在臺資企業投資中國大陸市場逐漸深化的過程當中，隨著資源承諾與所有權控制程度的日益增加，必然伴隨相對程度的投資風險，因此，在制訂對中國大陸市場進入策略的決策過程當中，更加突顯出決定投資之所有權結構的重要性。本研究乃是從「臺灣經濟新報資料庫」中所提供之268家經由在第三國設置控股公司方式實際在中國大陸進行間接投資之臺灣上市上櫃公司為研究母體，並運用其次級資料進行研究。經扣除資料不全之公司共59家後，剩下209家企業，其中150家執行單一所有權控制政策，59家執行多重所有權控制政策。本研究的重點就在於希望能藉由找出影響制訂所有權結構的相關因素，從而建立對中國大陸市場投資最適之所有權進入模式。研究結果顯示：臺灣產業若愈是傾向技術層次較高之產業，則其投資中國大陸所採行之所有權型態愈傾向採取高股權控制方式；臺資企業對大陸投資之經驗愈多愈傾向獨資操作，且愈適合採取多重所有權控制政策，經驗愈少愈傾向合資操作；而採合資模式之企業當中，則以採多數股權政策者最不具投資範疇與投資企業之經驗，這實說明了採多數股權政策者為何多在認知距離小（如沿海或經濟特區）的地區進行投資，也由於多數股權政策者多在認知距離小的地區進行投資，因而在績效表現方面也最佳。

As far as the in-deep investment processes of Taiwanese enterprises in China are concerned, the more the resource commitments and the degree of ownership control, the higher the investment risk become realized. As a result, to identify entry mode strategies, firms should choose suitable ownership structures that based on their strength and weakness. The data used in this study is taken from 「TAIWAN ECONOMIC JOURNAL DATA BANK」. The firm-level database (including Listed firms and OTC firms) gathered in a 1998 survey is used in this study. We gathered 268 companies that invested in China by establishing foreign holding company. Lack of some information reduced our data size to 209 observations, of which 150 that implement single ownership control policy, and 59 implement composite ownership control policy. This study focuses on the construction of ownership-based entry model of Taiwanese enterprises in China by using logit model and discriminant analysis, the research results are as follows: 1. The higher the technology-intensive orientations of the industry nature of Taiwanese enterprises, the more tendencies will the Taiwanese enterprises investing in China adopt high-ownership control strategy. 2. The more the investment experiences of Taiwanese enterprises in China, the more tendencies will the Taiwanese enterprises investing in China adopt full-ownership control strategy or composite ownership controlled policies, and vice verse. 3. The Taiwanese enterprises enterprises with less investment experience tended to adopt majority ownership policy in China. These results explained why most of these Taiwanese enterprises established their affiliates near by the developed areas. In addition, the more the likelihood that the investors established their production bases in the developed areas, the better will be the EPS of affiliates contributed to their parents. Furthermore, Taiwanese enterprises invested in China that adopted majority ownership policy tended to have the best performance.