中國大陸自改革開放後，隨著經濟、社會控制的放鬆，制度的調整與創新，種種改變無不成為中外學者對中國大陸民主化前景引頸期盼的研究焦點。當中國大陸面對多種民主化路徑選擇下，「選舉」無疑是備受學者關注的一環。1998年起，「直接選舉」在城市基層社區的推動，成為中國大陸基層民主發展的一個新階段。而西方的現代化理論更將城市視為「民主發展的搖籃」，其高度的經濟、社會發展，有利於帶動公民社會之萌生與民眾政治參與的需求。因此，選舉在城市的發展為觀察中國大陸民主發展的重要標的。 有鑑於「民主選舉」具有的政治賦權意義，社區居民委員會推動的直接選舉，雖仍存在國家主導的問題，但選舉機制的修改，讓選民能自由參與、自由選擇，以及開放候選人的推薦。因此，選民是否能在此機制之下，透過居委會選舉的參與，培育出更強的政治意識，或透過選舉議題激發社區公共意識的萌芽，發展抗衡國家的社會力量？本文經由2003、2006兩屆上海居委會選舉為研究案例，探討社區居民的選舉參與情況，以「政治功效意識」和「社區意識」作為分析選民選舉參與態度之架構。 研究結果發現，城市社區選舉參與程度愈高者，其政治功效意識與社區意識均得到提升，但低度參與的社區居民兩方面的效果則不顯著。顯示，基層社區國家動員下的選舉參與，有助於部分社區成員強化其政治功效意識，以及激發社區意識的我群觀念。而選舉作為中國大陸基層社會自主力量的訓練，將可能有助於培養城市居民具有更高的政治參與能力，以及可能產生的非預期政治改革後果。

為面對全球化及區域化的激烈競爭，我國政府的因應策略中即包括藉由健全區域的發展，提昇國家總體競爭力，而具體政策之一為於地方制度法增訂縣市單獨或合併升格直轄市的條文，以期透過直轄市帶動週邊縣市的發展。然而直轄市組織制度與縣市不同，轄內劃分為「區」，區非自治團體而為市政府的派出機關，因此99年隨同新北市、臺中市及高雄市轄區內烏來、和平、桃源、茂林及那瑪夏等5個於於山地原住民區域的山地鄉改制為直轄市之區，不再具有公法人地方，無法進行自治，因而引起原住民族的抗爭。 經過原住民籍立委不斷爭取要求烏來等五區恢復自治的權利，終在103年1月14日於立法院三讀通過地方制度法修正案，將此五區改制為擁有自治團體地位的「直轄市山地原住民區」，並於同年1月29日由總統公布施行，後於11月29日進行第一屆山地原住民區長及區民代表的選舉。而本研究係以由五個區於改制為直轄市之區至修法取得自治權為時序範圍，蒐集政策變遷過程的相關資料，並以質化深度訪談相關立法及行政機關人員，以期取得多面向的資訊，以分析並建構本個案更完整的面貌。 本研究藉由政策變遷理論構築之以「環境與制度面向」、「政策網絡及互動」及「政策性質與屬性」等三個面向為基礎的研究架構，並觀察政策窗模式的作用及影響，最後透過系統化重組次級資料及訪談紀錄，提出研究發現、實務建議及後續研究建議。 其中有關實務建議部分，第一，提出本個案成功達到政策變遷的原因、過程及關鍵因素，希望作為往後欲推動政策變遷之類似個案參考；其次，希望中央相關部會儘速完成制度面後續的配套修法，並協助原住民地區提升自籌財源能力；第三，中央與地方應有更充份的溝通，並且協助地方改善因選舉而衍生的陋習；再來，應釐清我國原住民族自治的範疇、定位及方式；最後，建議針對重大政策變遷可依指標進行政策評估。另外，於後續研究建議部分，本研究認為可針對立法委員立法面向、保障少數族群的底線及政黨因素於原住民族區域治理的作用等議題進一步的研究及討論。 / Facing global competition and the localization of competitive advantage, Taiwanese government enforces strategies including strengthening regional development to promote general competitiveness of the country. One of the concrete policies is the amendment of Local Government Act in planning to change counties/cities into special municipalities or merge counties/cities with other special municipalities or counties/cities into a special municipality to push the development of the regions forward. However, the organization system of special municipality is different from counties/cities. “Districts” within the special municipality are branches of city government, no longer autonomous as local self-government. In 2010, regions like Wulai located in New Taipei City, Heping in Taichung, Maolin and Namasia in Kaohsiung City were changed into districts of special municipality, the indigenous people therefore fought against the policy which brought no autonomous status. As the result of indigenous legislators’ struggle for autonomy of indigenous districts, these five regions have been converted from mountain indigenous townships were shall have autonomous status. The Local Government Amendment Act were amended and promogated on 14 January 2014, and forced by the president on 29 January 2014. Furthermore, on 29 November 2014, the mountain indigenous districts held the first election of the first batch of councilors and chief administrators. This study sets timing range from when these five indigenous townships transformed into municipal districts to when they attained autonomy due to law amendment. By collecting materials concerning the process of policy change as well as conducting qualitative interviews with legislators and executive authorities to obtain multidimensional information, this study analyses and constructs a full outlook of the individual case. This study is based on “environment and discipline dimension”, “policy network and interaction” and “policy’s character and attribute” as the structure of research. By ways of observing the function and influence of policy window and of regrouping secondary data and interview records systematically, this study