一、
 

師徒功能對工作－家庭衝突影響之研究
A Study of the Influence of Mentor Function on the Work-Family Conflict 

滕慧敏
Hui-Min Teng

二、
 

期貨與選擇權跨市場避險與套利之實證研究
An Empirical Research on Hedge and Arbitration for the Cross-Market of Futures and Options

許光華、朱國仁
Kuang-Hua Hsu, Kao-Jin Chu

三、

 

社會支持、信任、關係品質與組織知識分享行為之關係研究
Relationship Among Social Support, Trust, Organizational Relationshipand Knowledge Sharing
Behaviors Based on the Perspective of Social Exchange Theory

羅淑娟、蔡佳璋
Cheng-Chen Lin, Su-Yue Shiaw
 

四、
 

外派大陸台籍經理人之領導型態研究
The Leadership Styles of Taiwanese Expatriate Managers Working in China

鄭瀛川、陳彰儀
Yen-Chuan Cheng, Chang-I Chen

五、
 

不同市場狀況會影響指數期貨的市場深度嗎?
Does Market Depth Change Under Different Market Conditions in the Index Futures Market?

闕河士、楊筑安
Horace Chueh, Ju-Ann Yang

六、

 

及時化供應鏈整合批量與運送方法模式之研究
A Study of Integrated Lot-Size and Shipment-Mode Models for JIT Supply Chains
 

黃浩良、陳新民、羅乾鐘
Hau-Lieng Huang, Hsin-Min Chen,
Chien-Chung Lo

七、

 

以風險值觀點評論現行信用交易最低擔保維持率水準－跳躍-擴散模型之應用
Comment on Required Margin for Securities Margin Trading with
VAR–Application of Jump-Diffusion Model 

洪瑞成、沈育展、邱建良、李命志
Jui-Cheng Hung, Yu-Jan Shen,
Chien-Liang Chiu, Ming-Chih Lee

八、

 

顧客關係規畫對顧客忠誠度效應影響之研究－以台灣金融業為例
The Effects of Customer Relationship Programs on Customers Loyalty
– An Empirical Study of Taiwan's Financial Institutes

張國忠、劉娜婷
Kuochung Chang, Nating Liu
 

師徒功能對工作－家庭衝突影響之研究

A STUDY OF THE INFLUENCE OF MENTOR FUNCTION ON THE WORK-FAMILY CONFLICT

滕慧敏 

致理技術學院企業管理系 

Hui-Min Teng 

Department of Business Administration Chihlee Institute of Commerce

摘要

　　由於女性大量投入就業市場，雙生涯家庭取代了傳統的家庭結構，夫妻雙方都兼具多重角色，必須分擔家務。在時間和精力有限的情況下，工作與家庭角色無法取得平衡，產生衝突在所難免。許多研究結果證實，社會支持可以有效的降低工作－家庭衝突，而同為社會支持來源的「師徒功能」卻鮮少被提出討論。本研究之目的即在探討師徒功能，價值類似度，師父支持性等與工作－家庭衡突功效如何？研究結果證實：有師父提攜者明顯可以降低家庭-->工作衡突，而大部份的受測者仍習於男師父的專業及權威，師父的角色模範功能對工作－家庭衝突的兩個構面均有顯著相關，價值類似度可降低家庭-->工作衝突，且由性別與價值類似度的交互作用中發現若女性徒弟和師父的價值類似度高，反而增加家庭-->工作衝突；師父支持性對工作－家庭衝突的兩個構面有顯著相關，而師父支持性愈高，則徒弟認知工作－家庭衝突的程度愈高。

關鍵字：師徒功能，價值類似度，師父支持性，工作－家庭衝突

ABSTRACT

　　A high amount of women entering into the job market leads to the phenomenon that responsibilities of housework and income resources have been splitted to both males and females. With limited time and energy conflicts between family and work become unavoidable. Regardless the numerous discussions on the issue, rarely has been mentioned about the social supports 'mentoring relationship'. This study focuses on the impact of mentoring function, value similarity between mentor and protege, and mentor supportiveness on the work-family conflict. 171 questionnaires were distributed to elicit the interrelationship between mentoring and family-work conflicts. Results present the general positive effects of mentoring.

