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資訊透明度與企業風險之間的關聯性

BETWEEN INFORMATION TRANSPARENCY AND ENTERPRISE RISK

游輝城

中山大學南方學院會計學系助理教授

吳怡慧

實踐大學會計暨稅務學系講師

國立高雄第一科技大學財務金融學院博士班

Hui-Cheng Yu

Assistant Professor, Department of Accounting Nanfang,

College of Sun Yet-sen University

I-Hui Wu

Lecturer, Department of Accounting and Taxation,

Shih Chien University

Ph. D. Student, Graduate Institute of College of Finance and Banking,

National Kaohsiung First University of Science and Technology

摘要

　　本研究之主要目的在探討資訊透明度與企業風險之影響。本研究推論因資訊透明度會影響企業風險。本研究以2011及2012年間臺灣上市（櫃）公司作為研究對象，共計2,105筆觀察值。在資訊透明度上，本研究採用臺灣證基會所建置的「資訊揭露評鑑系統」所評鑑之結果作為本研究之資訊透明度變數。實證研究結果顯示，資訊透明度與企業風險呈現負向之關聯性。本研究更進一步將企業風險區分成營運風險和財務風險，再分別檢視資訊透明度與營運風險和財務風險之間的關聯性。其結果顯示出資訊透明度與營運風險呈現顯著負向之關聯性。但與財務風險卻呈現負向不顯著。這樣的結果說明了資訊透明度與營運風險之間的關聯性優於財務風險。

關鍵字：資訊透明度、企業風險、營運風險、財務風險

ABSTRACT

　　This study examines the effect of information transparency (IT) on the enterprise risk (ER). The firms, listed on TSE and OTC during 2011~2012 are as sample firms. The final sample of this study consists of 2,105 observations. Information transparency, the Taiwan Stock Exchange Corporation (TSEC) ranks the information transparency of listed companies and to disclose its rankings, as IT variable. The empirical results show that the IT significantly and negatively impacts the ER. We further divided variable of the enterprise risk by the operational risk (OR) and the financial risk (FR), and examine the effect of IT on OR with FR. The results indicate that IT significantly and negatively impacts the OR. But the negative impacts between IT and FR. This result means that the relation between IT and OR is higher than that the ER.

Keywords: Information Transparency, Enterprise Risk, Operational Risk, Financial Risk

回目錄

既定限量退回與備援政策下具隨機性需求之易腐性商品的最佳訂購模型

OPTIMAL ORDERING MODEL FOR PERISHABLE ITEMS WITH STOCHASTIC DEMAND GIVEN A LIMITED RETURNS AND BACKUP POLICY

黃明官

實踐大學財務金融學系教授

Ming-Guan Huang

Professor, Department of Finance and Banking,

Shih Chien University

摘要

　　由於高競爭性之易腐性產品經常面對相當程度起伏波動的市場需求，使得零售商的獲利性往往受到不利衝擊。鑑於此一情況，供應商目前已建立多種主要基於實現通路合作與風險分擔之政策，以之做為有效工具來減輕需求不確定風險，如此將極可能有助於增進整體通路利益。其中一種政策為供應商承諾零售商許可限量退回及提供限量備援存貨，藉以激勵零售商下訂更多訂單作為回報。此一互利合作政策對於未售出單元之殘值通常所剩無多的易腐性商品而言尤其具備價值性與必要性。為了達成此一目的，本研究延伸傳統之報童模型（Newsvendor model）以併入該一具對數常態隨機性需求之易腐性商品的限量退回與備援政策。經過周詳推導之後，本研究最終發展出一有效與實用的訂購模型，可用以最佳化訂購數量與最大化零售商的預期利潤，透過數值實例，本研究實證展示所發展之最佳訂購模型的可行性與效益性。

關鍵字：存貨管制、報童模型、退回與備援政策、易腐性商品、對數常態隨機性需求

ABSTRACT

　　Competitive perishable items frequently face such sizably volatile market demand that retailer profitability is frequently unfavorably impacted. Accordingly, suppliers have presently created various policies, which are primarily based on carrying out channel coordination and risk sharing, to serve as effective instruments to ease the risk of demand uncertainty and thus potentially help improve overall channel benefits. One such policy is for suppliers to make commitments to retailers to permit limited returns and provide a limited backup inventory to incentivize retailers to place more orders in return. This coordinated policy is especially valuable and necessary for perishable items because the salvage value remaining on unsold units is often trivial. To this end, this study extends a classical newsvendor model to incorporate the limited returns and backup policy for a given perishable item with lognormal stochastic demand. Following a comprehensive deduction, an effective and practical ordering model is finally developed to optimize order quantity and maximize retailer expected profits. By means of a numerical example, this study demonstrates the workability and effectiveness of the developed optimal ordering model.

Keywords: Inventory Control, Newsvendor Model, Returns and Backup Policy, Perishable Items, Lognormal Stochastic Demand

回目錄

存貨量相關需求及退貨政策合約下之可替代產品的供應鏈問題之研究

A NEWSVENDOR SUPPLY CHAIN FOR SUBSTITUTABLE ITEMS WITH STOCK-LEVEL DEPENDENT DEMAND AND A RETURN-POLICY CONTRACT

王國賢

德明財經科技大學企管系助理教授

董哲宗

德明財經科技大學國貿系助理教授

黃元直

德明財經科技大學企管系助理教授

Kuo-Hsien Wang

Assistant Professor, Department of Business Administration,

Takming University of Science and Technology

Che-Tsung Tung

Assistant Professor, Department of International Trade,

Takming University of Science and Technology

Yuan-Chih Huang

Assistant Professor, Department of Business Administration,

Takming University of Science and Technology

摘要

　　本文探討分散供應鏈問題，其中某製造商供應二種可替代產品與某零售商，而此零售商在一個銷售量與存貨量相關的市場內，同時考慮產品替代性及存貨量需求刺激的效應下，銷售此二種產品。為了達到與集中供應鏈相同效果，此製造商擬定合約保障與此零售商，包括提供相較於分散供應鏈便宜的零售價及接受所有未售完產品的退貨政策。本文之目的乃同時藉由此二種產品訂貨量之決定、此二種產品零售價及退貨價格之協商來協調此供應鏈並創造雙贏的局面。因此，我們為此二產品分別找到零售價範圍及退貨價格範圍供雙方協商以便達到Pareto-efficiency。

