產業結構在垂直整合與垂直分工兩種形態間更替循環，形成歷史常態而存在規則，整合或分工之產業行為所隱含的產業經營模式與產業績效也持續被探討。本研究以台灣半導體產業現況為實証對象，利用賽局理論之Cournot數量競爭模型推導分合係數，針對上下游產業垂直整合與垂直分工決策模式進行研究，研究主要目的在於探討產業整合或分工的決策模式，觀察重點包括產業所呈現之廠商家數與廠商成本函數對產業的影響，以期了解產量、固定成本、變動成本以及交易成本的變動如何影響產業趨向。研究結果發現當下游廠商家數大於分合係數，則廠商將傾向於採用垂直分工模式以獲得最大利潤；反之，若下游廠商家數小於分合係數，則廠商將傾向垂直整合模式。而影響分合係數大小的因素有上游廠商的固定成本、上游廠商的產量、上下游廠商個別的變動成本與其他成本以及市場需求。本研究結果將有助於產業釐清其未來之挑戰及方向，進而以此做為決策活動調整的基礎。

The research is based on Cournot quantity competition model of game theory and present the Taiwan semiconductor industry as a real example. The main purpose of this study is to understand the industry decision model of vertical integration and vertical separation of downstream firms, by observing number of downstream firms, out put and cost stricture function of those firms which include fixed cost , variable cost and transaction cost etc, and to propose the use of “ Integration factor” as a monitor indicator, base on the result.
The result found the number of downstream firms bigger than integration factor, then the firms will inclination to adopt the vertical separation for obtain higher profit; on the other hand the number of downstream firms smaller than integration factor, then the firms will inclination to adopt the vertical integration for obtain higher profit.
Factors will influence the integration factor which include fixed cost, variable cost and out put of upperstream firms, variable cost of downstream firms , other cost and market demand curve.

中文部份
[1] 王光正，「垂直整合市場與策略性貿易一經濟分析」，台灣大學經濟研究所，博士論文，民國89年。
[2] 李震宇，「台灣半導體產業之垂直分工與競爭分析」，國立中央大學產業經濟研究所，碩士論文，民國96年。
[3] 洪秀婉，「台灣半導體產業垂直分工之探討」，國立交通大學經營管理研究所，博士論文，民國91年。
[4] 黃亮洲，「廠商合併之內生均衡分析」，國立台灣大學，博士論文，民國96年。
[5] 陳志成，「個人電腦工業垂直分工產業結構之形成：資源限制假說之驗證」，國立中央大學，博士論文，民國94年。
[6] 連敏芳，「台灣與全球半導體產業效率及生產力之比較」，國立交通大學管理學院，碩士論文，民國96年。
網頁部份
[1] 劉常勇管理學習知識庫：http://cm.nsysu.edu.tw/~cyliu/ 台灣積體電路公司-晶圓代工的領導者
[2] 台灣積體電路製造股份有限公司：http://www.tsmc.com.tw
[3] 電子工程專輯：http://www.eettaiwan.com
[4] IC Knowledge LLC：http://www.icknowledge.com/
[5] International Technology Roadmap for Semiconductors︰http://www.itrs.net/
[6] EETIMES：http://www.eetimes.com
[7] IC Insights：http://www.icinsights.com
[8] Strategic Marketing Associates (SMA) ; http://www.scfab.com/
[9] ISuppli：http://www.isuppli.com/
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