本研究探討公司籌措資金的方式，並介紹目前熱門的群眾募資的起源、歷史發展，各地區市場概況，接者探討台灣市場、法規範、稅負、募資平台、金流方式、趨勢及2015年中新立法通過的股權模式群眾募資等。 本文以筆者實際執行過的群眾募資專案為個案，探討個案在台灣現況下所遇到的法規範、稅負及有無發生爭議，並提出改善群募爭議的方法。此外也透過個案中的資料，利用實證研究得出，若贊助者曾經向提案團隊購買過商品，則其贊助金額會高於一般贊助者，另外研究結果也得知，若是在週末贊助的贊助者，其贊助金額也高於週間的贊助者，上述兩項因素都和贊助金額成顯著的關係。此外也從實證中發現，本募資個案中女性贊助者高於男性贊助者，但性別和贊助金額是不顯著關係，女性平均的贊助金額並沒有高於男性，而居住區域也和贊助金額呈現不顯著關係，本個案中，超過七成的贊助金額來自北部地區，但北部贊助者每人平均贊助金額並沒有高於中部和南部贊助者。 / This study investigated the company funding modalities and the history of the crowdfunding, development trend and market. And probed the conditions of law, tax, fund-raising platform, cash flow mode, trends in Taiwan. In this paper, the author actually been executed crowdfunding project as a case, investigate cases of legal norms, tax and dispute in the current situation. The use of empirical study concluded that if the sponsors had proposed to purchase goods over the proposal team, then the amount will be higher than the general sponsors, additional findings also informed that if the sponsors donated in weekend, which is also higher than the amount of sponsor of the week, these two factors have a significant relationship with amount of sponsorship. Also from the empirical findings, the women sponsor were more than men sponsors in the case, but gender is not significant, women sponsors average amount weren’t higher than men sponsors. While residential areas are also no significant relationship with the amount of sponsorship. In the case more than seventy percent of the amount of sponsorship from the north, but northern sponsor average amount were not higher than the central and southern sponsors.

