本文探討2019年所實施台商回流方案對申請企業之稅賦、貸款條件、資產配置、以及營運績效的影響。相較於其他企業，申請企業於方案施行後擁有較低的稅賦及資金成本，促使其提升長期負債使用比例以及固定資產比例。因資金成本降低與資本支出增加同時對獲利能力產生影響，申請企業並未於方案施行後明顯增進營運績效。本文進一步探討歡迎台商回流方案對地方經濟的影響，顯示工業用地供應縣市於方案施行後提高最多0.85%的就業率。整體而言，該方案有益於申請企業降低資金成本並促進地方經濟的投資。

This study examines the effects of “Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan” (Welcome Back Action Plan) on applier’s capital cost, capital distribution, and operating performance. The results show that appliers afford fewer taxes and lower loan costs after the plan was passed in 2019. Appliers increase the proportion of fixed assets rather than those of operating capital after the fund injection. The increase in capital investment does not significantly improve applier’s firm performance by 2020 but benefits the local economy by enhancing the employment rate of land suppliers. Overall, salmon comes back with benefits to the local economy.