本文引用臺灣地區紡織業 64 家廠商於 2008 ~2017年間的縱橫資料，估計其投方程式，圖了影響投資行為的因素。實證研究結果發現下列二重要結果:
1.整體而言，以Tobin’s q、營業利益代表的現金流量與新增債務三個變數皆顯著的對投資產生正向影響，利息支出則對投資有不顯著的負向影響。
2.近三年來，四種融通變數對投資的影響皆呈現下降態勢，除了財務槓桿變數下降較不顯著外，其餘Tobin’s q、現金流量、新增債務的影響皆非常明顯。

This thesis takes 64 manufacture firms in Taiwan’s textile industry as sample collecting panel data ranging from 2008 to 2017, to estimates the investment equations that is popularly adopted by economists to study this topic, in an attempting to understand the factors that affect their investment behavior. The empirical estimation found the following two important results:
1.Overall, Tobin's q, the three variables of cash flow and new debt represented by operating interests have a significant positive impact on investment, while interest expense has no significant negative impact on investment position.
2. In the most recent three years, the magnificent of the four accommodation variables have decreased and the effects of Tobin’s q, cash flows and new debts have dropped significantly.

目錄
第一章	緒論	1
第一節	研究動機	1
第二節	紡織業鏈概況	2
第三節    本文研究架構	6
第二章 文獻回顧	8
第一節 企業廠商投資行為總論	8
第二節 投資資金融通問題	11
第三節 實證研究與結果	15
第三章 研究方法	18
第一節 實證投資方程式設定	18
第二節 縱橫資料模型估計	19
第三節 影響近年企業投資之因素衡量	21
第四章 實證估計結果	23
第一節 資料來源與敘述分析	23
第二節 基本模型估計結果	26
第三節 各解釋變數貢獻度分析	28
第五章 結論	32
參考資料…………………………………………………………………………….34
附錄：樣本公司基本資料
表目錄
表 一 資料名稱與來源	23
表 二 敘述統計	24
表 三 基本模型估計結果	28
表 四 OLS模型下延伸基本模型的估計結果	30
表 五 近三年五種解釋變數對投資比貢獻度分析	31
圖目錄
圖 一 紡織產業鏈簡介	3
圖 二 台灣紡織產業鏈簡介	5
圖 三 2008~2017年間64家紡織業公司之投資比	25

產業價值鏈資訊平台：紡織產業http://ic.tpex.org.tw/introduce.php?ic=O000
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