台灣家族企業之傳承：兩家上市企業之個案研究

Abstract

家族企業在全球均為主要的企業型態，而國內三十大集團(這些集團企業多數是由特定家族所持股控制或經營管理)之接班布局中，有近六成的集團負責人沒有明確接班計劃。 本研究的動機來自綜觀全球，家族企業的傳承確實是一個難解的問題，美林證券做過一項研究統計，東亞地區的家族企業只有15%能夠成功交棒第二代，但能繼續順利傳承到第三代，只剩下2%。美國家族企業中，高達三分之二比例的企業最終走上倒閉的命運。 本研究採研究個案分析法，研究核心在探討兩家上市家族企業接班傳承佈局，分析兩個案之接班關鍵因素，並提出四點對家族企業接班傳承的實務建議：一、儘早設立家族憲法作全方位財產規劃；二、設立家族委員會以落實經營權與所有權分開；三、推動公司治理；四、家族事業透過閉鎖型股份有限公司追求股權穩定性及股權傳承。

Family Business is one of the most common forms of business model in the world. In Taiwan, many of the largest thirty business groups are controlled by specific families. Nevertheless, around 60% of the managers do not have clear succession plans. The study is motivated by the fact that the succession of family business is a difficult task worldwide. A research from Merrill Lynch shows that 15% of family business in East Asia have successfully passed their business to the second generation; however, only 2% of them are smoothly passed to the third generation. Research also indicates that up to two thirds of the family business in the U.S. failed to survive. This study applies the case study approach to analyze the succession of the family business transition of two TSEC Listed Companies. Based on the results of the analysis, we provide four suggestions for managing transition of family business. First, set up the family constitution for estate planning. Second, form the family committee to separate franchise and ownership. Third, enhance corporate governance. Fourth, establish closed company to pursue equity stability and equity succession.