As a symbol of modernity or civilization, the foreign concept of a theatre house did not occur in Taiwan until the late nineteenth century. The commercial puppet theatre of the Japanese Colonial era started in temple courtyards and/or tea plantations. Some initiated a ticketing system following the example of a theatre house while others even staged their performances inside a modern theatre. It is the purpose of this study to determine if the commercial puppet theatre in post-war Taiwan had continued with certain old mechanism and developed certain theatrical characteristics. The flourishing commercial puppet theatre of post-war Taiwan was a spontaneous cultural phenomenon, not funded by any governmental cultural offices. How does it differ from the theatre accompanying the thanksgiving ritual? How did professional puppet theatre troupes merge with theatre entrepreneurs? How did they develop a self-financing management, becoming a spotlight with a huge audience, and creating a spontaneous competition among themselves? I will assume a folk artist's perspective and consider the commercial mechanism between troupes and theatres. Using the folk knowledge of ＂pa' k-hi＂ to penetrate the meanings behind the historical data of commercial theatre, I will then employ the sociological concept of Pierre Bourdieu to investigate the symbolic capital puppet theatre generated once it entered the champ of modern theatre. Most important of all, did the troupes realize that they had to make certain distinctions in strategy when they encountered a different type of champ? These are invaluable questions when we reinterpret historical data to explore the possibilities of the development of the history of the Taiwanese theatre.