本研究運用察覺－動機－能耐觀點（awareness-motivation-capability perspective, AMC）、驅動因子－競爭行為－結果模型及調節式中介（moderated-mediation）模型，探討董事會屬性與廠商績效之間的機制。採用次級資料與調查法來蒐集103家台灣上市櫃公司的廠商資訊進行統計分析。研究結果顯示，董事會規模、董事會連結、內部董事比例是競爭積極性的重要前因，而環境豐富性在董事會連結與競爭積極性間、內部董事比例與競爭積極性間關係的調節效果得到支持。再者，競爭積極性對董事會連結與廠商績效間的關係具有顯著的中介效果。此外，調節式中介模型顯示，在低度豐裕的環境中，董事會連結透過競爭積極性影響廠商績效的間接效果會更為強烈。
本研究具有重要的研究意涵。首先，董事會是公司內部最高決策階層，然而，以往動態競爭的研究很少探討董事會與競爭行為的關係。本研究運用AMC觀點檢視董事會屬性對競爭積極性的影響，補足了此領域的研究。其二，在董事會文獻中，很少有研究從廠商的競爭行為探討董事會影響廠商績效的機制。本研究運用察覺－動機－能耐觀點與驅動因子－競爭對抗－結果模型，來揭露這項機制，補足這方面的研究缺口。最後，本研究提出的調節式中介模型，有助於動態競爭領域與公司治理領域產生更多的交流。

This study employs the awareness-motivation-capability (AMC) perspective, the drivers-competitive behavior-outcome model and the moderated-mediation model to examine the mechanisms between board attributes and firm performance. Using both survey and secondary data collected from 103 firms listed on TSE and OTC, the results show that board size, number of board’s interlocks, insider ratio are key determinant of competitive aggressiveness while the moderating effects of environmental munificence on the relationships between number of board’s interlocks and action aggressiveness and between insider ratio and action aggressiveness were supported. Moreover, moderated-mediation analyses show that the indirect effect of number of board’s interlocks on firm performance through competitive aggressiveness will be stronger under lower levels of munificence.
This study has significant research implications. First, board is at the top in a company. However, in the competitive dynamics literature few studies explore the relationship between board attributes and firm-level competitive behaviors. The study examines the effect of board attributes on competitive aggressiveness to complement previous studies by employing the AMC perspective. Second, in the board attributes literature few studies endeavors to identify the mechanisms through which board attributes can affect firm performance. This study uncovers the mechanisms to fill up the research gap by employing the AMC perspective and the drivers-competitive behavior-outcome model. Finally, the study contributes to dialogue between competitive dynamics and corporate governance by providing and examining the moderated-mediation model.

論文審定書 i
誌謝 ii
中文摘要 iv
英文摘要 v
第一章　緒論 1
第一節　研究動機 1
第二節　研究目的 3
第二章　文獻探討 5
第一節　動態競爭與競爭積極性 5
第二節　董事會對公司治理的重要性 8
第三節　董事會屬性 10
第四節　環境豐富性 12
第五節　董事會規模與競爭積極性 13
第六節　董事會連結與競爭積極性 15
第七節　內部董事比例與競爭積極性 18
第八節　競爭積極性與廠商績效 20
第九節　競爭積極性的中介角色 22
第十節　環境豐富性的調節角色 23
第十一節　調節式中介模型 25
第三章　研究方法 26
第一節　研究架構 26
第二節　研究樣本 27
第三節　研究假說 29
第四節　變項之測量 30
第五節　控制共同方法變異 35
第六節　統計分析方法 36
第四章　實證研究結果 37
第一節　相關分析 37
第二節　主要分析結果 40
第三節　周延性分析 50
第五章　討論與結論 57
第一節　結果討論 57
第二節　研究意涵 61
第三節　研究限制與未來研究方向 64
參考文獻 67

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