台商赴越南直接投資進入模式之研究

由於全球化的影響，許多企業為了永續經營及提升競爭力，進而紛紛擴大市場規模，並積極從事海外直接投資。除了中國大陸之外，越南已是目前台商進行海外投資的首選。本研究以56家台灣上市櫃公司赴越南投資之企業為樣本，研究期間為2003年至2010年，利用二元羅吉斯迴歸模型分析台商進入越南模式之決策之主要影響為何。研究結果顯示公司研發能力、可支配現金流量以及母公司績效是影響台商赴越南投資進入模式的重要因素，研發能力愈強，可支配現金流量愈佳以及母公司績效愈好的企業愈傾向以獨資方式進入越南；而台商企業的規模則對進入越南投資模式無明顯關聯。

關鍵字

海外直接投資；進入模式；二元羅吉斯迴歸模型

並列摘要

Due to the impact of globalization, many companies engaged in foreign direct investment to sustain the operation and to improve competitiveness. Besides China, Vietnam is now the preferred foreign investment area for Taiwan manufactures. We investigated 56 listed companies which invested in Vietnam in year 2003 to 2010 and used the binary logistic regression model to test the decision factors on the entry mode between wholly owned and joint venture. The results showed that the companies those who had highly R&D expense, more disposable cash or good performance were more likely to wholly owned the Vietnam subsidies no matter what size of the scale they were. Furthermore, there’s no significant relation between the entry mode and Vietnam subsidies’ performance.