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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 陳忠仁 | |
| dc.contributor.author | Ping-Kai Huang | en |
| dc.contributor.author | 黃炳凱 | zh_TW |
| dc.date.accessioned | 2021-05-17T09:17:30Z | - |
| dc.date.available | 2012-08-10 | |
| dc.date.available | 2021-05-17T09:17:30Z | - |
| dc.date.copyright | 2012-08-10 | |
| dc.date.issued | 2012 | |
| dc.date.submitted | 2012-07-24 | |
| dc.identifier.citation | [1] Top 10 semiconductor company report, Gartner (2010/12)
[2] 2010 and 2009 worldwide analog revenue share by supplier, Databeans (2011/3/24) [3] Semiconductor revolution, TSMC (2007) [4] Chen, Huey-Lin “The Growth Strategies of Analog IC Design Companies” National Chiao Tung University EMBA thesis (2009) [5] Lu, Tse-Jen, “The Competitive Advantages of Operation Strategies Study for Taiwan Small and Medium IC Fables Enterprises” National Chiao Tung University EMBA thesis (2011) [6] Ichak Adizes corporate life cycle model [7] Chia-Hsiang Weng, “A Case Study of Competitive Advantage of Nations on Analog IC Companies in USA，Taiwan & China” National Taiwan University MBA program thesis (2009) [8] Gaughan P.A. “Mergers acquisitions and corporate restructurings”(2007) [9] Michael E. Porter, “T Porter's “Competitive Strategy: Techniques for Analysing Industries and Competitors” (1980) [10] Michael E. Porter, 'The Five Competitive Forces that Shape Strategy', Harvard Business Review, p.86-104 (2008/1) [11] Taiwan semiconductor supply chain, ITRI (2005) [12] Texas Instrument annual report, 2010~2012 [13] Texas Instruments Challenges Semiconductor Industry With Proposal to Buy National Semiconductor, Gartner (2011/4/8) [14] Richtek annual report, 2010 [15] Richtek financial statement , 2010~2011 [16] Institution report to Richtek, CLSA/Citi/Nomura/KGI/JP Morgan (2011) [17] Advance Analog Technology annual report, 2010 [18] Global Mixed Technology annual report, 2010 [19] Leadtrend Technology Corporation, annual report, 2010 [20] Macroblock Inc annual report, 2010 [21] Advanced Power Electronics Corp annual report, 2010 [22] Advance Analog Technology financial statement, 2010~2011 [23] Global Mixed Technology financial statement, 2010~2011 [24] Leadtrend Technology Corporation financial statement, 2010~2011 [25] Macroblock Inc financial statement, 2010~2011 [26] Advanced Power Electronics Corp financial statement, 2010~2011 [27] Institution report to AAT, Fubon Research/Masterlink Securities (2011) [28] Advanced Analog Technology, Inc. (3438) - Financial and Strategic SWOT Analysis Review, Global Data (2011/10) [29] TSMC installed capacity (2011/Q4) [30] Institution report to Leadtrend, Jih Sun Securities Investment Consulting/KGI/ Wright Investors' Service Research (2011) [31] Institution report to GMT , E-SUN Securities/Deutsche Bank (2011) [32] Institution report to APEC , Wright Investors' Service Research (2011) [33] Advanced Power Electronics Corp (8261) – Financial Analysis Review, Global Data (2011/12) [34] Bloomberg [35] BCG Matrix, Bruce Henderson, Boston Consulting Group (1968) | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/6755 | - |
| dc.description.abstract | A complete semiconductor supply chain has been established in Taiwan from the upstream such as circuit design and wafer fabrication to the downstream such as packaging and function test since the first fab was set up in 1980. The investment of integrated circuit manufacturing was saved tremendously when the business model, foundry, was proposed. Therefore, a lot of fabless design houses were set up in Taiwan, and the annual production value of IC design in Taiwan is in the second place over the world.
