由於近幾年經濟結構、社會結構劇烈變遷，加上國際化、自由化浪潮的衝擊，企業紛紛採取多角化來延伸版圖，以跨入新的事業領域。因此未來多元化、專業化及大型化的集團企業將成為台灣企業最新的發展模式。然而，當企業發展多角化的同時，是否該優先檢視自身之內外部條件，以制訂出適合公司發展之多角化策略，創造出最佳的績效表現。

　　但在過去的研究中，組織內外部因素對於多角化相關程度的影響，以及總公司、總公司對新事業涉入程度與新事業等因素是否會對多角化相關程度產生作用，進而影響到公司績效之表現，是近年來相關文獻中較少探討之課題。故本研究以此為研究動機，試圖由過去學者所提出的理論整理出一個影響多角化相關程度之因素，及其對公司績效影響之模型，配合實證的方式來驗證這些假設，並提出以下二項主要之研究目的：探討那些組織內部因素會影響多角化相關程度？以及加入總公司因素、總公司對新事業涉入程度和新事業因素的調和作用後，對公司績效之影響程度？

　　本研究主要探討組織在發展過程中，內外在因素對多角化相關程度及其對組織績效之影響。依據四項組織之內、外部因素：產業環境、公司治理、公司特質及組織寬裕資源對多角化相關程度之影響做出假設1-4；總公司之組織寬裕資源、總公司對新事業涉入程度及新事業規模三項與多角化相關程度之交互作用對總公司績效績效之影響做出假設5-7。

　　本研究的母體是以中華徵信所所發行之「台灣地區集團企業研究2004年版」中之所有集團企業共231家，但為與經濟新報資料庫資料作配合，因此刪除部分未能在資料庫中取得財務資料之公司，最後剩餘207家，並運用多元迴歸模型進行統計分析。

　　研究結果發現產業環境、公司治理、公司特質及組織寬裕資源的確會對多角化的相關程度產生影響；且總公司之組織寬裕資源、總公司對新事業涉入程度及新事業規模與多角化的相關程度之交互作用結果皆會對於總公司績效有顯著影響。鑑於此結果。本研究建議企業在執行多角化策略前，應先就公司之內外部特質進行調查以發展出適合公司之多角化策略。此外，當公司採行多角化策略後，也應該考慮總公司與新事業兩者之間的配合，如此一來將會對於企業經營績效上具有正面的助益。

　Recently, with the rapidly changing of economic and social structure, and the impact of internationalization and liberalization, adopting diversification is the common way for enterprise to extend their business field. For this reason, the trend of development of Taiwan business group is complexity, specialization and large-scaled. Enterprise has extended it’s execution in diversification strategy, however, they should examine their direct and indirect environment, so that the enterprise can achieve the best performance.

　Although the diversification is worth discussing, little has been done in the literature in examining the relationships between among the internal and external determinants, the diversification decisions, and the performance of the firms. Therefore, this study attempts to fill the gap in the literature by providing an integrative research framework through extensive literature review to identify the key determinants and to examine the relationships among these determinants, the related diversification, and the performance of the firms.

　The population in the study originated from the Business Groups in Taiwan listed in the China Credit Information Service Incorporation. There are 207 sample firms included in the study, and multiple regression analyzes were used to analyze the data.

　The major findings of this study are that according to the results of the regression analyses, the results show supportive evidence for the direct effects of industry environment, corporate governance, firm characteristics, and organizational slacks on the related diversification. Moreover, the results indicate that the organizational slacks, the involvement level of corporate and new ventures size have interaction effects with the related diversification on the performances of the firms.

一、中文部分
中華徵信所，2004，「2004台灣地區集團企業研究」，中華徵信所出版。
中華民國專利公報資料庫，2004，財團法人亞太智慧財產權發展基金會，2005年5月15日，取自：http://twp.apipa.org.tw/twplogin.htm。
中華民國行業標準分類，2001，行政院：主計處，2005年3月29日，取自：http://law.dgbas.gov.tw/system_1.php?LawID=O0300001。
台灣經濟新報上市上櫃公司基本財務報表，2004，台灣經濟新報TEJ統計資料庫，2005年3月18日，取自：http://www.tej.com.tw。
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