資產管理公司經營策略與績效關條之研究

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Title:	資產管理公司經營策略與績效關條之研究
Other Titles:	Research on the relationship between business strategy and performance of asset management companies
Authors:	洪英正;覃顯仁
Contributors:	淡江大學企業管理學系
Keywords:	資產管理公司;快速資產處置導管;長期重組導管;經營策略;績效;asset management company;AMC, rapid asset disposition vehicle;longer term restructuring vehicle;business strategy performance
Date:	2007-09
Issue Date:	2014-01-20 15:13:18 (UTC+8)
Publisher:	臺北縣淡水鎮：淡江大學會計學系; 臺北市 : 實踐大學會計學系
Abstract:	本研究選擇7 家資產管理公司經理人作深度訪談，其中外國投資者4 家，本國企業3 家，以暸解其經營策略與績效間關係，並驗證Klingebiel (1999) 對AMC 之分類理論:快速資產處置導管與長期重組導管。訪談後主要命題有: 一、外資AMC 較本國AMC 公司更傾向利用全球策略。二、本國AMC 較外資AMC 公司更傾向利用資源、統治策略。三、外資AMC 較本國AMC 公司更傾向採取快速資產處置導管。本國AMC 較外資AMC 公司更傾向採取長期重組處置導管。四、快速資產處置導管傾向「投資水準策略J 長期重組導管傾向「產品發展策略」、「市場發展策略」與「市場滲透策略」。五、長期重組導管較快速資產處置導管更傾向建立長期的聯盟關條。六、基於策略與績效不同的觀點，導致長期重組導管在組織的存活上明顯優於快速資產處置導管。 In this research we want to know the relationship between business strategy and performance of Asset Management Companies. With literature review, as Klingebiel(1999) pointed out that "Two main types of AMCs can be distinguished: AMCs set up to help and expedite corporate restructuring and AMCs established as rapid asset disposition vehicles." ,We choose and survey seven cases of AMCs in Taiwan , according in-depth interviews with managers that four are foreign institutional investors and the other three are domestic enterprises ,we build up some propositions and the main findings as following: 1. Foreign institutional investors have tendencies towards avail themselves of global strategies and domestic enterprises tend to choose strategies in connection with governing the resources. 2. Foreign institutional investors have tendencies towards employing the rapid asset disposition vehicles that depend on the investment benchmark strategies. 3. Domestic enterprises tend to employ the longer term restructuring vehicles, that have the tendencies towards to make use of the product development strategy, the market development strategy and the market penetration strategy. 4. The longer term restructuring vehicles have more intent to establish and maintain long-term relationships with strategic partners than the rapid asset disposition vehicles. 5. On the opposite views of strategy and performance between different vehicles, as the result have mentioned, the longer term restructuring vehicles are superior to the rapid asset disposition vehicles in the organization survival.
Relation:	2007年第十一屆兩岸會計與管理學術研討會「會計準則與企業價值」論文集(上冊)，頁113-134
Appears in Collections:	[Graduate Institute & Department of Business Administration] Proceeding

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