brings forward research results, practical recommendations and suggestions for follow-up study. As for practical recommendations, first, this study addresses the reason, process and key factors for the individual case succeeding in policy change in hope of propelling policy change for similar cases in the future. Secondly, this study expects concerned ministry or commission in the central government to complete the follow-up amendments systemically as soon as possible; also they should assist indigenous regions in enhancing the ability of self-financing. Third, the conversation carried by the central with the local should be more sufficient and it should assist the local in correcting undesirable customs resulted from elections. Moreover, the scope, position and manner of indigenous people’s autonomy in Taiwan should be clarified. Lastly, this study suggests that policy evaluation should be implemented according to index when it comes to major policy change. In addition, for follow-up research, this study advises further research and discussion targeting at topics such as legislator’s lawmaking, the bottom line of protecting minor groups, and party’s influence on indigenous regions’ management.

本文利用互補要素模型分析垂直相關市場中之整併策略，並討論在不同談判力下之各種均衡市場結構。當下游廠商所需生產要素之一為獨賣要素，另一由寡占廠商生產時，下游廠商與上游非獨賣要素廠商將視整併後談判力保存程度大小與獨占要素廠商進行補貼與否而決定是否進行垂直整併，上游獨賣要素廠商則會經由比較整併一家下游廠商和任由其他廠商垂直整併所能獲得之利潤，決定在下游廠商談判力較大的情況下併購下游廠商。而當上游非獨賣要素廠商談判力極小或極大時，上游獨賣要素廠商與下游廠商整併亦較為有利。 / This research investigates merger decisions in a vertically-related market with two complementary intermediate inputs by using the Nash bargaining model. The production of final good involves two complementary inputs, exclusive inputs and commonly available inputs. The downstream firms and the oligopolistic upstream firms would merge if the preservation of bargaining power after merger is large enough or the monopolistic input supplier subsidizes them to do so. The monopolistic input supplier compares the gains of merging a downstream firm and the profit of letting other firms integrate. The monopolistic supplier would merge a downstream firm when the bargaining power of the downstream firms is large. Also, merging with a downstream firm becomes more profitable for the monopolistic supplier if the bargaining power of oligopolistic upstream firms is extremely small or extremely large.

直覺上，跨國資本的自由流動對投資國與被投資國的經濟均有益處，亦可促使資源在國際間以更有效率的方式分配，增進雙方的福利。然而實際上被投資國卻對外來投資加以限制，並且須透過雙邊協商的方式移除此限制。因此，前述自由投資增進兩國福利的直覺似乎與既存的眾多雙邊投資協定相互矛盾。本文建立一基本的理論模型，考慮直接投資以及兩國的策略性投資政策，藉以說明 Nash Equilibrium 為兩國相互課稅，且無單邊降稅的動機。因此，只有透過雙邊簽署投資協定的方式共同降稅，方能消除課稅所產生的無謂損失。 / Intuitively, the free mobility of transnational capital not only benefits home countries and host countries, but also allocates resources globally in a more efficient way, which makes their welfare increase. However, host countries actually implement many restrictions on cross-border capital and try to remove these through bilateral negotiations. Therefore, the intuition that free investment between two countries will increase their economic welfare seems to be contradictory to many existing bilateral investment treaties (BITs). This article provides a theoretical model with foreign driect investment (FDI) and strategic investment policies, first, as to explain the Nash Equilibrium is that two countries will tax investors' FDI behavior. Second, it explains both countries do not have any motivation to reduce taxes unilaterally. Therefore, only when these two countries decide to remove all restrictions on foreign capital mutually by signing bilateral investment treaties do they eliminate the deadweight loss which restraints bring about.

