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研究生： 林洋立
Lin, Yang-Li
論文名稱： 網絡嵌入性對合資績效的影響
Network Embeddedness and the Performance Impacts on Joint Ventures Partners
指導教授： 張紹基
Chang, Shao-Chi
學位類別： 碩士
Master
系所名稱： 管理學院 - 國際企業研究所
Institute of International Business
論文出版年： 2019
畢業學年度： 107
語文別： 英文
論文頁數： 34
中文關鍵詞： 合資企業 、網絡嵌入性 、聯盟網絡
外文關鍵詞： joint venture, network embeddedness, alliance network
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    • 本研究為了解企業間合資網絡對事件的管理作用，而過去的研究認為，合資網絡的功能在選擇合資的夥伴和控制合作中可能的投機行為這方面提供了關鍵的影響。本文旨在測試位於合資網絡中的更中心位置的合資夥伴是否能夠獲得更好的績效。在對合資夥伴異常報酬的實證分析中，採用三種網絡中心性度量，同時考慮合資夥伴間的直接與間接關係。我蒐集了從2000年到2018年的合資事件，涵蓋6,504家宣布合資的企業，其中，每個合資事件中至少有一名參與者是來自美國的上市公司。此外，我還考慮了各個合資企業網絡中心性的差異、合資合約的類型以及過去經驗多寡的影響。然後，分析不同時期（-10，-2），（- 1,0），（1,0），（1,10），（1,20）和（1,30）對網絡中心性的影響。
    結果顯示，網絡中心性對於技術研發類型的合資中提供比行銷或製造類型合資企業更好的績效。此外，它部分支持合資夥伴的中心性與其績效正相關，更重要的是為那些在合資企業中具有較少先前經驗的公司提供更好的業績。

    This thesis attempts to understand the management function of interfirm network on joint venture events. Prior studies have argued that alliance network provides important functions in selecting partners, and controlling the opportunistic behaviors in the collaborations. This thesis intends to test if joint ventures collaborated with partners that locate in more positons in a network deliver better performance. Three measures of network centrality that considering both direct and indirect relationship are used in the empirical analyses on the abnormal returns of joint venture partners. I collect 6,504 equity joint ventures with announced from 2000 to 2018; at least one participant in a joint venture project is a U.S. firm. In addition, I also consider the effect of centrality difference, type of joint ventures, and prior experiences. Then, analyze the influence of centrality with different periods (-10,-2), (-1,0), (1,0). (1,10), (1,20) and (1,30).
    The results show that network centrality influenced more positively on delivering better performance in technological joint ventures than marketing or manufacturing joint ventures. In addition, it partly support that centrality of joint venture partner is positively associated with their performance and it is more important on delivering better performance toward firms who has less prior experiences in a joint venture.

    中文摘要 I Abstract II 誌謝 III Contents IV List of Tables V Chapter 1 Introduction 1 Chapter 2 Literature Background 4 2.1 Informational Advantage of Network Embeddedness 4 2.2 Reputational Advantage of Network Embeddedness 4 2.3 Social Monitoring Advantage of Network Embeddedness 5 Chapter 3 Hypotheses 6 Chapter 4 Sample and Methodology 11 4.1 Dependent variables 11 4.1.1 Measure of abnormal returns 12 4.2 Independent variable 12 4.2.1 Degree-based measures of network centrality 14 4.2.2 Closeness-based measure of network centrality 14 4.2.3 Betweenness-based measure of network centrality 15 4.3 Control Variables 16 4.3.1 Growth opportunity 17 4.3.2 Leverage ratio 17 4.3.3 Firm size 17 Chapter 5 Results 19 5.1 Network Embeddedness towards Joint Venture 19 5.2 Effects of Centrality Difference 22 5.3 Influence of Different Types Of Joint Venture 25 5.4 Influence of Prior Experiences 26 Chapter 6 Discussion and Conclusion 29 6.1 Discussion 29 6.2 Limitations and Suggestions for Future Research 30 References 31

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