海外投資被視為廠商參與國際化的最後一個階段，過去探討海外投資的相關文獻，大多探討影響海外投資動機的因素為何，並且可將其影響因素或是探討對象，區分成國家、產業及公司的三個層級。台商至大陸設廠，早已是高科技廠商取得生產效率的佈局之一。中國對於台灣TFT-LCD產業的廠商而言，具有尋求當地資源及生產效率的投資動機。
本文欲從公司層級，探討影響廠商海外投資規模的影響因素為何。以TFT-LCD廠商之製造商做為主要的探討對象，並從另一種角度，從母公司在出口績效上的表現來審視TFT-LCD製造商，在海外投資規模的策略意涵。研究方法為以EViews 軟體，進行多元迴歸的分析實證。研究範圍為上市櫃中液晶顯示器製造商13家製造商2003年1月到2005年12月的各家廠商財報所提之季資料。
結果顯示，台灣液晶製造商，對於大陸的投資，為一種母公司的垂直海外投資，主要利用當地生產要素的佈局，追求中國當地的區位優勢。母公司的出口，與台灣液晶製造商對於大陸投資的規模，為一種互補的正向關係。但國內的投資與大陸的投資則為一種替代的情形。台商的科技能力與管理能力，對於海外投資規模或出口績效並沒有顯著的影響。

The strategic movement of Taiwanese high technology firms to China has been developing for several years. TFT-LCD manufactures are motivated to invest in China for both resource-seeking and efficiency-seeking reasons. In the past, foreign direct investment was seen as the final stage of internationalization. Previous literature focused primarily on individual aspects of foreign direct investment. Many of them discussed the motivating forces behind foreign investment, and the factors that attract multinational companies to invest in specific countries.
Country attractiveness, industry differences and firm specific characteristics could all be factors influencing foreign direct investment. This article studies the determinants of foreign direct investment scale and export based performance at the firm level. This study employs multiple regression to analyze quarterly data of 13 TFT-LCD manufacturers from 2003-2005.
The results indicate that those manufacturers who invested in China through vertical foreign direct investment utilize lower production cost and seek location specific advantages. Foreign productions and exports of parent companies are complementary. However, scaled back operations in their home country in order to expand abroad. The technological competence and management competency did not demonstrate a significant relationship with the firms’ export performance.

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三、網站
1.台經院網頁: http://tie.tier.org.tw/tie/index.jsp
2.國貿局網站: http://www.trade.gov.tw/
3.經濟部網站: http://www.moea.gov.tw/
4.Display Search: http://www.displaysearch.com
5.電子時報網站: http://www.digitimes.com.tw/
6.資策會網站: http://mic.iii.org.tw
7.PIDA財團法人光電工業科技協進會:http://www.pida.org.tw