Taiwan successfully accomplished the second transfer of power in May 2008. During the presidential campaign period, one could easily discover that issues with respect to cross-strait relations always occupied the center of the attention both at home and abroad. The biggest difference on the issues of cross-strait policy between the two competing parties was regarded as conservativeness and openness. Among major proposals presented by the Kuomintang (KMT) during the campaign in 2008, the key incentive and quickest way to improve and rejuvenate Taiwan’s sluggish economy was to introduce cross-strait direct charter flights and encourage Mainland tourists to visit Taiwan. As of July 2013, there are 616 direct passenger flights flying to and from Mainland China on a weekly basis and over seven million Mainland tourists have visited Taiwan. This thesis utilized Secondary Data Analysis to investigate the negotiation process and developments of the cross-strait direct air transportation. This thesis does not aim at evaluating the comprehensive impacts of the full implementation of cross-strait direct air transportation; instead, it emphasizes the political view, policy-making considerations, and the negotiation process made by Taiwan’s ruling parties at different eras and interactions with their Mainland counterparts in an effort to offer productive recommendations for the competent authorities across the Taiwan Strait. / Taiwan successfully accomplished the second transfer of power in May 2008. During the presidential campaign period, one could easily discover that issues with respect to cross-strait relations always occupied the center of the attention both at home and abroad. The biggest difference on the issues of cross-strait policy between the two competing parties was regarded as conservativeness and openness. Among major proposals presented by the Kuomintang (KMT) during the campaign in 2008, the key incentive and quickest way to improve and rejuvenate Taiwan’s sluggish economy was to introduce cross-strait direct charter flights and encourage Mainland tourists to visit Taiwan. As of July 2013, there are 616 direct passenger flights flying to and from Mainland China on a weekly basis and over seven million Mainland tourists have visited Taiwan. This thesis utilized Secondary Data Analysis to investigate the negotiation process and developments of the cross-strait direct air transportation. This thesis does not aim at evaluating the comprehensive impacts of the full implementation of cross-strait direct air transportation; instead, it emphasizes the political view, policy-making considerations, and the negotiation process made by Taiwan’s ruling parties at different eras and interactions with their Mainland counterparts in an effort to offer productive recommendations for the competent authorities across the Taiwan Strait.

海外經營方式會影響廠商能否成功達成其對外投資目的，本研究主要目的在探討廠商海外事業經營方式之影響因素，借由經濟部2007年製造業對外投資實況調查，透過廠商特性、投資動機、地主國特性及營運特性四大面向進行討論，運用兩階段Multinomial Logit Model進行實證分析。經第一階段實證研究發現，擴張型市場動機、經濟動機、策略動機及原料來源是廠商選擇海外事業經營製造業、銷售服務業或同時經營製造及銷售服務業的影響因素；第二階段實證則發現經濟動機及母子公司分工關係是影響製造業廠商海外經營代工、自有產品或同時經營代工與自有產品製造的影響因素。 實證說明多項變數使臺灣海外投資廠商傾向同時經營製造及銷售服務業，亦會讓海外經營製造業之廠商同時經營代工及自有產品製造，實證結果可提供臺灣廠商海外事業經營之參考。

