台灣高科技代工製造業在全球攻城掠地，以強大的規模經濟為出發，在國際上以成本競爭建立起今日強大的地位，有別於這些檯面上的大型高科技廠商，其實台灣還有另外一群占據了利基市場的中小型高科技廠商，他們沒有龐大的土地、沒有寬廣的廠房、沒有動輒破萬的員工數，沒有精密計算的財務槓桿，他們運用深耕利基市場的決心，創造了台灣的另一種企業神話。 本研究以此出發，選定利基產業中最具代表性的安全監控產業作為研究對象，從中選出兩間獲利能力最強的代表廠商奇偶科技與陞泰科技，以深入訪談的方式了解兩間個案公司建立核心能力的途徑，並利用哈佛大學Dorothy Barton(1998)出版的專書「知識創新之泉-智價企業的經營」中所指出的核心能力建構模式加以分析兩間個案公司之所以能形成強大核心能力的關鍵因素。 透過二手資料的蒐集與深入訪談，本研究認為兩間個案公司之所以能形成強大、特殊的核心能力，主要與其明確的研發策略、對市場需求的反應與創辦人之背景高度相關，透過創辦團隊引進獨特的經營哲學，於此哲學之上建構具體的研發目標，輔以快速的蒐集市場資訊、與使用者互動擷取需求的機制，個案公司得以主宰安全監控產業。 本研究也指出了整套的核心能力建構流程，供其他位於利基產業的廠商參考，期許台灣未來會出現更多這樣優秀的小規模科技廠商。 / Taiwanese high-tech manufacturing firms stormed the global market with low cost production capability and built solid market share. But there are still some other small Taiwanese high-tech firms that focus on niche markets. They don’t need big assets and large amount of employees, they don’t even use financial leverage to expend their operation. What they depend is the long time focus strategy that assured the high profit and non-replaceable status in their industry. Surveillance digital video recorder market is one of this kind of niche market. We chose two representative companies-Geo Vision and AVTech to do further case study and adapt the core capability building model which published by Prof. Dorothy Leonard Barton in the book “Wellsprings of Knowledge”to demonstrate the way this kind of niche high-tech companies build their core competence. Through this research, we found that the companies built their core capability base on the same pattern. Joint product development with users and market information screening made the case companies learn how to set a R&D goal that fits the expectation of users. Based on this goal, the case companies built their own R&D capabilities with different philosophy that their founders believe to realize the product concept. Through this pattern, the two case companies dominant the DVR industry. In this research we also found that the way they build their core capabilities is highly correlated to the back ground of their founder teams Moreover, we conclude the findings and integrated them into some simple ideas that other companies can adapt to build their own core capabilities.

在學術領域之中，其過去對於新藥產業的研究大多集中於「新藥發展策略」、「產業環境分析」與「智慧財產權策略」等領域，而探討新藥研發各階段之團隊組成與運作模式的研究仍然極少。 本研究以個案訪談法為主要研究方式，深入探討兩家台灣新藥研發公司（包括基亞生技、台灣微脂體），並以『新藥研發流程』與『技術知識特質』兩個構面來探索其對於『新藥研發專案團隊運作』之影響。 所得到的初步研究發現包括： 1. 新藥研發專案各階段中，技術知識路徑相依程度與技術知識系統複雜程度呈現負相關，當路徑相依程度越高時，系統複雜程度則越低。 2. 新藥研發專案隨著階段的推進，專案團隊的組成與結構也會隨之產生變化，臨床前與臨床試驗皆有不同的團隊組成與結構。 3. 技術知識系統複雜程度會影響新藥研發團隊組成的異質/多元程度：技術知識系統複雜程度越高，其團隊組成的異質/多元程度越高。 4. 技術知識路徑相依程度會影響團隊採取何種團隊運作策略：（1）路徑相依程度愈「高」或是愈「低」，專案團隊會傾向採取「自行發展」的團隊運作模式；（2）路徑相依程度為「中」時，專案團隊會傾向採取先執行「初步研發」活動之後，再與外部廠商進行「合作研發」。 5. 技術知識路徑相依程度會影響新藥研發專案各階段的團隊類型：（1）技術知識路徑相依程度愈低，專案團隊會傾向採用「重量級」、「自主型」的團隊運作模式；（2）技術知識路徑相依程度愈高會傾向採用「功能型」、「輕量級」的團隊運作模式。 6. 技術知識內隱化程度愈高，該專案在團隊運作上愈容易將外部成員視為內部團隊，甚至在團隊組成上直接將外部成員納入內部團隊之中。 7. 在臨床試驗階段，試驗主持人的過往經驗為成功關鍵之一。 8. 新藥研發廠商若擁有先導研發的能力，可以減短研發時程與成本。 / Most of previous the studies on pharmaceutical industry have been focused on the development strategy, environmental analysis and intellectual property. Very few of them emphasize the stage of new drug development concerning the project team management. This study uses technological knowledge characteristics (path dependence, complexity, and explicitness) and drug development process (drug discovery, non-clinical, pre-clinical, and clinical ) to explore the effect upon project team management. The result of this study： 1. In every stage of new drug development, the path dependence and the complexity of technological knowledge have significantly negative correlation. 