Keywords: mentor relationship, value similarity, mentor supportiveness, work-family conflict, Area Characteristics, Technical Efficiency, Data Envelopment Analysis, Stochastic Statistical Frontier Approach　

回目錄

期貨與選擇權跨市場避險與套利之實證研究

AN EMPIRICAL RESEARCH ON HEDGE AND ARBITRATION FOR THE CROSS-MARKET OF FUTURES AND OPTIONS

許光華 朱國仁 

朝陽科技大學財務金融系 

Kuang-Hua Hsu Kao-Jin Chu 

Department of Finance Chaoyang University of Technology

摘要

　　Tucker（1992）等人期盼透過跨市場的操作，以尋求交易人在期貨與選擇權的有效資產配置，稱之為Put-Call Futures Parity；但是Tucker的理論係一種靜態的分析，無法確切地描述交易人在交易日內的即時操作決策問題。本研究基於跨市場中期貨與選擇權具有相同標的物、相同到期日與結算價的特性，推演出比較動態式的跨市場避險及套利操作策略，以更即時的方式剖析市場的交易現象，並探究2004年3月份台指選擇權與台指期貨之避險與套利關係。研究發現買賣權與期貨之跨市場間確實存有避險與套利機會；然而，在考量交易成本後，可套利次數隨著交易成本增加而遞減；另因操作時間落後的因素，可能降低避險與套利的效果。

關鍵字：跨市場模式、賣買權期貨平價、多重資產配置

ABSTRACT

　　The past researchers, like Tucker（1992）, anticipated to find the pricing model of multiple assets allocation for futures and options. The theory is put-call futures parity. Tucker's model is a static theory that cannot support the investor's decision but also reflect the parity of call and put in time. Based on the characteristics that the futures and options have same settlement price at the settlement day in cross markets, this research creates an appropriate hedge and arbitration models. We also examined the put-call futures parity between futures and options contracts written on Taiwan Stock Exchange Weighted Index during the period of March 2004. From the empirical evidences, we find there are potential arbitrage opportunities, but the opportunity declines with the increasing on transaction costs. The effects of hedge and arbitrage also run down as the time lag of operation.

Keywords: cross-market model, put-call futures parity, multiple assets allocation, Nonprofit organization, market orientation, organization effectiveness, CORPS model

回目錄

社會支持、信任、關係品質與組織知識分享行為之關係研究

RELATIONSHIP AMONG SOCIAL SUPPORT, TRUST, ORGANIZATIONAL RELATIONSHIP AND KNOWLEDGE SHARING BEHAVIORS BASED ON THE PERSPECTIVE OF SOCIAL EXCHANGE THEORY

羅淑娟 蔡佳璋 

台北科技大學工業工程與管理系 

Shu-chuan Lo Chia-chang Tsai 

Dept. of Industrial Engineering and Management National Taipei University of Technology

摘要

　　在本研究中我們使用消費間隔模式分析顧客間的異質性，並使用混合模型將顧客分成理想狀態、合理狀態和危險狀態。這兩種模式都是使用層級貝式的觀念，並透過馬可夫蒙地卡羅法的方法來估計所需的參數。最後，我們選擇以合理狀態的機率密度函數，運用管制圖的方式來監控顧客消費行為。管制圖通常是被企業用在產品品質的管制上，它提供一個合理的時間點去修正產品品質的偏差。本研究的管制圖包含一個顧客的消費間隔時間和最近消費時間。

關鍵字：層級貝氏、混合模式、顧客異質性、管制圖、消費者行為

ABSTRACT

　　In this paper, we follow the model of interpurchase to get the heterogeneity across customers. Then we use mixture model to segment customers into three groups as super-active, active and inactive states. Both models are solved by hierarchical Bayes via Markov Chain Monte Carlo method. At last, we employ X chart based on the density of active component to monitor consumer behavior. Control charts have been widely used in industry to control the quality of products. They provide an economical timing to launch corrective actions. The information on X chart includes interpurchase times and recency for an individual customer.

