本研究主要是以個案研究的方式對於東南亞華商集團在中國大陸市場之經營活動演化歷程作一剖析，並將其歸納出一階段性模型，同時探討階段間之運作機制與單一階段中競爭優勢之建構過程。
研究所得的主要結論如下：
1. 主軸事業之階段性成長模型：吾人可將中國正大集團之成長歷程視為該集團國際化進程的一部份。而組成這進程的關鍵性特色在於階段性的競爭優勢建構過程。從個案中本研究發現其各階段兼具有路徑相依的特色。
2. 多角化成長策略之意涵：華僑企業由於網絡關係的特性、進入時點與當時所處環境的影響而產生了嚴重非相關多角化的現象。這種因為政商網絡所衍生出的關係問題是一把兩刃劍，擅用關係將會幫助企業減輕中國大陸經營的營運難度，快速的掌握市場機會與降低環境不確定性所造成的衝擊等諸多優點。另一方面，太過依賴關係則容易使企業模糊經營焦點造成其多角化策略無法產生綜效（synergy），對於企業的長遠發展與核心競爭力的維持並無助益。

This research is to analyze the growth and evolution process of the Chinese enterprise group in China market place base on longitudinal perspective. In accordance with the finding of this study, we propose an integrated process model to explain the growth path and so does the dynamic mechanism among these dimensions in the model.
The findings of this study are stated as below:
1. The integrated model of the evolution process
Through the case study of Chai-Tai group in China, we consider the evolution and growth process is part of its internationalization activities. The dynamic interaction among the three dimensions of this model and the path dependence of each stage constitute the characteristics of this model.
2. The meaning of the un-related diversification strategy
The growth strategy of the Chinese Business groups is deeply affected by their specific social network or guanxi, entry timing and the industry/business environment situation. Un-related diversification is a common selected strategy of these Chinese business groups. But they are usually suffering from the delusion of business focus and cannot produce synergy from the un-related business units. Consequently, the un-related diversification strategies are without benefits for the enterprises to maintain their market position and develop their core competences.

第一章 緒論----------------------------------------------------------------------------1
第一節 研究背景與動機--------------------------------------------------1
第二節 研究目的-----------------------------------------------------------2
第三節 章節架構-----------------------------------------------------------3
第二章 相關理論文獻探討----------------------------------------------------------4
第一節 試驗性模型架構--------------------------------------------------4
第二節 企業國際化進程理論--------------------------------------------5
第三節 策略類型與競爭優勢相關理論探討--------------------------7
第四節 動態資源基礎理論----------------------------------------------12
第五節 企業多角化成長策略-------------------------------------------16
第三章 研究方法----------------------------------------------------------------------20
第一節 研究對象-----------------------------------------------------------20
第二節 研究設計-----------------------------------------------------------20
第三節 研究限制-----------------------------------------------------------24
第四章 個案發展----------------------------------------------------------------------26
第一節 個案陳述-----------------------------------------------------------26
第二節 個案分析-----------------------------------------------------------37
第三節 正大集團之多角化成長策略分析-----------------------------50
第五章 綜合討論----------------------------------------------------------------------55
第一節 經營歷程模型化--------------------------------------------------55
第二節 模型應用與比較--------------------------------------------------61
第六章 結論與建議-------------------------------------------------------------------66
參考文獻---------------------------------------------------------------------------------68
附錄一 香港卜蜂國際股份有限公司附屬公司、共同控制企業及聯營公司一
覽表----------------------------------------------------------------------------71
附錄二 香港富泰股份有限公司附屬公司、共同控制企業及聯營公司一覽表
----------------------------------------------------------------------------------80
附錄三 本研究問卷-------------------------------------------------------------------83

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