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董事身份特性與企業風險管理對企業避稅之影響

THE EFFECTS OF BOARD MEMBER CHARACTERISTICS IDENTITY & ENTERPRISE RISK MANAGEMENT ON CORPORATE TAX AGGRESSIVENESS

魏妤珊

國立雲林科技大學會計系助理教授

廖俊煌

福州外語外貿學院財會系副教授

黃法蓉

國立雲林科技大學會計系碩士生

Yu-Shan Wei

Assistant Professor, Department of Accounting,

National Yunlin University of Science and Technology

Chun-Huang Liao

Associate Professor, Department of Finance and Accounting,

Fuzhou University of International Studies and Trade

Fa-Rong Huang

Master, Department of Accounting,

National Yunlin University of Science and Technology

摘要

　　本文主要目的在於探討董事身份特性、企業風險管理與企業避稅之間的關係，並且進一步瞭解法人董事比與企業風險管理間的交互作用對避稅產生的調節效果。本研究以2007至2012年上市櫃公司為研究對象，實證結果發現企業在建立有效的企業風險管理和獨立董事比例較高的情況下，可以降低企業避稅行為。此外，法人董監事在企業風險管理的有效監控下，對於企業避稅能夠發揮抑制的效果。

關鍵字：避稅、企業風險管理、有效稅率、董事會效能

ABSTRACT

　　This study investigates the relationship between board member characteristics, enterprise risk management, and enterprise tax aggressiveness as well as how the ratio of legal entity directors and enterprise risk management interact to moderate tax avoidance. This study investigates investigated Taiwan listed companies over the 2007-2012 period; the results show that effective enterprise risk management and a higher ratio of independent board members can reduce enterprise tax avoidance. In addition, effective monitoring of enterprise risk management by legal entity directors can also suppress corporate tax aggressiveness.

Keywords: Tax Aggressiveness, Enterprise Risk Management, Effective Tax Rate, Board Effectiveness

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技職大學管理實習績效評估之研究

A STUDY ON PERFORMANCE EVALUATION FOR MANAGEMENT INTERNSHIP IN TAIWAN’S TECHNICAL AND VOCATIONAL UNIVERSITY

李啓誠

正修科技大學企業管理系副教授

Chi-Cheng Lee

Associate Professor, Department of Business Administration,

Cheng Shiu University

摘要

　　管理實務比校園內學習的理論更為複雜，因而管理教育必須兼顧理論與實務。為讓管理教育能夠務實致用，校外實習已是管理教育中重要且必要活動。本研究旨在探討管理實習生之實習成效，在由207名企業督導對管理科系實習生進行評量下，除建立一具有信度及效度之實習績效衡量指標外；研究結果也發現，管理實習生於人際關係、專業行為及績效面等表現良好，而表現較低分為「商業常識」及「專業知識」。這結果指出管理科系學生的弱勢與努力議題；也有關於多數實習在零售服務業、從事門市銷售與門市服務工作，工作性質偏向重複例行性之管理「作業」層級，較無領導、組織及規劃等管理功能的體驗與學習。文中最後就研究結果提出建議，以為管理教育在課程規劃與實習之參考。

關鍵字：校外實習、企業管理、績效評估

ABSTRACT

　　Management practice and work is far more complicated than school learning, so management education has to include workplace practice, i.e., internships. To make management education to learn and consistent application, internships, therefore, is an important and necessary activities. The major focus of this study is on evaluation of internship performance of management interns. Through 207 company supervisors as the samples to evaluate, in addition to having established a measure of performance with good reliability and validity for internship performance, the study also found that company supervisors rated their interns better in interpersonal relationship, professional conduct and performance, but poorer in “general commercial knowledge,” “knowledge related to the major.” It concluded that the weaknesses and teaching issues for management department; also on the majority of internships in store sales and services, those jobs are repeated and routine, tend to “operational” level management, the relatively experience and learn without leadership, organizing and planning and other management functions. The paper concludes with recommendations on the findings, that the reference to curriculum planning and internship of management education.