2. When the new drug development project evolves into the clinical stage, the structure of project team will be different. 3. The complexity of technological knowledge can affect the composition of team members. If the complexity of technological knowledge is higher, the complexity of members is higher. 4. The path dependence of technological knowledge can affect the development strategy. If the path dependence is higher or lower, the team members prefer “inner development”. If the path dependence is medium degree, the team members prefer “primary inner development” and then “cooperative research and development”. 5. The path dependence of technological knowledge can affect the team structure. If the path dependence is higher, the enterprise prefers “Heavyweight team structure” or “Autonomous team structure”. If the path dependence is lower, the enterprise prefers “Lightweight team structure” or “Functional team structure”. 6. If the explicitness of technological knowledge is higher, the enterprise intends to recruit team member from outside. 7. In clinical stage, the practice investigator can be key person of the success. 8. If the enterprise has the ability of “primary inner development”, the time and the cost of the new drug development can be reduced.

近年來，策略性人力資源管理被企業視為一項核心競爭優勢，透過人力資源規劃與組織運作結合，以達到企業經營的目的。因此，著重在管理職能對高組織績效影響效果之策略性人力資源探討愈來愈多，而在管理職能之實證研究，也多著重在管理群組對個人工作績效或部門績效之影響，其結果也證明管理職能之良窳確實會對個人或組織績效產生影響，可說明管理職能在企業營運中的重要性。然而，相較於結果面之研究，管理職能之前因面研究卻明顯地不足，少有研究將組織內外之管理措施或活動與管理職能的因果關係作進一步探討，特別是關於影響研發主管管理職能之前置因素探討。因此，本研究將聚焦於影響研發主管管理職能之前置因素，並探討影響管理職能之組織活動與管理措施為何，為企業培育研發主管時，提供具體且有效之建議。 本研究主張企業中的研發主管，因實際參與公司內的管理措施與組織運作，將能強化自身的管理職能。然而，有鑑於過去研究較少針對研發主管職能發展出符合理論與實務看法之分類與內涵，本研究在探究組織活動與研發主管職能之關係前，先行對研發主管職能進行文獻探究，並藉由業界主管深度訪談與專家效度問卷等多重方式歸納出重要之職能群組。本研究將研發主管職能分為三個職能群組與七個職能，分別為專業知能(包括產品發展能力與領導培育能力)、跨界知識轉換職能(包括搭橋溝通能力與知識管理能力)以及資源整合創新職能(包括資源協調能力、策略規劃能力與創新促進能力)。 同時，本研究認為內部與外部組織活動會對不同的研發主管職能產生影響。內部組織活動可分為專業能力的訓練、員工授權、團隊經營與工作指派；外部組織活動則著重於顧客經營活動。與過去研究不同的是，本研究認為除組織內部相關之措施外，研發主管亦應該要對外經營顧客關係，因為透過顧客關係之建立與維持，將能不間斷地接收顧客資訊，以為產品創新之來源，並提高主管個人之管理職能。 本研究以中高階研發主管為研究對象，而為避免相同方法偏誤之發生，由研發主管自評參與組織活動之程度，並由其直屬上司評量該研發主管之管理職能表現。本研究以問卷調查方式進行資料蒐集，共搜集14家公司、119位研發主管與26位直屬上司之資料，並以階層式迴歸分析資料。研究結果如下： (一) 訓練與專業知能為正向關係。 (二) 專業能力訓練與跨界知識轉換職能為正向關係。 (三) 專業能力訓練與整合資源創新能力為正向關係。 (四) 授權程度與專業知能為正向關係。 (五) 授權程度與跨界知識轉換職能為正向關係。 　　本研究另以個別職能為依變項進行分析，研究結果發現顧客經營活動與知識管理能力、創新促進能力呈正向關係。 　　而就上述之研究發現，本研究建議管理者應建立完整且具系統性之管理職能發展計畫，以做為培育現職工程師為日後之研發主管，並應將專業能力訓練、授權與顧客經營活動納入此培育系統中，以確保研發主管具備專業知能、跨界知識轉換職能以及資源整合創新職能等「技術」與「管理」的職能，以因應環境之變化與競爭，為企業永續經營奠定良好的基礎。 / In recent years, strategic human resource management (SHRM) has been regarded as core competitive advantage for frims to respond to uncertain environments. Because human capital can bring innovation into organizations, it is important to select, train, allocate and retain the human resources. Among these human catpial, competency is the essential component representing the knowledge, skills, and abilities. This study focuses on R&D competency, particularly R&D managerial competency. Moreoever, this study investigates the effects of organizational activities on R&D managerial competency to understand the complex relationships