本研究使用資金成本(cost of capital)、信用供給(credit supply)和資源基礎理論（resource-based view）來探討政府政策與公司投資決策的關係。在資金成本(cost of capital）理論的解釋下，政府政策實施後，企業外部融資成本的下降使企業無謂的損失減少，增加企業投資的動機。同時本研究使用信用供給(credit supply)理論來解釋當政府政策增加金融市場的信用供給後，企業外部融資限制的降低促使其進行投資。結果顯示在資源基礎理論（resource-based view）之下，國家政策對公司投資決策產生顯著的影響，並不是透過改變公司的外部融資條件實現。 / Our research used the cost of capital credit supply and resource-based view to explain the changing in investment decisions after implement policy. The government policy effect will increase the willingness of investment. Meanwhile, we used the credit supply theory to explain the changing of external financing constraints in companies increases investment. Our results showed that based on the resource-based view, government policy significantly affects the investment decisions without having impact on external financing.