跳到主要內容

簡易檢索 / 詳目顯示

研究生: 吳兆傑
Chao-Chieh Wu
論文名稱: 高階主管在產業風潮下的決策行為—以世界電訊產業泡沫化為例
指導教授: 林子銘
Tzu-Ming Lin
口試委員:
學位類別: 碩士
Master
系所名稱: 管理學院 - 高階主管企管碩士班
Executive MBA Program
畢業學年度: 92
語文別: 中文
論文頁數: 96
中文關鍵詞: 電訊產業決策群羊行為購併高階主管泡沫
外文關鍵詞: Bubble, Decision Making, Herd Behavior, Mergers & Acquisition, Executives, Telecommunication Industry
相關次數: 點閱:9下載:0
分享至:
查詢本校圖書館目錄 查詢臺灣博碩士論文知識加值系統 勘誤回報
  • 2000 年全球電訊產業由盛而衰,期間反轉的速度令人驚訝,許多電訊公司在一夕之間進入破產法保護之列,許多執行長及高階主管在此波風潮中黯然失色,輕則聲望受挫,下台負責、重則違法入獄,產業大幅裁員也造成數十萬的電訊從業人員失去工作,還有為數眾多的投資大眾因為電訊產業的崩盤而蒙受巨大的損失,等待解套之殷望,至今仍遙遙無期。這些現象的發生與產業泡沫化的形成、破裂,在人類文明進程中所留下來的產業發展史與經濟史中,皆有許多前例可供殷鑑,然而類似的事情卻一再發生,其中必有留給高階主管回顧及省思之處。
    產業高階主管普為社會菁英賢達之人,須能深思熟慮、繼往開來,資方及勞方必定也委以重任,他們也無不全力以赴,以追求公司、個人及社會三贏之局面,但是 2000 年許多跨國電訊公司執行長及高階主管卻鮮少能帶領公司豁免於危機之境,反而加速公司傾頹之勢,考其原因,無非是其決策行為錯誤所致,而背後的因素與高階主管的群羊行為,加上因公司最高職務所伴隨而生的人格特質有莫大的關聯。
    高階主管身處知識經濟時代中,資訊雖隨手可得,然而重要的是在建立系統性的概念能力的同時,也需建立抽象性的思維能力,再以「膽」與「識」貫徹心中定見,方能做出卓然出眾的決策,引領公司邁向榮景,古云「胸中自有百萬兵甲」、「決勝於千里之外」,正是如此。
    本研究以電訊產業興衰為背景題材,將當時指標性的執行長與產業要角,在當時所採取的決策行為模式加以整理,期能提供企業高階主管決策時之參考。


    目錄....................................................................................................................................VI 圖目錄................................................................................................................................VII 表目錄..............................................................................................................................VIII 第1 章 緒論........................................................................................................................1 1.1 研究背景.................................................................................................................. 1 1.2 研究動機...................................................................................................................3 1.3 研究目的...................................................................................................................3 1.4 研究流程...................................................................................................................4 第 2 章 文獻探討.............................................................................................................5 2.1 電訊產業發展背景及過程 ...................................................................................6 2.2 產業生命週期現象探討 ......................................................................................16 2.3 造成電訊產業風潮的因素 ................................................................................. 22 2.4 群羊現象探討..........................................................................................................24 2.5 高階主管決策失敗的原因 ..................................................................................31 第 3 章 研究設計............................................................................................................39 3.1 研究問題定義 ........................................................................................................39 3.2 研究設計及方法......................................................................................................39 3.3 研究架構..................................................................................................................39 3.4 研究限制..................................................................................................................40 第 4 章 電訊產業高階主管思維及決策行為.........................................................41 4.1 歷史上的幾次泡沫經濟 .......................................................................................41 4.2 各種產業風潮之 Boom and Bust 現象 ..............................................................43 4.3 世界主要電訊公司市場表現與泡沫化現象 .....................................................48 4.4 高階主管對產業發展的見解................................................................................55 4.5 權威人士及從眾心理.............................................................................................61 4.6 不理性的購併行為 ...............................................................................................63 4.7 電訊產業大規模裁員............................................................................................68 4.8 幾家電訊公司高階主管的案例...........................................................................69 4.9 高階主管的決策行為............................................................................................77 第 5 章 結論與建議................................................................................................... 