among organizational activities and RD managerial competency. This study suggests that R&D managers will be able to substantially enhance their managerial competency by progressively participating in organizational activities. However, fewer research pay attention on the typology and contents of R&D managerial competency, this study explores this construct before investigating its anticidents. The author reviewed R&D managerial competency literature, interviewed seneior R&D managers and analyzed expert opinion questionnaires to categorize R&D managerial competencies into three competency clusters and seven competencies: 1. Competency cluster of professional knowledge and skill  Product developemtn competency  Leadership competency 2. Competency cluster of integrative capacities  Bridging communication competency  Knowledge management competency 3. Competency cluster of optimizing resource and facilitating innovation  Leveraging resources competency  Strategy planning competency  Innovation stimulation competency Meanwhile, this study also claims that involvement in both internal and external organizational activities will have substantial effects on R&D managerial competency. Internal activities herein refer to professional training, empowerment, team management, and job assignment; whereas, external activities emphasize on fostering royal customer relationships. In contrast to pre-existing academic researches, this study suggests that, in addition to internal activities, R&D managers should progressively develop customer relations. The reason is that by understanding customer’s needs and absorbing most innovative ideas would no doubt be the origins of technology innovations. This study focuses on top and middle level R&D managers. In order to avoid common method variances, this study is to match and analyze data collected from 119 R&D managers and their supervisors (26 senior managers in total) of 14 companies in Taiwan electronic industry. Results showed that: 1. Professional training was significantly and positively related to to competency cluster of professional knowledge and skill. 2. Professional training was significantly and positively related to the competency cluster of integrative capacities. 3. Professional training was significantly and positively related to the competency cluster of optimizing resource and facilitating innovation. 4. Empowerment was significantly and positively related to competency cluster of professional knowledge and skill. 5. Empowerment was significantly and positively related to the competency cluster of integrative capacities. In addition, this study analyzes the sub-competency of the competency clusters, and found that customer management is positively related to knowledge management competency and facilitating innovation competency. In sum, this study suggests that organizations should set up an integrated and systematic program for potential engineers who might be competent R&D managers in the future. Furthermore, the findings of this study implies that this program should include professional trainings, empowerment, and customer-relationship management, and to ensure that R&D managers possesses “skill” and “managerial” competencies to make themselves the cornerstones for ever-competitive enterprises and to prepare themselves to be responsive to the constantly evolving environment.

