The Research of Mergers & Acquisition Decision and Key Successful Factors for Taiwan High Tech Industries
併購決策應是企業基於整體短、中、長期的發展策略，衡量競爭環境的影響與挑戰，在內部成長及外部成長的總體考量下，選擇速度較快、風險程度亦較高的外部成長方式來達成企業發展上的目的。當然，整個併購案從策略規劃的開始，到企業完成併購活動，這一連串的程序與過程中，必然有某些活動或步驟對整個併購的結果，扮演關鍵性的角色，若能找出這些關鍵因素（Key Factors）或關鍵指標（Key Indicators），就能讓企業在進行併購活動時，取得較高的成功機率。
ABSTRACT Starting from 1980’s, due to the needs of globalization, technology improvement, and competitiveness, many enterprises had taken the common measure of corporate merging in order to achieve substantial business growth and development. Following such trend, Taiwan’s high tech industries also implement the strategy of merging to maintain continuous technology improvement and industry upgrading, which, is an obvious practice of the principle: The bigger you are, the more powerful you will be. Merging has become an inevitable process for enterprises to globalize and stay competitive. Corporate mergers are strategic decisions made by many enterprises base on their needs for short, middle and long term development. Many enterprises chose to merge because they know that competition comes from internally and externally. In order to stay ahead, they need to take appropriate actions. Nevertheless, greater risk are involve even merging seems beneficiate to many enterprises. As one may know, merging needs to go through sophisticated process like planning, negotiating, processing and so on. There are certain key factors or key indicators that should be focus during merging. If we can identify those key factors and take them into considerations, we will have a higher successful rate. After consulting related references and articles, I have come up with some key factors which allow me to divide merging procedures into for main stages: A. Strategic Planning & Decision Making Stage B. Analysis and Evaluation Stage C. Merging Party Selection and Planning Completion Stage D. Merging Stage I have looked into successful merging cases conducted by Taiwan’s high tech. industries in order to better identify and analysis those key factors. I have also divided our high tech. industries into four categories such that we are able to better differentiate each successful key factors among different industries. The four industries are semi-conductors, personal computers, communications and optics. On the other hand, my report will also include five of the main reasons why Taiwan’s high tech. industries merging did not work out. It is important that enterprises know their strength and weakness, market and external environment, resources and reactions, before they plan for a merger. I hope that my findings could provide a reference to those who plans to merge, in hope, to raise the successful merging rate.