全球化是二十一世紀以來，最被廣汎討論的議題。無論在政治、經濟、企業、生產要素都無可避免地往“全球化”的洪流推進。這股全球化的力量將是所有人無法抗拒及置身事外的。當然，台灣企業亦無法迴避這股全球化的趨勢。 為因應這股全球化的浪潮，本論文引個案公司為例，探討其全球化的演進歷程，包含全球化的組織分工與佈局及其因應國際移轉計價租稅問題。根據以上的探討結論，本研究提出下列建議： 一、對台商企業因應全球化的建議： 1.台商組織文化的塑造及溝通模式的建立 全球化競爭時代，快速、彈性、效率、反應成為企業彼此競爭和成為全球運籌公司的關鍵。全球化公司在發展過程中，內部共識的形成、企業文化的形成、組織體系的扁平化和分工、領導溝通和策略決斷等等，是首要必須調整的課題。爰以個案的討論，提出台商朝向全球企業方向的組織管理建議。 2.組織架構的調整及功能的定位之建議 全球化的企業，主要係透過全球製造基地設立、全球市場(銷售據點)規劃、支援服務集中化等來修正改變其營運架構，此營運架構須跳脫法人組織架構的藩籬，同時配合國際移轉訂價策略，提出組織架構的調整及功能的定位之建議。 3.銷貨及製造交易模式引發租稅問題的對策 針對台商進行全球化常見的銷貨及製造交易模式所引發租稅問題，提出相關的建議。 4.移轉訂價政策的制定及後續管理 為因應全球化的國際移轉訂價租稅問題，建議企業內部應成立移轉訂價委員會，制訂集團移轉訂價策略，並管理後續相關事宜。 二、對政府協助台商企業全球化佈局的建議： 1.落實產業升級與轉型，以知識經濟取代產業政策 建議政府以整體產業的升級與轉型之知識經濟政策，取代僅強調某些產業之發展政策。 2.建構全球化效能政府與基礎建設 不僅企業要全球化，政府亦同時要進行全球化的改造。全球化強調彈性及效率，政府組織及政策亦因以此為準繩，才不致於成為企業全球化的絆腳石。此外，政府更應積極進行因應全球化的基礎建設，吸引全球資金以台灣為轉介中心，同時確保企業能根留台灣。 3.建立全球化產業資料庫，協助企業解決因應全球化所面臨的問題 成立世界各國投資資訊資料庫，舉凡各國政治、經濟、產業、租稅、人文及基礎設施等，供企業查詢，並定期更新。責成本國及當地專家針對企業對外全球所面臨問題深入輔導。 三、對政府國際移轉訂價的租稅政策建議： 1.立法院應儘速通過所得稅法第四十三條之一之修正草案，即移轉訂價立法草案，該草案係對移轉訂價的適用方法、稽核的對象、預先訂價協議機制作一通則性的規定，使得移轉訂價的稽核有明確的法律依據。 2.移轉訂價稽核立法後，應進行國際租稅人員的培訓，以熟悉移轉訂價的概念與稽核的技巧，並派員至美國IRS吸取稽核的經驗。此外，亦應同時對國內外企業進行教育宣導，讓企業能提早因應移轉訂價的稽核準備。 3.建立國際移轉訂價參考公司資料庫及全球化組織最佳實務準則，供企業國際移轉訂價的參考。鼓勵企業自行覆核公司移轉計價的策略，檢視是否符合常規交易；並制訂預先訂價協議機制細則，提供多國籍企業制訂移轉訂價策略的選擇。 關鍵詞：全球化、移轉訂價、國際租稅、個案研究 / Using case study method, this thesis studies a Taiwanese company in the evolution track of globalization may confront with arduous external and internal problems. The thesis stresses that the international transfer pricing topic is particularly important for globalized companies. Furthermore, the function segment for a globalized organization will affect both company’s competition capability and transfer pricing policy. In summary, this thesis recommend multinational companies should consider to adjust his organization structures and fix his organization functions to conquer the possible crises of continuous operation, and to establish reasonable international transfer pricing policy to defense possible challenges coming from tax authorities in the varied jurisdictions. Further, this thesis also recommend the Legislative Yuan of R.O.C. can approve the transfer pricing proposed law of Taiwan jurisdiction as soon as possible and our government can be assistance of the companies to overcome the international transfer pricing issues in the globalization. Keywords: Globalization, Transfer pricing, International tax planning, Case study.

對製藥產業而言，不斷推出創新產品是其價值創造的最大動力。另一方面，市場之競爭與價格限制之壓力使所有的製藥業者莫不將提高研發的績效視為企業維持高成長的關鍵途徑。因而製藥企業一直面臨的巨大壓力便是要能快速、確實推出安全有效的新藥上市。隨著競爭模式的轉移，無形資產及知識創造之價值將是決勝的關鍵。受限於本土藥品市場規模的限制與有限的研發能量，本土製藥企業之新藥研發大多以發展階段的新藥開發為主而非風險大、時程長的新藥研究。於是瞭解智慧資本的創造、加值、運用與管理對製藥產業新產品開發績效之影響也將更為關鍵。本研究先就智慧資本之文獻與各種衡量模式進行歸納，並引用Skandia智慧資本導航者之架構，分別以人力資本、流程資本、創新資本與關係資本四個構面評量企業之創新智慧資本之內涵與建置，並試圖瞭解本土製藥產業創新智慧資本對新產品開發績效之影響，期能對我國產製藥產業智慧資本之管理方向提出建議，以提供業界進行創新智慧資本管理與發展之參考。 / The lifeblood of the pharmaceutical industry is its ability to produce innovative products. Additionally, both the heavy competition in the market and the trend of cutting price by the health insurance payers also force the industry turns their focus on increasing the performance of R&D to maintain the high growth rate. Therefore, how to launch a safe and effective new drug in a shortest time is a great challenge to the industry. Along with the changing of the core competitive advantages, the value of the intangible assets and knowledge creation become the key success factors. Linking intellectual capital management with R&D activities in pharmaceutical companies would be a critical factor in enhancing R&D performance. For a local pharmaceutical, limited by the market size and the R&D ability, the R&D activities would be more on the development phase than research phase. The relationship between intellectual capital with new product development would be more critical especially in this knowledge-base pharmaceutical industry. By literature review and adopting the intellectual capital assessment model of the Skandia Nevigator, the study divides the intellectual capital into human capital, processes capital, innovation capital and relationship capital and try to find the elements of innovative intellectual capital related to new drug development in a local pharmaceutical company. It also tries to find out how a local pharmaceutical company creates and manages its innovative intellectual capital. The research results show the current situation about intellectual capital of the case and will be provide a reference for the industry and further research.

