大陸台商融資管道與操作模式分析-以個案企業為例

吳清南(Ching-Nan Wu)

指導教授 ： 邱慈觀

國立中央大學/管理學院/財務金融學系碩士在職專班/碩士(2006年)

摘要

論 文 摘 要

本研究探討目前大陸台資企業使用的籌資管道，包括台灣銀行業之國際金融業務分行(OBU)、大陸中資銀行、大陸外資銀行、大陸境內證券市場以及赴香港證券市場籌資，並以個案研究方式進行分析各項籌資管道之利弊，符合現行台商最主要及切身需求。

研究發現，台資企業短期營運資金需求透過台灣銀行業之國際金融業務分行(OBU)較易取得資金融通；利用台灣開立之擔保信用狀做擔保，向中資銀行或外資銀行在大陸分行融資，為目前籌資管道趨勢；而中共當局所推出300億元人民幣開發性貸款專案，顯示大陸台商融資就地化趨勢；在長期固定資產資金需求或長期業務發展所需資金，可藉由資本市場取得，特別是香港證券市場，對大陸台資企業言，在香港上市，除可達資金來源國際化外，對打開企業國際知名度亦有相當助益，在港上市為台資企業及陸資企業籌資最熱門區域。

關鍵字

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並列摘要

Abstract

This study analyzes fund leverage channels utilized by Taiwan-based enterprises in their investment in Mainland China, including OBU of financial institutions in Taiwan, Chinese-capital-funded banks in China, foreign-capital-funded banks in China, the stock market of China and the stock market of Hong Kong. We use studies to explore the strength and weakness of each fund leverage channel and examine how each meets the primary requirements of Taiwan-based enterprises.

Findings indicate it is easier for Taiwan-based enterprises to obtain short-term operational capitals via OBU of financial institutions in Taiwan.It has become a trend to seek finances from Chinese-capital-funded banks in China or Mainland branches of foreign-capital-funded banks with L/C’s issued by financial institutions in Taiwan as collateral. The 30 billion RMB development loan project the Chinese government introduced indicates Taiwan-based enterprises are localizing their finances in the Mainland. Funds required for long-term fixed asset or long-range operational development can be acquired from the capital market, especially the Hong Kong stock exchange. To Taiwan-based enterprises in China, going public in Hong Kong can internationalize capital resources and enhance their global reputation. And it is now an in-thing among both Taiwan-based and Mainland-based enterprises to become a public company in Hong Kong for fund leverage.

並列關鍵字

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參考文獻

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