當半導體業日漸全球化時，能否吸引外資資金的青睞，變得更加重要。本研究針對台灣半導體的IC設計產業，檢視公司與市場因素對外資持股的影響，進行研究時採用混合橫斷面與時間序列資料的迴歸模型，研究期間為2003年到2011年。實證發現公司與市場因素均會影響外資持股，而據以提出相關建議給想追隨外資腳步的本地投資者，以及想吸引外資的公司財務主管。

As the semiconductor industry grows globally, the ability to attract investments and capital from foreign institutions continues to become more competitive. This paper examines the factors including company factors and market variables which would influence the foreign investment ratio in IC design companies of the Taiwan semiconductor industry according to panel data from 2003 to 2011. The major findings of this study are that two types of variables have significant influence on foreign institution's preference for firms in Taiwan. These findings could have important decision-making implications either for local investors who want to follow a foreign institution's investment strategy, or for a firm's financial managers who want to draw a foreign institution's attention.