Keywords: Hierarchical Bayes, Finite Mixture Model, Heterogeneity Across Customers, Control Chart, Consumer Behavior

回目錄

外派大陸台籍經理人之領導型態研究

THE LEADERSHIP STYLES OF TAIWANESE EXPATRIATE MANAGERS WORKING IN CHINA

鄭瀛川 陳彰儀 

國立政治大學心理學系 

Yen-Chuan Cheng Chang-I Chen 

Department of Psychology National Chengchi University

摘要

　　台資企業於大陸開放外資進入後，將資金、技術等大量地轉移到大陸地區，外派大陸的經理人多背負著開疆闢地的使命前進大陸。在兩岸分隔多年後，各自形成一套社會文化，並表現在當地居民的語言、思想、行為等。台籍經理人在這跨文化的領導中，必須面對與原來截然不同之大陸部屬。對此，研究者推測其領導方式與行為可能會有所轉變，故本研究透過訪談的方式，試圖瞭解台籍經理人在大陸所展現的領導型態為何。
　　本研究期望透過台籍經理人的親身領導經驗之蒐集，以了解其領導行為。研究者採取半結構式的訪談法進行資料蒐集工作，於昆山、蘇州、深圳、東莞、廣州等地共訪談27位派駐大陸台籍經理人。隨後，根據獲得的文本資料進行類屬分析以回應本研究之問題。
根據文本資料分析的結果發現，台籍主管在大陸地區所表現的領導行為共有28個行為類別，並可歸納成「督導監控」、「強勢要求」、「樹立階級」、「反覆教化」、「尊重提攜」、「關懷如親」、「以德服人」、「力行法治」等八個概念類別。
此外，經由本研究結果與過去華人領導行為之比較，發現台籍經理人的領導行為中，的確包含了西方「生產」及「關係」導向的領導行為；此外，在與華人家長式領導的比較結果，除了發現威權（威）、仁慈（恩）、德行（德）確實是華人領導之特色外，本研究發現外派大陸經理人特別強調與重視法治的建立與力行。對此，研究者針對組織與人際互動的角度加以討論。最後，延續著此初探結果，提出幾項對未來研究之建議，以供參考。

關鍵字：領導型態、外派經理人、內容分析

ABSTRACT

　　With a great deal of Taiwan companies transferring to Mainland China, more and more Taiwanese managers have been assigned to work in China. Due to the great differences between people of China and Taiwan in language, thinking, and behavior patterns, the researchers assume that Taiwanese expatriate managers would adapt their styles of leadership to the culture of their Chinese subordinates. The purpose of this research is to find out what the leadership styles of those expatriate managers are in China and how they work.
　　The researcher interviewed 27 Taiwanese expatriate managers through semi-structured questionnaires. Their responses were analyzed by category analysis to generate the results. The final results demonstrate 28 leadership behavior categories, which can be classified into 8 constructs: supervise and monitor, demand forcefully, establish power distance, instruct repeatedly, help and guide, care dearly, show virtues, and rule by regulation.
In addition, a comparison was made between the results of this study and those of previous literatures about Chinese leadership behavior. Although the findings indicate that authority, kindness, and virtue are truly characteristic of Chinese managers, however, the Taiwanese expatriate managers also emphasize the establishment and implementation of regulations.

Keywords: Leadership style, Expatriate manager, Content analysis

回目錄

不同市場狀況會影響指數期貨的市場深度嗎?

DOES MARKET DEPTH CHANGE UNDER DIFFERENT MARKET CONDITIONS IN THE INDEX FUTURES MARKET?

闕河士　楊筑安 

高雄第一科技大學金融營運系 

Horace Chueh Ju-Ann Yang 

Department of Financial Operations National Kaohsiung First University of Science and Technology

摘要

　　 市場微結構理論主張委託單流量與價格變化間的關係，可用以衡量市場深度，並提出在不同的市場狀況下，市場深度會有不同。本研究以台灣期貨交易所的股價指數期貨契約為研究對象，利用日內高頻率交易資料為基礎，驗證市場深度是否會隨著買賣價差、價格波動性和成交量等市場狀況不同而改變。實證結果顯示，買賣價差和價格波動性對於市場深度有負向影響，而成交量對市場深度則呈現正向影響。換言之，在其他情況不變下，期貨市場的買賣價差越大、價格波動性越大或是成交量越少，則市場深度越小。

關鍵字：市場深度；委託單流量；指數期貨市場

ABSTRACT

　　Market microstructure theories assert that the relationship between order flows and price changes is the measure of market depth on financial assets. In addition, those theories predict different market conditions have impact on the market depth. This study explores the market depth under different market conditions based on the ultra-high frequency data of Taiwan index futures contracts traded on TAIFEX. The results show that bid-ask spreads and volatility have negative impact on the market depth, but positive impacts of trading volume on the market depth. That is, market depth tends to be small when bid-ask spreads are large, volatility is high, and trading volume is low.

