觀光業為我國的重點產業之一。2008年金融風暴對觀光廠商產生非例行性之衝擊，觀光廠商在金融風暴後之成長，反映其應付非例行性環境衝擊的能力。高層理論指出高階管理團隊特性，會影響策略的擬定與企業的績效表現。本論文基於高層理論，採用模糊集合質化比較分析法，探索哪些高階管理團隊特性之組合構形為影響企業在金融風暴後成長的充分條件。

本研究以經歷2008年金融風暴的上市/上櫃/興櫃觀光廠商為研究對象。本研究主要以兩階段進行，第一階段使用Eisenhardt (1989) 個案研究法，探索可能影響觀光廠商金融風暴後之成長的重要高階管理團隊特性；第二階段使用Ragin (2009) 模糊集合比較分析法，根據第一階段可能影響觀光廠商金融風暴後之重要高階管理團隊特性，探索哪些高階管團隊組合為影響金融風暴後績效成長的充分條件。

研究結果顯示，四種影響觀光廠商金融風暴後之績效成長之組合構形。本研究將四種構形命名為：1.「成熟積極型小公司_心理素質調和、管理認知同質之高階管理團隊」、2.「成熟資本雄厚積極型公司_心理素質調和、管理認知同質之高階管理團隊」、3.「年輕多金積極型公司_心理素質調和、管理認知異質之高階管裡團隊」與4.「年輕多金保守型公司_心理素質穩定、管理認知異質之高階管理團隊」。本論文不僅補足過往大多檢驗高階管理團隊單一特性的文獻缺口外，也提出實務與後續研究相關建議。期望觀光廠商提升應付非例行性環境衝擊之能力。

Tourism industry is one of the key industries in Taiwan. The enterprises in the tourism industry have suffered from the 2008 global financial crisis, and the growth of these enterprises after the global financial crisis reflects their abilities to deal with non-routine environmental shocks. Upper echelons theory suggests that top management team (TMT) characteristics influence strategy formulation and firm performance outcomes. Based on upper echelons theory, this study adopts the fuzzy set qualitative comparative analysis approach to explore what configurations of TMT characteristics sufficiently explain post financial crisis growth for tourism enterprises.

This case firms of this study are Taiwanese tourism enterprises that are listed in TSE, OTC and the emerging stock markets. This study was carried out in two stages. In the first stage, the qualitative case study method proposed by Eisenhardt (1989) was adopted to explore critical TMT characteristics that might potentially influence post financial crisis growth. In the second stage, Ragin’s (2009) fuzzy set qualitative comparative analysis was adopted to explore equifinal configurations of the critical TMT characteristics identified in the first stage that sufficiently explain post financial crisis growth.

This study indicates four sufficient configurations. These configurations were named as: 1. Mature, small, and proactive enterprises, under the leadership of a psychologically harmonious and cognitively homogeneous TMT, 2. Mature, big, and proactive enterprises, under the leadership of a psychologically harmonious and cognitively homogeneous TMT, 3. Young, rich, and proactive enterprises, under the leadership of a psychologically harmonious and cognitively heterogeneous TMT, and 4. Young, rich, and conservative enterprises, under the leadership of a psychologically stable and cognitively heterogeneous TMT. This study complements previous upper-echelons research that investigates distinctive effects of idiosyncratic TMT characteristics. This study also provides suggestions for practitioners and future researchers in hope of helping tourism enterprises enhance their capabilities to deal with non-routine environmental shocks.

第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 10
第三節 研究流程 13
第二章 文獻探討 15
第一節 金融風暴與金融風暴後之績效成長 15
第二節 高層理論 20
第三節 高階管理團隊組成與金融風暴後成長率之關聯性 22
第四節 研究架構 28
第三章 研究方法 31
第一節 研究設計與研究對象 31
第二節 資料來源與資料蒐集 53
第三節 變數定義與衡量 55
第四節 資料分析方法 61
第四章 研究結果 63
第一節 個案研究發現 63
第二節 fsQCA 分析結果 68
第五章 研究結論與討論 75
第一節 研究結論 75
第二節 研究貢獻 79
第三節 研究限制與建議 81
參考文獻 83
附錄 93

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