85 參考文獻.............................................................................................................................89 圖目錄 圖 1.1 : 近 4 年來 NASDQ 電訊服務及設備產業群組指數(.TES)走勢圖........2 圖 1.2 : 本研究流程 ....................................................................................................... 4 圖 2.1 :本研究文獻探討架構圖 ................................................................................... 5 圖 2.2 :AT&T 在 1985 年以後其長途電訊市場通訊時間佔有率趨勢圖 ...........7 圖 2.3 :新電訊產業結構................................................................................................13 圖 2.4 :電訊產業價值鏈 ..............................................................................................15 圖 2.5 :壟斷與不不均衡現象關係 ............................................................................ 17 圖 2.6 :產業的演進五個階段 .....................................................................................18 圖 2.7 :Moore 的產業生命週期 .................................................................................19 圖 2.8 :Nairn 的 5 階段模型 .....................................................................................20 圖 2.9 :Asch 群體壓力實驗套卡 ................................................................................ 27 圖 3.1 :本研究架構圖 ...................................................................................................40 圖 4.1 :1820 年–1830 年 英國採礦概念股股價指標與相對走勢圖 ................. 44 圖 4.2 :1811 年–1851年 英國運河股價指標相對走勢圖 .....................................45 圖 4.3 :1826 年–1920 年 英國鐵路股價相對走勢圖 ...........................................46 圖 4.4 :1903 年–1927 年 美國汽車公司的倒閉率 ...............................................47 圖 4.5 :1911 年–1925 年 General Motor 股價相對走勢圖 ..................................48 圖 4.6 :2000 年– 2004 年 世界主要電訊服務公司股價走勢圖 .......................50 圖 4.7 :2000 年– 2004 年 世界主要電訊設備公司股價走勢圖 .........................52 圖 4.8 :「牛鞭效應」(Bullwhip Effect)示意圖 .............................................................53 圖 4.9 :AT&T 與 Lucent 股價波動比較圖 ...............................................................54 圖 4.10:Cisco 與 Broadcom 股價波動比較圖 ...........................................................54 圖 4.11:Consensual Vision 認為寬頻價格下跌對市場規模之影響 .........................56 圖 4.12:國際 PSTN 及 VoIP 流量的研究報告 ........................................................59 圖 4.13:美國產業購併風潮與經濟衰退關係 .............................................................64 圖 4.14:美國電訊產業員工雇用數目走勢圖...............................................................69 圖 4.15:電訊產業 CEO 失敗迴旋 ..............................................................................81

    網站部分:
    http://www.businessweek.com
    http://www.wallstreetcity.com
    http://www.bankruptcydata.com
    http://www.telegeography.com/
    http://www.oecd.org
    http://quotes.nasdaq.com
    http://www.chiefexecutive.net/depts/routetotop2003/186.htm
    http://www.bloomberg.com/
    http://www.challengergray.com/
    英文部分:
    1. Arnst & Mandel., " The Coming Telescramble: Deregulation is launching a $ 1 trillion digital free-for-all " , Business Week, April 8, 1996, pp.64-67 .
    2. Asch, S. E., “ Studies of Independence and Conformity: A Majority of One Against a Unamimous Majority,”, Psychological Monographs, 1956, pp.70-79.
    3. “ Area Laments Ebbers Leaving Post, ”, Clarion-Ledge , Editorial May 1, 2002.