台灣資通訊產業面臨毛利率與獲利屢創新低的困境，但國內部分企業仍能維持高於同業的毛利率與獲利水準，本研究將這類企業稱為「藝匠型企業」，研究問題包括：（1）藝匠型企業應如何定義？（2）藝匠型企業的核心能耐為何？（3）藝匠型企業如何培養與延伸新的核心能耐？有哪些途徑？如何選擇？ 本研究採個案研究法，在手機產業設定五家企業為個案進行分析研究，發現藝匠型企業在擴大事業範圍前，會優先深耕特定領域的技術深度；具有主動實驗未來的精神和常態的知識創造活動，因此能把握先機，優先布局下一階段事業成長所需的技術；和該領域全球龍頭業者有深厚的供應商或客戶關係，除了是穩定訂單來源外，也能掌握或共同定義未來技術趨勢。 因此，藝匠型企業的核心能耐資產不斷提升，具有長期競爭力，而非短線的機運或能力，這也是能維持高水準毛利率和獲利率的原因。 藝匠型企業的核心能耐是實體技術系統、管理系統、員工知識與技能和價值觀的組合，這項組合深受創辦人與經營團隊專長影響，且藝匠型企業傾向以師徒制自行培育人才，員工需熟練公司專屬的流程與常規，這也使得外界不易以挖角形式取得該藝匠型企業的核心能耐。 藝匠型企業傾向朝產業上游延伸新核心能耐，延伸途徑可分為內部研發、外部併購與聯結研發三類；又以內部研發、深度聯結研發最能形成長期核心競爭力。 1. 內部研發是在既有資源（人員、時間、資金）充足、目標是重點新能耐時的第一選擇，通常可形成長期競爭力； 2. 外部併購或合資通常是為了快速卡位（快速取得新核心能耐及市場），併購是完整移轉其他企業的核心能耐，若整合成功可形成長期競爭力，合資則僅移轉其他企業的部分核心能耐，因此通常只是短期競爭力； 3. 聯結研發的速度與成本介於中間，有助於借外界長處、同時培養內部專屬知識。其中強勢網絡的深度聯結研發，表示參與者均投入較強的組織承諾，有機會帶來長期競爭力，弱勢網絡則因多方的組織承諾不同，通常只是短期競爭力。 / While the IT and Telecom Industry in Taiwan generally suffers from low gross-margin rate and profit, some companies still sustain these at a higher level than others. In this thesis, these outstanding companies are defined as “Modern Craftsman Companies.” The aim of this thesis is to find out: (1) How to define “Modern Craftsman Company”? (2) What are the core capabilities of a Modern Craftsman Company? (3) How does a Modern Craftsman Company develop its core capabilities and extend into new ones? What are the paths? How to make the choices? Research was conducted using case studies of five companies in the mobile phone industry. The results show that when Modern Craftsman Companies extend the scope of their businesses, they devote themselves to a certain area of technology and go deep into it. Also, their spirit of actively experimenting along with regular knowledge-creating activities results in their ability of foreseeing great opportunities. Lastly, long and strong relationships with leading suppliers and major clients not only brings stable and sustainable orders, but also help these companies have control over or even co-define the trends of future technology. Thus, Modern Craftsman Companies have an ever-improving core competence position and long-term competence, not just luck or abilities that only work in short-term. This is how Modern Craftsman Companies can keep a higher margin rate and profit rate. The core competence of Modern Craftsman Company is the combination of physical technical systems, the managerial system, employee knowledge and skill, and its values and norms. This combination is deeply influenced by the founders’ and management’s expertise. Because this kind of company tends to cultivate its talents using a mentor system and the employees need to know the process very well, it is very unlikely that it obtains its core competence simply by recruiting its staff. Modern Craftsman Companies tend to extend their core competence to the up-stream part of the industry. The paths include internal development, acquisition & development, connection & development: 1. Internal development is the best choice when the existing resources (human resource, time, capital) are abundant and the new aim is an important competence. 2. Acquisition and joint venture are usually used to gain a new core competence and market quickly. Acquisition is to have the other firm’s core competence fully transferred. If successfully integrated into the acquirer itself, a long-term competence is formed. Joint venture is used only to transfer some part of the other firm’s competence and usually merely brings short-term competence. 3. Connection & development works somewhere between the two above-mentioned principles in perspective of speed and cost. It helps by utilizing external expertise as well as developing internal exclusive knowledge. When the network of connection & development is strong, the involved parties commit more and therefore there is greater chance of forming long-term competence. On the other hand, when the network is weak, commitments on different parties bring only short-term competence.

