A Study of Equity Distribution decision for Entrepreneurs

• Main Authors: Shou-Jou Cheng, 鄭守柔
• Other Authors: 陸洛
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/y267xk

碩士 === 國立臺灣大學 === 商學研究所 === 105 === In order to kick-start the next economic growth, both the government and the media have been trying to nurture the startup atmosphere and cultivate the startup environment. However, the difficulties of running an entrepreneurial team have largely been overlooked. Entrepreneurs, especially in the form of Limited Liability Company (Ltd), have to deal with various issues inherent in equity distribution which have been seldom discussed in either academic or practical research. Therefore, the purpose of this dissertation was to explore the decision process of equity distribution for entrepreneurs, and unravel the various considerations and their potential effects. Through qualitative analysis of interviews with owners from four independent Ltd Companies with various company survival years, the dissertation provided three major findings. First, the primary factors of constructing equity network were the critical challenges faced by entrepreneurs as well as the ideal for network held by entrepreneurs. Second, there were two characteristics in equity distribution: rigidity and reconcilement. The distinction between these two characteristics was critical events rather than survival years. Third, the entrepreneurs had to coordinate monetary returns, power and affection within the equity network, which might lead to the exit of team members if fail. To sum, this study extended current knowledge of equity distribution decision process using the network theory. The results may contribute to the better management of internal team integration for entrepreneurs through the formulation of more effective equity distribution strategies.