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1 101/9, pp C * 鍾喜梅鄭力軒詹淑婷林佳慧 2010 NSC H MY2 00C

2 : Godfrey, 2005: : % % 8.16% 5.24% 3.89% 2006

3 401 e.g., Barney, 1991: e.g., Scott, Ruef, Mendel, and Caronna, 2000 Barney, 1991: ; Penrose, 1995 Pfeffer and Salancik, 1978 institutional environment DiMaggio and Powell, 1983:

4 402 Gómez-Mejía, Haynes, Núñez-Nickel, Jacobson, and Moyano-Fuentes, 2007: ; James, 2006; Miller and Le-Breton-Miller, 2005; Young, Peng, Ahlstrom, Bruton, and Jiang, 2008: Chang (ed.), 2006; Granovetter, 1995: ; Khanna and Rivkin, 2001: 45 74; Yiu, Bruton, and Lu, 2005: Luo

5 403 and Chung, 2005: : : : : : Almeida and Wolfenzon, 2006: ; Levy, 2009: 77 89; Yeh, Lee, and Woidtke, 2001: Almeida and Wolfenzon, 2006: ; Levy, 2009: 77 89; Luo and Chung, 2005: pyramidal structurealmeida and Wolfenzon, 2006: ; Levy, 2009: controlling shareholders voting rights La Porta, Lopez-de-Silanes, and Shleifer, 1999: Claessens, Djankov, and Lang, 2000: ; 1 La Porta et al. 1999: %

6 404 Young et al., 2008: Almeida and Wolfenzon, 2006: ; Morck, Wolfenzon, and Yeung, 2005: Levy, 2009: e.g., Claessens, Fan, Djankov, and Lang, 1999; Claessens et al., 2000: ; La Porta et al., 1999: ; Morck and Yeung, 2003: ; Morck et al., 2005: ; Young et al., 2008: e.g., 2003a: 15 31; 2003b: : technological environment institutional environmentscott, 2008 Meyer and Rowan, 1977: DiMaggio and Powell 1983: 148 sets of organizations that in the aggregate

7 405 constitute a recognized area of institutional life; key suppliers resource and product consumers regulatory agencies and other organizations that produce similar services or products isomorphism coercive isomorphism normative isomorphism mimetic isomorphism soft Scott, 2008; Scott et al., 2000; Stevens, Armstrong, and Arum, 2008: ; 1995: : : professionalization 2002: DiMaggio and Powell, 1983: ; Meyer and Rowan, 1977:

8 406 Scott et al., /3/13

9 407 Casciaro and Piskorski, 2005: ; Pfeffer and Salancik, 1978 Oliver 1991: acquiesce compromise avoid defy manipulate Tolbert 1985: : : : /11/9 2011/11/9

10 % Tolbert, 1985: : /1/ /3/ % 32

11 409 Morck et al., 2005: Granovetter, 1995: Gómez-Mejía et al., 2007: Gómez-Mejía, Makri, and Kintana, 2010: Levy, 2009: 77 89; Morck et al., 2005:

12 410 Gómez-Mejía et al., 2007: Casciaro and Piskorski, 2005: ; Pfeffer and Salancik, : : : : :

13 : Almeida and Wolfenzon, 2006: longitudinal

14 412 𡛼𥕛𥐥𣄃 small N nominal comparison Mahoney, 2003: Skocpol 1979 Mills 1959 method of agreement method of difference

15 Neuman,

16 414 9 ㈠圖 1: 霖園集團醫療體系之控股關係 (2008 年 ) 100% ㈡

17 圖 2: 台塑集團醫療體系之控股關係 (2008 年 ) 7.07% 8.38% 18.58% N/A 3.16% N/A N/A 4.60% N/A

18 416 圖 3: 台塑集團教育體系之控股關係 (2008 年 ) N/A N/A 0.47% N/A N/A 2.13% N/A 1.11% 1.25% N/A ㈢ %

19 417 圖 4: 遠東集團醫療機構之控股關係 (2008 年 ) 100% 圖 5: 遠東集團教育體系之控股關係 (2008 年 ) N/A N/A N/A 1.41% 4.81% 4.68% 2.74% N/A ㈣