本研究係研究技術策略規劃的規劃過程，由探討技術策略規劃的內容模式，歸納出技術策略規劃過程的幾個重要課題及活動，包括技術狀況的瞭解、關鍵技術的掌握、技術預測、技術來源、技術需求分析、技術創新機會、技術策略和經營策略的配合、技術策略融入企業整體策略規劃，並建立技術策略規劃的程序過程。 　　本研究以國內重視科技及研發的公司為研究對象，探討這些企業技術策略規劃的實際程序，以及這些企業在技術策略規劃重要課題活動的管理，最後並嘗試建立一技術策略規劃的整合性工具方法－技術策略規劃檢核表，以為一個公司有心從事技術策略規劃的輔助性工具。 　　本研究的結論包括：公司型態影響公司的技術策略規劃，跨國公司集團、或公司集團的子公司，技術策略規劃時自由度較低，本土公司技術策略規劃時自由度較高；經營資源多的公司，在從事技術策略規劃時較能不受限制，經營資源少的公司限制多；創新型的公司技術策略規劃的過程，強調快速、彈性，製造型的公司技術策略規劃的過程，強調有步驟、循序漸進；技術策略規劃應由公司的事業中長期計畫、研發中長期計畫展開，確保技術策略規劃融入事業整體規劃中。

建立適當的資本投資決策，對於企業未來的發展具有深遠的影響。如何能擬定出適合的資本預算計畫，以增加公司的成長機會與競爭能力，便是當前重要的課題。本論文以三個階段探討企業投資歷程中所具有的實質選擇權評價：包括對於計畫案擬定之初期，進行投資機會價值評估的實質成長選擇權。以及針對投資計畫開始進行時，管理者所擁有的各種管理彈性，如遞延、擴張、縮減與暫停投資的決策彈性，進行多重實質選擇權的價值評估。最後，針對未能順利成功的計畫案，管理者擁有將其永遠放棄，以收回投資成本殘值的實質放棄選擇權價值進行評估。 　　對於第一階段的成長選擇權價值評估，本文已建立出同時考量標的資產與投資成本隨機變動，以及標的資產存在不連續跳躍特性下的選擇權評價封閉解，結果可用來評估計畫方案擬定初期的實質成長選擇權價值。若將評價模式中的參數進行限制，則本模型將會分別退化至Black and Scholes(1973), Merton(1976), Fischer(1978), Margrabe(1978), McDonald and Siegel(1985)等重要的選擇權評價文獻，可知本文已獲致較一般化的評價模型。 　　在第二階段的多重實質選擇權價值評估，本文採用Trigeorgis(1991)所建立的對數轉換二項評價模式，再加入跳躍模型的考量，以符合科技產業所具有的創新、競爭特性，期較能合理評估其價值，也獲得了較一般化的評價模式。再者，本文以模擬方式對於管理者在投資計畫的進行過程中所擁有的遞延、擴張、縮減以及暫停投資等彈性決策價值進行評估，以彰顯出利用實質選擇權評價方法進行彈性決策價值評估的必要性。由數值分析的結果得到，當多個實質選擇權同時存在時，其間將產生不同程度的交互作用，因此並不能直接將個別價值予以加總來求算整體的實質選擇權價值。不過，每項管理彈性的加入對於整體價值的增加皆具有正向貢獻。 　　對於第三階段的放棄選擇權價值評估，本文建立同時存在多項投資方案下的實質放棄選擇權評價模型，結果可用來評估研發計畫方案未能成功時的實質放棄選擇權價值。此外，本文進一步對於此評價模型進行數值分析，並將所得到的結果歸納如下：(1)方案間價值變動相關係數對於實質放棄選擇權價值的影響上，有相關係數越高時，實質放棄選擇權的價值就越高的現象。(2)殘值回收比率較高時，若採取較多的投資計畫方案，將可以獲致較高的實質放棄選擇權價值，此結果可作偽管理者在選擇備抵方案數目時的參考。(3)對於敏威性分析的探討，發現到當殘值增加、利率下降以及剩餘期間較長時，實質放棄選擇權的價值是增加的，此現象與賣權特性結果一致。 　　因此，本文針對企業投資歷程中所具有的實質選擇權評價進行深入探討，分別建立選擇權評價模型，也獲致了較以往模型更一般化的評價結果。並於各評價模型建構完成後，輔以數值模擬與敏感性分析，以進一步說明本文所建構模型之一般性與合理性。最後，希望此結果有助於日後企業對於投資價值評估時之參考，並可彌補此類研究文獻的不足。 / This dissertation presents three essays, each provides a general real option pricing model. In the first essay, we derive a generalized option pricing formula for the case of the underlying asset and exercise price both being driven by a mixture of continuous and jump diffusion processes. Our pricing model is a generalized version of Black and Scholes(1973), Merton(1976), Fischer(1978), Margrabe(1978), and McDonald-Siegel(l 985). And each of the historical model is shown to be a special case of ours. We then use the model developed in this article to evaluate real growth options where the underlying assets follow jump diffusion processes. The second essay develops a multi-option pricing model incorporating jump characteristics. The model we provide here can be used to value various types of flexibilities, including the option to defer, the option to shut down, the option to contract, and the option to expand. Based on our numerical results, we find that the model can deal with the interactions among these options. The third essay considers an abandonment option on the maximizing value of several investment projects. Here we develop a model to evaluate R&D projects that may not be accomplished. We show that both Black-Scholes's model and Stuiz's model are special cases of ours under certain restrictions on parameters. From the simulation results, we find a positive relation between the correlation of project value changes and the value of the real abandonment options. Furthermore, our simulation results show that the higher the percentage of recovering salvage value, the more number of investment projects should be carried out. The result we find can help managers to choose the better backup projects. Our sensitivity analysis shows that the value of the real abandonment options increase when the riskless interest rate decreases, and at the same time the salvage value and the time to maturity increase.

