| 摘要: | 論文摘要 本研究將針對目前台資企業使用之籌資管道：發行海外可轉換公司債、海外存託憑證、海外上市（例如：新加坡證券市場及香港證券市場）等籌資工具加以介紹，並以個案研究方式進行分析於香港市場IPO籌資管道之利弊得失，是否有成功的企業可以借鏡?以提供台資企業參考。將不探討大家熟悉的間接金融之籌資管道，例如台灣銀行業的國際金融業務分行（Offshore Banking Unit；OBU）、大陸中資銀行、大陸外資銀行等籌資、大陸境內證券市場。 研究中發現，台資企業在長期固定資產資金需求或長期業務發展所需的資金部份，由於可藉由境外上市方式達到取得長期資金，並可藉以改善財務結構，發放員工分紅配股用以吸引人才。特別是香港證券市場，對於大陸台資企業而言，除了可達到資金來源國際化外，對打開國際知名度也有相當助益，是一個可以滿足財務及公關等籌資動機的全球性資金調度中心。 Abstract This research is to introduce some financing ways in present Taiwan-capital corporations, such as issuing overseas changeable debenture, issuing overseas trust document, coming into the overseas market (e.g., Singapore stock market and Hong Kong stock market), and so on. And the research is to analyze the advantages and disadvantages of Hong Kong IPO financing ways by case study, so as to find out whether there is any successful corporation, which Taiwan-capital corporations can learn from. This research will not discuss indirect financing ways familiar to all, such as the International finance service of Taiwan banking business (Offshore Banking Unit; OBU), mainland China-capital Bank, mainland Foreign-capital Bank, and mainland stock market. From the research, it is found that Taiwan-capital corporations collect capital for long term assets and capital for long term development by coming into the national-boundary market, by which they can also improve financial structure and provide staffs with profit shares and rationed shares, in order to attract talented persons. In particular, for mainland Taiwan-capital corporations, Hong Kong Stock market not only can realize internationalization of collecting capital, but also is very beneficial to gain international reputation. And it is a global capital managing center, which can satisfy financing for financial affairs and public relationship. |