20 418 圖 6: 新光集團醫療體系之控股關係 (2008 年 ) N/A 6.68% 7.54% 6.34% 8.78% 3.37% N/A ㈤

21 圖 7: 奇美集團醫療體系之控股關係 (2008 年 ) N/A N/A N/A ㈥ % 10% 80% 圖 8: 大同集團教育體系之控股關係 (2008 年 ) 80% 7.55% 10% 0.69%

22 420 ㈦ % 圖 9: 義聯集團教育體系之控股關係 (2008 年 ) N/A N/A N/A 圖 10: 義聯集團醫療體系之控股關係 (2008 年 ) 24.2%

23 421 ㈠ Claessens et al., 1999; 2000: ; La Porta et al., 1999: ; Morck et al., 2005: % Banerji and Sambharya, 1996: ; Kim, Hoskisson, and Wan, 2004: ; Sambharya and Banerji, 2006: 7 37 表 1: 家族企業集團企業醫院大學之股權結構

24 422 ㈡ 21 80% 22 80% /3/ /7/ /12/ /8/

25 ㈢ Anderson and Reeb, 2004: ; Gómez-Mejía et al., 2007: ; Villalonga and Amit, 2006:

26 424 表 2: 七集團之醫院與大學的持股與被持股關係比較 % % % % 7 8%

27 425 𤤳表 3: 醫院大學對集團核心公司持股與該集團多角化程度之比較 % 2.57% 3.05% 2.57% 2.57% 2.69% 2.69% 4.38% 5.18% 5.18% 5.18% 7.07% % 7.00% 0.44% 0.40% 2.54% 3.74% N/A 3.01% 2.75% 2.62% 3.37% % N/A N/A N/A N/A 8.24% 8.24% 8.18% 8.16% 8.16% 8.19% 8.19% 8.16% 7.76% 7.57% 7.55% 1 N/A N/A N/A N/A % 2.71% 2.74% 2.74% 2.74% 2.74% 2.74% % 5.09% 4.76% 4.81% 4.81% 4.81% 4.81% 4.81% N/A

28 % 2 3% 𤤳表 4: 醫院大學持股與家族企業集團多角化程度比較

29 427 Almeida and Wolfenzon, 2006: ; Claessens et al., 2000: ; Levy, 2009: 77 89; Yeh et al., 2001: DiMaggio and Powell, 1991; Meyer and Rowan, 1977: ; Oliver, 1991: ; Scott, 2008 DiMaggio and Powell, 1983:

30 428 DiMaggio and Powell, 1991; Meyer and Rowan, 1977: ; Oliver, 1991: ; Scott, 1987: ; 2008; Selznick, 1996: Banerji and Sambharya, 1996: ; Kim et al., 2004: ; Sambharya and Banerji, 2006: 7 37 Fligstein, : 28 45

31 429 Almeida and Wolfenzon, 2006: Young et al., 2008: :

32 : Scott, 2008 philanthropy charity : 28 45

33 431 A chinatimes.com/money/9709fpg-king/04/ htm : : : TVBS : gvm.com.tw/board/content.aspx?go=cover&ser=

34 432 media.com/applenews/article/art_id/ /issueid/ : : : a 42: b 43: : : : : : : Beyond Late Development: Taiwan s Upgrading Policies. Cambridge, Mass.: MIT Press : B. Almeida, Heitor V. and Daniel Wolfenzon 2006 A Theory of Pyramidal Ownership and Family Business Group, Journal of Finance 61(6):