    4. Banerjee, A.V., “ A Simple Model of Herd Behavior ”, Quarterly Journal of Economics, 107, 1992, pp.797~817.
    5. Barbarino, A. and Jovanovic, Boyan, .“ Shakeouts and Market Crashes, ” , working paper, University of Chicago, 2003.
    6. Barrett , Amy with Elstrom , Peter.,“ Making WorldCom Live Up to Its Name”, Business Week , July 14, 1997, p.64.
    7. Berck, Peter and Lipow, Jonathan., “ Managerial Reputation and the endgame” , Journal of Economic Behavior & Organization Vol. 42 ,2000, pp.253–263.
    8. Belsky, Gary and Gilovich, Thomas. , “ Why Smart People Make Big Money Mistakes : and How to Correct Them “, New York : Simon & Schuster , 1999, pp.201-206.
    9. Berman, Dennis et al., “ As Market Bubble Neared Its End, Bogus Swaps Padded the Book, ”, Wall Street Journal, December 23, 2002, p.A1.
    10. Bernstein, Peter L., “ Against the Gods : the Remarkable Story of Risk “ , New York : John Wiley & Son, Inc. , 1996.
    11. Bieshaar, Hans. Et. al.,” Deals That Creat Value,”, McKinsey Quarterly, No. 1, 2001, p.65.
    12.Bikhchandani.S.,“ Herd Behavior in Financial Markets:A Review ”, IMF Working Paper, 2000 , pp.00-48.
    13. Bourreau and Dogy., “ Regulation and innovation in the telecommunications
    Industry “, Telecommunications Policy , 25 , 2001, pp.167-184 .
    14. Chandler, Alfred D.,“ The Visible Hand : The managerial Revolution in American Business “ , Cambridge,Massachusetts and London, England : The Belknap Press of Harvard University Press , 1977, pp.337-339.
    15. Cheng et al., “ Boom and gloom in the global telecommunications industry “, Technology in Society ,Volume 25, Issue 1, January, 2003, pp.65-81 .
    16 Couper A , Elise. et al., “ Boom and Bust in Telecommunications “ , Economic Quarterly - Federal Reserve Bank of Richmond. Richmond: Fall, 2003. Vol. 89, Iss. 4 2003 , p.1 .
    17. Creswell , Julie with Prins, Nomi., “ The Emperor of Greed, ”, Fortune, June 24, 2002 , pp.106-113.
    18. Cukier, K. N., “ The global Internet: a primer ”, Telegeography , Washington, DC : Telegeography, 1999, pp.112-145.
    19. Deogun, Nikhil with Lipin, Steven., ” When the Big Deal Turns Bad. ”, Wall Street Journal, December 8, 1999 , p.B1.
    20. Dern , Daniel P.,“ Internet Visionary , Part II : An Interview with John Sidgmore, ” , Telecommunication , August 1997.
    21. Devenow, A., and Welch, I., “ Rational Herding in Financial Economics. ”, European Economic Review , 1996, p.40.
    22. Dober, Peter., “ Broadband – Boom and Bust in the new Economy. “, 2002.
    23. Donolon, J.P., “ Optical Dis-illusion, ” , Chief Executive, November 2000.
    24. Dotlich, David L.,“ Why CEO Fail : the 11 Behaviors that Can Derail Your Climb to the Top – and How to manage Them “, New York : John Wiley & Son, Inc. , 2003.
    25. Easton, Thomas.,“ The $ 20 Billion Crumb, ”, Forbes, April 19, 1999 , pp.242-250 .
    26. Economides, N., “ The economics of networks, “, International Journal of Industrial Organization 14, 1996, pp.673-699.
    27. Elstrom, Peter., “ The Great Internet Money Game , How America’s Top Financial Firms Reaped Billions from the Net Boom, While Investors Got Burned, ”, Business Week, Jun 18, 2001.
    28. Epstein, R.C., “ The Automobile industry. ” , Chicago and New York : A.W. Shaw
    Company, 1928, pp.176-177.
    29. Finkelstein, Sydney.,“ Why Smart Executives Fail : and What You Can Learn from Their Mistakes “, New York : Portfolio , 2003.
    30. Fligstein, N., “ The Spread of the Multidivisional Form among Large Firms, 1919-1979 ”, American Sociological Review, 50 , 1985, pp. 377-391.
