本文主要目的擬以台灣某上市司所發行海外可轉換交換債為例，探討海外可轉換交換債作為我國上市公司財務工具的可行性、作業、管理及其成本效益。海外可轉換交換債，是現代財務衍生的一項籌資工具，在台灣尚不算極普及的財務工具應用。國際企業身處在一個整合和變動的世界經濟活動中，如何利用台灣上市公司的企業利基，運用海外可轉換交換債取得國際資金和資金成本效益。本研究選擇以探討海外可轉換交換債作為我國上市公司財務工具的可行性，並且深入了解其必需具備的各項企業條件及選擇可轉換標的決策考量，探討發行海外可轉換交換債的各項法規限制及發行海外可轉換交換債的國際金融環境，以研究發行海外可轉換交換債的應用及其成本效益，了解組織財務管理及發行海外可轉換交換債的各項作業與決策管理，並透過海外可轉換交換債與其它財務工具的成本效益比較海外可轉換交換債此項財務工具的實質效益。 / The main purpose of this thesis is to discuss the possibilities, operation, management and cost-effectiveness of European Exchangeable Bonds by using a Taiwanese listed company as an example. European Exchangeable Bonds is a modern financing tool that it’s still not a popular application in Taiwan. However, international corporations are in integrated and dynamic world economic activities. We’d like to discuss how to use the advantages of the Taiwanese listed company to make use of European Exchangeable Bonds to get international funds and make profit on cost of capital. The research would choose a company as instance to discuss in deep about the feasibility of European Exchangeable Bonds and the considerations of issuing European Exchangeable Bonds. We will research the restrictions of issuing process and the international financing environment and to discover the application and operation cost effectiveness of European Exchangeable Bonds, and then compare practical benefits between European Exchangeable Bonds and other financing tools.