本研究主要探討高階經營團隊成員的背景與企業國際擴張策略之間的關係。以高階經營團隊成員的學經歷背景為討論重點，探討高階經營團隊成員國外經驗的有無、教育程度的高低，以及本科專業異質性的程度是否會對企業海外投資金額的多寡與對大陸地區投資的集中程度造成影響。由高層理論可以得知，高階經理人個人的認知基礎與價值觀會成為他們進行策略選擇的依據，因此，要探討企業選擇某一策略的原因時，就必須從其高階經營團隊成員著手。本研究選擇臺灣的電子產業為樣本，以臺灣經濟新報資料庫（TEJ）中產業代碼分別為M2324半導體、M2326光電業、M2328電子零組件與M2329電子通路業等之公司為研究對象，研究時期為2001年、2006年以及2012年。實證結果發現，若高階經營團隊成員的國外經驗愈多，對海外地區（不包含大陸地區）的投資金額愈高；若高階經營團隊成員的教育程度愈高，對大陸地區投資的集中程度愈低；然而，關於高階經營團隊成員主修專業異質性的部分，則並未得出任何顯著之結果。本研究之發現不僅再一次證實過往研究的結果，確定高階經營團隊成員對企業的重要性，更給企業在聘用高階經理人時提供參考，若企業未來有往國際擴展的目標，則應盡量聘用擁有國外經驗的高階經理人，借助其經驗與優勢，讓企業在國際市場上能更有效率且成功地發展。 / This study investigates the relationship between the background of top management team and international expansion. It discusses whether foreign experience, the level of education and major heterogeneity will influence the amount of overseas investment and the concentration degree of investment in China or not. According to the upper echelons theory, personal cognitive basis and value of top managers have an impact on their decision-making process. Thus, in order to understand the reasons why an enterprise chooses one strategy, it is necessary to explore its top management team. Relying on data from Taiwan's electronics industry (TEJ codes M2324, M2326, M2328, M2329), we find that certain characteristics of top management team are related to international expansion. Empirical results show that, if the top management team members have more foreign experience, the amount of overseas investment will be higher; additionally, if the top management team members with higher education levels, the concentration degree of investment in China will be lower. However, concerning the effect of major heterogeneity, it does not find any significant results. In a word, the findings of this study not only confirm the importance of top management team but also provide a reference for a company when employing top managers.

本文主要分別探討家族控制、負債與高階經營團隊薪酬的關係。實證結果發現，根據利益一致效果，家族企業通常會發放較少變動薪酬給高階經營團隊。然而，當家族企業偏離問題較嚴重，且由家族成員擔任高階經理人時，則會支付較高變動薪酬給家族高階經營團隊，此種現象在非電子業中尤為明顯。本文亦探討負債與薪酬的關係，結果發現，負債與高階經營團隊薪酬呈非線性關係，再將負債進一步細分，發現長期銀行負債對薪酬的監督效果高於短期銀行負債及一般公司債。本文也發現相較於非家族企業，負債對高階經營團隊薪酬的監督效果在家族企業中較弱。 / This paper investigates the variable compensation of top management teams. Prior literature suggests that compensation policy can help firms reduce the agency problem between principals and agents. Most of these studies, however, emphasize the agency problem between shareholders and managers, and only a few examine those between controlling and minority shareholders and between shareholders and debtholders. This study investigates the effects of family control and debt on top management compensation, respectively. The empirical results show that, on average, family-controlled firms are associated with a lower proportion of variable compensation, which is consistent with the alignment effect. However, family-controlled firms with greater control divergence and whose CEO is a family member, which gives rise to a central agency problem, pay higher variable compensation to family top management, as evident in the non-electronic industry. Furthermore, the empirical results find a U-shaped relationship between debt and top management compensation. In addition, the monitoring effect of long-term bank debt on top management compensation is greater than that of short-term bank debt and common bond. Finally, the monitoring effect of debt on top management compensation is weaker in family-controlled firms than in non-family-controlled firms.

