of bitstreams: 1 Fernanda Cristina de Souza Giusti_.pdf: 1641716 bytes, checksum: 6ba4180184a656e5ba60f0433de5fa69 (MD5) Previous issue date: 2017-04-27 / Nenhuma / O conhecimento é uma importante fonte de vantagem competitiva e a principal razão para a internacionalização de empresas. Com a intensificação do interesse das empresas multinacionais (EMNs) pelos países em desenvolvimento, evidenciado pelo aumento do Investimento Direto Estrangeiro (IDE) em nações emergentes, as subsidiárias adquiridas aumentam sua importância estratégica na rede da multinacional, pois detém conhecimentos que oportunizam a criação de vantagens competitivas. (ANDERSSON; DELLESTRAND; PEDERSEN, 2014). Contudo, a transferência reversa de conhecimento, cujo fluxo ocorre no sentido da subsidiária para a matriz, ainda apresenta desafios singulares na gestão das EMNs. (FOSS; HUSTED; MICHAILOVA, 2010). No presente estudo buscou-se analisar o processo de transferência reversa de um conhecimento gerado em uma subsidiária brasileira e transferido para a matriz de uma corporação norte americana. Por meio de um estudo de caso único, os dados foram coletados em análise documental, observação in loco e entrevistas com diversos gestores nos Estados Unidos e nas subsidiárias do Brasil e do México. Após, os dados foram triangulados com a técnica de análise de conteúdo. Os resultados indicam a existência de transferência reversa de conhecimento de forma não explícita, corroborando os estudos nesta área. Entretanto, durante o mapeamento dos processos, perceberam-se singularidades no caso estudado, como a motivação e o esforço da subsidiária para ser reconhecida pelo conhecimento gerado e a caracterização de atores envolvidos no processo que não são abordados na literatura. / Knowledge is an important source of competitive advantage and the main reason for the internationalization of companies. With the increasing interest of multinational companies (MNEs) in developing countries, evidenced by the increase in Foreign Direct Investment (FDI) in emerging nations, the acquired subsidiaries increase their strategic importance in the network of the multinational, since it has knowledge that allows the creation of competitive advantages. (ANDERSSON; DELLESTRAND; PEDERSEN, 2014). However, the reverse knowledge transfer, which flows from the subsidiary to the parent company, still presents unique challenges in the management of MNCs. (FOSS; HUSTED; MICHAILOVA, 2010). The present study aimed to analyze the process of reverse transfer of a knowledge generated in a Brazilian subsidiary and transferred to headquarter of a North American corporation. Through a single case study, the data were collected in documentary analysis, in situ observation and interviews with several managers in the United States headquarter and in the Brazilian and Mexican subsidiaries. Afterwards, the data were triangulated with the technique of content analysis. The results indicate the existence of a reverse transfer of knowledge in a non-explicit way, corroborating the studies in this area. However, during the process mapping, singularities were perceived in the case studied, such as the motivation and effort of the subsidiary to be recognized by the knowledge generated and the characterization of actors involved in the process that are not addressed in the literature.

Esta dissertação estuda os mecanismos disponibilizados pelo artigo 264 da Lei das Sociedades Anônimas para proteção adicional dos interesses e dos direitos dos acionistas minoritários na incorporação de companhia controlada. Para tanto, são abordados os dispositivos legais, os posicionamentos doutrinários e as interpretações da jurisprudência administrativa e judicial sobre o assunto no Brasil. O primeiro capítulo do estudo analisa o conceito e a natureza jurídica da incorporação, a substituição de ações e de direitos dos acionistas na operação, o procedimento de incorporação, e a relação de controle existente entre as companhias incorporadora e incorporada. O segundo capítulo analisa a evolução histórica das disposições do artigo 264, partindo do Projeto de Lei que lhe deu origem até o texto do dispositivo atualmente vigente. O terceiro capítulo analisa a proteção adicional oferecida ao acionista minoritário pelo caput do artigo 264, atrelada à relação de substituição de ações adotada na operação. O quarto capítulo analisa a proteção adicional conferida ao acionista minoritário pelo §3º do artigo 264, vinculada ao direito de recesso na operação. Ao final, a conclusão arremata as principais discussões identificadas ao longo do estudo. / This thesis studies the mechanisms provided by Article 264 of the Brazilian Corporations Law for additional protection of the interests and rights of minority shareholders in the merger of a subsidiary corporation into its parent corporation. To this end, we discuss the legal provisions, the legal literature and the interpretations of administrative and judicial case law on the subject in Brazil. The first chapter of the study analyzes the concept and the legal nature of a merger, the substitution of shares and rights of the shareholders in the transaction, the merger procedure, and the control relationship that exists between the parent corporation and its subsidiary. The second chapter analyzes the historical development of the provisions of Article 264, from the bill from which it originated to the text of the provision currently in force. The third chapter analyzes the additional protection granted to minority shareholders by the chapeau of Article 264, regarding the share exchange ratio adopted in the transaction. The fourth chapter analyzes the additional protection afforded to minority shareholders by paragraph 3 of Article 264, relating to the right to withdraw from the transaction. Finally, the conclusion finalizes the main discussions identified throughout the study.

