富士康控股利用香港上市之原因與效益

機構典藏 > College of International Affairs > Graduate Institute of China Studies > Thesis > Item 987654321/30320

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Title:	富士康控股利用香港上市之原因與效益
Other Titles:	The reason and outcome of Foxconn go public in Hong Kong
Authors:	王閔璿;Wang, Min-hsuan
Contributors:	淡江大學中國大陸研究所碩士班郭建中;Guo, Jiann-jong
Keywords:	證券市場;香港上市;富士康;Stock Market;go public in Hong Kong;Foxconn
Date:	2007
Issue Date:	2010-01-10 23:33:44 (UTC+8)
Abstract:	被稱為世界工廠的大陸提供了低廉的勞工以及廣大的內需市場，故大陸在台商發展全球佈局上扮演重要角色。隨著台商赴大陸投資日益增多，台灣與中國大陸的貿易往來關係日益密切，高達7成的貿易依存度更顯示出兩岸經貿活動日益頻繁。然而兩岸存在著許多的政治上的限制，使的台商在全球佈局上遭遇困難，其中包含了擴展全球版圖所需的資金來源。企業募集資金可透過直接金融以及間接金融來募集，其中又以直接金融中的企業上市為最有效的管道。因此，越來越多的大陸台商因為資金的需求，選擇到海外上市來募集資金，其中又以到香港證券市場上市的成長幅度及上市家數最多。因此本研究以鴻海精密股份有限公司在香港上市的子公司富士康國際控股有限公司為研究對象，歸納大陸台商在香港及台灣上市相關法規限制，以分析比較台灣和香港兩地證券市場的差異，並利用企業海外上市之原因及海外上市的優點來探討企業選擇到香港上市的真正原因以及優點。研究中發現，就企業角度而言，香港證券市場的整體法規及表現較優於台灣證券市場。而富士康國際控股有限公司選擇到海外上市最主要的原因是可以降低兩岸政治上所造成的市場隔，至於到香港上市後對富士康國際控股有限公司在財務報表上的表現並無顯著效果，最主要的效益還是可以規避台灣政府的限制，使資金可以在全球自由流動。 The so-called “World Factory”- China, provides with the cheap labors and the large domestic markets; in so, it plays a pivotal role for Taiwan-based enterprises developing and establishing its world stances. In terms of the cross-strait political limitation and the high trade dependency, the former has brought lots of difficulties and the later of chances to Taiwan. When the enterprises raising funds directly and indirectly from the financial units, the direct finance will be the most effective way counting for the enterprises. Therefore, lots of Taiwanese enterprises will choose go public in the overseas’ stock market in order to raise funds. Yet, the Hong Kong stock market is the most favorable place for Taiwanese enterprises’ choosing the fund raising market. In so, the research focuses on analyzing the differences of the stock market between Taiwan and Hong Kong; further, to clarify the actual reason and advantage for their choices of different stock markets. Thus, the findings conclude that the entire regulation of the HK stock market is better than Taiwanese one. Also, there is no obvious effect and financial outcome when Taiwan-based enterprises choose to go public in Hong Kong. Yet, their most concerned issue is the high flexibility of fund raising through the world.
Appears in Collections:	[Graduate Institute of China Studies] Thesis

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