As a whole the steel industry in Taiwan has become relatively mature from a highly growing industry in the past till facing slow down in demand recently. Its growing rate has been decreasing gradually. During the past two years, the growth was decreasing following the saturation of the domestic market. On the other hand, the Mainland China has a strong demand on steel due to its rapid economic development, and has become an important export market for the steel industry in Taiwan. The strong demand from the rapid growing China market can absorb the extra production capacity of the downstream steel industry in Taiwan which is facing a bottleneck in the domestic market. The present study is aimed to research the following issues: 1. Strategy and competitiveness of steel industry in Taiwan; and 2. Taiwan steel companies¡¦ investment in China. The main conclusion obtained I the present study includes: 1. Shareholders structure of steel companies in Taiwan has affected decision making for investment in China. 2. The domestic market for steel in Taiwan has been saturated. 3. China is an opportunity for Taiwan steel industry. 4.Taiwan steel industry invested a lot and built steel mills in China, mostly during 2002 and 2003.

published_or_final_version / Economics and Finance / Doctoral / Doctor of Philosophy

published_or_final_version / Politics and Public Administration / Master / Master of Public Administration

published_or_final_version / abstract / Architecture / Master / Master of Science in Interdisciplinary Design and Management

Executive Summary China started to implement reformation policies and employ free market system in 1979. Through twenty years, it did pose an great impact on the global market , although several panic events lie on the way: June 4 TAM Square Event in 1989, inflation panic in 1993, Asian Financial Crisis in 1997, and economic bubble in 2000. Although experiencing these crises, this Asian giant is still attracting huge foreign and Taiwanese capital inflows. Accordingly, the volume of trade between China and Taiwan is increasing rapidly. Since the economic environment is changing speedy, Chinese government keeps reforming its financial system to a great extent. By making best efforts for many years, China already achieved a nearly sound economic system. Indeed this mission is not easy for China to accomplish. However, following by rapid developments in economy, lots of potential problems, such as high unemployment rate, huge difference between rich and poor, discrimination between urban and rural areas, financial bad debts, localism, and corruption, will probably result in a global crisis if China does not handle those very cautiously. In Chapter II, we mainly discuss international business, the establishment of multinational enterprises, Dunning¡¦s Eclectic Theory, and major factors to set up cross boarder banks. Additionally, by analyzing the papers about the internationalization process of local banks and the funding sources for Taiwan corporations in China, we prove the phenomenon how those Taiwanese companies make their investments in China. In Chapter III, we explain the research method in this paper. We interviewed the managers who have worked for China branches of Taiwan financial institutions and conducted a survey for the listing corporations which already invested in China. In Chapter IV, we conduct a research and analysis on both Taiwan and China entire environments including the process of China economic reformation and development, the trade and investment interactions between China and Taiwan, the evolution of China banking system, the business model and strategies of foreign banks in China, the problems for Taiwan banks, the analyses of relevant regulations and policies in China, SWOT analysis among Taiwan, China, and foreign banks, and marketing strategies of Taiwan banks for Taiwan corporations in China. In Chapter V, based on the above analyses, in order to provide the advice for our government and local banks, we evaluate whether Taiwanese banks can capture the opportunity to expand their market in China under current regulations, competitive environment, and customer demands. In Chapter VI, we make conclusions and suggestions including the future strategies of local banks, how to employ strategic alliance or joint venture closed to marketing strategies of Taiwan corporations in China, and suggestions for Taiwanese government, banking, and people who work in banks.

published_or_final_version / Real Estate and Construction / Master / Master of Science in Real Estate and Construction

by Au Wai-keung, Francis. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1988. / Bibliography: leaves 48-51.

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.

by Hui Leung Wah, Herbert, So Kam Chee. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1988. / Includes bibliographical references (leaves 84-85).

by Cheng Ngai Fai, Tong Wai Kin, Kenneth. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1997. / Includes bibliographical references (leaf 50). / Chapter 1. --- INTRODUCTION --- p.1 / Chapter 2. --- OBJECTIVES --- p.4 / Chapter 3. --- LITERATURE REVIEW --- p.6 / Overview of REITs --- p.6 / The Current Market of REIT --- p.8 / Regulations Imposed on REITs --- p.10 / Performance of the REITs --- p.12 / Key Success Factors and Marketability of REITs --- p.14 / Avoid Double Taxation --- p.14 / Current Income --- p.15 / High Liquidity --- p.15 / Professional Management --- p.16 / Portfolio Diversification --- p.16 / Performance Monitoring --- p.17 / Inflationary Hedge --- p.18 / Attraction of REITs to Pension Investors --- p.19 / REIT Dependence on Capital Markets --- p.20 / Who Will Supply the Capital --- p.21 / Four Basic Investment Methods --- p.23 / Real Estate Analysis --- p.24 / Chapter 4. --- HONG KONG ECONOMIC AND FINANCIAL ENVIRONMENT --- p.25 / General Economy --- p.25 / Hong Kong Stock Market --- p.28 / Hong Kong Debt Market --- p.30 / Hong Kong Property Market --- p.32 / Chapter 5. --- ANALYSIS --- p.35 / Hong Kong Stock Market --- p.35 / Simulation of REIT in Hong Kong --- p.39 / Chapter 6. --- DISCUSSION --- p.43 / Internal Rate of Returns --- p.43 / Risks and Returns --- p.44 / Limitations on Our Studies --- p.45 / Conclusions --- p.45 / APPENDIX --- p.47 / BIBLIOGRAPHY --- p.52