企業集團在台灣經濟發展的過程中，一直扮演著相當重要的角色，而企業 集團的一大特色就是往往伴隨著許多多角化事業體系，然而不同企業集團 多角化的程度不一，因此本研究嘗試以實證模型為主，並且列舉台南紡織， 中國鋼鐵，明基電通三個個案為輔來，探討企業集團多角化的原因，我們 主要以西元2000 年的資料實證並且發現以下結論: 1.台灣的企業集團將隨著規模越大，多角化程度越高。 2.台灣的企業集團的經營績效若越高，則多角化程度越低。 3.台灣的電子產業相較於其他的產業而言多角化程度較低。 4.台灣的家族企業和多角化程度的高低無關。

本論文檢視企業資源與環境對與企業國際化的影響關係，針對的對象為2004年台灣的集團，共計126樣本，在過去，此一對國際化程度的基礎研究較少被討論，而較多討論國際化與績效的關係，本論文將解釋國際化程度，對基礎問題的研究提出一些實證結果，使關於國際化的研究文獻更趨完整。本論文提出了四點假設:(1)集團企業多角化成度對於國際化是反向影響,(2)集團的國際化經驗會正向影響國際化程度,(3)集團企業的利潤會正向影響國際化程度,(4)國內產業的成長率會改變利潤對與國際化程度的正向影響方向。此四個假設在本論文實證中都被支持，而且在所有模型中都結果都相當一致。最後，本論文檢視了五個國內集團包括大同、統一、和泰汽車、耐斯、國產實業的案例來輔助實證的結果，可見不同的產業環境與企業資源會有不同的國際化狀況。

世界各國中皆存在著許多企業集團，發展的興盛的例如韓國、日本及許多開發中國家等，而台灣也有著不少企業集團，企業集團往往因為財力雄厚、資源豐富而能夠策略性多角化擴張甚至持續投入研發，進一步強化集團的競爭能力，尤其進入了全球化時代後，各企業的國際化程度不斷地提高，營收來源不斷增加，創新的來源也更加多元。本研究針對台灣的企業集團，探討其在國際化程度上，是否能夠提高創新活動。 本研究以1996年至2000年之間，以台灣113家企業集團為對象，該期間台灣政府為因應加入WTO推動一連串私有化及制度鬆綁之變革，市場制度及法規的改變對於企業集團的國際化發展提供一個良好的發展背景，對於集團更邁向國際化有長足的影響；然而，在該期間內企業集團之國際化程度提高的同時，是否確實會對國內市場及國外市場之創新程度有所影響，本研究利用OLS多元迴歸模型，探討集團的國際化對創新正面影響的效果，並探討該影響的原因。 本研究結果顯示，台灣企業集團的國際化程度，顯著地對國外市場的創新活動程度有正面的影響，但有遞減的效果存在，對國內市場的創新活動程度無明顯的影響。 / There are abundant business groups in the world, such as in Korea, Japan, and many emerging markets, so as in Taiwan. Business groups are endowed with their financial power and fruitful resources that allow them to keep making R&D inputs continuously, especially in this kind of highly competitive global environment which push the degree of internationalization of companies condense time by time. Also the source of innovation become diverse recent years, this research is going to find out about the relationship of degree of internationalization and the innovation performance. We use the data of 113 Taiwanese business groups in the period of 1996 to 2000. In this period, Taiwan’s government carry out an array of privatization, deregulation and liberation policies that reduce trade barriers that allows business group to grow even bigger or much more globally. However, whether the more international they are, will Tai be more innovative? Will they have better innovation performance? That’s what this research going to figure out. We use OLS model to test our two hypotheses: 1. Will the increase of degree in internationalization of Taiwanese business group positively affect the performance of innovation in domestic market in a decreasing rate? 2. Will the increase of degree in internationalization of Taiwanese business group positively affect the performance of innovation in foreign market in a decreasing rate? Our results show that first hypothesis cannot be supported but the second hypothesis can be supported. So we can infer that when the degree of internationalization of Taiwanese business group would positively affect the innovation performances in the foreign market, because the various learning in foreign markets would feedback into the system of innovation of business groups.

