本篇論文主要在研究台灣銀行市場的開放程度是否會對高科技產業的上市意願產生影響。過去相關實証結果顯示兩方不同的結論。其中ㄧ方認為高度開放的市場會對廠商的設立有正面的影響。而另ㄧ方卻指出反而在高度集中銀行市場下，才會對廠商設立產生正面的影響。相對於其他產業，高科技產業其外部資金需求相對較強。高科技廠商除了可以透過直接向銀行借錢的管道外，廠商也可以透過上市的方式來募集資金。我們的實証結果指出高度開放的銀行市場，對於廠商的上市意願會有正面的影響。除此之外，高科技產業上市櫃條例的放寬和外部資金需求強度皆會對上市意願產生正面的影響。

This paper will test how competition in Taiwan banking markets affects the incentive of going public for Taiwan’s high-tech industry. There is empirical evidence in two opposing directions. One argued that bank competition is related to less entry barriers for firms. The other argued that bank concentration has positive effect on firm creation. The high-tech industry is a highly external fund needed when compared with other industries. In addition to borrowing from banks indirectly, going public can provide another way for firms to raise funds. Our empirical evidence shows that higher bank competition will increase the incentives of going public and the number of establishments for high-tech companies in Taiwan. In addition, the deregulation of laws for high-tech companies going public and the degree of external funds needed will have a positive relationship with the number of establishments for high-tech companies.

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