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題名 台灣創業投資對LED產業次世代照明投資之研究
作者 李正星
貢獻者 周宣光
李正星
關鍵詞 創業投資
LED產業
產業生命週期
價值鏈
人際網絡
Venture Capital
LED Industry
Industry Life Cycle
Value Chain
Network
日期 2009
上傳時間 9-May-2016 15:20:00 (UTC+8)
摘要 台灣高科技產業經過三十多年的發展，已累積了雄厚的資金與技\n術基礎。而近日來由於政府政策的倡導與產品應用的擴展等緣故，使\n得LED 產業成為當前最具未來發展潛力之產業。對於以投資在具有發\n展潛力產業的創業投資公司來說，LED 相關之產業儼然成為投資首選\n的目標。然而，台灣的創業投資事業的發展在2000 年達到高峰之後，近年來以日漸趨緩。雖然整體大環境表現不佳，但是其中仍不乏表現不錯的創業投資公司。本文以「源創管理顧問」為研究對象，以其投資於LED 產業為例，探討其創投經營之成功關鍵。研究發現，「股東人際網絡的運用」與「產業供應鏈的整合」為源創管理顧問最主要之核心要素。與其他創投公司相比，源創管理顧問除了投資標的公司以外，仍以股東之人際網路資源促進標的公司與上下游供應鏈之間的關係，一方面確保標的公司之穩定成長，另一方面也同時促進LED 產業之技術升級，以及加強與國外大廠之合作。以LED 產業國際分工的成效，以個案公司為例，本文建議台灣未來創業投資事業的發展也可採取國際分工的模式，如此一來除了可使創業投資公司處於有利優勢外，亦可完成其對於國家整體產業升級的使命。
Taiwan High Tech Industry has developed for over thirty years and has amassed huge quantity of capital and technology knowledge. Due to government policies and\nproduct usage expansion in recent years, LED has become a highly potential industry. Therefore, venture capitalists are likely to lean towards investing in this industry due to\nits high growth rate. However, the development of venture capital has since slowed down upon reaching its peak in year 2000. Though most ventures did not perform well\nhowever, there were some that did well.\n The company studied in this thesis is InnoStream Consultancy Services. The study is to explore on their investment in the LED industry and the reasons for success. The study has discovered the usage of networking and integration of supply chain as the elements for the achievement. Different from the rest of industry, InnoStream made use of resources such as the network of its shareholders to foster the supply chain integration. As such, they managed to ensure steady growth of the company,\ndevelopment in their LED technology and strengthened in ties with overseas manufacturer. \n This study suggests international cooperation in the LED industry. Such a policy will improve the competitiveness of Taiwan’s LED industry in the global market, and result in industry upgrade.
參考文獻 壹、中文部份\n1、 大前研一，「企業成熟期的差異化戰略」，洪騰岳編譯，書泉出版\n社，1987。\n2、 王生睿，「創業投資事業與高科技產業及資本市場三者關係之研\n究」，輔仁大學管理科學研究所，1995。\n3、 司徒達賢，「台灣中小企業發展的經營策略」，第一屆中小企業研\n討會論文，1994。\n4、 司徒達賢，「策略管理新論—觀念架構與分析方法」，智勝文化事\n業有限公司，1995。\n5、 李明軒、邱如美譯，「競爭優勢」，天下文化出版，1999。\n6、 吳思華，「策略九說－策略思考的本質」，臉譜文化出版社，2000。\n7、 林志勳，「LED 產業回顧與展望2009」，工業技術研究院，2008。\n8、 高雄生，「台灣地區創業投資事業投資後管理之研究－以中盈公\n司為例」，國力中山大學高階經營碩士班，2001。\n9、 孫盈哲，「產業網路與中小企業之競爭力」，台灣經濟研究月刊，\n1996。\n10、 陳燕慧，「績效指標與企業價值創造之關聯性研究」─以台灣LED\n產業為例，東吳大學會計研究所，碩士論文，2004。\n11、 陳勵勤，「價值鏈觀念下提升產銷班競爭優勢之研究」，屏東科大\n農業企管碩士論文，2007。\n12、 趙育培，「我國創業投資事業的發展方向」，國家政策論壇第一卷\n第五期，2001。\n13、 劉常勇，「科技產業投資經營與競爭分析」，華泰文化出版，1995。\n14、 經濟日報，「三年12 億LED 路燈商機全面引爆」，2009/5/20。\n15、 經濟部工業局、中華民國創業投資商業同業公會，「2008 台灣創\n業投資年鑑」，2009。\n16、 經濟部投資業務處，「LED 產業分析與投資機會」，2008。\n17、 源創管理顧問，資料由個案公司提供，2009。\n18、 資策會產業情報研究所，資策會產業情報研究所資料庫，2009。\n\n貳、外文部份\n1. Abernathy, W.J. & J.M. Utterback “Patterns of Innovation in\nTechnology”, Technology Review, Vol.80(7), pp.40-47, 1978.\n2. Ansoff, H.I., “Implementing Strategic Management”, New Jersey:\nPrentice-Hall, Inc, 1984.\n3. Betz, F., “Strategic Technology Management”, McGraw-Hill, 1993.\n4. Borgatti, S.P. and Foster, P., “The network paradigm in organizational\nresearch: A review and typology”, Journal of Management. 29(6):\n991-1013, 2003.