我國自民國87年起實施「未分配盈餘加徵10%營所稅」，已有多位學者研究兩稅合一稅制與企業投資之關係，但針對未分配盈餘加徵稅負對企業投資意願的影響，迄今尚未有以『實際加徵之稅負資料』進行實證研究探討。本研究以未分配盈餘加徵稅負對企業投資支出之影響為主軸，並進一步分析當『產業』不同或『公司規模』大小不同時，未分配盈餘加徵稅負與企業投資的關係。除此之外，將企業投資分為固定資產總額投資、固定資產淨額投資及研究發展支出。 實證結果發現：(1) 未分配盈餘加徵稅負與固定資產投資及研究發展支出之迴歸係數為負值，且當投資為固定資產投資總額及固定資產投資淨額時，達統計上的顯著性。且由數據發現，電子產業研發費用較非電子產業高出5倍之多，因其仰賴高額研發支出，故需較多保留盈餘以因應投資需求；實施未分配盈餘加徵稅負後，電子產業實際加徵之未分配盈餘稅負較非電子產業為高，因此當政府增加未分配盈餘加徵稅負之制度，對電子產業衝擊較大。 (2) 由樣本超過200間的五大產業中發現，其投資支出與未分配盈餘加徵稅負的迴歸係數大致呈負值，且電機機械業、電子產業及建材營造業的迴歸結果達統計上的顯著性。(3) 本研究將企業依總資產規模不同分為四大組，發現當公司規模最小與公司規模最大時，此兩個組的企業，未分配盈餘加徵之稅負愈高，其固定資產投資之金額愈低。上述未分配盈餘稅負與投資的關係，可發現多數企業視未分配盈餘租稅成本為重要之投資決策考量因素，此一研究結果可提供政府制定稅務政策之參考。

人類經濟活動重心之變革推動著產業競爭的樣貌，於二十一世紀的今日，知識已成為經濟活動中最主要之價值驅力，與之相應的，產業中智慧財產層面的競爭也逐漸受到重視，發展至今，智慧財產已深入產業鏈且細化為各種以智慧財產運用為中心以創造獲利之企業。 半導體產業於台灣經濟發展之推進中佔有關鍵性之地位，隨著台灣廠商在全球產業鏈中扮演的角色重要性與日俱增，難以避免必須因應半導體產業中由智慧財產所造就的新興商業模式，其中，智慧財產研發公司拋棄舊有以生產製造為主之商業模式，開創以知識為本的競爭場域，並挾其智慧財產進行全球化的授權以及訴訟，扮演著遊戲規則的創造者，尤其記憶體產業之兩大智慧財產研發公司Rambus Inc.以及Tessera Technology Inc.，自2000年起不斷於全球提起專利訴訟，對整體產業乃至於台灣廠商帶來無法忽視之影響。 本研究試圖建立分析智慧財產研發公司之架構，亦即由該等公司之策略演進出發，宏觀的了解其於變動的競爭環境中如何發揮企業優勢；其次，以公司策略定位為基礎，進一步推動資源投入之分配，並形塑商業模式的產生；最後，本研究萃取智慧財產研發公司商業模式中較具特色且影響廣泛之訴訟階段，藉由記憶體產業中之個案分析比較之方式進行深入之實證研究，以管窺該等公司之專利運用模式，期能透過提升對於智慧財產研發公司策略定位、商業模式以及訴訟模式之了解，活化企業智慧財產之管理，並提供台灣廠商面對專利授權與訴訟時因應之基礎。 / The revolution of economic activities of human beings has been the force behind the changing format of competition among industries. In the contemporary 21st century, knowledge has become one of the most valuable forces in economic activities; correspondently, the competition strategy of intellectual property also seized much attention. As of today, intellectual property has already been integrated in each and every industry chains and developed into various enterprises which earn profits by operating it. Semi-conductor industry played an important role in the process of Taiwan’s economic development. As Taiwanese companies claim more crucial roles in the global industry chain, they are inevitably forced to deal with the new business model established by the creation of intellectual properties. Among them, intellectual property development companies have withdrawn from old business model of production and manufacturing and create a new competition field on the basis of intellectually properties. Intellectual property development companies engage in global wide license and litigation, acting as the rule-maker within the new frame of competition. Rambus Inc. and Tessera Technology Inc. are the two leading intellectual property development companies which brought lawsuits internationally since 2000, creating serious impacts on both the entire industry and Taiwanese companies. This research aims to establish an analytical framework to observe intellectually property development companies, starting from the progress of strategy, try to understand how to exercise their advantages in the ever-changing competitive business world; furthermore, based on business strategies, this research look further into the distribution of resources and the creation of business models; lastly, this research closely examines the litigation phase of the business model of intellectual property development companies by comparative case studies, in order to conclude the operation pattern of patents of such companies. With further exploration on the strategic positioning, business model and litigation pattern of intellectual property development companies, this research provides not only a deeper understanding on the management of IPRs but also a framework for Taiwanese companies to cope with patent licenses and litigations.