本文透過特定之賽局設計，欲觀察廠商在相互整合之現象與原因。內文中之賽局有以下玩家：上游有一獨佔之中間財供應商，而下游有兩種不同類型共三家之最終財生產廠商，而其中一間下游廠商之技術優於其他兩家，其生產最終財之邊際成本較低。賽局之設計為一動態賽局，上游先決定是否進行垂直整合，下游將會觀察到上游垂直整合之意願，並將水平整合視為對上游釋放之友善信號，接著上游廠商將對水平整合之廠商，進一步進行垂直整合；若下游未因上游之意願而進行水平整合，則上游廠商將隨機選擇一間下游廠商進行垂直整合。 廠商於互動時，我們加入不確定性並加以計算並分析；首先是廠商間整合時存在不確定性，由於下游廠商之技術水準為一不透明資訊，換言之，無論是上游觀察下游，或者下游廠商間，皆不了解對方之技術水準，僅知技術水準佳與較差的下游廠商之比例與數量，因此在廠商整合時將面臨整合綜效與技術衰退之風險性；另外，在模型中，加入一整合失敗之懲罰額，當技術較差之兩間下游廠商相互水平整合時，將面臨整合失敗之風險。 經試算後發現，根據這樣的模型設定，若下游未水平整合，或者水平整合之雙方生產技術相異，將會排擠技術較差之下游廠商進行生產；此外，我們亦發現，若進一步分析均衡結果，我們發現，不同技術類型之下游廠商，水平整合之成功(失敗)率，以及兩間技術較差之下游廠商整合後之懲罰金額，皆將影響下游廠商水平整合之意願，若下游廠商不願意進行水平整合，上游廠商經衡量後，將不對下游釋放垂直整合之意願信號，此時廠商間之結構將維持原狀。 本文欲透過加入不確定性，試圖找出與前人研究之異同處；而透過本文之模型設定，我們發現了與前人相似之結論，亦即存在上下游之廠商結構中，將有可能出現廠商間完全分離(沒有任何水平或垂直整合發生)之現象。 / This thesis tries to find out the interaction between firms, especially when these firms face the decision of merging. We also try to figure out the reason why these firms try to merge than stay separation. Here we design a game with some specific conditions for firms to observe the process they merge and the outcomes. In this dynamic game, we design 2 layers, 3 kinds, total 4 firms to be the players of the game. Upstream firm has to make decision whether to merge the downstream firms. Then downstream firms try to merge horizontally after they receive the signal that they knows that upstream firm’s willingness to vertical merge. Here we have to kinds of downstream firms, the one who has better technology has lower marginal cost, in this thesis we assume the marginal cost to be zero. The game have 3 downstream firms totally, so the other 2 downstream firms have the same technology and have the marginal cost above zero. While the downstream firms merge horizontally, they face the uncertainty of the marginal cost changes and the rise of fixed cost, recognized as the failure of integrations. Then the upstream stick to its promise to vertical merge, it will tend to merge the downstream firm which had horizontal merge previously. The result is far beyond the expectation we had before we run this model. The inferior downstream firms will not join the game, even they won’t produce any when the superior downstream firms is vertically merge by upstream firm, no matter the downstream firms merge each other. More, the probability of success in horizontal merge will affect upstream firm to make the decision of vertical merge. The game has only two equilibriums in the end, one is all firms stay separately, and the other outcome is one inferior downstream firm will rule out from the game, and other firms will be merge to one firm and become the monopoly firm in the entire market.

近年臺灣經濟表現不佳，租稅收入入不敷出，故吾人興起藉瞭解其他國家之租稅制度，以求能有新的公共服務思維來開拓稅務新視野，此乃研究動機。 　　本研究的目的為： 　　一、探討香港為何在世界各國大多採行綜合所得稅制之情形下，仍然採行「分類所得稅」制？ 　　二、探討在世界各國多為因應人口結構轉變及避免影響工作意願，而調整直接稅與間接稅比重的同時，為何香港政府未與世界潮流接軌，仍然維持高比例之直接稅？其與經濟成長率之關係為何？有無調整之必要？ 本研究藉由瞭解香港所得稅背景、演進及歷年租稅收入結構變化，探討其採行分類所得的原因及直接稅稅收比重與經濟成長率的關係，獲得結論如下： 一、歷史地理因素－承襲英國所得稅制度，發展成國際貿易航運中心。香港稅務條例係以英國為殖民地制定的稅制為基礎而訂定，且香港位於歐亞大陸與太平洋交匯處，便於通往世界各地，又鄰近中國，爲中國的轉口貿易港，為吸引外資及促進經濟發展，稅制應求簡單。 二、簡單與效率原則－低稅率與簡單稅制。香港屬小型經濟體，為維持競爭優勢，堅持低稅率與屬地主義的課稅政策，並取消利息稅，不課徵資本利得稅與股息稅，對資金流動及對外投資障礙低、金融與銀行業限制少，使得國際金融中心的地位提高，無改革稅制之必要。 三、經濟及財政預算政策－自由放任主義、量入為出原則。以市場經濟為導向，且採取自由放任主義，加上預算財政政策採取審慎理財方式，以量入為出為原則，多為結算盈餘，經濟繁榮，故無租稅之改革動力。 四、實證結果－直接稅占稅收的比重與經濟成長率成負相關。直接稅占稅收的比重提高1%時，經濟成長率將降低0.1767%；即欲維持一定的經濟成長，必降低直接稅的比重。 / Taiwan’s Economic Performance is not satisfactory for the past few years; meanwhile, government’s total expenditures exceed the tax revenue that it generates. Consequently, it is the research motive to explore the brand-new thinking of public service to develop new scope of taxation by comprehending different taxation systems of other countries in the world. The research purpose is to explore: 1. why most of the countries put the global income tax into practice in the world, Hong Kong is still adopting the schedular income tax. 2. why most of the countries regulate the ratio of direct tax to indirect tax for responding to the change of population structure and avoiding the influence of incentives to work in the world, Hong Kong is still adopting higher percentage of direct tax, and whether which is related to economic growth and which is required to regulate. The research mainly explore the reasons of adopting the schedular income tax and the relations between the ratio of direct tax to total tax revenue and economic growth by comprehending the background and evolution of income tax, and the change of taxation structures over the years in Hong Kong. Its conclusions are as follows: 1.Geographic and historical variation—Based on inheriting British’s income tax system, Hong Kong has become the important center for international trade and shipping. Hong Kong Inland Revenue Ordinance is based on the taxation system established in the period of British Colony. Besides, Hong Kong is situated at the crossroads of Eurasia and the Pacific, its physical location is convenient to go everywhere in the world; moreover, it is China’s transit trade port because of adjoining Mainland China. As a result, taxation system is as simple as possible to attract foreign capital and promote economic development. 2.Simple and efficient principle—Simple and low-rate tax system. Hong Kong is a small-sized economic entity. For maintaining competitive advantages, Hong Kong has to persist in the taxation policy of low-rate tax and territoriality principle, and has repealed interest tax, and does not impose capital gains tax and dividend tax. Besides, there are few barriers to capital movement and investment outward and few restrictions on financial and banking industry for Hong Kong to attain a higher position in the international financial center, so it is not necessary to carry out the taxation reform. 3.Economic and fiscal budget policy—Laissez-faire and the principle of keeping the expenditure within the limits of revenues. As a result of market-oriented, laissez-faire economy, adoption of the fiscal budget policy of prudent financial management and the principle of keeping the expenditure within the limits of revenues, Hong Kong government budget is surplus frequently and its economy is prosperous, and therefore does not have the motive to carry out the taxation reform. 4.Empirical results—The correlation between the ratio of direct tax to total tax revenue and the rate of economic growth is a negative number. If the ratio of direct tax to total tax revenue increases by 1%, the rate of economic growth decreases by 0.1767%, i.e., the first requisite for sustaining a certain rate of economic growth is decreasing the ratio of direct tax to total tax revenue.