    31. Fransman, Martin., ” Evolution of the telecommunications industry into the internet age. ” , Communications and Strategies, 43, 2001, pp.57–113.
    32. Fransman, Martin.,” Telecoms in the Internet Age : from Boom to Bust “, New York : Oxford University Press , 2002.
    33. Fredman , Catherine., “ 2003 Route to the Top: White-Collar Climb ” Chief Executive Vol. 1876 , 2003.
    34. General Motors annual reports ; CRSP, Center for Research in Security Prices; GraduateI School of Business, The University of Chicago. Used with permission. All rights reserved.I www.crsp.uchicago.edu; The New York Times, “ The Commercial and Financial Chronicle”, 2000.
    35. Gilder, George., ” Mike Kilken and the two Trillion Dollar Opportunity, ”Forbes ASAP, April 1, 1995.
    36. Gilder, George and Swanson, Bret., ” Telecosm Explosion , ” Forbes ASAP , February 19 , 2001.
    37. Gort, Michael and Klepper, Steven., “ Time Paths in the Diffusion of Product Innovations, ” , The Economic Journal, September, 1982, pp.630-653.
    38 Graham, J.R., “ Herding Among Investment Newsletters : Theory and Evidence ”, Journal of Finance, 1999, p.54.
    39. Harris, Roy.,”A Lesson Before Buying, “ , CFO , May 2002. pp.58-65.
    40. Hawkins, D. Victor “ LDDS It Happened Right Here in Mississippi”, Jackson Journal of Business, February 1998 .
    41. Haunschild, P.R., “ Interorganizational Imitation: the Impact of Interlocks on Corporate Acquistition Activity ”, Administrative Science Quarterly, 38 , 1993, pp.564-592.
    42. Hill, C. W., and Jones, G. R.,” Strategic Management Theory ”, Boston: Houghton Mifflin , 2001.
    43. Hopenhayn, Hugo A.., “ The Shakeout, ” , Economics Working Paper, Universitat Pompeu Fabra ,1993 , p.33.
    44. Horvath, Michael, Fabiano,Schivardi and Woywode, Michael., “ On Industry Life-Cycles: Delay, Entry, and Shakeout in Beer Brewing, ” , International Journal of Industrial Organization, 19, 2001, pp.1023-1052 .
    45. Howe, J. Peter., “ Layoffs Shrink in Some High-Tech Sectors, Study Shows “ ,
    Knight Ridder Tribune Business News. Washington , July 15, 2002, p.1 .
    46. IBM Corporate Strategy, “ Global Market Trend ”, IBM , March 17, 1999.
    47. Ingebretsen, Mark.,“ Why Companies Fail : the 10 Big Reasons Businesses Crumble , and How to Keep Yours Strong and Solid “, New York : Crown Business , 2003.
    48. International Telecommunication Union, Americas telecommunication indicators 2000 (executive summary), Geneva, Switzerland, April, 2000.
    49. Jansen., “ Pre- und Post Merger-Integration in Cross Border Transactions Trends, Tools, Theses, and Empirical Tests of Old and New Economy Deals “, 2000 .
    50. Jovanovic, Boyan and MacDonald, G. M., “ The Life Cycle of a Competitive
    Industry, ” , Journal of Political Economy, 102 , April, 1994, pp.322-347.
    51. Kaplan, Karen and Douglass, Elizabeth.,” Global’s Unsinkable Capitan, ”, Los Angeles Times, July 4, 2002.
    52. “ Key AT&T Executive, Joseph P. Nacchio, to Join Qwest Communications as President and CEO, ”, PR Newswire, December 22, 1996.
    53. Kharif, Olga.,” The Fiber-Optic Glut " BusinessWeek.Com, August 31, 2001
    54. Kindleberger, Charles P.,” Manias , Panics , and Crashes : A History of Financial Crises “ , New York : John Wiley & Son, Inc. 1978 , p.31.