\n5. Bruno & Tyebjee, A Model of Venture Capitalist Investment Activity,\nManagement Science, pp.1053, 1984\n6. Cook, K.S., Emerson, R.M., “Power, Equity, and Commitment in\nExchange Networks”, American Sociological Review, Vol. 43\npp.721-739, 1978.\n7. Fine, C. H., Vardan, R., Pethick, R., R., & El-Hount, J., “Rapid\nrespond capability in value-chain design”, MIT Sloan Management\nRevies, 43(2), pp.23-30, 2002.\n8. Granovetter, M.S., “The Strength of Weak Ties”, American Journal of\nSociology 78, 1360-1380, 1973.\n9. Granovetter, M.S., “Economic action and social structure”, American\njournal of Sociology, pp. 91, 1985.\n10. Haythornthwaite, C., “Online Personal Network: Size, Composition\nand Media Use Among Distance Leaners,” New Media and Society,\n1996.\n11. Hellmann, Thomas, “Venture Capital: A Challenge for Commercial\nBanks”, Journal of Private Equity, 1 (1), Fall, S. pp49-55, 1997.\n12. Hill, C. W. L. and G. R. Jone, “Strategic Management Theory: An\nIntegrated Approach”, Boston: Houghton Mifflin Co, 1998.\n13. Hitt, Ireland, and Hoskisson, “Strategic Management: Competitiveness\nand Globalization”, South-Western College Publishing, 2001.\n14. Laudon & Laudon, “Management Information System”, 7th Edition\nPrentice Hall, 2001.\n15. Larson & Andrea, “Partner Networks: Leveraging external ties to improve entrepreneurial performance” Journal of Business Venturing.\n6(3). pp. 173-188, 1991.\n16. Michael E. Porter, Competitive Strategy, N.Y.: Free Press, 1980.\n17. Michael E. Porter, “Competitive Strategy: Techniques for Analyzing\nIndustries and Competitors”, New York: Free Press, 1985.\n18. Michael E. Porter, “The Competitive Advantage of Nations.” New\nYork: Free Press, 1991.\n19. Nonaka, I. & H.Takeuchi, “The knowledge-creating company: How\nJapanese Companies Create the Dynamics of Innovation.” Oxford\nUniversity Press, 1995.\n20. Oliver. C., “Determinants of Interorganizational Relationships:\nIntegration and Future Directions”, Academy of Management Review,\nVol.15, Iss.2, pp.241-265, 1990.\n21. Paul A. Gompers & Josh Lerner, “What Drives Venture Capital\nFundraising?” NBER Working Papers 6906, National Bureau of\nEconomic Research, Inc, 1999.\n22. Provan, K.G. & Sebastian, J.G., “Networks within Networks: Service\nLink Overlap,Organizational Cliques, and Network. Effectiveness”,\nThe Academy of Management Journal, 41, pp453-463, 1998.\n23. Ray Reagans and Ezra W. Zuckerman, “Networks, Diversity and\nProductivity：The Social Capital of Corporate R&D Teams.”\nOrganization Science Informs, Vol.12, No.4, July-August, pp.502-517,\n2001.\n24. Robert M. Grant, “Contemporary Strategy Analysis”. 4th ed. Oxford,\nU.K.: Blackwell Publishers Ltd, 2002.\n25. Salancik & Pfeffer, “A Social Information Processing Approach to Job\nAttitudes and Task Design”, Administrative Science Quarterly 23,\npp224-253, 1978.\n26. Stephen P. Robbins, “Organizational Behavior.” New Jersey:\nPrentice-Hall, Inc. pp. 600-622, 1993.\n27. Tapscott, D., D. Ticoll, and A. Lowy, “Digital Capital: Harnessing the\nPower of Business Webs.” HBS Press, 2000.\n28. Thomas Hellmann, “Venture Capitalists: The Coaches of Silicon\nValley”, The Silicon Valley Edge, pp276-394, 2000.\n29. Tyebjee, T. T. and Bruno, A. V., “A Model of Venture Capitalist\nInvestment Activity”, Management Science, Vol. 30, 1051-1066, 1984.\n\n參、網路資料\n1、 曾怡禎，「我國創業投資事業發展的省思和綢繆」，連結：\nhttp://www.moea.gov.tw/~ecobook/cynex/saa13.htm，擷取時\n間2009/6/12。\n2、 中華民國創業投資商業同業公會，「台灣創業投資事業的過去與\n現在」，連結：http://www.tvca.org.tw/F-1-3.htm，擷取時間\n2009/6/10。
