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研究生: 張如瑩
Chang, Ju-Ying
論文名稱: 建築開發商差別投資習性與慣例之研究-以高雄市為例
Research on differences in investment habitus and conventions of developers – a case study on Kaohsiung City
指導教授: 謝宏昌
Hsieh, Horng-Chang
學位類別: 碩士
Master
系所名稱: 規劃與設計學院 - 都市計劃學系
Department of Urban Planning
論文出版年: 2005
畢業學年度: 93
語文別: 中文
論文頁數: 99
中文關鍵詞: 建築開發商不確定交易成本慣例高雄市社會網絡
外文關鍵詞: convention, transaction cost, social network, Kaohsiung City, uncertainty, developer
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  •   都市計畫成敗的關鍵在於計畫的嚴謹以及計畫的可施行性,隨著各地方發展節奏與需求的不同,加以公部門財政普遍吃緊,都市計畫已非公部門片面操作可以完成。吸引民間資金的投入成為都市計畫落實與否的重點。過往國內學界對於都市發展政策的探討多側重於公部門的獨斷執行,而本研究認為瞭解民間資金的流動傾向及企業的投資開發方式亦有其必要,是以興起研究建築開發商經營治理方式的動機。

      在訊息不充分的背景下,建築開發商無法悉知他人行動、預測未來市場的變異,且難以詳實安排未來的投資計畫,不確定性使建築開發業具有風險以及龐大的交易成本;為了降低交易成本其企業組織結構精簡,須仰賴大量分包策略以完成開發活動。是以,開發商的行動並非單一企業的考量,而是鑲嵌於社會網絡之中。研究發現,不同規模開發商在財務運作的考量上有顯著差異,因而有差別經營慣例。大型開發商重視個案獲利,有固定投資的產品,多與相關上下游廠商長期合作、建立互信關係,行動網絡穩定;事實上,穩定的網絡構成牽制,使其行動具有高度一致性。小型開發商則傾向從土地思考產品內容,視個案策略性聯繫不同廠商或彈性建立差別契約,其網絡結構較不穩定,開發過程經常發生動態的調整,行動變異大。中型開發商雖有慣常生產的產品,但亦會將各種有利可圖的個案納入投資考量,其網絡穩定程度介於大型與小型之間。差別財務考量與差別經營慣例使開發商有差別投資模式,反映於產品類型、規模以及價格的制訂之上。

     The key to successful urban planning lies in the preciseness and practicability of the plan. With regards to the differences in the pace of development requirements in various localities, and the fact that the public sector is financially strained, urban planning can no longer be accomplished by the public sector single handedly. Attracting private investment has become crucial in the implementation of urban planning. The research in the past mostly focused on the single-handed implementation of the public sector, whereas this research found that understanding private capital flow tendency and corporate investment is also necessary. Therefore this research looks into the developers’ corporate governance.

     Against the backdrop of information asymmetry, developers cannot be fully informed of others’ activities, and hence cannot forecast future market changes or make specific future investment plans. Uncertainty creates risks and great transaction cost for the development industry. In order to lower transaction cost, the organizational structure of the developers has to be streamlined. The development projects in turn depend heavily on outsourcing. Therefore, the activities of a developer concern more than one single corporation; instead, its activities are embedded in the social network. The research found that the financial concerns of developers of different scales differ substantially, hence different operational conventions are formed. Large development companies focus on profitability of each case. They invest in a fixed range of products, and have commonly established long-term and trustworthy partnership with related vendors in the supply chain. Their activity network is stable. In fact, stable network creates containment, and results in highly consistent activity of the developers. Small-sized developers tend to come up with their product content based on the land slot, and strategically connect various vendors or flexibly draft suitable contracts. Their network structure is relatively less stable. There are usually dynamic adjustments during the development process, and the behavioral patterns vary greatly. Middle-sized developers, although having a stable product range, would still take various profitable cases into consideration when investing. The level of stability of their network ranks between that of large and small developers. The differences in financial considerations and operational conventions result in the different investment pattern of the developers. The differences in investment pattern are reflected in the product types, scale of the products and product pricing.