    55. Klayman, Ben. “ Lucent Investors Still Worried About Bankruptcy “ , Reuters (Chicago) ,October 16 , 2002.
    56. Klepper, Steven and Graddy, Elizabeth., “ The Evolution of New Industries and the Determinants of Market Structure, ” The Rand Journal of Economics, 21 ,1990 , pp.27-44.
    57. Klepper, Steven and Simons, Kenneth., “ The Making of an Oligopoly : Firm Survival and Technological Change in the Evolution of the U.S. Tire Industry, ” , Journal of Political Economy, 108, 4, 2000, pp.728-758.
    58. Krause, Jason.,“ Blind with Science, ”, Industry Standard , March 26, 2001.
    59. Krause, Jason., “ Pulling Lucent Back from the Brink, “ , The Industry Standard.com, February 9, 2001.
    60. Krim, Jonathan., ” Fast and Loose at WorldCom,”, Washington Post, August 29, 2002.
    61. Kupfer, Andrew., ” The Real King of the Internet ”, Fortune, September 7, 1998, pp.84-91.
    62. Lakonishok. J., A.Shleifer and R.W.Vishny, “ The Impact of Institutional Trading on Stock Prices ”, Journal of Financial Economics, 1992, pp.23-43,82.
    63. Levenson, Lisa.,” Qwest’s Nacchio, Telecom Survivor, Faces Big Rivals, Slow Times, ”, Bloomberg Markets, October , 2001.
    64. Lieberman, M. B. and Montgomery, D. B., “ First-mover (dis)advantages: retrospective and link with the resource-based view, ”, Strategic Management Journal, 19, 1998, pp.1111-1225.
    65. Locke , Christropher P. and Copeland, Michael.,“ Hello, Lucent ? The Big Red Zero Tries to Reinvent Itself, ”, Red Herring, December 19, 2000 , pp.96-100.
    66. Loomis , Carol J., “ The Whistleblower and the CEO ”, Fortune.com . 2001.
    67. Lynch, Grahame., “ Brandwidth Bubble Burst : The Rise and Fall of the Global Telecom Industry “, Lincoln NE. : Authors Choice Press , 200. pp.3-14.
    68. Madden, Andrew P.,”Fierce Competitors,” Red Herring, November ,1997.
    69. MacKay, Charles.,“ Extraordinary Popular Delusions & the Madness of Crowds “ , New York : Three Rivers Press , 1841, pp.92-101.
    70. Malik, Om., “ Broadbandits : Inside the $ 750 Billion Telecom Heist “, New York : John Wiley & Son, Inc. , 2003.
    71. Malik, Om., ” Vinod Khosla Predicts Optical Shakeout, ” , Red Herring, November 2000.
    72. Maney, Kevin., ” Small-town Exec Strikes Big Deal : Down-to-Earth Style Is Secret to His Success, ”, USA Today, August 28, 1996.
    73. Markoeski , Michael. , “ Could Nortel Networks Go Bankrupt ? “ .CNW : Today on Canada''s Business Report , 2004.
    74. MaxFAX...” Cablefax. May 1, 2000, Vol. 11, Iss. 85 , p.1 .
    75 McDougall, W., “ An Introduction to Social Psychology ”, London, Methuen & Co.Ltd., 1928 .
    76. ” McGinn Walks the Walk,” , RedHerring.com, June 29 , 1999.
    77. Milgram, Stanley., “ The Perils of Obedience ”, 1974.
    75. Milgram, Stanley., “ Obedience to Authority ”, New York : Harper and Row, 1974.
    78. Moore, Geoffrey A., “ Crossing the Chasm ”, New York : Harper Business Press , 1991 .
    79. Moritz , Scott., ” Ex-CEO Puts Nortel Stock Out of his misery ” , Thestreet.com
    September 9, 2002 .
    80. Nairn, Alasdair.,“ Engines that Moves Markets : Technology Investing from Railroad to the Internet and Beyond “ , New York : John Wiley & Son, Inc. 2002, pp.3-25, 177-222, 449-459.