本研究是以Logit迴歸模型建立台灣2004年Q1至Q3某一本國銀行授信 行業別為電子科技產業、定義為大額授信戶之公開發行公司共46家，特性為同質性電子產業其中資產及營收達一定規模以上之樣本公司作為研究對象，並運用Logic模型導入變數，將此類財務危機樣本公司予以分析，探討發生財務危機是否在銀行借款比率、財務操作比率、或有負債比率等方面產生相關性之研究。 本研究實證結果顯示，在銀行借款變數方面，銀行借款金額佔營收之 比率與發生財務危機企業呈現正相關，顯示危機企業的銀行借款比率偏高，對金融機構舉債過高易週轉不靈; 在財務操作方面，衍生性金融商品部位佔營收比率與發生財務危機企業呈現正相關，顯示危機企業對衍生性金融商品之財務操作太過度，易發生財務危機; 在或有負債方面，對子公司之背書保證金額佔營收之比率與發生財務危機企業呈現正相關，顯示危機企業對子公司或有負債之過度保證，易發生財務危機。 由實證結果得知將這些變數納入模型，會增加模型的預測能力，因此可 以從這些變數歸納出一些端倪，達到事先預防的功能。

在電子商務時代中，企業能夠迅速反應市場需求，從訂單、生產到最後之運送皆採用電子化（e化）技術，使能迅速的生產與交貨，已成為競爭之必要利器。企業電子化（企業e化）之應用已陸續在國內外如火如荼推展，電子化無疑是各種組織當前最重要的課題之一，隨著網際網路商業化環境的逐漸成形，組織多了一項可以提昇內部營運效率，降低成本並增加競爭優勢的有力工具，也因此產生了全新的企業經營模式，並為企業帶來極大的商機，企業經營模式面臨了劇烈的變動。 對於企業電子化，目前所有企業皆在摸索之階段，再加上網際網路應用一切皆在萌芽之中，網路技術更新速度非常快，資訊太多又太分散，沒有一套可遵循的架構。本研究主要目的是希望透過文獻探討、廠商資料分析、產業實務個案訪談與問卷調查等方法提出一個企業電子化之架構與歷程，對於了解組織電子化成長過程的整體變化方向有相當的助益，並可提供企業未來營運策略和統籌規劃方向的參考，也讓企業了解其在推動企業電子化階段進展中每個階段所應進行之階段任務。藉由六個階段模式之建立，我們可以很清楚的了解企業電子化發展的階段，分為起始期、被迫期、接受期、整合期、加速電子化期與全面電子化期；其階段歷程有著演化、技術、觀念與能力提升的概念。 / Industries can response swiftly to market demand in the e-commence age. Using e-business technology to manage orders, production, and delivery enables quick and accuracy productions and deliveries. No wonder that the e-business has become a powerful weapon in the struggle to gain market share. The applications of e-business for local and abroad enterprises have been advocated for a while.　The rapid development of Internet not only has provided firms with great growth opportunities, but also brought about drastic structural changes in business model. As enterprises become globalized and Internet connected, new and better architecture is needed to meet the requirements of enterprises. In this paper, we develop the model on e-business stage by literature review and case study. This stage model will help institutes to give impetus to adoption of e-business. The research results show the current situation about e-business of the cases and will be provide a reference for future research. We believe the proposed model would properly be used for enterprise to improve competitive advantage and to adopt effective measures to improve their business. Refer to the empirical study, we want to design questionnaires and send to the enterprise. Next through the multivariate statistic methods, we will propose some meaningful conclusion and draw some suggestions and implications for the academic research and firms.