Keywords: Market depth; Order flows; Index Futures Markets, Knowledge management system, ARIS, Knowledge structure diagram, Knowledge map

回目錄

及時化供應鏈整合批量與運送方法模式之研究

A STUDY OF INTEGRATED LOT-SIZE AND SHIPMENT-MODE MODELS FOR JIT SUPPLY CHAINS

黃浩良　陳新民　羅乾鐘 

國立聯合大學經營管理學系 

Hau-Lieng Huang　Hsin-Min Chen　Chien-Chung Lo 

National united university Department of Business Management

摘要

　　本文提出兩種買賣方合作模式用來協助及時化（Just-in-time；JIT）供應鏈管理者規劃最佳整合批量與運送方法決策。本研究考慮供應鏈單一製造商（賣方）採用JIT系統生產多項物品供應多家實施JIT採購的採購商（買方），為了達成同步化物流體系，買賣雙方必須訂定最佳的生產、採購與運送批量排程決策，使得賣方生產計畫以及買方採購與運送計畫在時間上緊密配合。本研究考慮不同運費結構與運送政策，分別建立「直接運送」與「聯合運送」模式，並以成本下限函數搜尋法求解模式。比較兩種運送模式而發現：聯合運送雖可降低買方運送成本，卻導致買賣雙方儲存成本增加。反之，直接運送可降低買賣方的儲存成本，但產生較高的運送成本。為達成整體物流成本最小化，供應鏈管理者須依據實際買賣方成本與運費折扣結構，評估儲存成本與運送成本的抵換效應，決定出最佳批量與運送方法決策。

關鍵字：供應鏈，JIT採購、JIT生產、直接運送、聯合運送、整合批量模式。

ABSTRACT

　　This paper presents two buyer-vendor coordinated models used to determine the optimal integrated lot-size and shipment-mode decisions in just-in-time （JIT） supply chains. In these two models, a single vendor with JIT manufacturing provides multiple items for several buyers who replenish inventory with JIT purchasing. To synchronize material flows in the two-echelon JIT supply chain, the lot-size and scheduling decisions that integrate production, purchasing, and delivery activities should be made through buyer-vendor collaboration. Considering the freight discount scheme and two widely used shipment policies, we formulate the direct shipment （DS） model and the joint shipment （JS） model. Then, effective searching algorithms based on the lower bound of the objective cost function are derived to solve each model. A comparison analysis between these two models indicated that the JS policy significantly reduces the delivery cost of the buyers but increases the holding cost of the vendor and the buyers due to freight consolidation. By contrast, the DS policy can decrease the buyers' holding cost while resulting in the high delivery cost. Therefore, the supply chain managers should deliberatively evaluate the trade-off effect between the holding cost and the delivery cost, which are heavily dependent on the practical freight discount scheme, so as to obtain the advantageous lot-size and shipment-mode decisions with the minimum total cost in the JIT supply chain.

Keywords: Supply chain, JIT purchasing, JIT manufacturing, Direct shipment, Joint shipment, Buyer-vendor coordination model.