在經濟全球化潮流下，企業透過跨國投資活動拓展經營規模，利用企業組織優勢，配合當地生產稟賦，進行跨界生產活動。而台灣在經濟發展逐漸穩定成長，國內市場面臨飽和及投資環境變遷等因素，已有不少廠商向外進行投資活動，尤其是中國大陸地區。根據相關研究顯示，台商早期進去中國以傳統製造業為主，屬於勞力密集高之產業，後期則逐漸以資本及技術密集產業為主，顯示在不同時期，台商對中國投資特性之改變。 本文從FDI理論作延伸，以經濟地理學、企業管理學角度切入，探討台灣知識密集型製造業集團投資中國區位選擇。以台灣知識密集型製造業集團作為研究標的，其目的在於反映台灣目前企業組織變化及產業動態，而研究區位則依研究目的，分為台灣地區、渤海灣地區、長江三角洲地區及珠江三角洲地區。實證模型採多項羅吉特模型（multinomial logit model, MNL），實證變數分為兩個部分：第一部分為廠商變數，放入集團產業類別、投資時間及投資經驗，第二部分為區位變數，放入薪資、市場規模、工業化程度、專利產出強度及外資投資強度。實證結果顯示集團對於區位條件較重視，且會因本身活動不同，而對市場規模、外資投資強度會有不同表現。依相關研究推論，投資珠江三角洲地區之集團以出口導向為主，對於外資投資強度為正向反應，市場規模則為負向；而渤海灣地區則剛好相反為內需型；長三角地區之集團則為兩者兼具。同時從結果亦發現地區之專利產出強度對於內需市場型集團為正向反應，映證地區創新表現越高，則企業將有意願在該地投資，因該地之創新氛圍有助於企業產品或技術創新，滿足當地市場需求。 因此從成本優勢來看，中國三大地區僅管勞工薪資不斷成長，但仍比台灣地區更具優勢，市場規模也是如此。但若以專利產出強度來看，台灣過去累積多年的創新活動，政府支持企業創新研究，並以國家機構帶領民間企業進行創新研發，輔以高度教育之人才，使得台灣地區在創新研發競爭力上比中國較具優勢。而台灣作為跨國企業集團母國地位，除透過開拓海外市場、拓展生產基地外，在母國進行投資活動有利於企業核心競爭力維持，確保跨國企業總部握有關鍵技術，維持台灣地區競爭力。

過去對於台灣單一廠商朝向大型集中化的企業集團發展及其在地交易治理模式的現象較少涉及，本研究由網絡理論出發，扣連華碩集團作為研究場域，援引Håkanson企業全球擴張模式，企圖論證華碩企業集團化過程中，如何透過獨資或合資之進入模式，佈局全球在地網絡關係，進而運用Powell組織治理模式，探討企業集團在地網絡治理模式。有別於過去文獻單從政治經濟學詮釋企業集團介入不同產業時，強調國家角色的重要性；或者從經濟地理學探討單一產業之廠商全球佈局或跨界生產網絡建構與在地鑲嵌實證研究，期能補充過去文獻之不足。經研究後發現： 一、Håkanson於1979年所提出之企業集團全球擴張模式，無法適用於華碩全球網絡擴張模式。 經本研究分析，Håkanson所提出的企業集團全球擴張模式，無法適用於華碩企業集團的全球網絡擴張模式，就其原因，應與現今之企業集團受全球網絡接軌、資訊技術的進步、市場全球化、專業技術的研發及台灣中小企業的靈活性等因素影響。故本研究依華碩案例，整理出企業集團全球擴張模式的三階段，1.單一廠商及採用海外銷售代理商階段；2.滲透到個國內外市場階段；3.產生跨國產業的公司。 二、Powell的組織交易治理模式，可以解釋華碩企業集團全球網絡下各公司在地網絡治理行為。 Powell強調網絡是一個重要的組織交易治理模式，相關研究亦指出華人企業比較重視「網絡」，透過華碩企業集團案例分析，顯示研發活動受到確保關鍵技術的限制而採用層級型；在製造活動上，受到控制產品品質及降低成本的需求，初期會採用層級型，然後隨着產品多樣化而採用網絡層級型；行銷活動為了獲取最大的銷售利益，在單一技術多角化經營期間採用市場網絡型，隨着產品多樣化而採用市場型。 三、本研究所選擇的四個影響在地組織交易治理模式因素，僅有企業價值活動具解釋性。 透過企業發展階段、各公司設立時間、進入模式及企業價值活動等四個選擇因素的迴歸分析，發現各分、子公司所從事的企業價值活動對在地組織交易治理模式有顯著影響。 / There are few researches on how a Taiwanese single manufacturer developing into a hyper-centralized group and what its localized business and management model is. Hence this paper is employed the network theory to Asus as studied case and applied Håkanson’s Corporate Global Expansion Model for Asus’ group developing process to try to explain how employ solely or joint investment entering model to layout global localized network. Furthermore, employ Powell’s organization management model to explore corporate group’s local management network. This dissertation is different from most papers focus on the role of country when interpreting from political economy view