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noneHuang, Jen-Shan 23 August 2008 (has links)
Global telecommunications liberalization and a series of policies continually promoted by the government have contributed to comprehensive liberalization of the domestic telecommunication market. In addition to complying with the national telecommunication policies, the major duties of Chunghwa Telecom are to create corporate value and maintain sustainable operation following privatization, as it confronts rapid advancement in telecommunication technologies, a liberalized market, a changing operational environment, and intensive competition from aggressive competitors. Hence, Chunghwa Telecom needs to address the important challenges in creating a new competitive edge, developing new operational concepts, designing and implementing corporate strategies, utilizing resources, and enabling sustainable development.
This study offers an analysis and discussion on Chunghwa Telecom¡¦s corporate competitive strategies following its privatization, as well as on its strategies and financial evaluation in the case of merging Senao, a distributor. SWOT and BCG Matrix are used to analyze the strategies adopted by Chunghwa Telecom, types of its business units, its relative market position and competitive situation, in order to explore the strategy implementation options, optimal allocation and utilization of financial resources, and development direction, to help this company fulfill its corporate strategies. Moreover, the results obtained through evaluation and analysis of the merger and acquisition strategies adopted in the merger and acquisition case are used to verify whether the value and implementation of these strategies correspond to the suggestions provided in the analysis using BCG Matrix, for reference on future planning of enterprise development strategies. The conclusions made in this study are summarized below:
1. Chunghwa Telecom has a solid corporate foundation, relative advantages, excellent development opportunities, and outstanding business units, which provide an advantageous foundation for continual development. Its strategic business units (SBU) are mostly cash cows that can generate great cash flow. There are two stars: broadband service and circuit lease, and one question mark: IPTV. Regarding corporate strategies, the strategic considerations by Chunghwa Telecom in maintaining the advantages of its cash cows (fixed network and mobile service), increasing their competitiveness, and maintaining their relative market share, are therefore necessary and cannot be ignored.
2. In addition to its leading position in market share, Chunghwa Telecom has quickly entered the distribution market by its successful vertical integration with a communication product distributor on the basis of a long-term strategic alliance. The efficient merger and acquisition strategies and optimal utilization of resources create a win-win situation.
3. Under the guidelines for SBU distribution, the benefit gained from the case of merging Senao is higher than that of other investment cases, as the basis of the cooperative strategic alliance and implementation of the strategies regarding utilization of financial resources and operational personnel contributed to fulfilled corporate strategies and a new corporate value. This case can therefore serve as reference for future investment.
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The Effect of Merger & Acquisition Strategies on Stock Price¡ÐFocus on Acer, Asustek, and Hon HaiCheng, Wen-wei 10 June 2009 (has links)
Taiwan is an economical body whose major profit is from exporting products. In recent years, electronics industry is becoming the most important role in the exporting trade and makes low profit by manufacturing products for international company and brand. According to the theory of smile curve that invented by Mr. Stan Shih, a founder member of Acer, manufacturing always locates in the bottom of the curve and makes lowest profit. Moreover, in the both high ends are brand (R&D) and marketing
(sale/ after service). If the companies would like to climb from bottom to high ends, taking merger and acquisition strategies is the fastest method. Acer and Asustek try to build up their own brands, and Hon Hai, a leading foundry company in Taiwan, wants to enlarge scale, reduce cost, they all use merger and acquisition strategies to achieve their goal rapidly. Hence, the study is focus on Acer, Asustek, and Hon Hai.
Through short-term, middle-term, and long-term changes of stock price, we can understand how M&A patterns, amounts, and ways in M&A strategies influence result of M&A. Adopt multiple regression methodology to analyze these above-mentioned factors, and find the factors that influence the result of M&A from empirical studies. The effect of M&A patterns, amounts, and ways gradually weaken. Due to the theory of behavior finance, we may get an inference that there is overreactions or underreactions (momentum effect) in short-term changes of stock
prices. But the momentum effect passes off over time.
In addition, with Porter¡¦s five force analysis, advice that the company should analyze the competitive intensity in the industry, and develop its core competence. Then taking adequate M&A strategies, and grasping the timing of market can help firms grow up quickly, and get shareholders¡¦ support wholeheartedly.