描述 碩士
國立政治大學
經營管理碩士學程(EMBA)
96932063
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0096932063
資料類型 thesis
dc.contributor.advisor 周宣光zh_TW
dc.contributor.author (Authors) 李正星zh_TW
dc.creator (作者) 李正星zh_TW
dc.date (日期) 2009en_US
dc.date.accessioned 9-May-2016 15:20:00 (UTC+8)-
dc.date.available 9-May-2016 15:20:00 (UTC+8)-
dc.date.issued (上傳時間) 9-May-2016 15:20:00 (UTC+8)-
dc.identifier (Other Identifiers) G0096932063en_US
dc.identifier.uri (URI) https://ah.lib.nccu.edu.tw/item?item_id=107359-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 經營管理碩士學程(EMBA)zh_TW
dc.description (描述) 96932063zh_TW
dc.description.abstract (摘要) 台灣高科技產業經過三十多年的發展，已累積了雄厚的資金與技\n術基礎。而近日來由於政府政策的倡導與產品應用的擴展等緣故，使\n得LED 產業成為當前最具未來發展潛力之產業。對於以投資在具有發\n展潛力產業的創業投資公司來說，LED 相關之產業儼然成為投資首選\n的目標。然而，台灣的創業投資事業的發展在2000 年達到高峰之後，近年來以日漸趨緩。雖然整體大環境表現不佳，但是其中仍不乏表現不錯的創業投資公司。本文以「源創管理顧問」為研究對象，以其投資於LED 產業為例，探討其創投經營之成功關鍵。研究發現，「股東人際網絡的運用」與「產業供應鏈的整合」為源創管理顧問最主要之核心要素。與其他創投公司相比，源創管理顧問除了投資標的公司以外，仍以股東之人際網路資源促進標的公司與上下游供應鏈之間的關係，一方面確保標的公司之穩定成長，另一方面也同時促進LED 產業之技術升級，以及加強與國外大廠之合作。以LED 產業國際分工的成效，以個案公司為例，本文建議台灣未來創業投資事業的發展也可採取國際分工的模式，如此一來除了可使創業投資公司處於有利優勢外，亦可完成其對於國家整體產業升級的使命。zh_TW
dc.description.abstract (摘要) Taiwan High Tech Industry has developed for over thirty years and has amassed huge quantity of capital and technology knowledge. Due to government policies and\nproduct usage expansion in recent years, LED has become a highly potential industry. Therefore, venture capitalists are likely to lean towards investing in this industry due to\nits high growth rate. However, the development of venture capital has since slowed down upon reaching its peak in year 2000. Though most ventures did not perform well\nhowever, there were some that did well.\n The company studied in this thesis is InnoStream Consultancy Services. The study is to explore on their investment in the LED industry and the reasons for success. The study has discovered the usage of networking and integration of supply chain as the elements for the achievement. Different from the rest of industry, InnoStream made use of resources such as the network of its shareholders to foster the supply chain integration. As such, they managed to ensure steady growth of the company,\ndevelopment in their LED technology and strengthened in ties with overseas manufacturer. \n This study suggests international cooperation in the LED industry. Such a policy will improve the competitiveness of Taiwan’s LED industry in the global market, and result in industry upgrade.en_US
dc.description.tableofcontents 第一章 緒 論...................................................................................................1\n第一節、研究背景......................................................................................1\n第二節、研究動機......................................................................................3\n第三節、研究目的......................................................................................3\n第四節、研究步驟......................................................................................4\n第二章 