無晶圓廠或IC 設計公司是半導體業中的子產業，其主要專注於產品設 計和開發，並通常將生產工作外包給晶圓代工公司。為了在激烈的技術競 爭的環境中生存， IC 設計公司必須持續投資於研究與發展（ R&D ）。本研 究旨在探討不罔聞的IC 設計公司在三大客源市場，台灣、中國和美圈中的 研究與發展策略。首先，本研究找出研究與發展經費的支出與其在每個市 場中成功的專利申請量之間的時間滯後關係。其次，我們分析內部因素， 如公司規模，盈利能力和管理行為﹔和外部因素，如經濟上國際景氣的好 壞對研究與發展經費支出的影響。這項研究有兩個主要的貢獻，首先是本 研究利用研究與發展的強度和效率等新穎指標來分析在全球化的背景下IC 設計公司如何決定研究與發展經費的支出﹔第二，它是第一個跨國性研究， 並以風險的角度來分析IC 設計公司在不同國家中的研究與發展經費支出行 為。本研究結果顯示研究與發展的費用投入到專利的被成功接受具有長達2 年的時間滯後。另外本研究也顯示出，在經濟衰退和復甦期間台灣和中國 的IC 設計公司比美國IC 設計公司更願意多花一些研究與發展費用。台灣 和中國的IC 設計公司與美國相比，有比較少的生產投入要素、比較小的需 求市場及比較少的相關行業支持，這也許能解釋他們為什麼必須採取比美 國更積極的研究與發展經費支出策略，以期讓他們能在競爭激烈的全球市 場中生存。

Fabless or IC design companies are a group of enterprises within the semiconductor fabrication indust吼focusing on product design and developme帥， and usually outsourcing production to manufacturers. To survive in an environment of fierce technological competition, fabless firms must invest in research and development (R&D). The present study investigates how this is achieved in the three major source markets for this type of product; Taiwan, China and the United States. First, the investigation identifies the time lags between R&D expenditure and the quantity of successful patent applications in each market. Second, we analyze the impact of internal factors like company size, profitability and management behavior, and external factors such as the health of the economy on R&D expendi加re. The study makes two important contributions to the literature; first is the use of novel indices of R&D intensity and efficiency to analyze expendi如re decisions in the context of globalization, second, it is the first cross喃coun甘y study to analyze R&D in this industry from a risk-based perspective. The results demonstrate a time lag of up to 2 years between R&D expenditure and patent acceptance. They also show that firms in Taiwan and China spend more on R&D than US firms during periods of both economic recession and recove可. However, fabless firms in Taiwan and China have worse factor input and demand conditions, and less support from related industries than firms in the United States, explaining why they must adopt more aggressive strategies towards R&D investment to survive and excel in global markets.