碩士 / 國立臺北大學 / 企業管理學系 / 95 / After the amendment of “the Regulations of Offshore Fund” had been passed on August 2 1994, along with the starting of the “Offshore Fund Master Agent Regulation” on August 1, 1995, the Government opens up the domestic market to the subscription and sales of the “Offshore Fund”, while mandating each “Offshore Fund” have single “Master Agent”. Currently, only securities investment consulting enterprise (SICE), securities investment trust enterprise (SITE) and Stock Broker who are qualified under certain conditions can become “Offshore Fund Master Agent”. In terms of SITE, as the NTD1.46 trillion “Offshore Fund” market opportunities reshuffled, the key factor to the success is whether it can come up with an integrated business management strategy according to its enterprise goal.
The purpose of this research is, by analyzing the competitions in the domestic SITES industry and its unique “Resource” and “Competence” using Barney’s “the Resource Based Theory” and Michael Porter's “Five Forces Model”, to understand the key factors to the success of SITE, the impacts to SITE after opening up the markets to the “Offshore Fund”, and the related business management strategies being adopted. We then try to discuss some of the insufficiencies of “the Regulations of Offshore Fund”.
First of all, some findings in the result of the analysis of Taiwan’s SITE industry: 1.The potential risk of having new competitor is medium; 2.The competition within the industry is fierce; 3.The risk of having replaceable is medium; 4.The bargaining power of buyers (customers) is increasing; 5.The bargaining power of suppliers (sales agent) is slightly decreasing.
Secondly, this research tells that after the domestic markets opening up to the Offshore Fund, as the SICE and Stock Brokers can cross over industry to enter the Master Agent business, the competition in SITE is increased. Then, this research gives these suggestions of management strategy to the SITE: 1.Strive for the Offshore Fund’s Master Agent business, by broadening the scope of product line to meet the demands of customers, strengthening the ability of investing in overseas market and expanding the business of overseas market. 2. Take advantage of the favourable policy from the Government to create the new investment tool and financial instruments, to improve the products performance, diversify investment portfolios and increase innovations. 3. Strengthen cooperation among channels to find new opportunities. 4. Improve the risk management of the new financial instrument; keep the risk inside the acceptable range. 5. Look for niche products which apply for its core competitive advantages and develop them in targeted market.
In addition, this research concludes with these key factors to success in SITE: 1.The overall performance of all funds; 2.;Good corporate image and brand 3.Complete product line; 4.Good management system, including stable fund managers with high quality; 5.The ability to offer perfect service and quality; 6.The advantage of Channels, including high-quality sales officers.
Lastly, after the “Regulations of Offshore Fund” had been passed, it makes the information of the Offshore Fund more transparent and the investors’ trading safer. However, with little limitation of the Offshore Fund in investment and more freedom it operates, the government must try to loosen up the regulations of domestic fund to make it more competitive in the SITE industry to the Offshore Fund counterpart. The Offshore Fund registered in the European Union (UN) should be regulated by UCITS III Directive from August of 2007. After this reform, the Government should also bring in concrete solutions to these Offshore Funds as soon as possible in order to be in line with international standards.
Key-word：securities investment trust enterprise, domestic Mutual Fund, Offshore Fund , key factors to success, and management strategy
| Identifer | oai:union.ndltd.org:TW/095NTPU0121066 |
| Date | January 2007 |
| Creators | HUANG,CHEN-HSIU, 黃政修 |
| Contributors | GOO, YUNG-CHIA, 古永嘉 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 100 |
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