    81. Nortel News Release October 5, 1998.
    82. Nortel News Release November 18, 1999.
    83. Nortel Press Release, ” Nortel Networks Confirms Guidance for 2000 and 2001, Growth Expected at Rates Significantly Greater than Market, ”, December 14, 2000.
    84. Odlyzko, A. M., ” Internet growth: Is there a Moore''s Law" for data traffic ? ” Handbook of Massive Data Sets, J. Abello, P. M. Pardalos, and M. G. C. Resende, eds., 2002, pp. 47-93.
    85. Odlyzko, A. M., ” Talk, Talk, Talk: So who needs streaming video on a phone ? The killer app for 3G may turn out to be-surprise-voice calls,", Forbes, August 20, 2001, p.28.
    86. Odlyzko, A. M., ” The size and growth rate of the Internet, ", First Monday, 3, no. 10, October 1998 .
    87. Palmeri , Christopher and Weintraub, Arlene.,“ As Global Crossing Sinks, Gary Winnick Stays Dry, ” , Business Week , October 22, 2001, p.58.
    88. Raghavan, Anita.,“ For Saloman, Grubman Is the Big Telecom Rain-maker, ”, Wall Street Journal, March 25, 1997, p.A1.
    89. Raghavan, Anita., “ Jack of All Trades : How One Top Analyst Vaults ‘ Chinese Wall '' To Do Deals for Firm --- For Salomon, Grubman Is Big Telecom Rainmaker ; Investors Heed Him, Too --- A Role That''s Hard to Police “ , Wall Street Journal , Mar 25, 1997 , p.A.1 .
    90 Rajan, R.G., “ Why Credit Policies Fluctate: A Theory and Some Evidence ”, Quarterly Journal of Economics, 1994, p.436.
    91. Reinhardt, Andy.,” Meet Cisco’s Mr. Internet,”, Business Week, September 13, 1999, p.128.
    92. Rivlin, Gary., ” Madness of King George, ”, Wired, Issue 10.07 July 2002.
    93. Rosenbush, S., “ Telecommunications. ”, Business Week , 8 January, 2001, pp.98–99.
    94. Rostow , W.W. and Schwartz, Anna J., “ The Growth and Fluctuation of the British Economy ”, 1790-1850 (2 vols.), Oxford : Oxford University Press, 1953.
    95. Scharfstein, D., and J. Stein., “ Herd Behavior and Investment ”, American Economics Review, Lxxx,, 1990, pp.465~479.
    96. Seaberg, J. G., Hawn, J., Dincerler, G. E., Eugster, C. C., & Rao, N.,“ Attackers versus incumbents : The battle for value in an IP-networked world.”, The McKinsey Quarterly, 4, 1997, pp.138–153.
    97. Shinal, John G. et al.,“ At the Speed of Light : Forget those pokey copper wires--the optical network is the medium of the future “, Business Week, October 9, 2000. , Iss. 3702, p.144.
    98. Shumpeter, Joseph A.. “ The common sense of econometrics. “ Econometrica ,1933 pp. 5-12.
    99. Sias.R.W., “ Volatility and the Institutional Investor ”, Financial Analyst Journal,March/April ,1996, pp.13-19.
    100. Sirower, Mark L., “ The Synergy Trap, ”, New York : The Free Press , 1997.
    101. Smith, K.C. and Home, G.F., ” An Index Number of Securities, ”, London and Cambridge Economic Service Special Memorandum No. 37; Banker''s Magazine; Railway Times (various issues 1849 to 1868). , 1867-1914.
    102. Staples, David., ” A Telecom Prophet’s Fall from Grace, ”, Edmonton Journal, July 28, 2002, pp.D6-8.
    103. Sull, Donald N.,“ Revival of the Fittest : Why Good Companies Go Bad and How Great Managers Remake Them “ , Massachusetts : Harvard Business School Press , 2003 .
    104. Swisher, Kara.,“ Anticipating the Internet ; Good Timing , Good Deal-Making and Good Luck Turned Rick Adams’ UUNet into a Star , ”, Washington Post, May 6, 1996.