文獻探討...............................................................................................6\n第一節、創業投資事業..............................................................................6\n第二節、產業生命週期............................................................................14\n第三節、價值鏈與競爭策略....................................................................20\n第四節、人際網絡....................................................................................26\n第三章 產業研究.............................................................................................29\n第一節、創業投資事業現況分析............................................................29\n第二節、LED 產業分析...........................................................................37\n第三節、小結與未來發展挑戰................................................................46\n第四章 個案研究.............................................................................................49\n第一節、源創管理顧問之背景與簡介....................................................49\n第二節、源創管理顧問之經營與管理....................................................50\n第三節、源創管理顧問之投資策略........................................................56\n第四節、投資案評選，以LED 產業為例..............................................58\n第五節、小結與未來發展挑戰................................................................61\n第五章 結論與未來研究建議.........................................................................64\n參考文獻...........................................................................................................67zh_TW
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0096932063en_US
dc.subject (關鍵詞) 創業投資zh_TW
dc.subject (關鍵詞) LED產業zh_TW
dc.subject (關鍵詞) 產業生命週期zh_TW
dc.subject (關鍵詞) 價值鏈zh_TW
dc.subject (關鍵詞) 人際網絡zh_TW
dc.subject (關鍵詞) Venture Capitalen_US
dc.subject (關鍵詞) LED Industryen_US
dc.subject (關鍵詞) Industry Life Cycleen_US
dc.subject (關鍵詞) Value Chainen_US
dc.subject (關鍵詞) Networken_US
dc.title (題名) 台灣創業投資對LED產業次世代照明投資之研究zh_TW
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 壹、中文部份\n1、 大前研一，「企業成熟期的差異化戰略」，洪騰岳編譯，書泉出版\n社，1987。\n2、 王生睿，「創業投資事業與高科技產業及資本市場三者關係之研\n究」，輔仁大學管理科學研究所，1995。\n3、 司徒達賢，「台灣中小企業發展的經營策略」，第一屆中小企業研\n討會論文，1994。\n4、 司徒達賢，「策略管理新論—觀念架構與分析方法」，智勝文化事\n業有限公司，1995。\n5、 李明軒、邱如美譯，「競爭優勢」，天下文化出版，1999。\n6、 吳思華，「策略九說－策略思考的本質」，臉譜文化出版社，2000。\n7、 林志勳，「LED 產業回顧與展望2009」，工業技術研究院，2008。\n8、 高雄生，「台灣地區創業投資事業投資後管理之研究－以中盈公\n司為例」，國力中山大學高階經營碩士班，2001。\n9、 孫盈哲，「產業網路與中小企業之競爭力」，台灣經濟研究月刊，\n1996。\n10、 陳燕慧，「績效指標與企業價值創造之關聯性研究」─以台灣LED\n產業為例，東吳大學會計研究所，碩士論文，2004。\n11、 陳勵勤，「價值鏈觀念下提升產銷班競爭優勢之研究」，屏東科大\n農業企管碩士論文，2007。\n12、 趙育培，「我國創業投資事業的發展方向」，國家政策論壇第一卷\n第五期，2001。\n13、 劉常勇，「科技產業投資經營與競爭分析」，華泰文化出版，1995。\n14、 經濟日報，「三年12 億LED 路燈商機全面引爆」，2009/5/20。\n15、 經濟部工業局、中華民國創業投資商業同業公會，「2008 台灣創\n業投資年鑑」，2009。\n16、 經濟部投資業務處，「LED 產業分析與投資機會」，2008。\n17、 源創管理顧問，資料由個案公司提供，2009。\n18、 資策會產業情報研究所，資策會產業情報研究所資料庫，2009。\n\n貳、外文部份\n1. Abernathy, W.J. & J.M. Utterback “Patterns of Innovation in\nTechnology”, Technology Review, Vol.80(7), pp.40-47, 1978.\n2. Ansoff, H.I., “Implementing Strategic Management”, New Jersey:\nPrentice-Hall, Inc, 1984.\n3. Betz, F., “Strategic Technology Management”, McGraw-Hill, 1993.\n4. Borgatti, S.P. and Foster, P., “The network paradigm in organizational\nresearch: A review and typology”, Journal of Management. 29(6):\n991-1013, 2003.\n5. Bruno & Tyebjee, A Model of Venture Capitalist Investment Activity,\nManagement Science, pp.1053, 1984\n6. Cook, K.S., Emerson, R.M., “Power, Equity, and Commitment in\nExchange Networks”, American Sociological Review, Vol. 43\npp.721-739, 1978.