Most Taiwanese analog IC design companies start small and target niche markets and acquires the market by replacing the foreign companies at the low price. When the market leader utilizes its advantages like production capacities, capitals, and product portfolios, to adopt the aggressive expansion, it is an important task how to use past advantages to acquire additional resources to transform company for new competition to a Taiwanese fabless design house. This research proposes mergers and acquisitions as a strategic move, and attempts to identify the factors of making decision. Texas Instrument and Richtek are raised as examples to discuss the relationship of the competition in analog IC industry, and five Taiwanese analog design houses are raised as M&A targets. The growth, revenue-enhancing synergy, cost reduction synergy, product portfolio, market positioning, and merging cost are discussed in this research. | en |
| dc.description.provenance | Made available in DSpace on 2021-05-17T09:17:30Z (GMT). No. of bitstreams: 1 ntu-101-R98749076-1.pdf: 1724994 bytes, checksum: 717bd629287d48cddd17bdc0e563b5f4 (MD5) Previous issue date: 2012 | en |
| dc.description.tableofcontents | 口試委員會審定書 i
ABSTRACT ii CONTENTS iii LIST OF FIGURES v LIST OF TABLES vii Chapter 1 Introduction 1 1.1 Motivation 2 1.2 Objects 5 1.3 Research Flow 6 Chapter 2 Literature Review 8 2.1 Strategic Motives and Determinants of M&A 8 2.2 Porter's Generic Strategies 10 2.3 Porter's Five Forces Analysis 11 Chapter 3 Methodology 15 3.1 Framework 15 3.2 Data Collection 17 Chapter 4 Case Description 18 4.1 Analysis of Texas Instrument 18 4.2 Analysis of Texas Instrument Strategic Moves 23 4.3 Analysis of Richtek 29 4.3.1 Past Research of Richtek 32 4.3.2 Richtek’s Current Status 35 4.4 Five Forces Analysis of Analog IC Industry 36 Chapter 5 Merging and Acquisition Decision 40 5.1 Analysis of Advanced Analog Technology 43 5.2 Analysis of Leadtrend Technology 48 5.3 Analysis of Macroblock Inc. 51 5.4 Analysis of Global Mixed-mode Technology 55 5.5 Analysis of Advanced Power Electronics Corp 59 5.6 Summary 65 Chapter 6 Conclusion and Future Work 69 6.1 Conclusion 70 6.2 Future Work 72 REFERENCE 74 ABOUT AUTHOR 76 LIST OF FIGURES Fig. 1.1 Process of IDM to fabless 2 Fig. 1.2 Research flow 7 Fig. 2.1 Economies and Diseconomies of scale 9 Fig. 2.2 Michael Porter’s five forces model 14 Fig. 4.1 Taiwan semiconductor supply chain 18 Fig. 4.2 TI’s power management IC revenue distribution 25 Fig. 4.3 NS’s power management IC revenue distribution 26 Fig. 4.4 Richtek’s power management IC revenue distribution 31 Fig. 4.5 Richtek’s revenue compared to other Taiwanese analog fables design house 31 Fig. 4.6 Richtek’s revenue, 2000~2010 31 Fig. 4.7 Richtek’s P/E, 2003~2011 32 Fig. 4.8 Richtek’s P/B, 2003~2011 32 Fig. 4.9 Ichak Adizes’ corporate life cycle model 33 Fig. 5.1 AAT’s P/E, 2005~2012 45 Fig. 5.2 AAT’s P/B, 2005~2012 45 Fig. 5.3 AAT’s closing price on 30/03/2012 47 Fig. 5.4 Richtek’s closing price on 30/03/2012 47 Fig. 5.5 Leadtrend’s position in analog IC market 50 Fig. 5.6 Leadtrend’s closing price on 30/03/2012 51 Fig. 5.7 Mblock’s closing price on 30/03/2012 55 Fig. 5.8 GMT’s revenue distribution in application, 1Q/2007~2Q/2011 56 Fig. 5.9 GMT’s P/E, 2004~2011 57 Fig. 5.10 GMT’s closing price on 30/03/2012 59 Fig. 5.11 APEC’s product mix 64 Fig. 5.12 AEPC’s closing price on 30/03/2012 65 Fig. 5.13 BCG Matrix 66 Fig. 6.1 Market driving forces between TI and Richtek 71 Fig. 6.2 Richtek’s five force analysis after M&A 72 LIST OF TABLES Table 1.1 Comparison of analog and digital IC 2 Table 1.2 Analog chip company rank 3 Table 1.3 Top 10 semiconductor companies 4 Table 2.1 Michael Porter’s generic strategies 11 Table 4.1 Revenue of Texas Instrument, 2008~2011 20 Table 4.2 Profit of Texas Instrument, 2011 23 Table 4.3 Long-term debt of Texas Instrument, 2011 27 Table 4.4 Principal payment of Texas Instrument 28 Table 4.5 Richtek’s financial statement, 2010~2011 36 Table 5.1 Target companies’ capital, 2011 42 Table 5.2 Case companies’ revenue, 2007~2011 43 Table 5.3 AAT’ annual revenue, 2010~2011 44 Table 5.4 Leadtrend’s annual revenue, 2010~2011 48 Table 5.5 Leadtrend’s P/E and P/B, 2007~2011 49 Table 5.6 Macroblock’s annual revenue, 2010~2011 52 Table 5.7 Mblock’s P/E and P/B, 2007~2011 53 Table 5.8 GMT’s annual revenue, 2010~2011 56 Table 5.9 Sales, market share ranking of top 15 power MOSFET vendors worldwide in 2009 60 Table 5.10 APEC’s annual revenue, 2010~2011 61 Table 5.11 APEC’s P/E and P/B, 2007~2011 62 Table 5.12 Richtek’s 2011 revenue distribution 65 Table 5.13 Score in five factors 67 | |
| dc.language.iso | en | |
| dc.title | 台灣IC設計公司面對IDM挑戰之對應策略，以立錡科技為例 | zh_TW |
| dc.title | The strategic response of Taiwanese analog IC design houses to the challenges of IDM- A case study of Richtek Technology Corporation | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 100-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 林博文,李伯謙 | |
| dc.subject.keyword | 併購,IC設計,五力分析, | zh_TW |
| dc.subject.keyword | mergers and acquisitions,M&A,IC design,five forces, | en |
| dc.relation.page | 76 | |
| dc.rights.note | 同意授權(全球公開) | |
| dc.date.accepted | 2012-07-25 | |
| dc.contributor.author-college | 管理學院 | zh_TW |
| dc.contributor.author-dept | 企業管理碩士專班 | zh_TW |
| 顯示於系所單位： | 管理學院企業管理專班(Global MBA) | |
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