by Tsui Hok Kan, Brian. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1997. / Includes bibliographical references (leaf 53). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF TABLES --- p.v / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Background --- p.1 / Cable & Wireless : A Strategic Perspective --- p.2 / Research Objective --- p.4 / Methodology --- p.8 / Chapter II. --- CABLE & WIRELESS HISTORY --- p.11 / Chapter III. --- RELATIONS BETWEEN ORGANIZATIONAL CHARACTERISTICS AND INDIVIDUAL SUBSIDIARIES --- p.14 / Matrix Classification of Cable & Wireless Group's Subsidiaries --- p.14 / Case Studies : Cross-national Related Strategy --- p.15 / Cable & Wireless Business Networks --- p.16 / Cable & Wireless Mobile --- p.16 / Case Studies : Cross-national Unrelated Strategy --- p.17 / Omnes --- p.18 / Cable & Wireless (Marine) Ltd --- p.19 / PHS International Ltd --- p.20 / Case Studies : National Related Strategy --- p.21 / Hongkong Telecom ´ب --- p.21 / OPTUS --- p.23 / Case Studies : National Unrelated Strategy --- p.24 / Sembawang Cable Depot Pte Ltd --- p.24 / S.B. Submarine Systems Co. Ltd --- p.25 / Chapter IV. --- DISCUSSION --- p.27 / General Organization of Cable & Wireless Activities --- p.27 / General Observations on Relations Between Organizational Characteristics and Strategies --- p.29 / Business Diversification and Geographic Diversification --- p.30 / Concluding Remarks --- p.31 / Chapter APPENDIX 1 - --- QUESTIONNAIRE FOR HONGKONG TELECOM --- p.34 / Chapter APPENDIX 2 - --- SUMMARY OF SURVEY RESULTS --- p.40 / BIBLIOGRAPHY --- p.53 / Books / Periodicals / Annual Reports / Interviews

O presente trabalho apresenta, como tema de pesquisa, a relação entre o Estado e a Educação, procurando demonstrar como o princípio de subsidiariedade aplicado à educação pública corresponde à ação de responsabilidade social do Estado, favorecendo a maior integração e participação das comunidades ou dos movimentos populares e incentivando a cidadania participativa. Como procedimento metodológico foi utilizada a pesquisa bibliográfica e documental complementada por uma reflexão filosófica que procurou identificar a totalidade dos fatores presentes e relevantes na situação estudada. Como resultado foi possível identificar a adoção do princípio de subsidiariedade pelo Estado como uma possibilidade de exercer a responsabilidade social em relação à educação pública. / This work presents, as subject of research, the relation between the State and the Education, trying to demonstrate how the principle of subsidiary function applied to the public education corresponds to the action of social responsibility of the State, favoring a bigger integration and participation of the communities or the popular movements and stimulating the participative citizenship. The bibliographical and documental research was used as the methodological procedure, complemented by a philosophical reflection that tried to identify to the totality of the present and relevant factors in the studied situation. As a result it was possible to identify the adoption of the principle of subsidiary function for the State as a possibility to exert the social responsibility in relation to the public education.

