本研究針對IC載板產業在面對「有關稅」與「無關稅」政策情境下，海外投資策略構面排序與決策邏輯之變化進行實證分析，並以U公司赴泰設廠為個案進行深入探討。研究結合質性訪談法，針對企業內部決策者、產業分析師與技術供應鏈代表等八位關鍵角色，探究其在不同政策情境下的策略排序差異。 研究結果顯示，在無關稅環境中，企業重視市場因素與風險控制，以確保交期效率與制度穩定性；而在有關稅環境下，成本因素與政策誘因排序顯著上升，企業須優先因應關稅壓力與尋求投資抵免與FTA稅務避險條件。此外，不同角色觀點亦影響排序權重：高階管理層重視財務回報與佈局彈性，分析師關注制度穩定與法規透明，技術端則強調量產條件與支援能力。 本研究建構「五大構面 × 政策情境 × 角色排序」之分析架構，並提出「策略構面動態排序模型」，可作為高科技製造業面對全球貿易政策變遷時，進行海外設點與供應鏈重構之決策參考依據。對政策制定者而言，亦提供強化FTA協議、建構區域投資誘因與提升制度穩定性之實證基礎。 ;This study investigates how the overseas investment strategies of the IC substrate industry shift under different policy scenarios—specifically, the presence or absence of tariffs. Using U Company’s investment in Thailand as a case study, the research applies qualitative methodology, incorporating in-depth interviews with eight key stakeholders from strategic, technical, and analytical roles. Findings indicate that under a tariff-free scenario, companies prioritize market proximity and risk mitigation, focusing on delivery efficiency and regulatory stability. In contrast, under a tariff-imposed environment, cost control and policy incentives become dominant factors, as firms seek to minimize tariff impacts and leverage benefits such as FTAs and investment subsidies. Strategic priorities differ by role: executives emphasize financial returns and deployment flexibility, analysts highlight institutional predictability, and technical leaders focus on manufacturability and operational readiness. This study introduces a "Five Factors × Policy Scenarios × Role-Based Priorities" framework and develops a Dynamic Strategic Prioritization Model to guide high-tech manufacturers in navigating global trade uncertainty. For policymakers, the research offers practical insights into strengthening trade agreements, designing regional investment incentives, and fostering regulatory reliability to support industrial competitiveness.
