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題名 國際貿易下之非信用狀交易實務與風險規避:從台灣出口廠商之角度探討
International trade practice and risk aversion of Non-LC trading from the perspective of Taiwanese exporters
作者 王威凱
Wang, Kevin
貢獻者 吳文傑
Wu, Jack
王威凱
Wang, Kevin
關鍵詞 國際貿易實務
非信用狀交易
風險規避
台灣出口廠商
International Trade Practice
Risk Aversion
Non-LC Trading
Taiwanese Exporters
日期 2010
上傳時間 17-Apr-2012 09:13:21 (UTC+8)
摘要 Taiwan, an island with outstanding economic miracle, has deeply depended on international trades to increase economic growth and national wealth. There are many successful companies, including listed enterprises and SME, manufacturing and marketing Made-in-Taiwan products all over the world through international trade and commerce. Therefore, undoubtedly the power international trade is one of our strength and plays a key role on stimulating economy as well as elevating the living standard of people. .

To compete with other international exporters, Taiwanese exporters must provide not only products with good quality and reasonable price, but also offer competitive payment terms to further strive for new clients and strengthen individual competitiveness. This is a recent trend of International Trade. From the risk-free payment term, such as- T/T Advance to O/A 90 days after shipment, Taiwanese exporters suffered both political risk and credit risk. Not to mention cash flow risk and exchange rate risk that normally appears during transaction.

Remembered financial crisis in 2007, market failed and malfunctioned at that time. As for corporate side, individual companies faced difficulties of continuously operation. Some even seriously went bankruptcy during that time. In this circumstance, Taiwanese exporters, even successfully won the orders, could not receive the payment on time from foreign buyers. Some of them may even suffered huge loss because of intentional disputes or buyer’s closedown. Therefore, it goes without saying that risk aversion is becoming an important issue for Taiwanese companies to survive.

There would be three major financial tools being introduced for risk aversion with three case studies. Each of them has its special features and functions by different needs. How and why does Taiwanese exporter choose and leverage for risk aversion will be explained and discussed. The purpose of this paper is to find out the solutions for Taiwanese exporters to reduce risk of international trade as well as increase competitiveness in the foreign trade and grow the economy as contribution in the long run.
參考文獻 ◎ Huang, D.B. (2004), The Trap and Risk Aversion of L/C Trade. GreatBooks Co. Ltd.
◎ Huang, D.B. (2006), The Practice and Risk Aversion of Non L/C: T/T.O/A.D/A.D/P. GreatBooks Co. Ltd.
◎ Tsai, M.J. (2007), Case Studies of Trade Business. Importers and Exporters Association of Taipei.
◎ George L. Evans, Jr., Vice President (2008), The Five P`s of Credit Analysis, Hampden Bank
◎ Baxter,M.,Kouparitsas, M.A.(2000) What Causes Fluctuations in the Terms of Trade?, NBER Working Paper7462
◎ Harberler,G.,A (1955) Survey of International Trade Theory, Princeton: International Finance Section
◎ Chul Chun (2007), Technological Progress, term of trade, and monopolistic competition, international Economic journal
◎ UNCTAD,Trade and Development Report,2002,2005
◎ COFACE (1990), A Guide to Coface’s Facilities, Paris.
◎ 2010 Annual Report of The Export-Import Bank of the Republic of China
◎ 2009 Annual Report of The Export-Import Bank of the Republic of China
◎ 2008 Annual Report of The Export-Import Bank of the Republic of China
◎ 黃頌斌 編著,託收方式(D/P、D/A)輸出綜合保險與我國出口貿易關係之研究,全錄出版業有限公司,民國80年7月。
◎ 張錦源 編著,國際貿易實務詳論,三民書局股份有限公司,民國99年2月。
◎ 余森林 編著,國際貿易實務,大中國圖書公司,民國94年8月
描述 碩士
國立政治大學
國際經營管理英語碩士學位學程(IMBA)
98933020
99
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0098933020
資料類型 thesis
dc.contributor.advisor 吳文傑zh_TW
dc.contributor.advisor Wu, Jacken_US
dc.contributor.author (Authors) 王威凱zh_TW
dc.contributor.author (Authors) Wang, Kevinen_US
dc.creator (作者) 王威凱zh_TW
dc.creator (作者) Wang, Kevinen_US
dc.date (日期) 2010en_US
dc.date.accessioned 17-Apr-2012 09:13:21 (UTC+8)-
dc.date.available 17-Apr-2012 09:13:21 (UTC+8)-
dc.date.issued (上傳時間) 17-Apr-2012 09:13:21 (UTC+8)-
dc.identifier (Other Identifiers) G0098933020en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/52756-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 國際經營管理英語碩士學位學程(IMBA)zh_TW
dc.description (描述) 98933020zh_TW
dc.description (描述) 99zh_TW
dc.description.abstract (摘要) Taiwan, an island with outstanding economic miracle, has deeply depended on international trades to increase economic growth and national wealth. There are many successful companies, including listed enterprises and SME, manufacturing and marketing Made-in-Taiwan products all over the world through international trade and commerce. Therefore, undoubtedly the power international trade is one of our strength and plays a key role on stimulating economy as well as elevating the living standard of people. .

To compete with other international exporters, Taiwanese exporters must provide not only products with good quality and reasonable price, but also offer competitive payment terms to further strive for new clients and strengthen individual competitiveness. This is a recent trend of International Trade. From the risk-free payment term, such as- T/T Advance to O/A 90 days after shipment, Taiwanese exporters suffered both political risk and credit risk. Not to mention cash flow risk and exchange rate risk that normally appears during transaction.