\n7. Fine, C. H., Vardan, R., Pethick, R., R., & El-Hount, J., “Rapid\nrespond capability in value-chain design”, MIT Sloan Management\nRevies, 43(2), pp.23-30, 2002.\n8. Granovetter, M.S., “The Strength of Weak Ties”, American Journal of\nSociology 78, 1360-1380, 1973.\n9. Granovetter, M.S., “Economic action and social structure”, American\njournal of Sociology, pp. 91, 1985.\n10. Haythornthwaite, C., “Online Personal Network: Size, Composition\nand Media Use Among Distance Leaners,” New Media and Society,\n1996.\n11. Hellmann, Thomas, “Venture Capital: A Challenge for Commercial\nBanks”, Journal of Private Equity, 1 (1), Fall, S. pp49-55, 1997.\n12. Hill, C. W. L. and G. R. Jone, “Strategic Management Theory: An\nIntegrated Approach”, Boston: Houghton Mifflin Co, 1998.\n13. Hitt, Ireland, and Hoskisson, “Strategic Management: Competitiveness\nand Globalization”, South-Western College Publishing, 2001.\n14. Laudon & Laudon, “Management Information System”, 7th Edition\nPrentice Hall, 2001.\n15. Larson & Andrea, “Partner Networks: Leveraging external ties to improve entrepreneurial performance” Journal of Business Venturing.\n6(3). pp. 173-188, 1991.\n16. Michael E. Porter, Competitive Strategy, N.Y.: Free Press, 1980.\n17. Michael E. Porter, “Competitive Strategy: Techniques for Analyzing\nIndustries and Competitors”, New York: Free Press, 1985.\n18. Michael E. Porter, “The Competitive Advantage of Nations.” New\nYork: Free Press, 1991.\n19. Nonaka, I. & H.Takeuchi, “The knowledge-creating company: How\nJapanese Companies Create the Dynamics of Innovation.” Oxford\nUniversity Press, 1995.\n20. Oliver. C., “Determinants of Interorganizational Relationships:\nIntegration and Future Directions”, Academy of Management Review,\nVol.15, Iss.2, pp.241-265, 1990.\n21. Paul A. Gompers & Josh Lerner, “What Drives Venture Capital\nFundraising?” NBER Working Papers 6906, National Bureau of\nEconomic Research, Inc, 1999.\n22. Provan, K.G. & Sebastian, J.G., “Networks within Networks: Service\nLink Overlap,Organizational Cliques, and Network. Effectiveness”,\nThe Academy of Management Journal, 41, pp453-463, 1998.\n23. Ray Reagans and Ezra W. Zuckerman, “Networks, Diversity and\nProductivity：The Social Capital of Corporate R&D Teams.”\nOrganization Science Informs, Vol.12, No.4, July-August, pp.502-517,\n2001.\n24. Robert M. Grant, “Contemporary Strategy Analysis”. 4th ed. Oxford,\nU.K.: Blackwell Publishers Ltd, 2002.\n25. Salancik & Pfeffer, “A Social Information Processing Approach to Job\nAttitudes and Task Design”, Administrative Science Quarterly 23,\npp224-253, 1978.\n26. Stephen P. Robbins, “Organizational Behavior.” New Jersey:\nPrentice-Hall, Inc. pp. 600-622, 1993.\n27. Tapscott, D., D. Ticoll, and A. Lowy, “Digital Capital: Harnessing the\nPower of Business Webs.” HBS Press, 2000.\n28. Thomas Hellmann, “Venture Capitalists: The Coaches of Silicon\nValley”, The Silicon Valley Edge, pp276-394, 2000.\n29. Tyebjee, T. T. and Bruno, A. V., “A Model of Venture Capitalist\nInvestment Activity”, Management Science, Vol. 30, 1051-1066, 1984.\n\n參、網路資料\n1、 曾怡禎，「我國創業投資事業發展的省思和綢繆」，連結：\nhttp://www.moea.gov.tw/~ecobook/cynex/saa13.htm，擷取時\n間2009/6/12。\n2、 中華民國創業投資商業同業公會，「台灣創業投資事業的過去與\n現在」，連結：http://www.tvca.org.tw/F-1-3.htm，擷取時間\n2009/6/10。zh_TW