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研究生:陳克華
研究生(外文):keh-hua Chen
論文名稱:匯率變動對企業研發與對外投資策略的影響
論文名稱(外文):How the foreign exchange ratres influence the firm's strategy in R&D and FDI
指導教授:滑明曙滑明曙引用關係
指導教授(外文):Ming shu Hua
學位類別:碩士
校院名稱:國立暨南國際大學
系所名稱:國際企業學系
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:1999
畢業學年度:87
語文別:中文
中文關鍵詞:金融風暴對外直接投資匯率變動研發投入投資區位匯率風險暴露額
外文關鍵詞:financial crisisforeign direct investmentforeign exchange ratesresearch and developmentlocation choiceexchange rate exposure
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 本研究先從理論出發,推導出匯率變動與廠商研發投入及對外直接投資的關係。在實證上以兩種不同的角度來探討此一問題。一方面以整體對外直接投資資料作為觀察對象,探討長時期的時間趨勢下,匯率波動及廠商研發投入對本國廠商對外直接投資及研發行為的影響,以迴歸分析來驗證理論是否與實際資料吻合並且將不同產業也納入考慮,另外加入匯率風險暴露額及匯率淨風險暴露額來代替匯率,以了解各產業的對外投資與其各產業的匯率風險暴露額及匯率淨風險暴露額間的關係。另一方面採用問卷調查,針對已進行對外投資之廠商探討在金融風暴前後本國廠商的研發投入及對外直接投資行為是否受到影響及其影響的程度,採用變異數分析來驗證不同規模、不同產業、不同區位的廠商是否受到不同的影響。並且分析在金融風暴前後投資區位選擇有改變及沒有改變的廠商在研發投入及投資金額上的比較。
  從資料顯示,匯率變動會影響廠商的研發投入,再進一步影響廠商的對外直接投資的關係是存在的,部分資料並不顯著。匯率風險暴露額對產業的對外直接投資影響卻是極為顯著。亞洲金融風暴下台商無論是研發投入或是對外投資金額大多均無變動。然而若分成投資區位選擇是否有所改變的廠商做比較便會發現廠商間的差異的確存在。

目    錄
第一章 緒論7
第一節 動機與背景7
第二節 研究目的與範圍10
第三節 研究方法與限制10
第二章 匯率變動影響研究發展及對外直接投資的相關理論12
第一節 匯率對對外直接投資的影響12
第二節 匯率變動對廠商研發的影響16
第三節 研究發展對直接對外投資的影響17
第四節 理論模型18
第五節 亞洲金融風暴對廠商研發與對外投資的影響22
第三章 實證模型25
第一節 台灣整體對外投資實證模型25
第二節 亞洲金融風暴對台灣廠商研發與對外投資的影響52
第四章 結論與建議84
第一節 結論84
參考文獻………………………………………………………………………….….89
附錄一:實證方法…………………………………………………………………...94
附錄二:問卷………………………………………………………………………...96

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