Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/24950
標題: 企業成長策略與長期經營績效分析 - 以美國某工具機廠商為例
Corporate growth strategy and long-term performance analysis -A case study of a U.S. machine tool company
作者: 王聖惠
Wang, Sheng-Hui
關鍵字: 併購;M&A;工具機產業;綜效;股價;synergy;machine tool industrial;synergy;stock price
出版社: 高階經理人碩士在職專班
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摘要: 
近年來總體經濟環境變化越加快速,許多手上具有現金餘裕的大型企業,紛紛展開併購活動,以較低成本取得各項關鍵的互補性資源,藉此達成永續成長之目的。許多企業皆採取併購式成長策略,以達到快速成長的目標,本研究即以近年併購案件盛行的工具機產業為例,從中選出2家採取不同成長策略的廠商,探討其差異點;同時進一步深入探討採取併購策略的廠商,相較於內部資源成長的廠商(Hurco),其併購後實際的營運績效表現,以及併購後各功能層面整合的狀況,藉此歸納出工具機產業最適的成長策略,以及分析個案公司(Hardinge)併購後長期經營成效。

This study is to discuss what would be a better strategy for enterprises’ long-term growth, continuous and advanced development. In view of the global economic and industrial rapid and dramatic fluctuation, leading corporations or multinational enterprises are seeking alternate and variable corporate strategies to grow, in which, most visible strategy is to merge and acquisition (M&A). The study focuses in the machine tools industry to understand what their performances are presented through the capital market indices and financial statement ratios. Two US based machine tools companies that implemented different corporate strategies are studied to investigate what the performances are presented based on variant strategies. One enterprise (i.e., Hardinge) adopted merger and acquisition (M&A) strategy, the other (i.e., Hurco) selected inward resource to grow. Furthermore, this study is to dig out more how the impacts are in different functions throughout integration post to M&A. Finally, this study concludes a probable better growth strategy for a machine tool company, and brings out Hardinge’s long-term performance pictures post to implementation of each significant M&A strategy.
URI: http://hdl.handle.net/11455/24950
其他識別: U0005-0508201318084200
Appears in Collections:高階經理人碩士在職專班

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