影響台灣雙帳款管理商模式之出口應收帳款量的因素

The Factors affecting Taiwan’s Export Factoring Business in 2 Factor Model

田景雲(Ching-Yun Tien)

指導教授 ： 蔡偉德

國立中央大學/管理學院/產業經濟研究所碩士在職專班/碩士(2011年)

摘要

隨著信用狀使用率的逐年降低，越來越多的交易使用O/A或T/T方式，這給了應收帳款承購業務一個好的發展機會。而隨著國際貿易競爭越來越激烈，因買賣交易衍生出新的風險：賣方通常需要提供給買方信用交易與放帳期間，而放帳期間通常隨著買方的議價能力的增加而變長，但企業風險會隨著放帳天期的延長而增加，而較長的放帳時間對賣方來說，容易有資金周轉問題。應收帳款承購業務提供四種基本功能：融資、應收帳款帳務管理、收款服務、承擔風險，可協助企業解決相關的問題。
全球應收帳款承購業務處於成長的趨勢，台灣應收帳款承購業務近年發展也相當迅速。目前台灣已有18家金融機構加入FCI，預計之後會有越來越多的金融機構加入應收帳款承購業務這個領域。
本研究使用FCI資訊交換平台EDIFACTORING的統計資料、各國實質國民生產毛額資料以及台灣實質國民生產毛額資料，以最小平方法與固定效果模式做估計，探討影響台灣出口應收帳款承購業務2 Factor模式的影響因素及影響程度。研究結果顯示除了景氣對此業務有著正面的影響之外，FCI會員提供出口商的選擇性越多、服務品質越好，如進口國有較多的進口帳款管理商、台灣有較多的出口帳款管理商，帳款管理商較積極的催理帳款、進口帳款管理商對於買方額度審核標準的寬鬆以及彈性等因素，都對台灣出口應收帳款承購業務的發展有顯著的影響。

關鍵字

2 Factor ； 最小平方法 ； 固定效果 ； 應收帳款承購 ； FCI

並列摘要

As the letter of credit usage reduces year by year, more and more transactions using O/A or T/T methods, this offers factoring business a good development opportunity. As international trade is competing fiercely, it brings new risk to the seller because of the terms of the transaction: the seller usually needs to provide the buyer transaction terms with credit and long payment term, and the payment term is longer as the buyer is better. The risk of the seller will be increasing as the payment term is long, the seller will face the problem of capital turnover. Factoring business provides four main functions: working capital financing, credit risk protection, accounts receivable bookkeeping and collection service. Factoring business can help the seller solve these kinds of problems.
The trend of factoring business in the world is towards growing, and this business has developed rapidly in Taiwan in recent years. There are 18 financial institutions joining FCI in Taiwan, and we expect there will be more institutions joining the area of factoring business.
This research uses the statistics of EDIFACTORING and the real GDP data of import countries and Taiwan to investigate the factors and degrees of affecting Taiwan’s export factoring business in 2 factor model by applying OLS and fixed effect model. The results display that in addition to the boom, the more the choice and the better quality of the service that the FCI members provide will be positive effects on Taiwan’s export factoring business.

並列關鍵字

Factoring ； FCI ； 2 Factor ； OLS ； Fixed Effect

參考文獻

1. 尤雪萍（2005），我國金融機構應收帳款承購業務發展之研究，臺灣大學會計學研究所碩士論文。

5. FCI Communication Manual（2010）

8. FCI Seller Selection & Control Manual（2010）

9. Klapper, Leora. (2005), “The Role of Factoring for Financing Small and Medium Enterprises”, World Bank Policy Research Working Paper, No. 3593.

10. Schwizer, Paola, and Gianluca Mattarocci. (2006), “Managing factoring inbanking groups”, Credifact Discussion Paper No. 1/2006.