Research on Risk Financingfor Taiwanese Semi-Conductor Industry

• Main Authors: Pei-Chun Hsu, 徐佩君
• Other Authors: Frank k. Ling
• Format: Others
• Language: zh-TW
• Published: 2004
• Online Access: http://ndltd.ncl.edu.tw/handle/34465961545280395748

碩士 === 國立高雄第一科技大學 === 風險管理與保險所 === 92 === The high-value and risk-accumulated semi-conductor industry in Taiwan is faced with the capacity shortage from traditional insurance coverage due to the high frequency and severity of national and international catastrophes over the past few years. This paper discusses the possible risk financing strategies that could be applied by the semi-conductor companies based on various risks exposed to them, and explores the enterprises’ awareness of Alternative Risk Transfer (ART) and their aspect on the future development of ART. Samples of this research were semi-conductor companies in Hsin-Chu and Tainan Science-based Parks. Survey was conducted by giving questionnaire which focused on their current risk financing operation and the future development. Data was then processed and analyzed by Descriptive Statistics, Spearman Rank Correlation, and Kruskal-Wallis Test. The results show that: semi-conductor industry in Taiwan is quite aware of the source of various risks in general, and insurance purchase is still the main approach for risks transfer. Enterprises however retain those risks of so-called lower-awareness or risks that are unable to be covered by insurance. It is also found that companies with different capital levels have different aspects on insured amount, deductible, and the effect from insufficient underwriting capacity. Enterprises are willing to apply ART to compensate the capacity shortage from traditional insurance, but the problem is they are not familiar with the ART exercise at this moment, most of them will take a more conservative attitude to deal with ART arrangement in the future. Taking theory and research results into consideration, this paper suggests an integration financing plan for semi-conductor industry. On top of traditional insurance arrangement, insureds can apply other alternatives of risks transfer such as self-insurance, captive insurance companies , insurance risk securities to tailor-make their own risk financing program in order to cope with the demand for future development, ensure and secure their business at the same time. Semi-Conductor Industry