碩士 / 國立臺灣大學 / 財務金融學研究所 / 96 / Due to the steady industrial development in recent decades in Taiwan and the incentives the government gave to local companies for foreign investments, many large-scaled enterprises expanded to other developed and developing countries to seek oversea markets, lower manufacturing costs or technical development. Therefore, the amount of money invested oversea increased year after year. Observing the distribution of capital invested by Taiwanese enterprises globally, it was found that the capital invested in Countries in Caribbean Sea accounted for a great ratio in total oversea investment. However, the countries in Caribbean Sea didn’t have the functions that Taiwanese businessmen sought when investing oversea. On one hand, they were not the target countries that Taiwanese companies exported to. On the other hand, they didn’t have the advantage of cheap labor force or manufacturing skills. What was more, those Caribbean countries either were British territories or used to be British colonies. The common characteristic they had was tax incentives, attracting Taiwanese businessmen to set up offshore companies in order to save tax, transfer in investment and conduct other financial functions. It also worked as a launching pad for a company’s globalization.
In the local literatures on the topic of tax haven, it was concluded that the larger scale one enterprise had, the more it tended to set up offshore companies to transfer in investment and vice versa. Besides discussing local enterprises’ investing behaviors, this research would also analyze and compare the preferred oversea areas where listed companies invested. Observing local and international economic development trend since 2001, this research would try to find out its effects on foreign investment.
It was found that the amount of offshore companies set up by listed electronic companies from 2002 to 2006 accounted for more than half of those set up by entire listed companies. The growth was rapid as well. However, the majority of local listed companies were related to the electronic industry. It was reasonable that electronic companies owned more offshore companies than those in any other industries. Comparing the average offshore companies owned by each industry, electronic industry didn’t own the most. The different needs each industry had when investing affected the preference of location when registering offshore companies. For example, the companies in transportation tended to set up offshore companies in Panama and Hong Kong for the reason of important transportation locations. Financial and insurance companies preferred Hong Kong, British Virgin Islands and Cayman Islands for their well-developed financial systems. It seemed that there were no big differences of preferences when companies in other industries chose offshore jurisdictions. Not only electronic but also other industries preferred British Virgin Islands the most to set up offshore companies. The two offshore jurisdictions that have highest growth rate of offshore companies registered by Taiwanese listed companies were Samoa and Cayman Islands.
With a view to understanding the factors that influence local companies to choose different offshore jurisdictions, this research would compare the characteristics of top-ten offshore jurisdictions preferred by local listed companies and their functions to see why they were popular.
| Identifer | oai:union.ndltd.org:TW/096NTU05304023 |
| Date | January 2008 |
| Creators | Chiung-Wen Chang, 張瓊文 |
| Contributors | Hsien-Chan Ho, 何憲章 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 63 |
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