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知識經濟時代的來臨，宣告著掌握知識是關鍵的策略能力，尤其是多國企業的全球競爭優勢建立，其知識和創新的來源及運用均不再侷限於國界之內，故子公司之知識來源成為學術界與實務界相當重視的議題。本研究目的在於發展多國企業子公司知識來源型態分類架構，建立知識來源型態影響因素之理論模型，並進行實證。 本研究提出「知識來源決策階層模式」，認為進行知識取得決策時，管理者的決策思考能力有限的情況下，此一決策應為階層模式。就多國企業子公司而言，知識來源決策第一階層應為「母公司集團」及「非母公司集團」型態二者之考量，其中「非母公司集團」型態下的第二階層則為「自行發展」及「策略聯盟」之決策。此外，每一階層考量的因素並不相同，此模式可以提供管理者更明確的影響因素藍圖，在資訊過多與複雜的情境下，釐清各因素的影響階層，有助管理者的決策思考。 經由文獻探討，從多國企業相關理論、交易成本理論、資源基礎理論與社會網絡概念，探討與知識來源型態的關係，並透過個案訪談分析，建立研究實證架構。本研究提出，子公司知識來源傾向來自「母公司集團」或「非母公司集團」型態之主要影響因素，包括子公司知識環境與知識專屬性，而子公司知識環境與知識來源型態之間的關係，會受到子公司資源因素與母公司組織系絡因素之調節影響。另外，在非母公司集團之知識來源中，子公司因素與知識不確定性會影響子公司傾向採取「自行發展」或「策略聯盟」型態。 假說驗證方面，本研究以製造業之多國企業在台子公司為研究對象，分析單位為知識。經由問卷調查，共計回收234個有效知識樣本。資料分析方法上，同時採用邏吉斯迴歸與一般迴歸二個方法進行分析，強化實證結果之穩健性。結果發現外商在台子公司知識來源型態的特色為：（1）多國企業所有權優勢愈大，愈傾向於母公司集團型態；（2）地主國區位優勢愈大，愈傾向於非母公司集團型態；（3）知識區位專屬性愈高，愈傾向於非母公司集團型態；（4）母公司集權控制程度、子公司高階團隊社會資本會對多國企業所有權優勢、全球策略與地主國區位優勢和子公司知識來源型態間的關係造成影響；（5）子公司資源愈豐富，愈傾向於自行發展型態；（6）知識不確定性愈大，愈傾向於策略聯盟型態。 綜合實證結果，本研究提出之知識來源型態影響因素理論架構，對子公司知識來源型態具有良好的解釋能力。在理論方面，本研究提出適於多國企業子公司的知識來源型態分類架構，並且證實知識來源決策階層模式的觀點；在實務方面，本研究可提供子公司知識來源決策之考量因素，以及母公司調整其全球策略、管理制度設計及定位子公司角色之參考依據。 第一章 緒論……………………………………………… 1 第一節 研究背景與研究動機………………………… 3 第二節 研究問題與研究目的………………………… 8 第三節 研究範圍與研究限制………………………… 11 第四節 相關名詞說明………………………………… 14 第五節 研究程序……………………………………… 19 第二章 文獻探討……………………………………………… 23 第一節 知識的意義與內涵………………………………… 23 第二節 知識來源型態之分類架構………………………… 28 第三節 子公司知識環境與知識來源型態……………… 33 第四節 母公司因素與知識來源型態……………………… 41 第五節 子公司因素與知識來源型態……………………… 50 第六節 知識特性與知識來源型態………………………… 64 第七節 文獻探討與初步研究架構………………………… 70 第三章 個案分析………………………………………… 73 第一節 個案研究方法………………………………… 73 第二節 個案說明……………………………………… 75 第三節 個案比較分析………………………………… 93 第四章 研究設計………………………………………… 96 第一節 研究架構的建立……………………………… 96 第二節 研究假設……………………………………… 102 第三節 研究變項定義與問卷設計…………………… 122 第四節 研究樣本與資料蒐集………………………… 131 第五節 資料分析方法………………………………… 134 第五章 實證研究結果…………………………………… 139 第一節 樣本描述……………………………………… 139 第二節 問卷之信度與效度…………………………… 150 第三節 子公司知識來自母公司集團或非母公司集團 的影響因素分析……………………………… 156 第四節 影響子公司知識來自自行發展或策略聯盟的 因素分析……………………………………… 175 第五節 其他相關因素之影響………………………… 181 第六章 結論與建議……………………………………… 190 第一節 研究結論……………………………………… 190 第二節 理論與實務涵意……………………………… 203 第二節 後續研究建議………………………………… 210 參考文獻…………………………………………………… 216 / By coming of the knowledge age, to acquire knowledge is a key capability. A potentially important source of competitive advantage for multinational firms is the capacity of their foreign subsidiaries to generate knowledge and innovations based on stimuli and resources resident in the heterogeneous host country environments in which they operate. In this sense, sources of knowledge of subsidiaries become an important issue. The purposes of this research are to identify the influential factors in the choice of knowledge-sourcing mode and proceed empirical tests. The research develops a hierarchical model of knowledge-sourcing decision and argues that managers have a limited analytical capacity when making complex decision. Mode of knowledge-sourcing decision for MNCs’ subsidiaries can be first classified as MNC-based and nonMNC-based. At the next level of hierarchy, nonMNC-based modes are further split into internal development and strategic alliances. Moreover, there are factors that influence the choice at first level, and that all of these factors do not influence the choice at the second level of the hierarchy. This model can provide a more precise picture of what affects the choice of knowledge-sourcing modes under the information overload and the complexity of the choice decision. By reviewing literatures on the theory of MNCs, transaction cost economics, resource-based view and the theory of social network, and integrating the result of case analysis, we develop the research framework. We argue that both subsidiary knowledge environment and knowledge specificity are the main factors affecting knowledge-sourcing mode likely to MNC-based or nonMNC-based sources. There are moderators, resource factors. and organizational context factors, affecting the front relationship. Furthermore, subsidiary factors and knowledge uncertainty affect knowledge-sourcing mode likely to internal development or strategic