    105. Taptich ,Brian.,“ Brave New WorldCom,”, Red Herring , November 1997, pp.86.
    106. Tauzin, W.J., “ Billy ” Chairman, House Committee on Energy and Commerce, Subcommittee on Oversight and Investigations, Capacity Swaps by Global Crossing and Qwest:Sham Transactions Designed to Boost Revenues October 1, 2001.
    107. Tauzin, W.J., “ Billy ” Chairman, House Committee on Energy and Commerce, Capacity Swaps by Global Crossing and Qwest, September 24, 2002.
    108. “ The Nations CEOs Look to the Future, ”, Survey for Foundation for the Malcolm Baldrige National Quality Award, July, 1998.
    109. Thornburg, Richard., First Interim Report by Bankruptcy Court Examiner, “ Reserves and Their Role in Company’s Financial Statement, ”, November 4, 2002, p.106.
    110. Thornburg, Richard., First Interim Report by Bankruptcy Court Examiner, “ WorldCom’s Relationship with SSB and Jack Grubman, ”, November 4, 2002, p.81.
    111. Tarde, G.,“ The Laws of Imitation ”, New York : Henry Holt. 1903.
    112. Trenchard, John and Gordon, Thomas., “ Cato’s letters “, Nos 55, 59, 60 and 62 (2 and 30 December 1721 and 6 and 20 January 1722) pp.229-259.
    113. Urban,Rob.,” WorldCom Founder Still King of Range ”, Bloomberg News, August 13 , 2002.
    114. Useen, Jerry., ” The New Entrepreneurial Elite,”, Inc Magazine, December 1997.
    115. Utterback, James and Suarez, Fernando., “ Innovation, Competition, and Industry Structure, ” Research Policy, 22, 1993 , pp.1-21.
    116. Wermers.R., “ Mutual Fund Herding and the Impact on Stock Price ”, Working Paper of Colorado University , 1998.
    117 Wahl, Andrew., “ Nortel’s Next Big Thing ”, Canadian Buiness, Vol.77 Issue 3. 2004.
    118.Whalley,Jason and Li, Feng., “ Deconstruction of the telecommunications industry : from value chains to value networks “, Telecommunications Policy, 26, 2002, pp.451-457.
    119. WorldCom Annual Report , 1997.
    120. WorldCom Press release , ” WorldCom Announce $ 300 Million Expansion of UUNet Network ,”, February 19, 1997.
    121. Wulf ,Julie., ” Watch Out for the Egos ”, The Economist, April 11, 1998, pp.65-66.
    122. Young, Shawn.,“ Nortel Networks Puts Pedal to the Metal, “, USA Today, August 18, 2000.
    123. Zerega,Blaise., ” The Next Ma Bell, ”, Red Herring, May 1999.
    124. Zolnierek, Rangos., “ Industry Analysis Division Common Carrier Bureau ”, Federal Communications Commission, September 1998, pp.3-18 .
