Globalization and Production: The Case of Special Chemistry Industry in Taiwan

• Main Authors: Shu-Fan Chiang, 江書凡
• Other Authors: 賈昭南
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/73746952272968207128

碩士 === 淡江大學 === 國際企業學系碩士在職專班 === 101 === This thesis explores the effects of globalization on the production level of 15 special chemistry firms in Taiwan during the period between 1992 and 2000. Using firm level equities, long term liabilities, short term liabilities and other liabilities as control variables, we estimate the effects of four types of capital inflows representing the changes in external environments toward globalization on the production level. Empirical estimations have shown that the special chemistry industry can be categorized as a capital intensive industry relying heavily on long term accommodations and not so much on short term accommodations. Developments in the external environment that is in favor of long run investment does not affect on the production of this industry while external change in environment that is in favor of short run investment plays moderate effects on the production. Furthermore, the adverse effects of capital outflows and the favorable effects of capital inflows are symmetric.