目前平衡計分卡為哈佛商業評論前五百大企業所公認最具效力之管理工具，美國『Fortune』雜誌一千大企業中已有過半數的企業導入平衡計分卡，近年來在國內亦開始受到企業界相當程度之注意。然細究國內實務界之推行個案可以發現，多數企業所推行之「平衡計分卡」，僅著重於設計四構面之關鍵績效指標，實為傳統績效管理之延伸範疇，能夠真正融會貫通其精髓概念、透過平衡計分卡制度充分發揮其策略發展與管控執行之能力者，仍屬有限；回顧國內相關論文，亦多以設計及規劃個案公司之平衡計分卡為主題，且偏重於衡量指標之設計與選擇，對於平衡計分卡整合企業資源以執行策略之特質及企業實際導入之過程較少著墨；故本研究以國內一採用平衡計分卡整合其策略管理及績效評估系統之特用化學公司為研究對象，自總公司、策略事業單位及共用服務單位三大層級，介紹個案公司在平衡計分卡導入初期之詳細內容與步驟，以及導入時所遇到之問題，並提出相關建議，俾作為個案公司及後續企業採用平衡計分卡時之參考。 / In recent years, academic scholars and business world managers have both given increasing attention to the importance of strategic measurement systems. One of the approaches adopted is that of the Balanced Scorecard (BSC). This thesis conducts a case study under a domestic chemical company implementing balanced scorecard, and demonstrates how an organization can use balanced scorecard to integrate its strategy management and performance measurement system. The study illustrates the whole designing and implementing process in detail from the three different perspectives of the company, including headquarters, strategy business units (SBU), and shared service units (SSU). Furthermore, the problems and difficulties encountered and related suggestions are proposed in this thesis as well. These case study results and findings may be generalizable to other companies adopting or considering adopting the Balanced Scorecard as a strategic and management control device.

隨著時代迅速的改變，商業活動的型態也日新月異。人與人之間的距離藉著高科技的發展變得更加接近；許多產品不再需要限於固定地點來從事生產。當「外包」的管理策略自西方興起之後，國內的各企業體也紛紛起而效尤。這種「資源分享、利益共生」的管理概念席捲了當代的學界及產業界。各種有關外包的定義、優缺點、決策、廠商的選擇、外包的管理等等，頓時成為各界研究討論的主題。而產業界在面臨強敵環伺、競爭激烈的全球化競爭之下，發現到如果把企業本身不具競爭力的事務或產品透過有效管理，交給第三者去執行，而企業本身只需要專注於自身最具競爭力的活動，就能把企業體之經濟效益發揮到最大。同時，彼此相關的企業也能透過「專業分工」的方式，各自充分運用內部資源，掌握並發揮核心能力，形成策略聯盟的產業網絡，製造雙贏的局面。在國內探討過的公私營企業外包研究中，對於數位內容產業的討論並不多見。因此本研究採個案研究的方式，深入探討國內一家數位內容軟體廠商之外包現況。結果顯示，內容軟體公司的外包動機主要會考量到「節省成本」與「加快（開發）時程」，而外包項目主要是「非核心技術」的內容。內容軟體公司的外包決策會因應市場及本身成場需求順勢發展，由於沒有實務經驗，因此必須從經驗中學習，包括管理與承包商的遴選。在外包的初期階段，內容軟體公司與承包商之間的關係可以發展出建教合作與單純交易等較為簡易之商業模式。最後對於數位軟體產業在實務上以及後續研究方面提出五點建議。 / With the rapid change of the world, the patterns of business activities have changed dramatically everyday. Arising from the West, many enterprises in Taiwan are inclined to adopt the idea of outsourcing. The main concept of outsourcing is “resource-and-benefit sharing,” which has struck both academic and industrial fields. Various research and numerous speech and lessons have been conducted. Many companies have found that if they outsourced their non-core products or affairs to outside companies through effective management, they would be able to maximize their own economic efficacy. The correlated entities can therefore use their own internal sources to develop their core competence, build business networks, and produce a win-win situation for both parties. There is not much research concerning the outsourcing situation of digital content industry in Taiwan. Therefore, this study tended to, using a case study design, explore the present outsourcing situation of a domestic digital content company. From the results, the main reasons to outsourcing of the digital content company were to reduce cost and shorten the developmental time-span. The outsourced work was non-core skill. In response to the market situation and self-growth of the company, the outsourcing strategy was derived accordingly. Due to the lack of practical experience, the company needed to learn from doing, including outsourcing management and choosing outsourcing partners. In the beginning of outsourcing, the outsourced company and the partners could develop a co-operation relationship between enterprises and universities, and simple buy-and-sell relationship. Suggestions were made for digital content industry about the outsourcing matters and for further research.