關鍵字：供應鏈、產品替代、存量貨相關之需求、退貨政策

ABSTRACT

　　This study addresses a decentralized supply chain whereby a manufacturer supplies two substitutable items to a retailer who sells the two items in a stock-level dependent demand market, considering the effects of product substitution and inventory demand stimulation. To operate the chain as a centralized supply chain, the manufacturer engages in a contractual commitment that not only offers the two cheaper wholesale prices but also accepts all unsold products at the end of the selling period. The objective is to coordinate the chain and create a win-win situation by means of jointly determining the two optimal order quantities, negotiating the two wholesale prices and setting the two buyback prices. To this end, a range of the two wholesale prices and a range of the two buyback prices to ensure the contract Pareto-efficiency are presented. Many managerial insights regarding the product substitution and the inventory demand stimulation are observed thereafter.

Keywords: Supply Chain, Product Substitution, Stock-Level Dependent Demand, Return Policy

回目錄

工作價值觀、家長式領導與組織公民行為影響之研究

RELATIONSHIPS AMONG WORK VALUES, PATERNALISTIC LEADERSHIP, AND ORGANIZATIONAL CITIZENSHIP BEHAVIOR

陳銘薰

國立台北大學企業管理學系教授

游淑萍

明志科技大學工業工程與管理系講師

國立台北大學企業管理學系博士候選人

Ming-Shiun Chen

Professor, Department of Business Administration,

National Taipei University

Su-Pin Yu

Lecturer, Department of Industrial Engineering & Management,

Ming Chi University of Technology

Ph. D. Candidate, Department of Business Administration,

National Taipei University

摘要

　　隨著市場競爭加劇，組織結構的扁平化，組織必須依靠員工主動執行職務外的一些利他行為，才能讓整個企業組織發揮更大的效能，員工的組織公民行為因而越來越為企業界關注的焦點。組織公民行為是一種獨立的正規獎勵制度之外但與工作有關自發性行為。然而如何啟動員工的組織公民行為，依據心理學場域理論所言，個人的行為會受到內在心理及所處的特定環境的影響，因此，本研究首先探討以工作價值觀作為內在心理變數探討對組織公民行為之影響，其次推論主管家長式領導（威權領導、仁慈領導、德行領導）調節工作價值觀對組織公民行為之影響。本研究以北區118位在職學生為問卷實證調查對象，透過迴歸分析結果，工作價值觀構面之中以「個人變通」能夠顯著地影響員工之「協助同事」和「公私分明」之組織公民行為。另外，「社會服務」價值觀對「協助同事」之組織公民行為呈現正向的顯著影響。此外，主管高威權領導情況之下，其在職者的「社會服務」工作價值觀對於組織公民行為於「不生事爭利」構面皆呈現顯著正向之影響。而高仁慈領導情況下在職者的「理想價值」工作價值觀對組織公民行為於「公私分明」的構面呈現正向顯著；低仁慈領導之下，在職者的「名利價值」工作價值觀對於組織公民行為於「公私分明」、「不生事爭利」構面皆呈現顯著負向之影響。高德性領導之下，其在職者的「名利價值」工作價值觀對於組織公民行為於「認同組織」構面皆呈現顯著正向之影響，最後研究者依據實證結果提出管理建議供企業主管參考。

關鍵字：工作價值觀、組織公民行為、家長式領導

ABSTRACT

　　To survive in a dynamic business environment, organizations have invested tremendous resources in their employees to reduce costs and gain a competitive advantage. Studies have found a relationship between organizational performance and organizational citizenship behavior (OCB). OCB is work-related behavior that is independent of the formal reward system but that promotes effective functioning in the organization. However, work values, manifested in work attitudes and behaviors, must drive such effectiveness. Consequently, a shift in work values may be the cause of a high turnover rate, a lack of professional knowledge or skills, and so on. On the other hand, leadership styles (i.e., the combination of separate, distinct behaviors) may, in turn, affect employee work values by modifying the organization’s reward and sanction system. Because OCB operates independently from the effects of the explicit reward system, the factors that contribute to OCB must be implicit, such as those related to leadership styles.

　　This study first explored the relationship between employee work values and OCB and then explored the effect of different leadership styles on OCB, focusing specifically on the mediating effect of paternalistic leadership behaviors. Questionnaires were administered to 118 subjects who were randomly selected from job-holding students enrolled in an evening continuing education program. The results showed a linkage between work values and OCB; in particular, the results revealed the following: (a) placing a value on ‘social service’ promoted altruistic behavior, and (b) placing a value on ‘individual accommodation’ promoted the OCB of altruism and protecting company resources. In terms of the three paternalistic leadership behavior dimensions, moral and benevolent leadership but not authoritarian leadership, exerted a significant influence on OCB. Furthermore, correlation and regression analyses indicated that paternalistic leadership behaviors had a mediating effect on the relationship between work values and OCB, albeit in only particular combinations.

Keywords: Work Values, Paternalistic Leadership, Organizational Citizenship Behavior

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