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Transnational Merger and Acquisition to Human Resources Management of Functions An Study of Foreign Banks in TaiwanChiu, Husan-fu 18 June 2009 (has links)
Foreign business bank for pursue growth their and survive, adopt outside grow up strategy - make transnational merger agitation sweep across the whole world from American-European countries; Local banks and financial institution are amalgamated successively since 2007 in Taiwan, make this research M&A the discussion of the strategy of human resources management about the transnational financial group, plan to probe into together to the component of relevant human resources strategy while M&A.
M&A in different stages of the local bank through foreign business bank, the role and adopting the human resources strategy that human resource department acts, make a analysis and make a self-criticism, M&A abroad as financial circles of our country or financial circles of our country of merger and acquisition of other foreign business banks, the human resources strategy of getting on the transnational merger and acquisition of financial services industry are correlated with the normal reference that adjust, in order to offer my humble opinion of several improvement for transnational merger of the financial services industry. Sincere as described above, originally research and propose the main research purpose: 1. Foreign business bank consider what it will be factor while being managerial while being other to human resources management in transnational merger and acquisition¡F2.Before M&A, the human resources management strategy which both sides adopt in management¡F3.While M&A the human resources management strategy which both sides adopt in management¡F4.After M&A, the human resources management strategy which both sides adopt in management. In this research, go on by way of interview of case mainly, it is two foreign business banks altogether and accept interview, hope in can have more scholars go on to study field this while being in the future too.
This result of study points out, should be participated in M&A trade activity in the whole journey soon in the previous administrative department of human resources of merger and acquisition, act strategy plan role, because human resources management strategy can reduce merger and acquisition problem of course take place effectively; Cooperate with the capital of human in advance to check information at the time of merger and acquisition, can find that hide the factor that destroys merger and acquisition and succeeds ahead of time, sketch the contours of company's development plan and wish the scene in the future, in order to consider the policy which organizes adjustment completely, can increase key personnel's commitment; Cooperate with the implementation of the score card of the equilibrium to grasp the execution effect planned in merger and acquisition and feedback chasing after merger and acquisition? Revitalize management strategy and direction of new organization, enable all efforts in human resource department to connect to the milestone, guarantee the procedure can focus on and accomplishes the task of M&A in right time continuously.
So this research proposes, support human resource department to give play to the strategy partner role in initial stage for merger and acquisition, participate in M&A the course in the whole journey, can give play to the productivity of organizing effectively, reach and M&A the comprehensive result.
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A Case Study on The Synergy Effect of Yageo's Acquisition of Philips Passive Component DivisionYang, Yin 25 July 2009 (has links)
As is known to all, Yageo plays a decisive role in passive component industry in the world. In 1991, Yageo¡¦s capital was only estimated NT$ 400 million. A series of acquisitions of not more than 10 years, Yageo¡¦s capital has reached NT$ 14 billion. It grows more than 30 times. Thereinto, the most famous and controversial issue was Yageo¡¦s ??650 million (Around NT$ 18.8 billion) acquisition of the passive component division of Philips in 2000. At that time, Walsin Technology quoted 8 billion. Why were the value evaluations of acquiring the passive component division of Philips on the 2 leading companies of passive components diametrically opposed? This study aims at exploring the effectiveness of this acquisition case at high price.
In the early stages of Taiwan's passive component industry, Taiwan fell behind Japan, Europe and America in technology. In order to catch up with advanced foreign technology expeditiously, expand the market share, and become a global leading company from local Taiwan, acquisition and strategy alliance are very common method strategically. Nevertheless, through many literatures, we find that actually successful examples of acquisition are not many. Specially, Yageo¡¦s acquisition of the passive component division of Philips is that big beats small. Furthermore, transnational acquisition involves with different business philosophy, management system and corporate culture. Success of acquisition becomes more difficult. In terms of corporate managers, the most important responsibilities are to lead the company's growth, enhance shareholder value, bring prosperity to the community and provide more opportunities for employment and entrepreneurship. This case was studied from pre-acquisition in 1997 to post-acquisition in 2004 on each indicator for analysis and comparison to explore the gains and losses of whole acquisition.