回目錄

以風險值觀點評論現行信用交易最低擔保維持率水準－跳躍-擴散模型之應用

COMMENT ON REQUIRED MARGIN FOR SECURITIES MARGIN TRADING WITH VAR - APPLICATION OF JUMP-DIFFUSION MODEL

洪瑞成 

淡江大學財務金融學系 
元培科學技術學院財務金融學系 

沈育展 

台灣大學財務金融所 

邱建良 

淡江大學財務金融學系 

李命志 

淡江大學財務金融學系 

Jui-Cheng Hung 

Department of Banking & Finance Tamkang University 
Yuanpei Institute of Science and Technology 

Yu-Jan Shen 

Department of Finance National Taiwan University 

Chien-Liang Chiu 

Department of Banking & Finance Tamkang University 

Ming-Chih Lee 

Department of Banking & Finance Tamkang University

摘要

　　本文主要以風險值觀點探討國內現行的120%最低擔保維持率之適切性，能否涵蓋整戶擔保維持率向下觸及120%最低擔保維持率後，證券金融公司要求委託人於兩個營業日補足擔保品之風險。本研究首先探討台灣上市公司股價報酬率分配形態，是否具有條件異質變異與跳躍－擴散過程，結果發現包含GARCH和跳躍行為的Jump GARCH Diffusion Process（JGD）模型為一較佳股價報酬率模型。根據JGD模型實證結果發現在兩天與五天的持有期間下所計算得到的擔保維持率臨界值皆低於現行120%最低擔保維持率，表示目前的最低擔保維持率水準足以涵蓋證金公司所面對委託人的違約風險。本文以較為嚴謹的計量模型與研究方法得到較正確的報酬率分配形態，所計算得到的風險值與結論更具正確性與說服力。

關鍵字：信用交易、擔保維持率、風險值、Jump、GARCH

ABSTRACT

　　This paper examines the rational for the 120% lowest required margin on securities margin trading in Taiwan, wondering that if 120% cash positions are enough to cover the default risk of financial holding company. Firstly, this paper distinguishes JGD to be the model, which has better capability to fit the distribution of returns. Next, we apply JGD model for VaR calculation and then transfer VaR into the critical value of required margin. The empirical results show that 120% cash position holding can cover the default risk of financial holding company very well by using correct econometric method.

Keywords: Margin Trading、Required Margin、VaR、Jump、GARCH

回目錄

顧客關係規畫對顧客忠誠度效應影響之研究－以台灣金融業為例

THE EFFECTS OF CUSTOMER RELATIONSHIP PROGRAMS ON CUSTOMERS LOYALTY－AN EMPIRICAL STUDY OF TAIWAN'S FINANCIAL INSTITUTES

張國忠 

東華大學國際企業學系暨研究所 

劉娜婷 

交通大學經營管理研究所 

Kuochung Chang 

Institute of International Business National Dong Hwa University 

Nating Liu 

Institute of Business and management National Chiao Tung University

摘要

　　資訊科技的發展使得企業可以迅速掌握顧客資訊、瞭解顧客需求並為顧客創造價值。顧客關係管理之關係規畫透過作業流程改善、通路整合、員工權能提昇，及快速與彈性應變、顧客區隔、價值分析與客製化服務等功能，留住舊有顧客、吸引潛在顧客並提昇顧客價值。本研究經文獻探討與訪談後，將關係規畫功能區分為流程與通路功能及客製化二功能，探討其對關係承諾與顧客忠誠度的影響。透過問卷調查蒐集金融業顧客意見，利用線性結構方程模式進行資料分析。研究結果發現，客製化功能比流程與通路功能對顧客忠誠度有較顯著的影響；情感性承諾為客製化功能與顧客忠誠度之間的中介變項。透過情感性承諾的建立，實施關係規畫對於顧客忠誠度方具有影響力。

關鍵字：顧客關係管理；關係規畫；情感性承諾；利益性承諾；顧客忠誠度

ABSTRACT

　　Due to advances in information and communication technology, the promise of one-to-one relationship, customer-value analysis and customization are now possible. Through incorporating process improvement, channel management, elastic response, and tailored service, customer relationship programs are able to acquire new customers, retain existing ones, and create their lifetime value. Through literature review and the interview, this study categorized the relationship programs of customer relationship management as process & channel functions and customization functions, and investigated their effects on customer loyalty through the affective and calculative commitments. The data were collected by using questionnaires from customers of financial services and analyzed using Structural Equation Modeling (SEM). The results indicated that customization functions had stronger effects on customer loyalty than process & channel functions. Calculative commitment was also found failing to create customer loyalty. Affective commitment was empirically confirmed to be the mediating variable between customization functions and customer loyalty.

Keywords: Customer relationship management, Relationship programs, Affective commitment, Calculative commitment, Customer loyalty

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