本文利用分量迴歸法(Quantile Regression)，分析1998-2009年赴大陸投資上市櫃台商的規模和經營績效與其可能影響因素。研究結果發現，無論在哪一企業規模下，台商在大陸投資之子公司數目與銷售額皆呈現倒S型關係；其次，規模較大之廠商對於研發的投入在銷售額上貢獻較大；廣告密集度對於小規模企業之銷售額之正面影響程度較大。在影響投資台商赴大陸投資比例方面，影響最大的是負債比例，且為負向關係；設立營運總部對於小規模之廠商幫助較大。

This study uses Quantile Regression to investigate the size and performance of Taiwanese listed firms which had invested in Mainland China. First, the result reveals that no matter of which size of firm, it is shown an inverted-S-shaped relationship between the number of subsidiary in China and sales. Second, the larger firm size, the better R&D effect in performance, the smaller size firm size, the better advertisement effect in performance. Third, in the scale of investment in China part, it is shown that debt ratio affect the investment scale the most, and established operational headquarter can enhance the invest scale of small size firm.

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