A Study of the Motivation and Models for Taiwan-Based Enterprises Going IPO in Taiwan Capital Market

• Main Authors: Yi-ching Yeh, 葉一青
• Other Authors: Tchen Tchiang
• Format: Others
• Language: zh-TW
• Published: 2006
• Online Access: http://ndltd.ncl.edu.tw/handle/23568722357299661158

碩士 === 東吳大學 === 國際貿易學系 === 94 === Although Taiwan is an island surrounded by sea, we have been searching for opportunities overseas constantly. Through the trading and investment between Taiwanese businessmen and foreign countries, Taiwan has become the 16th largest trading country in the world, also the 21st largest globally and the 3rd largest country in Asia investing foreign countries. The outstanding performance of global Taiwan-based enterprises has not only upgrade the economical development of Taiwan, but also raise the growth of economic and employment in Mainland China and South-East Asia. The first discussion in this article would be the current status of foreign direct investment by Taiwan-based enterprises and the motivation behind it, hence to understand the strategies of global positioning of Taiwan-based enterprises . In recent years, some of most achieved Taiwan-based enterprises overseas have considered to enter the capital market for the next step development. Their motivation and the market of going public would be summed up in this article, and the authority would amend appropriate regulations accordingly for upcoming projects of initial public offering ( IPO ) in Taiwan, regarding the demands of global operation strategies for Taiwan-based enterprises . The second discussion in this article is to analyze the pros and cons of going IPO in Taiwan, Hong Kong and Mainland China, base on its individual history of issue factors and trading factors. Thus, Taiwan-based enterprise could accordingly evaluate the possibilities of satisfying their demands and expectations. In addition, four current operational models of IPO in Taiwan and an international board of Taiwan stock will be described and the content and existing obstacles will be discussed, in order to evaluate attractiveness of the willingness of Taiwan-based enterprises launching IPO in Taiwan. This research paper picked and interviewed three Taiwan-based enterprises who were planning to go public in Taiwan, Hong Kong and China. The focus would be their motivation, strategies and decision- making guidelines. At last a conclusion will be provided base on previous studies, also suggestions would be made for enterprises, government and following researchers accordingly.