    中文部分:
    1. 王平原 譯(民 85),《10 倍速時代》,大塊文化出版,台北。 譯自:Andrew S. Grove , 1996, “ Only the Paranoid Survive ” ,頁 95-100。
    2. 王迅、徐鳴春 譯(民 92),《贏家的邏輯思維》,究竟出版,台北。 譯自:Salvator Cannavo ,1998, “ Think to Win “。
    3. 毛治國 著(民 92),《決策》,天下雜誌出版,台北,頁 329。
    4. 李田樹、李芳齡 譯(民 89),《啟動革命》,天下遠見出版,台北。 譯自:Gary Hamel , 2000, “ Leading the Revolution ”。
    5. 李佩芝、高鴻翔 譯(民 88),《理性賭局》,商周出版,台北。 譯自:H. W. Lewis , 1998, “ Why Flip a Coin:The Art and Science of a Good Decision ”。 頁 210-215,218-223。
    6. 林金榜 譯(民 92),《策略巡禮》,商周出版,台北。 譯自:Henry Mintzberg ,1998, “ Strategy Safari “,頁 229。
    7. 林麗冠 譯(民 91),《決策制定》,天下出版,台北。譯自:Peter F. Drucker et al.,1965,1966,1989,1998,2001, ” Decision Making ”, Harvard Business Review。
    8. 周翠如、齊思賢 譯(民 89),《非理性繁榮》,時報出版,台北。譯自: Robert
    J. Shiller, 2000 “ Irrational Exuberance ”。
    9. 洪財隆 譯(民 88),《克魯曼驚奇:大師解讀經濟亂象》,先覺出版,台北。譯自:Paul Krugman , 1998, “ The Accidental Theorist : and Other Dispatches from the Dismal Science ” 頁 105-110。
    10. 陳光禎,「國際化及自由化的電信產業」,台灣經濟研究月刊 86 年 12 月號,頁 11-12。
    11. 殷海光 著(民 68),《思想及方法》,大林出版,台北,頁 77-81。
    12. 黃佳瑜 譯(民 92),《企業策略家的遠見:在不確定中尋找精準的 RU 策略理論》,商智文化出版,台北。 譯自:Hugh Courtney , 2001, “ 20/20 Foresight : Crafting Strategy in an Uncertain World “。
    13. 劉世平 譯(民 91),《北電網路:高科技公司的成功典範》,商周出版,台北。 譯自:Larry MacDonald , 2000, “ Nortel Networks : How Innovation and Vision Created a Network Giant ”,頁 5-14,208-217。
    14. 劉世平 譯(民 89),《雄霸天下:思科成功的奧祕》,商周出版,台北。 譯自:Sdavid Bunnell and Adam Brate , 2000, “ Making the Cisco Connection : The Story Behind the Real Internet Superpower “,頁 137-146。
    15. 滕淑芬 譯(民 91),《風險世界:掌握變動時代下的新策略》,商周出版,台北。 譯自:Mark Haynes Daniell ,2000, “ World of Risk : Next Generation Strategy for a Volatile Era ”,頁 60-62。
    16. 葛立書 譯(民 92),《領導人的逆思考》,臉譜出版,台北。譯自:Steven B. Sample, 2002, ” The Contrarian’s Guide to Leadershi ”,頁 87-93。
    17. 賴柏洲、戚瑞國 譯(民 91),《電訊狂潮 : 無限頻寬如何改變世界》,先覺出版,台北。 譯自:George Gilder , 2000, “ Telecosm : How Infinite Bandwidth Will Revolutionize Our World ”,頁 206-226,313-326。
    18. 齊思賢 譯(民 89),《知識經濟時代》,時報出版,台北。譯自:Lester C.
    Thurow, 1999, “ Building Wealth ”,頁 56-59,85-87,。
    19. 齊思賢 譯(民 88),《貪婪時代》,時報出版,台北。譯自:Edward Chancellor
    1999, ” Devil Take the Hindmost. ”。
    20. 聯合報編譯組 譯(民 87),《全球資本主義危機》,聯經出版,台北。譯自:George Soros,1998, ”The Crisis of Global Capitalism ”,頁 55。
    21. 蘇育琪 等譯(民 92),《勇者致富:全球化,在拒絕與接受之間》,天下雜誌出版,台北。 譯自:Lester C. Thurow , 2003, “ Fortune Favors the Bold:What We Must Do to Build a New and Lasting Global Prosperity ”,頁 77-81。
    22. 羅耀宗 譯(民 91),《誰說大象不會跳舞》,時報出版,台北。譯自:Louis
    V. Gerstner Jr. , 2002, “ Who Says Elephants Can’t Dance ? ”。
    23. 顧淑馨 譯(民 83),《全球弔詭:小而強的年代》,天下文化出版,台北。 譯自:John Naisbitt , 1994, “ Global Paradox : The Bigger the World Economy , the More Powerful Its Smallest Players ”,頁 61-116。

    QR CODE
    :::