台灣租賃業的國際化策略研究—以中租控股為例

Abstract

租賃業在台灣一直被視為金融周邊產業，在發展上多半以提供中小企業於銀行外的資金融通選項，所以一般而言多將租賃業發展視為金融附屬產業而不以獨立產業發展作為研討。 中租控股為1977年成立的本土租賃公司，在經過了台灣經濟起飛以及台商赴中國大陸設廠投資、台商赴東南亞設廠等商業模式變革與遷徙活動而將商業運營跟著台商腳步踏上國際化，而過程中所經歷的的數次國際金融危機更是促使中租控股轉型以及商業模式優化的重要因素。 本論文以五力分析來解析台灣租賃業所面臨的外在與內在環境，歸納出租賃業發展所面臨的挑戰，並由中租控股的年報、法說會資訊以及各項資料分析找出中租控股的關鍵成功因素包括資產負債配置策略、多角化的業務發展策略、嚴謹的風險控管機制、複合式多角化國際佈局、企業總部定位、國際化控股架構與國際化執行策略等。 研究結果將中租控股各項關鍵成功因素做出歸納作為其他公司經營的借鏡，同時也以SWOT分析中租控股的各項競爭優劣勢與環境因素並且對於中租控股的未來發展提出建議。

Taiwanese leasing business has grown substantially since the past decade, though it has been viewed as a subordinate funding source for small and medium enterprises in Taiwan for years. This thesis is aimed to study the globalization strategy of Taiwan Leasing Companies with a focus on Chailease Holding. Chailease holding is a Taiwanese leasing company founded in 1977 and has been listed on the TWSE since 2011. In the past decade, the company expanded its business operations from Taiwan to China and ASEAN countries, following the footprint of many Taiwanese companies. It has achieved substantial growth in asset value and profit growth over the years. Using Porter Five Forces analysis, we identify and analyze the five competitive forces that shape leasing industry as well as the strengths and weaknesses of the leasing industry. We then analyze the globalization strategies of Chailease holding and identify its key success factors in terms of asset liability management, global diversification strategy, credit risk analysis and headquarter functions. It is recommended that these key success factors may serve as guidelines for Taiwanese companies which seek to pursue long-term success in the leasing industry.