35 433 Anderson, Ronald C. and David M. Reeb 2004 Board Composition: Balancing Family Influence in S&P 500 Firms, Administrative Science Quarterly 49(2): Banerji, Kunal and Rakesh B. Sambharya 1996 Vertical Keiretus and International Market Entry: The Case of the Japanese Automobile Ancillary, Journal of International Business Studies 27(1): Barney, Jay 1991 Firm Resource and Sustained Competitive Advantage, Journal of Management 17(1): Casciaro, Tiziana and Mikotaj J. Piskorski 2005 Power Imbalance, Mutual Dependence, and Constraint Absorption: A Closer Look at Resource Dependence Theory, Administrative Science Quarterly 50(2): Chang, Se-jin (ed.) 2006 Business Groups in East Asia: Financial Crisis, Restructuring, and New Growth. New York: Oxford University Press. Claessens, Stijn, Joseph P. H. Fan, Simeon Djankov, and Larry H. P. Lang 1999 Expropriation of Minority Shareholders: Evidence from East Asia, Policy Research Working Paper No Washington, DC: World Bank. Claessens, Stijn, Simeon Djankov, and Larry H. P. Lang 2000 The Separation of Ownership and Control in East Asian Corporations, Journal of Financial Economics 58(1 2): DiMaggio, Paul J. and Walter W. Powell 1983 The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields, American Sociological Review 48(2): The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality, pp in Paul J. DiMaggio and Walter W. Powell (eds.), The New Institutionalism in Organizational Analysis. Chicago: The University of Chicago Press. Fligstein, Neil 1991 The Structural Transformation of American Industry: An Institutional Account of the Causes of Diversification in the Largest Firms, , pp in Paul J. DiMaggio and Walter W. Powell (eds.), The New Institutionalism in Organizational Analysis. Chicago: The University of Chicago Press. Godfrey, P. C The Relationship between Corporate Philanthropy and Shareholder Wealth: A Risk Management Perspective, Academy of Management Review 30(4): Gómez-Mejía, Luis R., Katalin Takacs Haynes, Manuel Núñez-Nickel, Kathyrn J. L. Jacobson, and Jose Moyano-Fuentes 2007 Socio Emotional Wealth and Business Risks in Family-controlled Firms: Evidence from Spanish Olive Oil Mills, Administrative Science Quarterly 52(1): Gómez-Mejía, Luis R., Marianna Makri, and Martin Larraza Kintana 2010 Diversification Decision in Family-controlled Firms, Journal of Management Studies 47:

36 434 Granovetter, Mark 1995 Coase Revisited: Business Groups in the Modern Economy, Industrial and Corporate Change 4(1): James, Harold 2006 Family Capitalism: Wendels, Haniels, Falcks, and the Continental European Model. Cambridge: The Belknap Press of Harvard University Press. Khanna, Tarun and Jan W. Rivkin 2001 Estimating the Performance Effects of Business Groups in Emerging Markets, Strategic Management Journal 22(1): Kim, Hicheon, Robert E. Hoskisson, and William P. Wan 2004 Power Dependence, Diversification Strategy, and Performance in Keiretsu Member Firms, Strategic Management Journal 25(7): La Porta, Rafael, Florencio Lopez-de-Silanes, and Andrei Shleifer 1999 Corporate Ownership around the World, Journal of Finance 54(2): Levy, Marc 2009 Control in Pyramidal Structures, Corporate Governance: An International Review 17(1): Luo, Xiaowei and Chi-nien Chung 2005 Keeping It All in the Family: The Role of Particularistic Relationships in Business Group Performance during Institutional Transition, Administrative Science Quarterly 50(3): Mahoney, James 2003 Strategies of Causal Assessment in Comparative Historical Analysis, pp in James Mahoney and Dietrich Rueschemeyer (eds.), Comaprative Historical Analysis in the Social Sciences. New York: Cambridge University Press. Meyer, John W. and Brian Rowan 1977 Institutionalized Organizations: Formal Structure as Myth and Ceremony, American Journal of Sociology 83(2): Miller, Danny and Isabelle Le-Breton-Miller 2005 Managing for the Long Run: Lessons in Competitive Advantage from Great Family Businesses. Boston: Harvard Business School Press. Mills, C. Wright 1959 The Sociological Imagination. New York: Oxford University Press. Morck, Randall and Bernard Yeung 2003 Agency Problems in Large Family Business Groups, Entrepreneurship Theory and Practices 27(4): Morck, Randall, Daniel Wolfenzon, and Bernard Yeung 2005 Corporate Governance, Economic Entrenchment, and Growth, Journal of Economic Literature 43(3): Neuman, Lawrence W Social Research Methods: Qualitative and Quantitative Approaches, 6 th ed. Boston, MA: Allyn & Bacon Press.

