台商大陸投資營運與籌資決策之研究

• Main Authors: Ching-Chung Huang, 黃景重
• Other Authors: Jun Lin
• Format: Others
• Language: zh-TW
• Published: 2004
• Online Access: http://ndltd.ncl.edu.tw/handle/09967036452841431545

碩士 === 國立臺灣大學 === 財務金融組 === 92 === Since 1987, the government opened up travel for the Taiwanese people to visit relatives in Mainland China. The new policy also created new business opportunities for the Taiwan business people. Benefited with same culture and same dialects, many business people invested in China. At the same time, Taiwan lost its low cost advantages. The competition became fiercer as lands became harder to acquire and costs increased. As a result, the Taiwan business people entered China to exploit better business environment。 As China reformed, it also provided many business opportunities. However, the main issue is whether the Taiwan companies can capitalize on this opportunity. The company''s ability to capitalize on this opportunity is dependant on its innovation, aggressiveness, risk management and legal adaptability. If an organization comes in with the mentality with the goal to make short-term profit, then it will never develop the long-term profit making mentality。 Rarely do the Taiwan investors in China perform investment and fund raising analysis. It is very risky to invest blindly because personal relationships supercede normal business ethics. Most of the investigated topics involve the China central authority. The Taiwan business people shall not easily believe in the sayings of the regional officials because it will only induce more operation risk when there are personnel changes. Instead, following every regulation is the better choice。 This study analyzes different facets in investing and fund raising in China from Taiwan business people perspectives. For the fund facet, the capital and the source of cash flow worth investigation. The Taiwan business people did not register their cash early, thus resulting in the recent increase in cash registration. It has been a trend that the Taiwan business people financed with China banks. However, the China government tried to cool down the overheating economy with various measures. The Taiwan economy people shall be aware of this. For the policy facet: China''s related policy has tremendous on Taiwan business people''s investments. The article focuses on the industry policies, benefits, taxing issues, custom monitoring and foreign currency control. For the financial risk management, it discusses the financial risks involve in import and export risks and resolving strategies. The article hopes to provide Taiwan business people with the knowledge to prevent risks prior to investing by looking into foreign currencies monitoring risks and taxation risks. For the financial facet, the study illustrates how to develop financial relationships with China banks and foreign banks and how to arrange for financing in Taiwan, Hong Kong and China. It provides analysis and planning on long-term internationalization and financial market, thus eases the operational cash flow of Taiwan business people 。 The ultimate goal of Taiwan business people is to raise capital either domestically or from overseas. The Taiwan business people in China hope the capital will become independent from Taiwan. The research focuses on the selection of the financial market on China, Hong Kong or Taiwan. At the current political situation, the Taiwan government shall prioritize on how to attract those business people back to participate in economic activity and result in win-win situation. By relaxing the constraint of net assets at 40% or canceling the issuance of ECB could eliminate after companies went IPO in Taiwan could attract business people back to Taiwan. The government shall look at this issue carefully。