碩士 / 國立臺北大學 / 企業管理學系碩士在職專班 / 101 / ABSTRACT
This research aims to analyze the effects on the Taiwan Stock Market caused by the listing of foreign companies. The research will first analyze the motives behind listing in Taiwan, study the regulations and procedures required, and examine the current Taiwan Stock Market. The paper will highlight the advantages and disadvantages of the Taiwan Stock Market by performing a comparative analysis on the stock markets of Taiwan, Hong Kong, China, Singapore and Thailand.
The government is actively promoting and building Taiwan into an Asia-Pacific financing center. The solution is to attract foreign finance and investments into Taiwan. Transforming Taiwan into a financing center will not only gain international recognition, it will also expand the scale of the Taiwan stock market; accelerate the internationalization of the market; attract foreign experiences and talents; improve domestic financial information and technology; accelerate and become a nation with domestic and foreign financial transactions; transform into a center for financing and capital movements; promote multinational enterprises to set up operating base in Taiwan; and accelerate Taiwan into an Asia-Pacific financial management center. Hence, the main focus of this research is to understand the possible challenges faced by foreign enterprises financing in Taiwan.
This research finds that foreign companies applying to be listed in the Taiwan Stock Exchange can be divided into overseas Taiwanese nationals and Non-Taiwanese nationals. Some of the factors that influences their decision to be listed in the Taiwan Stock Exchange includes the legal system of the stock market, the extent of transparency, the price-to-earnings ratio, the turnover rate, and the refinancing capabilities in their local stock exchanges. Being listed in the Taiwan stock exchange also acts as an entry into the Chinese market. However, the regulations and supervision of the Taiwanese securities market, the effectiveness of the management systems, the structure and scale of the foreign enterprise, the domestic and foreign investors of the Taiwan stock market creates a negative effect on the foreign company listed in Taiwan. Furthermore, there is an indirect impact on the local Taiwan industry which further questions the effectiveness to be listed in the Taiwan stock market.
Key words: Foreign enterprises listed in Taiwan, Taiwan stock market, Asia-Pacific Financing center, turnover rate, price-to-earnings ratio, SPO(seasoning public offering).
| Identifer | oai:union.ndltd.org:TW/101NTPU1121001 |
| Date | January 2013 |
| Creators | LIN HENG SHEN, 林恒昇 |
| Contributors | Goo Yeong Jia, 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 | 64 |
Page generated in 0.0983 seconds