37 435 Oliver, Christine 1991 Strategic Responses to Institutional Processes, The Academy of Management Review 16(1): Penrose, Edith 1995 The Theory of the Growth of the Firm, 3 rd ed. Oxford: Oxford University Press. Pfeffer, Jeffrey and Gerald R. Salancik 1978 The External Control of Organizations: A Resource Dependence Perspective. New York: Stanford University Press. Sambharya, Rakesh B. and Kunal Banerji 2006 The Effect of Keiretsu Affiliation and Resource Dependencies on Supplier Firm Performance in the Japanese Automobile Industry, Management International Review 46(1): Scott, Richard W The Adolescence of Institutional Theory, Administrative Science Quarterly 32(4): Institutions and Organizations: Ideas and Interests, 3 rd ed. London: Sage Publications Ltd. Scott, Richard W., Martin Ruef, Perter J. Mendel, and Carol A. Caronna 2000 Institutional Change and Healthcare Organizations: From Professional Dominance to Managed Care. Chicago: University of Chicago Press. Selznick, Philip 1996 Institutionalism Old and New, Administrative Science Quarterly 41(2): Skocpol, Theda 1979 States and Social Revolutions. New York: Cambridge University Press. Stevens, Mitchell L., Elizabeth A. Armstrong, and Richard Arum 2008 Sieve, Incubator, Temple, Hub: Empirical and Theoretical Advances in the Sociology of Higher Education, Annual Review of Sociology 34: Tolbert, Pamela S Institutional Environments and Resource Dependence: Sources of Administrative Structure in Institutions of Higher Education, Administrative Science Quarterly 30(1): Villalonga, Belen and Raphael Amit 2006 How Do Family Ownership, Control and Management Affect Firm Value? Journal of Financial Economics 80(2): Yeh, Yin-hua, Tsun-siou Lee, and Tracie Woidtke 2001 Family Control and Corporate Governance: Evidence for Taiwan, International Review of Finance 2(1 2): Yiu, Daphne, Garry D. Bruton, and Yuan Lu 2005 Understanding Business Group Performance in an Emerging Economy: Acquiring Resources and Capabilities in Order to Prosper, Journal of Management Studies 42(1):

38 436 Young, Michael N., Mike W. Peng, David Ahlstrom, Garry D. Bruton, and Yi Jiang 2008 Corporate Governance in Emerging Economies: A Review for the Principal-principal Perspective, Journal of Management Studies 45(1):

39 437 The Role of Hospitals and Universities in Share-holding Chains in Family Business Groups: A Dialogue between Institutional and Resource Dependence Viewpoints Hsi-mei Chung Associate Professor, Department of Business Administration I-Shou University Li-hsuan Cheng Assistant Professor, The Graduate Institute of Sociology National Sun Yat-sen University Shu-ting Chan Ph.D. Candidate, Department of Business Management National Sun Yat-sen University Chia-hui Lin Research Assistant, Department of Business Management National Sun Yat-sen University ABSTRACT Family governance is a kind of typical governance structure in large business groups and small to medium-sized business enterprises around the world. One distinctive phenomenon in family business groups in Taiwan is that some may utilize hospitals or universities in a cross-sharing role in a pyramidal ownership structure. This research tries to examine the role of hospital and the university in the pyramidal ownership structure in a family business group from the institutional and the resource dependence theory viewpoints. Analyzing over 20 years of data, the results indicate that the controlling family may own the hospital or university s shares by family members or associations directly. Furthermore, the hospital or the university is usually the majority shareholder

40 438 of key affiliate firms in the family business group. Therefore, the controlling family may utilize the hospital or university to sustain the shareholdings and management in those key affiliate firms in this family business group. This research provides insights in discussing the hospital and the university role in control and strategic implications in large family business groups. Key Words: family business group, institutional theory, resource dependence theory, non-profit organization, pyramidal ownership structure

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untitled RESEARCH REPORT 1 2 3 4 Black2001 Berle Means 1932 1997 1990 1997 2005 1 1932 Berle Means 2 European Corporate Institute European Corporate Governance Network 1997 50 43%34.5% 34.9% 9.9%8.6% 5.4% ClaessensDjankow