高科技產業債務籌資之個案探討

Abstract

本論文透過既有文獻在探討2兆雙星高科技產業，在全球低利及歐債危機等環境中，如何選擇對企業最有效益的融資決策。 個案以文獻探討過去及現在企業債務籌資考量的因素，做為目前企業最好的籌資依據。而企業的資本結構、財務狀況及負債稅盾等考量，尤其更應考慮負債及股東權益間如何作選擇及規劃，影響資本結構的因素及融資工具的選擇，來評估對企業最有效益且最有利的融資決策。 本研究結果顯示，近年來台灣正處借款利率低檔，企業以低利率成本鎖定長期資金，這也就是為什麼企業傾向以直接金融在市場籌措資金的原因。

This thesis to explore how the 2 Trillion and Twin Star high-tech industry in the environment of the global low interest rates and the European debt crisis, to choose the most effective financing decisions through existing literatures.

The case study by literature investigates the past and present factors of corporate debt financing as the best current business financing consideration basis, which including the company’s capital structure, financial position and debt tax shield considerations. In particular, company should consider how to make a choice between liabilities, shareholder equity and planning, impact factors of the capital structure and the choice of financing instruments. Finally assess the most effective and favorable financing method.

The result of this research shows that Taiwan if recently In low loan interest rate, companies lock in low interest cost for long-term funding, which is why corporate tend to raise funds in the market by direct financing.