The purpose of this paper is to study financial structured products, and the marketing aspects in Taiwan market. In this paper, evidence from S Bank, I will study its market strategies and the performances in the field of structured product. A Structured Product also known as an Investment Deposit is linked with various underlying investment options to provide enhanced return potential. Under the structured products, there are a few alternatives available to the investors, Principal Guaranteed Structured Product and Yield Enhanced Structured Product. A Principal Guaranteed Structured Product enables investors to enjoy 100% principal protection if held to maturity with investment tenor to earn higher potential returns than conventional time deposits in accordance with the performance of linked assets.A Yield Enhanced Structured Product can offer the potential for a higher interest rate than available with other fixed term deposits. In compensation for the higher risks, due to being exposed to market risks, the returns are higher than the returns on normal deposits. The deposit will receive a higher rate of interest irrespective of what happens to the price movement of linked assets.

The present paper is based on a real life case, although some details have been hidden or modified to ensure proper confidentiality. The motivation behind this thesis is to exemplify financial management best practices and how these best practices are actually implemented and used in the real world. First a qualitative overview is given to put the company into context, then a thorough financial analysis is undertaken to discover the underlying financial problems the company is facing. Based on the analysis, recommendations are made to address the specific problems. Some of the main topics addressed are working capital management, capital budgeting best practices, capital raising and hedging (foreign exchange and interest rates). Keywords: Working capital, Capital budgeting, Foreign exchange hedging, Interest rate hedging.

經濟發展乃是現代國家所追求的目標。而一國經濟之發展端賴該國企業投資經營是否 蓬勃發展。因此投資對企業對經濟發展而言，猶如人體中最實貴的血液，時時需有新 的血液加入，以便新陳代謝、造就成健壯的身體。但自石油危機以來，世界各國普遍 發生通貨膨脹，同時伴隨著經濟不景氣。而此種所謂「停滯性通貨膨脹」更促使企業 投資決策趨向於複雜與不確定性。 本文的目的乃是針對通貨膨脹，探討其對於投資方案決策的影響。並提出修正的資本 預算評估模式，以幫助企業評估其投資方案。 論文共分七章，其章節列示如左： 第一章 論文提要 第一節 研究動機與目的 第二節 研究範圍方法限制 第二章 通貨膨脹對資本預算之影響 第一節 五大命題之討論 第二節 結語 第三章 通貨膨脹下修正之資本預算模式 第一節 傳統模式的缺失 第二節 修正的模式 第三節 租賃、外購、自製、棄卻值之修正模式 第四節 多重投資之問題 第四章 投資組合、通貨膨脹與資本預算 第一節 投資組合理論 第二節 資本資產訂價模式與資金成本 第三節 考慮通貨膨脹之資金成本 第五章 通貨膨脹率選擇問題 第一節 名義利率、實質利率 第二節 通貨膨脹率之估計與運用 第三節 物價指數之選擇 第六章 實務上運用之探討 第一節 資本預算在美國之調查報告 第二節 我國實務運用之探討 第七章 結論