石滬曾經是臺灣及澎湖漁民定置捕魚最重要的一種方法。它的興築可溯及臺灣原住民海灘公用地的集體開發，在漢人集資或是獨資的私有開發時達到高峰。石滬的產權逐漸由公用財而演化為私有財。石滬的開發、組織、管理與運作等程序都涉及產權的建立，以及買賣與僱傭契約。本文以財產權與交易成本分析作為起點，說明石滬所延生的經濟活動、探討參與興築的資本結構，以及石滬之買賣契約的選擇。研究結果發現：1. 石滬興築的參與者考量興築之成本效益決定是否建造石滬。2. 在考量交易成本之下，石滬的所有人會將石滬視作不動產依契約改變其地役權以追求個人資源之最適利用，3. 石滬的規模與興築的石滬的資本結構有關，而漁民對石滬的資本結構的選擇受自己擁有資本的多寡及合資興築的石滬的交易成本等因素的影響。

We study the property rights of the Stone Tidal Weirs, set up by the people that lived near the specific shores of Taiwan and Penghu. The financial structure and production scale of the weirs are explored in the framework that their potential owners to reclaiming a Stone Tidal Weir toke the cost and benefit of building it into account. As Stone Tidal Weir were real estates, to reduce the transaction costs of managing it, its owner would exchange its easements with the persons interested in them to pursue his best interests. Furthermore, the scale of Tidal Weir is related to its ownership structure that is affected by the amount of capital its owners own, and the transaction cost of joint venture in constructing it.