that how corporate group enters various industry. It is also different from economic geography view to explore how one single manufacturer layout globally or across industry to setup and localize completely production. I hope the approach of this paper can fill the gap. Findings: 1. Håkanson’s Corporate Global Expansion Model submitted in 1979 can not be applied for Asus’ global network expansion model. The reason why Håkanson’s Corporate Global Expansion Model can not be applied for Asus’ global network expansion model is modern corporate group is highly influenced by global network, information technology, market globalized, and the development of professional skills, and the flexibility for Taiwanese middle and small companies. It can be concluded that there are three stages for the corporate group to expand globally based on case Asus. First is one single producer and oversea sales agent, the next step is penetrating to foreign market, and the third phase is one cross-country manufacturer is born. 2. Powell’s organization management model can explain how Asus’ individual company’s local managing behavior under the global umbrella of Asus Corporate Group. Powell emphasizes the network is a very important organization business management model. All the relative researches also point out that Chinese enterprises consider “network” more important than the others. Base on the stud of Asus, this paper indicates R & D development is restricted for protecting critical technology so as to employ ranking mode. As in production, by the request of controlling product quality and lowering down cost, at first, the ranking mode is required, then, along with product variety increasing, the network mode is employed. Marketing activity aims to maximize selling profit. Asus employs market network mode for a single technology with diversified managing phase while market mode for product variety situation. 3. Researching four chosen factors of influencing local organization business managing model, enterprise value activity only is explainable. Based on the regression analysis for four chosen factors as enterprise developing stages, the setup date of each subsidiary or branch office, entering models, and enterprise value activity, the enterprise value activity of each subsidiary or branch office does significant influence on local organization business managing model.