Remembered financial crisis in 2007, market failed and malfunctioned at that time. As for corporate side, individual companies faced difficulties of continuously operation. Some even seriously went bankruptcy during that time. In this circumstance, Taiwanese exporters, even successfully won the orders, could not receive the payment on time from foreign buyers. Some of them may even suffered huge loss because of intentional disputes or buyer’s closedown. Therefore, it goes without saying that risk aversion is becoming an important issue for Taiwanese companies to survive.

There would be three major financial tools being introduced for risk aversion with three case studies. Each of them has its special features and functions by different needs. How and why does Taiwanese exporter choose and leverage for risk aversion will be explained and discussed. The purpose of this paper is to find out the solutions for Taiwanese exporters to reduce risk of international trade as well as increase competitiveness in the foreign trade and grow the economy as contribution in the long run.
en_US
dc.description.tableofcontents Abstract ii
Acknowledgements iv
TABLE OF CONTENTS vi
List of Figures and Tables viii
1. Introduction 1
2. Recent Trend and Modes of Non-LC Payment Terms 7
2.1. Recent Trend of International Trade 7
2.2. Modes of Non-LC Payment Terms-D/P 11
2.3. Modes of Non-LC Payment Terms-D/A 15
2.4. Modes of Non-LC Payment Terms-O/A 17
2.5. Major Risks Involved in International Trade 20
2.5.1. Trading Risk 21
2.5.2. Cash Flow Risk 22
2.5.3. Exchange Rate Risk 23
3. Financial Tools for Risk Aversion 24
3.1. Export Insurance 24
3.1.1. Export Credit 28
3.2. International Factoring Service 30
3.2.1. The Function of International Factoring 31
3.2.2. The Operation of International Factoring for O/A Term 32
3.3. Stand-by Letter of Credit 35
3.3.1. Four Major Features of Stand-by LC 35
3.3.2. The Major Types of Stand-by LC 37
3.3.3. The Attitude of Issuing Banks for Stand-by LC 38
3.4. The Comparison among Financial Tools 39
4. Case Study: How Does These Financial Tools Benefit Taiwanese Exporters? 45
4.1. Case Study 1: TronicPower Technology Corporation 45
4.1.1. The Application of Payment Term & Export Insurance 47
4.1.2. What does Export Insurance Benefits TronicPower? 48
4.2. Case Study 2: Taiwan Calcom Graphic Co. Ltd. 49
4.2.1. The Application of Payment Term & International Factoring Services 51
4.2.2. What does International Factoring Services Benefits TCGC? 52
4.3. Case Study 3: Miracle Medicare Corporation 53
4.3.1. The Application of Payment Term & Stand-by LC 55
4.3.2. What does Stand-by LC Benefits MMC? 56
5. Conclusion 58
Bibliography 61
zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0098933020en_US
dc.subject (關鍵詞) 國際貿易實務zh_TW
dc.subject (關鍵詞) 非信用狀交易zh_TW
dc.subject (關鍵詞) 風險規避zh_TW
dc.subject (關鍵詞) 台灣出口廠商zh_TW
dc.subject (關鍵詞) International Trade Practiceen_US
dc.subject (關鍵詞) Risk Aversionen_US
dc.subject (關鍵詞) Non-LC Tradingen_US
dc.subject (關鍵詞) Taiwanese Exportersen_US
dc.title (題名) 國際貿易下之非信用狀交易實務與風險規避:從台灣出口廠商之角度探討zh_TW
dc.title (題名) International trade practice and risk aversion of Non-LC trading from the perspective of Taiwanese exportersen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) ◎ Huang, D.B. (2004), The Trap and Risk Aversion of L/C Trade. GreatBooks Co. Ltd.zh_TW
dc.relation.reference (參考文獻) ◎ Huang, D.B. (2006), The Practice and Risk Aversion of Non L/C: T/T.O/A.D/A.D/P. GreatBooks Co. Ltd.zh_TW
dc.relation.reference (參考文獻) ◎ Tsai, M.J. (2007), Case Studies of Trade Business. Importers and Exporters Association of Taipei.zh_TW
dc.relation.reference (參考文獻) ◎ George L. Evans, Jr., Vice President (2008), The Five P`s of Credit Analysis, Hampden Bankzh_TW
dc.relation.reference (參考文獻) ◎ Baxter,M.,Kouparitsas, M.A.(2000) What Causes Fluctuations in the Terms of Trade?, NBER Working Paper7462zh_TW
dc.relation.reference (參考文獻) ◎ Harberler,G.,A (1955) Survey of International Trade Theory, Princeton: International Finance Sectionzh_TW
dc.relation.reference (參考文獻) ◎ Chul Chun (2007), Technological Progress, term of trade, and monopolistic competition, international Economic journalzh_TW
dc.relation.reference (參考文獻) ◎ UNCTAD,Trade and Development Report,2002,2005zh_TW
dc.relation.reference (參考文獻) ◎ COFACE (1990), A Guide to Coface’s Facilities, Paris.zh_TW
dc.relation.reference (參考文獻) ◎ 2010 Annual Report of The Export-Import Bank of the Republic of Chinazh_TW
dc.relation.reference (參考文獻) ◎ 2009 Annual Report of The Export-Import Bank of the Republic of Chinazh_TW
dc.relation.reference (參考文獻) ◎ 2008 Annual Report of The Export-Import Bank of the Republic of Chinazh_TW
dc.relation.reference (參考文獻) ◎ 黃頌斌 編著,託收方式(D/P、D/A)輸出綜合保險與我國出口貿易關係之研究,全錄出版業有限公司,民國80年7月。zh_TW
dc.relation.reference (參考文獻) ◎ 張錦源 編著,國際貿易實務詳論,三民書局股份有限公司,民國99年2月。zh_TW
dc.relation.reference (參考文獻) ◎ 余森林 編著,國際貿易實務,大中國圖書公司,民國94年8月zh_TW