    第一章 緒論 1 第一節 研究動機與研究目的 1 第二節 研究內容 2 第三節 研究流程 4 第二章 文獻回顧 7 第一節 交易成本 8 第二節 網絡理論 10 第三節 經濟慣例 12 第四節 公司治理 14 第五節 建築開發商的投資行動 15 第三章 研究設計 23 第一節 分析架構 23 第二節 研究設計 24 第三節 資料分析與書寫 28 第四章 研究發現(一)高雄市不動產市場與建築開發商組織結構 31 第一節 高雄市推案市場 31 第二節 個案開發流程與相關上下游廠商 38 第三節 高雄市建築開發商的組織特性 49 第五章 研究發現(二)高雄市建築開發商的投資模式與經營慣例 55 第一節 土地開發 55 第二節 產品定位 63 第三節 營造施工 71 第四節 產品銷售 77 第六章 結論與後續研究建議 81 第一節 結論 81 第二節 討論與後續研究建議  86 參考文獻 89 附錄 91

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    二、中文雜誌期刊(按筆劃排列)
    工商時報,2004/06~2005/04。
    今週刊,2004/11~2005/04。
    財訊雜誌,2004/06~2005/04。
    經濟日報,2004/09~2005/04。

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    四、相關法令(按筆畫排列)
    1. 《公寓大廈管理條例》,民國92年12月31日修正。
    2. 《公寓大廈管理條例施行細則》,民國85年10月2日公布。
    3. 《成屋買賣契約書範本》,民國90年9月3日頒行。
    4. 《預售屋買賣定型化契約應記載及不得記載事項》,民國90年9月3日頒行。
    5. 《都市更新條例》,民國92年1月29日修正。
    6. 《都市更新條例施行細則》,民國88年5月21日修正。
    7. 《建築法》,民國93年1月20日修正。
    8. 《建築技術規則建築設計施工編》,民國94年01月21日修正。
    9. 《營建管理規則》,民國91年12月26日修正。

    五、個人通訊(按通訊日期排列)
    1. 高雄市安侯建業會計師事務所職員李雅淳,2004/12/15,個人通訊。
    2. C建設公司業務部經理,2005/01/07、2005/03/20,個人通訊。
    3. D建設公司董事長、副總經理,2005/01/13,個人通訊。
    4. F建設公司副總經理,2005/01/14、03/30,個人通訊。
    5. 前東帝士建設股份有限公司業務部經理張磐,2005/01/16,個人通訊。
    6. B建設公司董事長,2005/01/18,個人通訊。
    7. 台南市龍太建設業務部職員林誠浩,2005/01/18,個人通訊。
    8. 專業地政士陳琬,2005/03/03,個人通訊。
    9. A建設公司研展部經理,2005/03/15,個人通訊。
    10. 高雄市建築師公會理事長蔡敏文,2005/03/27,個人通訊。
    11. E建設公司總經理特助,2005/04/07,個人通訊。
    12. C建設公司業務部職員,2005/04/26,個人通訊。
    13. D建設公司會計小姐,2005/04/26,個人通訊。

    六、中文資訊網站(按網站筆畫排列)
    1. 全國法規資料庫(http://law.moj.gov.tw/)
    2. 高雄市地政士公會網站(http://www.khland.org.tw/)
    3. 高雄市建築師公會網站(http://www.kaa.org.tw)
    4. 高雄市政府房地產億年旺網站(http://eland.kcg.gov.tw/land/home/)
    5. 高雄縣建築開發公會網站(http://www.khcda.org.tw/)
    6. 財團法人不動產資訊中心網站(http://www.realestate.org.tw)
    7. 偉盟系統(http://www.wellan.com.tw/index.asp)
    8. 經濟部公司登記資料查詢系統(http://210.69.121.50/~doc/ce/)
    9. 建築資訊服務系統(http://archit.org.tw/)

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