有鑑於數位匯流下市場結構的改變，使得傳統市場界定法不再適用，加上數
位匯流下各產業、企業間之結合行為不斷發生，相對的，法規及「新」的市場界
定卻仍未出現，致使各國反壟斷機關在審理數位匯流之結合案時遇到無量化工具
可用的窘狀。本研究發現，數位匯流下的市場態樣多為雙邊及多邊市場，故本研
究利用 Evans and Noel ( 2008 ) 所修正的臨界損失法 ( Critical Loss Analysis,
CLA ) 做為數位匯流下市場界定的工具，配合本研究所使用之台固媒體與凱擘的
結合案，做一完整的實證分析。因此結合案涉及水平結合、垂直結合及多角化結
合，使得本研究得以提供反壟斷機關審理數位匯流之結合案時，一完整的政策、
經濟分析工具。
由實證結果發現，傳統的有線電視之相關市場範圍應擴大， IPTV 及網路劇
將成為具有競爭力的產品，市場結構將徹底被改變。因著數位匯流下市場態樣的
多樣化，新興產品、服務與新興市場不斷出現，市場界定雖無法精確的界定相關
市場範圍，但卻可提供政府機關審理數位匯流之結合案一有效量化的工具，配合
經濟理論的質性分析，進一步使數位匯流下結合案的政策分析完整性增加。

Under digital convergence, the market structure has changed which cause the
traditional market definition is no longer applicable. Many industries and firms have
take action of cross-industry M&A and integration. In contrast, regulations and “new”
market definition has not appeared which cause antitrust authorities deal with the case
of the M&A under digital convergence has no quantitative tools. Our study has found
that the market structure under digital convergence almost is two-sided market and
multi-sided market, so we use the modified Critical Loss Analysis which Evans and
Noel (2008) proposed to be the market definition tool under digital convergence.
Subsequently, we use the merger case of TFN media and Kbro to do empirical analysis.
By the empirical results, we find out that the relevant market of cable TV has to
expand. The IPTV and online play will be the competitive product that the market
structure of cable TV will be changed radically. Under digital convergence, market
definition may not precisely than traditional, but it still could provide antitrust
authorities an effective quantitative evidence, and with the economic theory of
qualitative analysis which could make policy analysis more integrity.

目錄
中文摘要........................................................................................................................... i
英文摘要.......................................................................................................................... ii
第一章 緒論................................................................................................................... 1
第一節 研究動機與目的....................................................................................... 2
一、研究動機................................................................................................. 2
二、研究目的................................................................................................. 3
第二節 研究方法................................................................................................... 3
第三節 論文架構................................................................................................... 4
第二章 數位匯流之現況與發展................................................................................... 6
第一節 數位匯流所帶來的衝擊與影響............................................................... 6
一、對產業結構的影響................................................................................. 7
二、對管制政策的影響................................................................................. 9
第二節 數位匯流下之跨業經營限制................................................................. 11
一、電信產業與有線電視產業間之跨業經營........................................... 11
二、數位匯流下，金融產業之跨業經營限制........................................... 13
三、小結....................................................................................................... 14
第三節 數位匯流下之結合案............................................................................. 14
一、電信產業............................................................................................... 14
二、資訊網路產業....................................................................................... 17
三、有線電視傳播媒體產業....................................................................... 20
四、小結....................................................................................................... 22
第三章 數位匯流與市場界定之文獻探討................................................................. 23
第一節 數位匯流對市場界定帶來的影響......................................................... 23
一、市場界定是否必要之相關文獻........................................................... 24
第二節 數位匯流下市場界定之相關文獻......................................................... 25
一、雙邊市場及多邊市場特性之相關文獻............................................... 25
二、數位匯流下之市場界定相關文獻....................................................... 33
第四章 數位匯流下市場界定之理論模型................................................................. 36
第一節 市場界定法之演變................................................................................. 36
一、假定壟斷者測試法 ( Small significant non-transitory increase in price,
SSNIP test ) ................................................................................................... 37
二、臨界損失法 ( Critical Loss Analysis, CLA ) ....................................... 38
第二節 雙邊平台與多邊平台下之市場界定法................................................. 39
一、數位匯流下雙邊市場之對稱平台的臨界損失分析法....................... 40
二、數位匯流下雙邊市場之不對稱平台的臨界損失分析法................... 43
三、數位匯流下不對稱之多邊平台的臨界損失分析法........................... 47
iv
第五章 實證結果與分析............................................................................................. 49
第一節 研究對象、期間與資料說明................................................................. 49
一、研究對象背景介紹............................................................................... 50
二、研究期間與資料說明........................................................................... 52
第二節 實證模型的建立..................................................................................... 55
第三節 實證結果與分析..................................................................................... 58
一、估計結果之意涵................................................................................... 59
二、臨界損失與實際損失之比較............................................................... 61
三、整體經濟競爭效益評估....................................................................... 63
四、管理建議與政策建議........................................................................... 68
五、小結....................................................................................................... 71
第六章 結論與建議..................................................................................................... 73
第一節、結論............................................................................................... 73
第二節、研究貢獻....................................................................................... 74
第三節、建議............................................................................................... 74
參考文獻....................................................................................................................... 75

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