alliances. The empirical samples were MNCs’ subsidiaries in Taiwan. The unit of analysis was an item of knowledge. By questionnaire survey, the total number of samples is 234. We apply two analysis methods, including the logistic regression and the regression analysis, to make sure the robustness of our results. The empirical results reveal six findings: (1)Strong ownership advantages will promote subsidiary to adopt the MNC-based mode; (2)strong location advantages of the host country will promote subsidiary to adopt the nonMNC-based mode; (3)high location specificity of knowledge will promote subsidiary to adopt the nonMNC-based mode; (4)the extent of headquarter control and social capital of subsidiary managers are moderators affecting the relationship between ownership advantages, the global strategy, location advantages separately and the knowledge-sourcing mode; (5)rich subsidiary resources will promote subsidiary to adopt the internal development mode; (6)high uncertainty of knowledge will promote subsidiary to adopt the strategic alliance mode. To conclude, the theoretical model possesses a high explanatory power in associating the determinants and the choice of mode. The study has two key contributions. First, it provides a knowledge-sourcing typology that is suitable for MNCs’ subsidiaries. In addition, the results provide supportive evidence for the hierarchical model of knowledge source. Second, for managers, our study shows that there are many factors that affect the adoption of knowledge-sourcing mode and provide a guideline for headquarter managers to adjust their global strategy, design the control system and position their subsidiaries.

本研究主要在探討多國企業面對全球環境變化與全球策略的改變時，如何針對不同角色的子公司進行整合與協調。另外，並提出多國企業整合與協調的權變模式，試圖瞭解在不同的全球環境與全球策略下，子公司角色如何變化、資本流與知識流如何移動、應採取何種整合與協調機制。本研究採用個案研究法，以國內國際化程度最深之一的宏碁集團為對象，針對集團總部與六個子公司進行研究，並以 Client-ServerO.X、Client-Server l.X 與 LOB 將宏碁集團整合與協調分為三個階段，兼用結構化問卷與對子公司高階經理的深度訪談取得詳細資訊。另外並椅子公司的「相對優勢」、「全球整合／地方回應」與「策略重要性」將子公司角色分成八類，亦定義出六個整合與協調的機制。研究結果發現，當全球整合壓力增強時，多國企業將增加成本領導策略與與複雜創新策略的權重，優先促使全球整合導向、策略重要性高但相對優勢較低的子公司改變其角色，此時對不同角色的子公司仍需採取不同的整合與協調機制，但皆加強結構調整機制與資源管理機制的使用；當地方回應壓力增強時，多國企業將增加行銷差異化策略與廣度策略的權重，優先促使地方回應導向、策略重要性高但相對優勢較低的子公司角色移動，但較不強調資源管理機制的使用。 / This paper investigate how a Multinational Corporation(MNC) integrates and coordinates subsidiaries with different roles, in the context of global competition . A contingency model MNC's integration & coordination is proposed in order to provide a in-depth understanding of how to deal with the flows of knowledge and capital. Integration and coordination mechanisms are also suggested to manage the strategic role changes of subsidiaries. A qualitative approach consists of questionnaires and interviewing of CEOs is used to explore the relationships among global environment, global strategy, subsidiary's roles and mechanisms to integrate and coordinate the activities of a MNC. One of the MNCs in Taiwan with high degree of internationalization, Acer Group is the focus of the study. The head office and six subsidiaries were interviewed and the following three phases of Acer's history were examined: Client-Server O.X, Client-Server l.X and LOB. Three dimensions, relative advantage, integration/responsiveness and strtrgic importance, were used to classified the roles of subsidiaries into eight categories. We also identified six mechanisms of intrgration and coordinition. The research findings suggest two important patterns to integrate and coordinate. First, increasing pressure to integrate will push MNCs to strengthen the cost strategy and complex innovation strategy, to change subsidiaries'roles. The head office should adopt different integration and coordination mechanisms to deal with subsidiaries with different roles. Two types of the mechanisms, the microtructural arrangement mechanism and the resource management mechanism should be emphasized in all subsidiaries. Second, increasing pressure to response to host demands will push MNCs to strengthen the marketing differentiation strategy and breadth strategy, to change subsidiaries'roles as well.