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研究生： 陳昱辰
Chen, Yu-Chen
論文名稱： 高階管理團隊經驗與新創事業投資所創造之成長價值
Top Management Team Experiences and the Growth Value of Corporate Venturing
指導教授： 林舒柔
Lin, Shu-Jou
學位類別： 碩士
Master
系所名稱： 全球經營與策略研究所
Graduate Institute of Global Business and Strategy
論文出版年： 2013
畢業學年度： 102
語文別： 英文
論文頁數： 36
中文關鍵詞： 高階管理團隊多樣性 、新創事業投資 、產業經驗
英文關鍵詞： TMT diversity, corporate venturing investments, industry experience
論文種類： 學術論文
相關次數： 點閱：114  下載：29 
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    • 本研究主要是透過新創事業投資來檢視高階管理團隊(TMT)產業經驗對於公司未來成長之影響。不同於以往的高階管理團隊的研究，本研究不僅以新創事業投資來探討現存的高階管理團隊理論是否適用於公司對外的創新活動，亦將高階管理團隊產業經驗加以細緻化，來探討不同面向與程度的產業經驗多樣性如何影響新創事業投資所創造的成長價值。
    本研究採用台灣上市的電子產業公司為研究對象，觀察期間為2008及2009兩年度，並以Panel Data迴歸分析為研究方法。經由實證，我們發現高階管理團隊之組成異質性對於公司之未來成長確實有決定性的影響。其中，在眾多細緻化的產業經驗當中，本研究發現個別高階管理團隊成員之外部產業經驗多樣性正向調節新創事業投資與公司的未來成長。

    The purpose of this study is to investigate the extent to which top management teams (TMT) diversity influences future growth value generated by corporate venture investments (CVIs). Different from previous TMT studies mainly conducted in the context of firm exploitation, this study uses corporate venturing to examine the existing TMT theories in an exploratory setting. This study finds that TMT composition is a determinant of heterogeneous CVI contribution to firm growth value. Specifically, among various refined measures of a TMT’s industry experiences, this study finds that each team member’s versatile experiences diversity positively moderate the relationship between the magnitude of CVIs and firm growth value.

    致謝 I 摘要 III ABSTRACT IV CONTENT PAGE V TABLE PAGE VI FIGURE PAGE VI INTRODUCTION 1 LITERATURE BACKGROUND 5 HYPOTHESES DEVELOPMENT 9 Top Management Team of Parent Company and Corporate Venture Investments 9 The Magnitude of Corporate Venture Investments and Firm Growth Value 10 Experience Diversity and Decision-Making on Corporate Venture Investments 10 TMT Internal Experience and Corporate Venture Investments 11 Reducing conflict. 11 Consolidating Focal Firm’s Development. 12 Different Types of TMT External Experience Diversity 13 Aggregate diversity. 13 Average individual diversity. 13 Dominant diversity. 13 Aggregate Diversity and Corporate Venture Investments 14 Reduce environmental uncertainty. 14 The accumulation and strengthening of knowledge. 14 Average Individual Diversity and Corporate Venture Investments 15 Broader mindset and identify opportunities. 15 Dominant Diversity and Corporate Venture Investments 16 Impede to obtain information. 16 Increase conflict. 16 METHODS 17 Sample Selection and Collection 17 Research Design 19 Figure 1: Research Framework 19 The Members of Top Management Team 20 Independent Variables 20 The magnitude of CVIs. 20 Internal experience. 20 Aggregate diversity. 21 Average individual diversity. 21 Dominant diversity. 22 Control variables 22 Tenure diversity: 22 Firm age. 22 Firm size. 23 Environmental munificence. 23 Firm profitability. 23 Taiwan stock index. 23 Model and Dependent Variable 23 Dependent variable. 23 RESULTS 24 DISCUSSION 25 LIMITATIONS AND FUTURE RESEARCH 28 REFERENCES 29 TABLE PAGE Table 1: The Research Sample of Corporate Venturing Investments 18 Table 2: The Descriptive Statistics 35 Table 3: Regression Results of TMT Experience Diversity 36 FIGURE PAGE Figure 1: Research Framework 19

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