本研究著眼於台灣經濟轉型、中國經濟的崛起與台灣企業組織的變化，從台灣企業集團的總部設立、跨界投資的區位選擇及在地再投資三個面向進行討論，期望在既有的研究基礎上，就台灣廠商在兩岸投資區位佈點的考量提出完整性的觀察，並強化既有的研究。 首先，以台灣1000大製造業為研究樣本，選擇包括純辦公室使用、研發設計、台商一千大、跨國生產網絡、外資企業、員工人數、資本總額、知識密集型、傳統型製造業等變項分別代表總部功能、跨界治理能力及企業屬性三大類變數，透過二元羅吉特模型以及集群分析方法，探討台灣企業在首都、都會區以及生產性服務業及創新氛圍同質性地區的總部設立區位選擇行為。實證的結果發現，代表企業屬性變數的資產總額、員工人數和產業別明顯影響台灣製造業廠商在首都設立總部的區位選擇，而總部功能為純辦公室使用或設有研發機構者更傾向將總部設立於首都或都會區，跨界治理能力的影響則未能獲得證實。另外，過去國內在研究企業總部地點選擇研究上較少從創新氛圍角度出發，而本研究實證的結果發現，台灣製造業廠商企業總部的區位選擇不僅受到地區生產性服務業的影響，也受到地區創新氛圍的影響。 在跨界投資區位選擇部分，本研究以台灣250大企業集團中的知識密集型製造業集團為研究對象，以台灣、環渤海地區、長江三角洲地區、珠江三角洲地區為研究場域，選擇企業特性與投資區位條件變數，並以多項羅吉特模型進行實證分析。其中，企業特性變數為產業類別、投資經驗、投資時間等三項因子，而投資區位條件則有勞工薪資、市場規模、區域創新強度及外資投資強度等因子。實證結果發現，代表經濟發展階段的投資時間變項確實會影響企業集團的區位選擇行為，產業的類別不同其區位選擇也會不同，先前的投資經驗雖然影響區位選擇。但是與過去研究不同的是，本次實證發現對台灣企業來說面對相似而且鄰近的市場，進入新市場的動機可能比過去的投資經驗來得重要的多，同時投資區位條件亦會影響區位選擇行為。另外，過去較少直接連結廠商生產面的區域創新能力亦明顯影響企業集團的區位選擇，因此本研究認為區域創新活動對於跨國企業在地化取得知識及技術亦具有相當重要的意義。 在地再投資部分以台灣製造業1000大廠商中知識密集型製造業為研究對象，並以工業地域觀點所劃分的台灣地區北、中、南三大區域為研究場域，選擇包括在台投資經驗、總部區位、第一次投資決策、路徑依循等企業廠商組織決策之屬性變數，以及包含區域中科學園區的設立、產業專業化係數、雜異化指標等區域環境變數，透過多項羅吉特模型進行實證分析。實證的結果發現，總部區位確實影響後續再投資的工廠區位選擇，第一次的投資決策經驗對於第二次投資的區位選擇行為影響比總部區位的影響明顯，代表時間演進而產生路徑相依的地區經濟型態差異變項也確實會影響區位選擇行為。而當區域內科學園區的發展相較未臻成熟時，其區域的賦能仍不足以吸引企業廠商進駐，至於台灣企業的再投資區位選擇基於對區域特性的了解較偏好區域內工業地域的地方化經濟，而不偏好區域內工業地域的都市化經濟。 / Stressed on the Taiwanese economical transition, the up-rising of Chinese economy and the change of Taiwanese enterprise organization as well as based on the past research, this study explores the factors affecting location selection behavior of Taiwanese firms across Taiwan Strait from three aspects including the establishment of enterprise headquarter, cross-border investment and local re-investment. On the establishment of enterprise headquarter, the top 1000 manufacturing firms in Taiwan were sampled and some factors were analyzed including office type, R&D, multinational production network, foreign enterprise, number of employee, total asset, knowledge-intensive business, and traditional manufacturing firms. However, these factors could be classed into three fields: headquarter function, cross-border management ability and firm characteristics. Then, the location selection behavior of Taiwanese enterprise headquarter was examined by the techniques of binary logit model and cluster analysis technique among capital area, urban area and homogenous area with productive service industry and innovation-based cluster. The results of empirical analysis show that the factors represented firm characteristics including total asset, number of employee and enterprise type significantly affected the location selection of Taiwanese enterprise headquarter. Furthermore, it is also verified that the enterprise headquarter had been established in capital or urban area if the headquarter was provided with R&D or simply used as office, but the effect of cross-border management upon headquarter establishment is insignificant. The effect of innovation-based cluster upon location selection of enterprise headquarter is seldom studied in the past. However, according to empirical results in this study, they show that location selection of Taiwanese enterprise headquarter is affected not only by local Productive Service industry but also by regional innovation-based cluster. On the location selection of cross-border investment, this study focused on the area of Taiwan, Bohai Economic Rim, Yangtze River Delta and Pearl River Delta. The top 250 Taiwanese enterprise groups were taken into consideration, and the multinomial Logit model was adopted for empirical analysis in which firm characteristics and location conditions were chosen as research variables. Where, firm characteristics contained industrial type, investing experience and investment time, and location conditions included labor cost, market scale, regional innovation intensity and foreign investment intensity. The empirical results indicate that industrial type and investment time significantly affect the selection of investment locations. In