過往工作生活平衡措施皆著重在對於員工態度、行為或組織績效的影響，甚少從女性的管理階層層面探討，故本研究從董事長性別、工作生活平衡措施、工作生活平衡措施自由使用度三個面向予以探究對於女性高階經理人比例之影響，並以產業別、本國商/外商與公司成立時間作為控制變項，以組織為分析單位進行研究。 本研究針對不限產業的國內企業為抽樣對象，一家公司包含年資至少兩年的1位人資部門人員與3位不限部門的主管或員工協助填答問卷，共收集55家企業，有效問卷252份，並利用階層迴歸分析檢驗研究假說。研究結果歸納如下： 1.董事長性別與女性高階經理人比例呈正向關係。 2.工作生活平衡措施中，受撫養者的照顧服務措施與女性高階經理人比例呈正向關係。 3.工作生活平衡措施自由使用度中，受撫養者的照顧服務自由使用度與女性高階經理人比例呈正向關係。 / In the past, the study about work-life balance practices was focused on the influence on the employee attitudes, behavior or organizational performance, and it was rare to investigate from the perspective of the female management level. So this study is to investigate the effects of the gender of the chairman, work-life balance practices, and the freedom to use of work-life balance practices on the proportion of female senior mangers. The samples of this study are domestic companies from any industry, and each company included a two years of experience expert in human resource and three executives or employees from any department to answer the questionnaires.There are totally 55 companies with 252 valid questionnaires. And this study use hierarchical regression analysis to test the hypotheses. Following are the results of this study: 1. The gender of chairman has a positive correlation with the proportion of female senior managers. 2. In the work-life balance practices, dependent care service has a positive correlation with the proportion of female senior managers. 3. In the freedom to use of work-life balance practices, dependent care service has a positive correlation with the proportion of female senior managers.

2016年全球半導體產值約 3,270 億美元，台灣半導體產值佔全球的23%，繼續蟬聯全球第二大半導體產業大國，排行僅次於美國。此外，台灣以出口為導向，根據我國財政部統計，2017上半年積體電路出口金額占整體出口總值的27.6%，是我國最主要的出口產品，可見半導體產業對台灣的影響力不言而喻。 近年來半導體併購浪潮興起，台灣廠商也無法置身事外，最受矚目非日月光與矽品的非合意併購案莫屬。一般學術論文對於非合意併購案的探討，著重於併購前的動機與併購後的綜效，鮮少討論雙方在併購過程中的攻防。故本研究欲以動態競爭觀點，並考量政府對併購成敗的影響，來找出矽品最後同意日月光共組控股公司之提案的原因，並分析此合併案對全球封測產業所造成的影響。 本研究發現雙方在合併前，應用產品及地區的市場共同性，分別呈現上升及下降趨勢，透過收購矽品，日月光不僅能追趕其主要競爭對手在車用電子的領先地位，更可以降低營收過度集中於北美的風險。另外，雙方在台灣及中國的專利申請數量有下降趨勢，但在美國專利的申請數有明顯增加且資源相似性也呈上升趨勢，故推論日月光收購矽品可鞏固其在北美市場的領導地位。總而言之，雖然日矽合併案被外界視為雙贏結果，但客戶轉單、中國商務部的限制條件及收購溢價偏高可能使得此合併綜效有限。在面對中國封測產商崛起、封測產業的市場集中度上升及半導體產業中下游界限越來越不明確的情況下，雙方合併為必然之勢。 / The worldwide semiconductor market grew 1.1% in 2016 to $338.9 billion USD, in which Taiwan accounts for 23% of the total output. Taiwan continues to rank as the world's second largest semiconductor industry, with the first being America. Taiwan is export oriented, and from the statistical data provided by the Ministry of Finance, the shipment of integrated circuit exports accounted for 27.6% of gross export value in the first two quarters of 2017. This indicates that integrated circuit is an important export product and that the semiconductor industry is of great importance to Taiwan. The recent and unprecedented M&A waves in the semiconductor industry caused major changes and created impact on Taiwanese semiconductor firm. The recent case that drew most attention is the M&A between ASE (Advanced Semiconductor Engineering, Inc.) and SPIL (Siliconware Precision Industries Co., Ltd). While most academic theses focus on the acquiring firm’s motive and post-M&A synergy, the offense and defense strategies during the M&A process are rarely explored. This research aims to focus on reasons why SPIL agreed on ASE’s proposal to form a joint venture holding company and the impact on the global OSAT (Outsourced Semiconductor Assembly and Test) industry after this M&A. This thesis utilized the dynamic competitive perspective and identifies government’s impact on M&A. The study finds that before the merger, the commonality of product shows an upward trend while the commonality of region market presents a downward direction. This merger not only assists ASE to catch up with its leading competitors in the automotive electronics sectors, but also reduce the revenue concentration risk, given that its major sales is in North America. In addition, the number of patents filed by both companies in Taiwan and China has declined, but the number in the United States has increased significantly along with an escalating resource similarity. Therefore, the research concludes that the acquisition of SPIL can consolidate ASE’s leading position in the North American market. To sum up, the merger of ASE and SPIL is regarded as win-win outcome. However, the M&A has risks, such as customer attrition, restriction from The Ministry of Commerce of the People's Republic of China (MOFCOM) and merger overpayment. Such uncertainties may reduce synergy. Nevertheless, in the face of the rise of China's OSAT business, the market concentration of OSAT industry, and the increasingly unclear boundary between the middle and downstream firms, the merger of the two firms is inevitable.