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題名 企業併購與其電廠營運效率: 財務面及環境面指標分析
The Impact of Mergers and Acquisitions on the Business Performance of Power Plant: Index on Financial Side and Environmental Side
作者 王家容
Wang, Chia-Jung
貢獻者 王信實<br>李文傑
Wang, Shinn-Shyr<br>Lee, Wen-Chieh
王家容
Wang, Chia-Jung
關鍵詞 火力發電
能源轉型
合成控制法
thermal power generation
energy transition
synthetic control
日期 2023
上傳時間 2-Aug-2023 13:42:15 (UTC+8)
摘要 在2050淨零碳排的目標下能源轉型勢在必行 ,而如何在維持能源安全的前提下達成能源轉型與淨零碳排 。為此本研究將探討如何在能源安全與能源轉型中得平衡 ,由於台灣地理位置特殊以及能源仰賴度極高 ,因此需要藉由火力發電作為能源轉型的過渡期 。本研究利用美國能源資訊管理局(Energy Information Administration)和排放和發電資源綜合資料庫(eGRID)以及Compustat所釋出的資料 ,探討是否能藉由電廠併購提高環境友善指標從而達到淨零碳排 。研究結果顯示:企業併購後無法提高環境友善指標 ,因為企業只在乎自身利潤沒有誘因改善環境 。然而如果通過政府介入(如:制定相關法規) ,則會提高環境友善指標 。因此政府介入將會是台灣達成淨零碳排的重要關鍵 。
This research set to probe whether the merger and acquisition (M&A) would be beneficial to the business operational performance. Other than the traditional performance index the current research gauges the operational performance by the environmental friendly index that nets of the externality of carbon emissions generated by the electricity production. The result s shows that most of the M&A event would be neutral to the firm operational performance. To an exception that the governmental regulated event is really beneficial to the environmentally friendly index because the externality is explicitly regulated when the M&A is under the policy regulation.
參考文獻 Atkinson, S. E., & Halvorsen, R. (1984). Parametric efficiency tests, economies of
scale, and input demand in US electric power generation. International Economic Review, 647-662

Borenstein, S. (2012). The private and public economics of renewable electricity
generation. Journal of Economic Perspectives, 26(1), 67-92.

Borenstein, S., & Bushnell, J. (2015). The US electricity industry after 20 years of
restructuring. Annu. Rev. Econ., 7(1), 437-463.

Cicala, S. (2015). When does regulation distort costs? lessons from fuel procurement
in us electricity generation. American Economic Review, 105(1), 411-444.

Fabrizio, K. R., Rose, N. L., & Wolfram, C. D. (2007). Do markets reduce costs?
Assessing the impact of regulatory restructuring on US electric generation efficiency. American Economic Review, 97(4), 1250-1277.

Lee, W. C., & Wang, S. S. (2017). Misallocations and policy constraints on mergers
in the modern manufacturing sector. Journal of Macroeconomics, 52, 268-286.