本文的研究主題為利用實質選擇權的觀念，來協助手機ODM廠商計算並評估各種專案的投資效益，或採取適當的方法提高投資效益。 實質選擇權很適合用來分析具有高度不確定性的計畫的投資價值。一般的廠商自行做研發，是新產品研發的實質選擇權買方。但ODM廠商是幫客戶做研發，產品開發專案的決定權通常在客戶手上，ODM廠商變成新產品研發的實質選擇權賣方。所以要計算ODM廠商的研發專案的投資效益，會和傳統的方法不太一樣。 本文設計出一種分析方式，將ODM廠商提供的”設計與製造的整合服務”中間隱含新產品研發的選擇權賣權的成本估計出來。這些成本，會導致整個ODM的研發計畫的投資價值下降，尤其當產品風險高的時候更嚴重。研究結果發現風險愈高的產品越不適宜由ODM廠商來開發。風險較低的成熟產品則非常適合交給ODM廠商來開發。 另外本文利用這種分析方法，比較各種型式的手機專案的預期投資價值與機會成本，以提供管理者在比較與選擇不同專案時參考。也利用這種方法來分析手機ODM廠針對智慧型手機研發上的各種策略對投資價值的影響，以提供管理者在排定策略優先次序時參考。 / The Real Options approach has recently been growing in popularity in the valuation of R&D projects. It can help to evaluate the chances and risks of R&D investment by reflecting the values of of timing and operational flexibility. In most cases, these investments can be treated as “buying Real R&D Options”. However, the R&D projects of ODM (original design manufactor) companies are quite different. They “sell Real R&D Options” to their Brand-Name customers. To sell Options will increase the risks, so it’s definitely not free. This research utilizes the Real Options concept to evaluate the cost of these Real Options sold by Mobile Phone ODM companies to their customers. With this information, ODM companies can have a reasonable finaicial analysis before they sign the contacts based on market risks and opportunities. Futhermore, in this study we design a method to compare different types of projects based on the Real Options analysis. Companies can prioritize projects based on the results of the analysis. We also propose several approachs to increase the value of these R&D investments by reducing the cost of the Real R&D Options they sold.

本研究主要探討服務創新所具備的關鍵成功因素與所影響的企業經營績效指標的評估架構。並進一步探討影響企業經營績效指標的服務創新關鍵成功因素間的比例權重。 本研究歸納相關次級資料後進行分析，並採用「量化研究」方法-AHP層級分析法，建立「服務創新關鍵成功因素與經營績效評估架構」。再針對台灣進行服務創新且擁有自有品牌的製造業進行專家問卷以探討「服務創新關鍵成功因素與經營績效」各因素的權重關係。 研究結果顯示： 一、 整體台灣進行服務創新且擁有自有品牌的製造業，其四大服務創新經營績效主要影響因子相對權重，依重要程度排序以「顧客滿意度」（0.405）為最高，其次是「顧客忠誠度」（0.339）、「外部服務價值」（0.139）、「內部服務品質」（0.114）。 二、 整體台灣進行服務創新且擁有自有品牌的製造業，其影響服務創新事業經營績效的服務創新關鍵成功因素重要性前六名，以「根據品牌精神創造新的服務價值主張」（0.176）為最重要的服務創新關鍵成功因素。再依序為「顧客感受的產品與服務的品質」（0.113）、「消費前後顧客感受到企業行銷服務品質」（0.101）、「對服務創新事業的持續性投資與承諾」（0.089）、「具有競爭力的產品與服務的價格」（0.079）、「在服務體系中維護價值共創共識與技術傳遞機制以維持企業在價值體系中的地位」（0.074）。 最後，本研究根據研究結果進行理論及實務意涵的討論，並提出後續研究建議。