When enterprises are in the process of development, acquisition is absolutely one of the strategy options. However, how does acquisition strategy create the maximum value? The wisdom and decision of enterprisers will be strictly tested by market and investor. We hope it can provide usefulness for enterprisers in Taiwan to execute transnational acquisition by exploring this acquisition case.
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Circuit Design of DS Spread Spectrum ReceiverKuo, Che-Yu 09 September 2009 (has links)
Traditionally in CDMA system, selective rake receiver is the popular method of
detection. When used in DS-UWB system, the complex in door environment will
increase the channel paths. As the channel paths increase, the more fingers which are
part of Rake receiver will increase. It will be difficult for hardware implement when
consider the operation of channel estimation and Rake receiver. And it is unfavorable
for hardware design.
In this thesis, we will use partial Rake receiver to replace selective Rake receiver.
Channel estimation is implemented by template the receiver signals within 2 bit time
window length. The performance is acceptable and the hardware complexity is
reduced. When implement the channel estimation, we combine some blocks of
acquisition and channel estimation for reducing hardware complexity.
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The Influence of Intentional and Situational factors on Enterprise Modelling Tool Acquisition in OrganisationsStirna, Janis January 2001 (has links)
<p>Enterprise Modelling (EM) tools are an important part ofevery EM application project. Continuous evolution of modellingmethods therefore requires efficient EM tool support. Extensiveefforts have been devoted to developing new EM tools andmodelling techniques. Considerably less attention has been paidto the aspects of acquiring and introducing EM tools inorganisations. Our grounded theory study shows that thisprocess is far from simple. It is determined by theorganisation's intentions regarding EM and by the situation inthe EM user organisation. As a contribution to this, we presentan EM tool acquisition process, which focuses on selecting anappropriate EM tool acquisition scenario for an organisation.This process has the following stages - assessing theorganisation, choosing an EM tool acquisition strategy, andfollowing the EM tool acquisition strategy. We support theprocess of evaluating the situation at hand by providingguidelines for assessing intentional and situational factorsthat influence the use of EM tools.</p><p>We also outline EM itself, along with its applicationprocess, and describe possible sources for gathering therequirements for an EM tool-set. Major requirements categoriesare discussed and analysed with respect to the goals andproblems regarding EM tools. Each category of requirements canbe satisfied to a certain degree, depending on theorganisational needs and various situational factors.</p><p>This grounded theory study provides two main contributions.Firstly, it proposes a systematic approach for EM toolacquisition supported by a set of guidelines.The approachenables an organisation to assess its needs of EM tools and itsown appropriateness for EM tool usage. As a result, an EM userorganisation is able to choose an EM tool acquisition strategythat meets the situation it faces. This is a contribution tothe overall success of practical use of EM methods and tools.Secondly, it provides an important baseline for future researchand theory building within the area of EM tool adoption andapplication. It also gives valuable information andrequirements for development of new EM tools and relatedservices.</p>
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Interrelationships among prior knowledge, prior beliefs, and language proficiency in second language listening comprehension /Chung, Hyun-sook, January 1999 (has links)
Thesis (Ph. D.)--University of Texas at Austin, 1999. / Vita. Includes bibliographical references (leaves 171-186). Available also in a digital version from Dissertation Abstracts.
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The nature of parent language prompts in early language developmentFritz, Dana R. January 2000 (has links)
Thesis (Ph. D.)--University of Missouri-Columbia, 2000. / Typescript. Vita. Includes bibliographical references (leaves 98-107). Also available on the Internet.
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Effects of text structure-based knowledge and strategies on second language expository prose comprehension /Chun, Ka-wai, Cecilia. January 2000 (has links)
Thesis (Ph. D.)--University of Hong Kong, 2001. / Includes bibliographical references (leaves 261-310).
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An investigation of the sentence interpretation strategies among Chinese-English bilinguals in Hong KongYeung, Pui-sze. January 2001 (has links)
Thesis (M. Phil.)--University of Hong Kong, 2001. / Includes bibliographical references (leaves 192-198).
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