電子科技業市場競爭激烈且瞬息萬變，尤電子科技業為台灣主力產業之一，如何選對的人並留住好的人以提升企業績效、降低培訓與訓練成本，為企業得以永續發展與生存的關鍵。因此，越來越多的企業重視員工的工作滿意度，並著手進行組織內部員工的工作滿意度調查。本研究將針對H集團某一土城廠區員工作個案研究探討，藉由研究個人屬性變項中性別、年齡、年資、婚姻狀況、教育程度對工作滿意度的差異性及環境屬性變項中直屬主管領導型態與工作特性對工作滿意度的相關性，希望調查結果及建議可以提供相關人力資源管理工作者卓參。 本研究採結構式問卷，針對H集團某一土城廠區員工發放300份問卷，回收有效問卷292份，回收率為97.33%，主要研究結果顯示如下: 一、不同年齡的H集團員工工作滿意度有顯著差異存在。 二、不同直屬主管領導型態的H集團員工與工作滿意度有顯著相關存在。 三、不同工作特性的H集團員工與工作滿意度有顯著相關存在。 關鍵詞:工作滿意度、直屬主管領導型態、工作特性 / Electronics industry market is highly competitive and rapidly changing, especially electronics industry is one of the main industries in Taiwan, therefore, how to choose right people and retain right people to improve business performance and reduce training costs are the important issues for companies to find sustainable and survival solutions. Moreover, more and more enterprises pay attention to employees' job satisfaction and do job satisfaction survey internally. In this study, focus on one of Tucheng factory staff of H Group case studies for discussion of personal property by research variables gender, age, seniority, marital status, educational level of job satisfaction and environmental attributes the differences in variables immediate supervisor leadership style and job characteristics on job satisfaction relevance, hope the findings and recommendations can provide references related to human resources field workers. The study adopted a structured questionnaire for one of Tucheng factory staff of H Group and sent 300 questionnaires out, and returned 292 valid questionnaires, the recovery rate was 97.33%, the main research results are shown below: 1. A different age of H Group employees’ job satisfaction has significant differences. 2. Under different leadership of supervisors of H Group employees’ job satisfaction has significantly correlation exists. 3. A different job characteristics of H Group employees’ job satisfaction has significantly correlation exists. Keywords: job satisfaction, supervisor leadership style, job characteristics

日本為東北亞地區的主要國家，自二次大戰後受限於和平憲法規定，被迫禁止硬權力的發展；為求國力發展，日本以戰後重建、恢復經濟、繁榮富裕的和平原則，成為經濟大國。而日本海外直接投資（FDI）在對外經濟活動中所佔比例極重，不僅對日本經濟發展貢獻良多，在日本對外關係中也扮演重要角色；透過海外的大量投資、專業技術的把持，使得日本在國際關係中扮演舉足輕重的角色，而80年代末東亞地區盛行的雁行模式，便是由日本海外企業投資所主導。 日本在國際關係上，向來為美國最重要也最忠實的伙伴；缺乏自衛武力的日本，在冷戰背景下，受到美國核傘的保護，並於國際事務上追隨美國的全球戰略，並以此原則確立冷戰時期日美外交事務的基軸。在吉田主義的指導原則下，日本致力於經濟復甦，而美國則扶持日本作為其戰略伙伴、大力支持日本經濟發展，並開放美國市場，協助日本產品進入美國。 隨著日本經濟日漸發展，日美貿易產生順差，而後發展為日美貿易摩擦，最後在美國的壓力下，日本於1985年簽訂廣場協議，逼迫日幣升值；受到匯率的影響，日圓不斷升值，在1985年至1996年間，日幣對美圓的比例由250：1遽升為87：1。日幣的升值固然在國際上削弱日本產品的競爭力，但美元的相對貶值，卻造成日本的資本輸出熱潮。從1986年至1991年，日本的海外投資總額達4000億美元，成為全球最大的海外直接投資輸出國。1985年後，日商公司開始大量購買美國企業，或在美國開設工廠，日商公司的瘋狂收購行動，也引起美國民眾的恐慌。而此時期的日本企業因缺乏海外投資經驗，在資訊不明、非理性決策模式下大量收購收購美國資產，導致日商在期貨、地產等行業的損失慘重。 本文將日本海外直接投資的研究範圍設定在1994年至2007年，主要是因為此時期的FDI不同於80年代末期的日本對美投資；不同於以往海外投資失敗的經驗，日本企業將國內失去比較利益的產業外移至其他工資低廉、生產成本較低的開發中國家，為貿易取向的海外投資。而日商企業至歐美等先進國家的投資，則是著眼於當地市場，為市場導向投資。隨著不同時期重大事件的發生，日商企業微調自己在全球佈局的戰略方向：NAFTA的成立，促使日本跨國公司加快前往墨西哥投資的腳步、亞洲金融風暴雖然重創該區開發中國家的經濟，但卻增強亞洲產品的競爭力，鑑於對亞洲開發中國家的經濟成長潛力與未來市場發展，日商企業依舊苦撐在此地區的生產據點、中國低廉的勞工成本則是吸引日商投資，造成熱潮、隨著中國經濟發展，工資相對於越南、印度提高，使得日商企業思考中國以外的投資熱點、由於印度等金磚四國的崛起，日商的投資觸角也延伸至南亞地區。 在全球化的浪潮下，日本的海外投資已不再是單向行為，不僅影響與地主國間的經貿關係，也牽動著第三國的貿易活動：日本對中國的直接投資佔中美貿易順差絕大比例，透過對中國直接投資，將產品出口至美國，日商企業藉著中國的低廉工資降低生產成本，也縮減日美貿易順差，將此缺口部分轉移至中美順差。產品所標示的「中國製造」標籤，只能說明產品的最後製造地為中國，但生產資本投入、中間財與獲利企業可能是來自於不同國家。 2008年自美國掀起之世界金融海嘯，較1997年亞洲金融風暴、2001年IT產業泡沫化更加嚴重，普遍造成全球國家景氣衰退、企業獲利短缺，在一片悲觀的氛圍下，仍有日商企業於海外投資活動中獲利。這些企業與眾不同的地方，正是在金融海嘯下生存的關鍵；日商企業的研發能力與不斷求新、求進步的活力，更是台灣企業值得借鏡的地方。 關鍵詞：海外直接投資（FDI）、兼併（M＆A）、跨國公司、比較利益、貿易與投資的替代效應。