contrast, investment experience only slightly influences the selection of investment locations. In addition, we find that entrepreneurial motivation to enter new markets may be much more influential than prior location investment experiences for Taiwanese enterprises functioning within similar markets. Regional differences shaping investment conditions in Taiwan and mainland China also affect the selection of investment locations. Our analysis shows a particularly strong linkage between regional innovation capacity and the selection of investment locations. This implies that regional innovation capacity plays a very important role in the selection of investment locations for multinational enterprises On local re-investment, the top 1000 knowledge-intensive manufacturers in Taiwan were the samples divided by region into the northern, central and southern Taiwan groups by administrative region. The factors affecting organizational decisions were the attribute variables, including Taiwan investment experience, headquarters location, first investment experience and path dependence; and the factors affecting location selection were the regional environment variables, including regional science park status, industry specialization coefficient and Hirschman-Herfindahl index (HHI). The multinomial Logit model was used for empirical analysis, and the results show that the headquarters location affects plant location selection in re-investment, and the first investment experience has a more significant effect on the plant location selection in the second investment than the headquarters location, suggesting that the path-dependent heterogeneity in regional economic style developed over time affects location selection. Also, the immaturity of regional science parks affects plant location selection when regional empowerment cannot attract enterprises. Lastly, Taiwanese enterprises prefer regions with localized economies to regions with urbanized economies for plant location selection.

中國大陸經濟體制改革中最為重要的是對國有企業的改革，而企業集團（關聯企業）的產生與發展，就可以追溯到20世紀80年代對國有企業的一系列改革。1993年《公司法》的制定主要目的和功能是爲了進行國有企業股份制改革，因此並未對企業集團（關聯企業）有所規定。最近20年來，中國大陸經濟飛速發展，企業集團化非常普遍，關聯企業在中國大陸的經濟活動中有著舉足輕重的地位。 臺灣公司法1997年修正時，新增關係企業專章，以保障從屬公司少數股東及其債權人之權益，並促進關係企業之健全運營。而中國大陸《公司法》幾次修正卻從未將關聯企業納入其中。本文認為，在中國大陸，如何規範關聯企業之發展，如何保護從屬公司少數股東及其債權人之利益，已經成為一個迫切需要進行立法規範的議題。 因此，本文會對臺灣公司法關係企業章進行研究，尋求中國大陸《公司法》可以借鑑之處，同時亦會分析中國大陸在關聯企業形成過程中的不同之處，以提出適合中國大陸環境之立法建議。 / The reform of State-owned enterprises has been the top priority in China for the economic reform. The formation and development of enterprise group (affiliates enterprises) can be traced back to the enterprise system reform in 1980s. The China Corporate Act 1993 focus on the reform of State-owned enterprises but not the enterprise group (affiliates enterprises). The following amendments still did not regulate the enterprises group (affiliates enterprises). In the last two decades, the economy developed rapidly and enterprise group is very common. Affiliated enterprises play an important role in China's economic activities. Taiwan amended its Corporate Law in 1997, adding Affiliated Enterprises chapter to protect the minority shareholders and the creditors of the affiliated company. The purpose is to promote the sound operation of the affiliated enterprises. There are some substantial developments from the practical experience and legal inquiry for the relevant operations. This paper argues that in order to protect the transaction safety, improve the regulations and development for affiliates enterprises, ensure the interests of minority shareholders and creditors of affiliated companies, we should clarify the forms, types, legal operation background, and difficulties of affiliated enterprises in China. Based on the examination and analysis of Taiwan Corporate Law, and learning from the China Corporate Act at the same time, this paper hopes to propose appropriate legislation fit to China's corporate structures and environments.