目前平衡計分卡為公認最具效力之管理工具，近年來在國內亦開始受到企業界之注意。本研究以國內一被動元件製造商做為研究對象，利用個案研究之方式，探討平衡計分卡制度導入初期之過程。 本研究將導入過程分為「導入前評估」、「實施計畫及進度規劃」、「策略形成」、「策略圖架構」、「衡量指標設計」、「行動方案規劃」等六大部分，再加上「推行過程所面臨之問題及解決之道」。簡而言之，本研究顯示企業如何利用平衡計分卡，有效整合其策略管理及績效評估系統，此研究結果俾作為個案公司及後續企業採用平衡計分卡時之參考。 / In recent years, balanced scorecard has become the most powerful management system. This thesis conducts a case study of an EMI components designer and manufacturer implementing the balanced scorecard. The steps of implementing the balanced scorecard include analyzing demand, planning project, forming strategy, instituting strategy map, designing KPI, and scheduling actions. Furthermore, the problems and difficulties encountered and suggestions related are proposed in this thesis as well. Shortly, it demonstrates how an organization can use balanced scorecard to integrate its strategic management and performance measurement system efficiently. The results and findings of this case study may be as the references to other companies for adopting the balanced scorecard.

University of Macau / Faculty of Social Sciences. / Department of Government and Public Administration

網際網路供商業需求應用以來，Internet上的使用者便大幅提昇，而Internet在商業應用的蓬勃發展，使得Internet的策略價值以及與企業競爭優勢的關係，也逐漸受到重視。電子商務的興起為企業開啟一扇門，而欲在網路時代成功且存活長遠的企業，仍應具備成本觀。電子商務之興起與盛行所帶來的是交易方式及作業流程的改變，而交易方式改變相信定會對其相關成本項目造成影響；成本構造若不同，對成本之管理方式亦應會有所不同。故若能確定導入電子商務後成本結構之增減變動情形，相信對成本管理焦點之掌握是相當有助益的。 有關電子商務之研究文獻皆指出導入電子商務具有許多優點，其中一項即為降低成本，然而目前有些導入電子商務的公司其營業額雖呈倍數成長，但利潤卻未如預期增加。導入電子商務是否真能致使成本減少，亦或是某部分確實減少，但某部分卻超乎預期的增加？而減少的項目為何，增加之項目又為何？本研究之目的即為探討導入電子商務對成本結構造成何種影響，故研究問題為： (1)傳統模式與電子商務模式下之成本結構有何不同處？ (2)為因應電子商務模式下之成本變動，成本管理焦點應如何轉移？ 本研究之課題係在於從價值鏈觀點來探討導入電子商務對成本結構有何影響，並希冀透過一資訊服務業以個案訪談方式及實地實證方式對問題能有一滿意之解釋。經由本研究從價值鏈及成本觀點探討後，發現個案公司透過電子商務方式，確實改變了部分成本結構，但在初期，必須大量投入資本科技軟硬體、教育訓練、認證發行等成本及進行大幅度的企業流程再造活動；然而就中長期而言，不但可以強化企業營運效率，更能進一步加強本身競爭力，而各部門透過流程再造及資訊化的過程更可將多餘的資源運用在附加價值更高的活動上，茲將本研究所獲致之導入電子商務對成本結構影響的結論彙總如下： （1）導入電子商務後人事成本增加 （2）行銷模式改變導致行銷成本減少 （3）導入電子商務使資本科技成本大幅增加 （4）透過金流將使財務成本降低 （5）價值鏈中之主要活動的成本降低，而支援活動的成本增加 （6）人事成本所佔比例增加，行銷支出所佔比例減少 （7）導入電子商務必須配合企業流程再造