隨著經濟全球化、分工化的趨勢下，我國企業為提升競爭力並獲取更高的利潤，逐漸將企業轉移至大陸。根據投審會的統計，台灣企業單一年度在大陸的核准投資金額已從初期1991年的1.74億美元，成長至2002年的67.23億美元，去年2010年更達到146.17億美元，中國大陸已取代美國成為台灣最大的對外投資地區。然而兩岸之間敏感的政治因素，政府對於投資大陸之上限、技術及資本市場一直存在相當之限制，使得台商為了規避相關法規之限制，掙脫「台資」身份投資中國大陸的枷鎖，紛紛以各種合法及不合法的管道突圍。 有鑑於違規投資大陸事件層出不窮，我國遂於2008年放寬投資大陸之相關規定，其中影響最鉅的為投資上限淨值，將其從40%改為60%。雖然限制條件放寬了，但是投資大陸上限仍舊存在，對於投資大陸需求較高的企業，為提高投資大陸的金額，可能會透過各種管道，其中包括盈餘管理之可能。 本研究即在探討我國相關法令中，對於企業投資中國大陸的限制存在那些限制，而企業為了規避這些限制可能採取那些手法，並以計算投資上限的淨值作為主要的研究標的，探討公司是否會進行淨值管理。本研究實證結果顯示，投資大陸比例接近其限額之企業，相較於投資大陸比例很低的企業，確實較有可能透過盈餘管理，以達到提高投資中國大陸限額的目的。 / With the tendency of global economic development and collaboration, it is necessary for our enterprises to transfer their operating center to China in order to promote competition and get more profit. According to the statistics by Investment Commission, the approve amount to invest in China from Taiwanese entrepreneurs in a year has increased from 0.174 billion in 1991 to 6.723 billion in 2002. In 2010, the amount is up to 14.617 billion. Mainland China has substituted for the US to become Taiwan’s major investment area. But the sensitive political issues between two sides of Taiwan Strait make Taiwan government establish many constraints, including the upper limit for investment in China, the technology and the capital market. To avoid the regulations of constraints and the “Taiwanese identity”, Taiwanese entrepreneurs use many legal and illegal ways to invest in China. Because illegal events about investment in China emerged one after another incessantly, our government relaxed a part of the regulations in 2008. The most influence in the regulations of constraints is the upper limit for investment; it changed from 40% to 60%. Although the constraints have relaxed, the upper limit for investment still exists. For those enterprises with higher investment demand, there is still a possibility for them to use ways to enhance the investment amount, including earnings management. The purpose of this research is to clarify the regulatory policy of Taiwan government toward investment in China, and the ways enterprises use to avoid the constraints. Besides, the main object of research is net worth which is calculated for the upper limit for investment. The empirical results demonstrate that enterprises whose investments are close to the upper limit are more likely to use earnings management to enhance the investment amount than enterprises whose investments are far away from the upper limit.

隨著兩岸金融政策的開放，國內銀行將會面臨新的局勢。中國大陸經濟崛起是台灣銀行業者的發展契機，同時因為兩岸在經濟與金融發展脈絡上的不同，亦會造成雙邊交流的阻礙，在機會與困境的新局中，國內銀行要如何找出因應之道將會格外重要。 本文透過文獻回顧、SWOT與個案分析的方式描繪出，未來可能出現的交流新貌。首先在文獻回顧上，台灣目前面臨銀行家數過多的問題，雖然歷經多次改革但是成效仍舊相對有限，未來銀行在中國大陸拓展事業版圖後，有機會改善國內的金融環境。 其次在SWOT分析中，台灣銀行產業發展得較早，所以培養出不少優秀的人才，而且銀行也擁有成熟的金融技術，此為國內銀行交流的優勢，不過國內銀行面對大陸銀行的競爭，規模與營業據點不足卻是發展上的劣勢。 最後在個案分析中，外資金融機構赴大陸發展，其業務經營方向越來越偏向當地市場，不僅各國逐漸轉型為獨資外資銀行，而且也開始經營本地業務，未來國內銀行也應該把目光從台商轉到大陸市場。 兩岸金融談判持續進行，期盼雙方可以透過了解降低雙邊交流可能造成的摩擦，更希望兩岸在互信互利的基礎下，共同創造出繁榮的大中華經濟圈。 / Open cross-strait financial policy has led to domestic banks are facing a new situation. China market is an opportunity for banks in Taiwan,but different financial environment will result in communication barriers. In this situation, how to find the solution is an important issue. We have gone through ‘Literature Review’,’ SWOT analysis’,’ Case Studies’ and reached conclusion. In the literature review, Taiwan faces overbanking problems in recent years. Although domestic reform several times but the effect is relatively limited. Banks enter the Chinese mainland market, overbanking will be improved. In the SWOT analysis. talent and technology is the development advantages.Industry of bank started early, so the country has many excellent financial professionals. Taiwan has also been leading in the financial technology. It’s the bank's strength. However, domestic banks face competition from mainland banks, lack of scale and business units are the disadvantages of the development. In the case studies, foreign financial institutions enter the Chinese market, more and more close to the local business direction. Foreign Capital Bank not only transformed into wholly foreign funded commercial bank, but also operating a local business. Domestic banks should also target customers from Taiwan enterprises into local enterprises in the future. In the ECFA framework, the Government will continue to conduct financial negotiations. Hope that through exchanges across the Taiwan Strait to reduce cross-strait friction. Taiwan and China Construction China Economic Circle.