台商赴中國大陸投資之兩岸總體、政治因素探討

A study of the Determinants of Foreign Direct Investment: An Empirical Analysis of Taiwan's Firms in China

沈志賢(Chih-Hsien Shen)

指導教授 ： 林蒼祥

淡江大學/商學院/財務金融學系碩士在職專班/碩士(2006年)

https://doi.org/10.6846/TKU.2006.00959

摘要

1949年中華人民共和國成立後，長期在共產制度思惟及公有化制度下，制約了其全球化的自由經濟發展；但1979年起中國大陸的改革開放，提供了台商國際化對外直接投資的機會。多年來台商對中國大陸的投資件數及金額不斷增加，其間受到許多經濟及非經濟因素的影響。過往許多學者分別針對兩岸台商投資的地主國、投資國或政治關係因素探討其影響因素。有別於先前的研究，本文研究目的旨在探討台商赴中國大陸直接投資的總體經濟因素及政治關係因素綜合探討。以十多年來兩岸經貿交流的情形，利用兩岸總體資料，並透過實證分析來探討出對台商赴陸投資的推力及拉力影響因素。本研究先利用台商赴大陸投資動機、金額、區位選擇等相關研究文獻，對大陸台商投資概況進行分析；並透過台商投資行為模型的建立，來探討影響台商赴中國大陸投資的主要變數為何。分析模型為OLS迴歸模型分析自我迴歸關係。得到結論是，台商赴中國大陸直接投資金額主要受到台灣內部治安、施政穩定度的推力，及中國大陸充沛便宜的勞力來源的拉力所吸引。從本文實證結論，建議政府應致力消弭內部的治安問題、兩岸關係定位及政策整合、朝野應同創民主憲政典範、提升施政穩度，此為讓在台商根留台灣的必要條件。而為佈局全球之國際化趨勢，緃然台灣無法再有便宜的充沛勞力來源，但創造兩岸產業的水平、垂直分工有利條件，整合資源將研發及市場品牌高附加價值的部份留在台灣、改善資金回流機制及資本市場，此為讓在台商根留台灣的充分條件。

關鍵字

中國大陸 ； 對外直接投資 ； 兩岸關係 ； 改革開放

並列摘要

Since the foundation of the People's Republic of China in 1949, the communistic thinking and system of socializing have restricted the development of the global economic liberty. The reform and opening-up of Mainland China in 1979, however, had created Taiwanese opportunities for Foreign Direct Investment (FDI) in China toward further internationalization. Taiwanese projects and amount of FDI in China had been increasing constantly for many years along with the influence of economy factor and non-economy factors. In the past many scholars probe into their influence factors to host country, investment country or political relation factor separately in respect of Taiwan’s investment in China. Different from previous research, this research aims at a comprehensive discussion on Macroeconomic factor and the political relation factor in respect of Taiwanese attending FDI in Mainland China. With the last ten-year situation of cross-strait trade exchanges, in use of cross-strait overall materials, and through real example analysis, this research probes into influence factors of thrust and pulling force that make Taiwanese investment in China. In order to analyze the profile of Taiwanese investment, this research utilizes relevant research document such as investment motives, investment amount, and selection of position. In addition, through a behavior model, this research examine the main variables which affect Taiwanese investment. This research is expected to examine closely and prove how the overall economic factors and cross-strait political relations influence Taiwanese investment. Most importantly, this research provedes Taiwanese companies reference for investment decision-making on the policy of staying in Taiwan or the selection of host country during nationalization. The conclusion is that, the thrust of the public security inside Taiwan as well as the stability of government administration, and the pulling force of the plentiful and cheaper labor force in China are considered to be the main factors for Taiwanese direct investment amount in Mainland China. From the empirical analysis in this research, following are the recommendations: Government shall focus on eliminating the internal problems of public security, positioning the cross-strait relations, and integrating the bicoastal policies. Furthermore, political parties shall establish democracy and improve the stability of government administration. The above-mentioned factors regard as the prerequisites conditions for Taiwanese companies to leave the root in Taiwan. Meanwhile, provided that there is no cheaper labor force in Taiwan any more, for further globalization it is necessary to create the advantages from horizontal and vertical integrations among the cross-strait industries. It is also important to integrate the resources, to keep the development and high value-added brands in Taiwan, and to improve the mechanism of funding back to Taiwan and the capital market. The factors above are considered to be the necessity conditions for “Leaving the Root in Taiwan”.

並列關鍵字

Mainland China ； Foreign Direct Investment ； FDI ； cross-strait relationship ； reform and opening-up.

參考文獻

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