在全球化的驅動且基於成本或競爭的考量，廠商會進行對外投資或是拓展海外市場。過程中廠商面對的首要課題為如何選擇一最適組織型態，因為進入模式的選擇除了反映內在經營動機及發展歷程外，也將對公司投資績效產生重大影響。
    本研究以增展型交易成本分析架構為基礎，探討各層面因素對台灣製造業廠商之海外投資進入模式選擇的影響，以及進入模式選擇與海外投資績效間之關係。過去許多實證研究在忽略決策為內生且具自我選擇特性下，估計經營型態對投資績效的效果，然而此種潛在問題有可能會使分析結果產生偏誤。因此，本研究透過已發展能控制自我選擇特性的計量工具進行分析。
    其實證結果顯示，相對規模大小、資產專屬性、產品相關性、資源導向投資、出口銷售比率及環境不確定等因素皆會影響台商對外投資時的進入模式選擇。績效估計方面，若模型未控制進入模式選擇的內生性，獨資有較佳的績效結果；但是在模型加入了自我選擇調整因子，則經營型態對績效之影響將變得不顯著。藉由建立的決策偏離變數亦可發現，按照本研究理論架構所選擇的進入模式其績效表現較佳。

As the forces of globalization drive firm to expand outside their home market, a primary issue of concern is in establishing effective boundaries for the firm. Because of the entry mode choice besides the reflection management motive and the development course, also will havethe significant influence to the corporate investment achievements.
  In this study, we add TC variables to a set of variables previously used to predict Taiwanese manufacture firms’ mode choice and performance .Firms choose strategies based on their attributes and industry conditions；therefore, strategy choice is endogenous and self-selected. Previous empirical models that do not account for this and regress performance measure on strategy choice variables are potentially misspecified and their conclusions are incorrect. We use Heckman’s two-stage method to correct this biased. 
   The finding reveal first the firm- and transaction-specific are strong influence of firms’ entry mode choice. Second, firms that use TC-enhanced selected mode choices perform better than firms that do not. Third, the significance of this effect that strategy on performance disappears once we account for self-selection of entry mode in the estimates.

第一章 緒論 …………………………………………………………………………1
第一節 研究動機  ………………………………………………………………1
第二節 研究目的  ………………………………………………………………3
第三節 研究流程  ………………………………………………………………4
第二章 文獻回顧與探討 ……………………………………………………………5
第一節 進入模式意義與選擇之動機  …………………………………………5
第二節 進入模式類型……………………………………………………………6
第三節 海外投資進入模式選擇之相關理論基礎 ……………………………10
第三章 研究設計與方法  …………………………………………………………17
第一節 研究架構 ………………………………………………………………17
第二節 研究假說發展 …………………………………………………………20
第三節 實證模型 ………………………………………………………………29
第四節 研究變數之說明與衡量 ………………………………………………32
第四章 資料來源與實證結果分析  ………………………………………………38
第一節 資料來源與樣本特性分析 ……………………………………………38
第二節 實證結果 ………………………………………………………………44
第五章 結論與建議  ………………………………………………………………55
第一節 研究結論 ………………………………………………………………55
第二節 研究限制與建議 ………………………………………………………56
參考文獻 ……………………………………………………………………………58
附表 …………………………………………………………………………………63

圖目錄
圖1-1 研究架構圖  …………………………………………………………4
圖3-1 增展型交易成本分析模型 …………………………………………19
圖4-1 Heckman 兩階段方法步驟 …………………………………………44

表目錄
表2-1 契約、獨資與股權合資  ……………………………………………7
表2-2 進入模式與類型  ……………………………………………………8
表3-1 變數預期效果與參考文獻 ………………………………………… 37
表4-1 對外投資行業(前十名)-按國內事業中業別分…………………… 40
表4-2 對外投資地區(複選前十名) ……………………………………… 41
表4-3 海外事業的投資型態 ……………………………………………… 42
表4-4 各變數之敘述統計表 ……………………………………………… 43
表4-5 第一階段之Probit模型：進入模式決策 …………………………47
表4-6 第二階段之海外投資績效(營業額)估計結果 …………………… 50
表4-7 預期平均營業額 …………………………………………………… 52
表4-8 第二階段之海外投資績效(獲利水準)估計結果 ………………… 54

中文部分
曹為忠、曹雪蘭、李文瑞、陳旭銘（2002），進入模式、產業環境、以及廠商特性對廠
  商海外市場經營績效之影響，企業管理學報，54，頁61-86。

吳讚庭，『交易成本、制度環境、國際化經驗』對海外進入模式與經營績效之影響∼台商 
  赴海外投資之實證研究，元智大學管理研究所碩士論文。

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