Metcalf, G. E., & Stock, J. H. (2020). The macroeconomic impact of Europe’s carbon
taxes (No. w27488). National Bureau of Economic Research.
描述 碩士
國立政治大學
經濟學系
110258012
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0110258012
資料類型 thesis
dc.contributor.advisor 王信實<br>李文傑zh_TW
dc.contributor.advisor Wang, Shinn-Shyr<br>Lee, Wen-Chiehen_US
dc.contributor.author (Authors) 王家容zh_TW
dc.contributor.author (Authors) Wang, Chia-Jungen_US
dc.creator (作者) 王家容zh_TW
dc.creator (作者) Wang, Chia-Jungen_US
dc.date (日期) 2023en_US
dc.date.accessioned 2-Aug-2023 13:42:15 (UTC+8)-
dc.date.available 2-Aug-2023 13:42:15 (UTC+8)-
dc.date.issued (上傳時間) 2-Aug-2023 13:42:15 (UTC+8)-
dc.identifier (Other Identifiers) G0110258012en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/146475-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 經濟學系zh_TW
dc.description (描述) 110258012zh_TW
dc.description.abstract (摘要) 在2050淨零碳排的目標下能源轉型勢在必行 ,而如何在維持能源安全的前提下達成能源轉型與淨零碳排 。為此本研究將探討如何在能源安全與能源轉型中得平衡 ,由於台灣地理位置特殊以及能源仰賴度極高 ,因此需要藉由火力發電作為能源轉型的過渡期 。本研究利用美國能源資訊管理局(Energy Information Administration)和排放和發電資源綜合資料庫(eGRID)以及Compustat所釋出的資料 ,探討是否能藉由電廠併購提高環境友善指標從而達到淨零碳排 。研究結果顯示:企業併購後無法提高環境友善指標 ,因為企業只在乎自身利潤沒有誘因改善環境 。然而如果通過政府介入(如:制定相關法規) ,則會提高環境友善指標 。因此政府介入將會是台灣達成淨零碳排的重要關鍵 。zh_TW
dc.description.abstract (摘要) This research set to probe whether the merger and acquisition (M&A) would be beneficial to the business operational performance. Other than the traditional performance index the current research gauges the operational performance by the environmental friendly index that nets of the externality of carbon emissions generated by the electricity production. The result s shows that most of the M&A event would be neutral to the firm operational performance. To an exception that the governmental regulated event is really beneficial to the environmentally friendly index because the externality is explicitly regulated when the M&A is under the policy regulation.en_US
dc.description.tableofcontents 目錄 i
第一章 緒論 1
第一節 氣候變遷帶來的影響 1
第二節 各國如何抑制全球暖化 2
第三節 環境VS發展 5
第二章 文獻回顧 9
第一節 為何選擇火力發電廠為研究對象 9
第二節 能源業民營化後是否能提高社會福利 10
第三章 資料來源與研究方法 14
第一節 資料來源 14
一 、美國能源資訊管理局(EIA) 15
二 、排放和發電資源綜合資料庫(eGRID) 16
三 、Compustat 16
第二節 研究方法 18
第四章 研究結果 23
第一節 資料處理與敘述性統計 23
第二節 研究結果 26
第五章 結論與建議 39
第一節 研究結論 39
第二節 未來方向與建議 40
參考文獻 43
附錄一 併購與非併購公司詳細資料 44
附錄二 公司詳細資料期間 45
zh_TW
dc.format.extent 2166774 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0110258012en_US
dc.subject (關鍵詞) 火力發電zh_TW
dc.subject (關鍵詞) 能源轉型zh_TW
dc.subject (關鍵詞) 合成控制法zh_TW
dc.subject (關鍵詞) thermal power generationen_US
dc.subject (關鍵詞) energy transitionen_US
dc.subject (關鍵詞) synthetic controlen_US
dc.title (題名) 企業併購與其電廠營運效率: 財務面及環境面指標分析zh_TW
dc.title (題名) The Impact of Mergers and Acquisitions on the Business Performance of Power Plant: Index on Financial Side and Environmental Sideen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) Atkinson, S. E., & Halvorsen, R. (1984). Parametric efficiency tests, economies of
scale, and input demand in US electric power generation. International Economic Review, 647-662

Borenstein, S. (2012). The private and public economics of renewable electricity
generation. Journal of Economic Perspectives, 26(1), 67-92.

Borenstein, S., & Bushnell, J. (2015). The US electricity industry after 20 years of
restructuring. Annu. Rev. Econ., 7(1), 437-463.

Cicala, S. (2015). When does regulation distort costs? lessons from fuel procurement
in us electricity generation. American Economic Review, 105(1), 411-444.

Fabrizio, K. R., Rose, N. L., & Wolfram, C. D. (2007). Do markets reduce costs?
Assessing the impact of regulatory restructuring on US electric generation efficiency. American Economic Review, 97(4), 1250-1277.

Lee, W. C., & Wang, S. S. (2017). Misallocations and policy constraints on mergers
in the modern manufacturing sector. Journal of Macroeconomics, 52, 268-286.

Metcalf, G. E., & Stock, J. H. (2020). The macroeconomic impact of Europe’s carbon
taxes (No. w27488). National Bureau of Economic Research.
zh_TW