近年來，大陸快速的經濟發展與市場成長潛力促使證券業累積相當的成長動能，兩岸證券業合作一直以來為學術及產業界熱門討論之議題。目前在兩岸金融法令的積極推動下，替雙方證券業合作開啟新格局。本研究透過兩岸證券業發展之背景分析，截取台灣證券商優勢以提供進入大陸佈局的建議。
有鑒於大陸區域經濟成長與人口增長率為證券業發展的主要成長動能，顯示出大陸的沿海華東地區與中南地區具有證券發展潛能。珠江三角洲與長江三角洲區域內以國有大型證券商為主，台灣證券商在兩區域佈局時應選擇證券商密集程度較低且具有證券成長動能的城市，以避免受到大型證券商壟斷的威脅。
考量台灣證券商特有知識技術、證券商品牌與聲譽、兩岸政策鬆綁、大陸外部不確定性降低、大陸市場需求成長潛力因素與過去負面的股權合資經驗，台灣證券商會偏向以全資模式進入市場；然而面對大陸證券商在區域性佈局的態勢與其複雜的組織背景，台灣證券商採取不同承諾程度的進入模式，其關鍵因素為雙方對合資成立的共識與企業文化的融合度。
台灣證券商以合資模式進入大陸市場佈局時的對象選擇，應以低市占率、雙方業務互補性高與其受到國家持有股份比例較低的大陸證券商以及擁有豐富市場經驗累積、註冊資本額高的大陸證券商為優先考量。外資於大陸市場的長期耕耘提供成立合資證券商的基礎，積極參與大陸金融改革的協助建立良好形象，引進新金融業務以求擴大業務發展。合資證券商的雙方股權比例的取得、與大陸政府關係的建立為合資個案成功關鍵。
為了加速台灣證券商於大陸市場佈局的腳步，雙方政府應積極的解除兩岸法令架構的限制，爭取台灣證券商以全資全照的方式登陸，使台灣證券商透過法令開放的時間點，在內地實際地提供相關金融服務，深化與大陸的交流，奠定未來台灣證券商於對岸的長期穩健成長之基礎。 / Chinese securities industry has been benefiting by domestic economic growth and enormous growing potential. Cooperation between cross-strait securities industry turns into a new page due to deregulation of financial constraints. This paper is based on development of each securities industry, analyzing the advantages owned by Taiwanese security firms and providing suggestions for entering Chinese market.
The economic growth rate and popularity growth are key factors of security development which show coastal area and southern area of China have more security growing potential. In Pearl River delta and Yangtze River Delta, the security firms are highly concentrated and most are state-owned.It is more appropriate for Taiwanese security firms to choose less competitive regions when entering those two areas.
Taiwanese security firms prefer choosing wholly-owned enter model in order to protect specific firm’s know-how and reputation. Due to decrease of external uncertainty, deregulated investment policies and strong growth potential in China, security firms prefer wholly-owned enter mode to manage resource efficiently. The complex organization structures of Chinese security firms and cultural differences are the main reasons of choosing enter mode for Taiwanese security firms.
Security firms which have less market share and lower state-owned characters are appreciable for being cooperative targets. Accumulated market experience, capital capacity have positive influence on joint venture performance. Complementary product services provide various accesses to expand security firm’s income. Foreign security firms have been making effort in Chinese market by participating financial revolution actively which has built a good relationship with Chinese government. From experiences, the ownerships between cooperative parties and the relationship with Chinese government are key factors to build joint ventures successfully. Therefore, it is top priority for government to improve the relationships between cross-strait to endeavor acquiring entire license in order to speed up entering Chinese market.
| Identifer | oai:union.ndltd.org:CHENGCHI/G0095357005 |
| Creators | 許佩茹 |
| Publisher | 國立政治大學 |
| Source Sets | National Chengchi University Libraries |
| Language | 中文 |
| Detected Language | English |
| Type | text |
| Rights | Copyright © nccu library on behalf of the copyright holders |
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