Keywords: Internship, Business Administration, Performance Evaluation

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營收動能生命週期

SALES MOMENTUM LIFE CYCLE

顧廣平

淡江大學財務金融學系副教授

Kuang-Ping Ku

Associate Professor, Department of Banking and Finance,

Tamkang University

摘要

　　針對台灣股市，本研究探討營收動能與營收市價比對預測未來報酬的交互作用。結果顯示營收市價比能預測營收動能的數量與持續性，特別是高（低）營收市價比贏家（輸家）經歷較長的價格延續，以及低（高）營收市價比贏家（輸家）經歷較快的價格反轉。進而，本研究建立營收動能生命週期假說彙整結果，以及營收市價比可辨識股票處於生命週期哪一個階段。綜言之，本研究顯示營收市價比對「動能」和「價格」策略之間，或「反應不足」和「過度反應」效應之間提供一個重要的連結。

關鍵字：營收動能、營收市價比、反應不足、過度反應、動能生命週期

ABSTRACT

　　This study examines the interaction between sales momentum and sales-to-price in predicting future returns in the Taiwan stock market. The results show that sales-to-price predicts both the magnitude and the persistence of sales momentum. Specifically, high (low) sales-to-price winners (losers) experience longer price continuations, and low (high) sales-to-price winners (losers) experience faster price reversals. Furthermore, this study constructs the sales momentum life cycle hypothesis to summarize my results, and sale-to-price can identify where a stock is in this cycle. Collectively, this study shows that sales-to-price provides an important link between “momentum” and “value” strategies, or between “underreaction” and “overreaction” effects.

Keywords: Sales Momentum, Sales-to-Price, Underreaction, Overreaction, Momentum Life Cycle

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探討低碳新市鎮佈置之規劃問題

PLANNING ARRANGEMENT OF A LOW-CARBON NEW TOWN

黃志剛

國立雲林科技大學工業工程與管理系教授

吳明蔓

國立雲林科技大學工業工程與管理系碩士班研究生

Chikong Huang

Professor, Department of Industrial Engineering and Management,

National Yunlin University of Science and Technology

Ming-Man Wu

Graduate Student, Department of Industrial Engineering and Management,

National Yunlin University of Science and Technology

摘要

　　氣候變遷是近年來社會關注的重要議題，其中影響最劇烈的即是溫室效應，因此全球各地都積極推行低碳活動，而有效的城市佈置將可減少總運輸距離，進一步減少二氧化碳排放量，達到低碳低汙染的城市，此即為本研究之主要動機。本研究針對高雄市－新市鎮進行佈置與分析，以區塊分割的概念下，探討如何規劃新市鎮建築密度問題、土地使用類別的區位選擇與交通流量規劃，首先建構以汙染成本為核心的數學模型。研究考量兩項都市規劃所造成碳排放之汙染成本，而汙染來源分別為：(1)建築物建材生產與營建、(2)交通行駛路徑，以總汙染成本最小化為目標。經驗證數學模式後，再開發適合本研究之模擬退火演算法進行建築密度及區塊佈置改善，求解每一土地使用類型區塊內之建築數量，及各土地使用類型之最佳位置，後續再以敏感度分析探討包含：建築密度變化對於住宅人口數的影響及安全距離變化對於總汙染成本的影響。實驗結果顯示，在建築密度臨界值（含）或以上，可確保可容納人口數高於計畫人口數，在安全距離設定上，本研究假設距離確實較佳。最終達到幫助城市規劃者透過系統化分析，以提高規劃的工作效率並改善規劃品質。

關鍵字：建築密度、城市佈置、碳排放成本

ABSTRACT

　　In the recent years, climate change is one of the important issues, especially on the effects of greenhouse. Countries around the world are actively promoting a low-carbon urban layout by reducing the overall transportation distance and reducing carbon dioxide emissions. This research develops a mathematical model using block-category concept to solve a layout problem for the new town in Kaohsiung city area. The objective of the grid-type layout is to minimize the pollution cost which comes from traffic flow and building density. In addition, the pollution of traffic flow is considered by flow volume and moving distance between blocks. The pollution of building density is focused on production of building materials and construction of a building. A solution algorithm of the model is then developed by using the simulated annealing logic after a verification process. A near-optimal layout can be represented by a set of block arrangement for all categories and the building density for each block. A sensitivity analysis is conducted by considering the relationship between building density and population, the relationship between safety distance and pollution cost. Results of sensitivity analysis show that: (1) the pre-defined building density fits the population required, (2) a better safety distance can be found.

Keywords: Building Density, Urban Layout, Cost of Carbon Dioxide Emission

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