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購併後產品適配度與品牌適配度對主併者品牌權益影響之研究

PRODUCT FIT AND BRAND FIT’S EFFECT ON AN ACQUIRER’S BRAND 

李祥銘

健行科技大學副教授

曾鈺琦

台北大學企管系博士生

德明財經科技大學企管系專任講師

Hsiang-Ming Lee

Associate Professor, Department of Business and Management,

Chien Hsin University of Science and Technology

Yu-Chi Tseng

Graduate, Institute of Business Administration,

National Taipei University

Lecturer, Department of Business Administration,

Takming University of Science and Technology

摘要

　　此項研究目的是為了瞭解企業購併後，產品適配度與品牌適配度對主併者品牌權益的影響。本研究以台灣個人消費者為分析單位，針對383位受訪者（172位男性和211位女性）進行便利抽樣的問卷調查。調查結果顯示，品牌適配度與產品適配度的相互作用對品牌權益有顯著的影響，包括知覺品質、品牌聯想與品牌忠誠度。此外，研究結果也顯示，較低的產品適配度對品牌權益的影響比高的產品適配度更顯著。

關鍵字：品牌適配度、產品適配度、品牌權益、購併

ABSTRACT

　　The purpose of this study is to understand the effect of brand fit and product fit on brand equity after M&A. The present study used convenience sampling with the individual customer in Taiwan serving as the unit of analysis. 383 respondents (172 males and 211 females) completed a questionnaire in Chinese. The results of this study showed that the interaction of brand fit and product fit has a significant effect on brand equity including perceived quality, brand association and brand loyalty. In addition, the results suggest that the relationship between brand fit and brand equity is influenced by product fit, in which a low product fit with a low brand fit has a greater effect on brand equity than a high product fit with a low brand fit.

Keywords: Brand Fit, Product Fit, Brand Equity, Mergers and Acquisitions

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隨機過程能否解釋隱含波動率的形態？以台灣衍生性金融市場為例

DOES THE STOCHASTIC PROCESS EXPLAIN THE BIZARRENESS OF IMPLIED VOLATILITY FUNCTION? EVIDENCES FROM TAIWAN DERIVATIVE MARKETS

藍宇文

龍華科技大學財務金融系助理教授

朱孝恩

國立中央大學管理學博士

張力

世新大學企業管理系副教授

曾國安

龍華科技大學財務金融系助理教授

Yu-Wen Lan

Assistant Professor, Department of Finance and Banking,

Lunghwa University of Science and Technology

Shiaw-En Ju

Doctor of Philosophy,

National Central University

Li Chang

Associate Professor, Department of Business Administration,

Shih Hsin University

Kuo-An Tseng

Assistant Professor, Department of Finance and Banking,

Lunghwa University of Science and Technology

摘要

　　隱含波動率微笑現象始終為選擇權理論探討話題，部份學說相信此是因罕見事件其實比想像中還常見的報酬率胖尾分配所造成，另說則相信此是因選擇權所連結資產報酬率的變異數異質性所造成。本研究以台灣指數與個股選擇權市場為對象，實證結果認為經濟性因素，如選擇權合約供需數量與淨買壓，才是形成隱含波動率形態的主要原因。實證結果亦顯示，報酬率分配與隱含波動率形態無顯著關係；造市者因應市場需求以進行避險的限制套利假說獲得支持；模擬分析中產生的超常報酬，會隨選擇權合約價格深度不同而不同，與隱含波動率並非水平直線情況吻合。

關鍵字：隱含波動率、淨買壓、選擇權、微笑

ABSTRACT

　　The mysterious smile shown on implied volatility (IV) function of options has lastingly been discussed. A major stream of studies attributes the smile is reproduced by the transformed return distributions due to higher chance of rare events; some literature attribute the smile is caused by the dynamic variance of underlying asset. However, this study, based a Taiwan case of index and individual stock options market, advocated a more economic reason related with a strength of supply and demand, the net buying pressure (NBP), which is the main factor to affect the shape of IV function especial for index options. The analysis revealed that, the return distribution of underlying asset is not necessarily related with IV; the market maker hedges itself referring to demand of contracts thus the limits to arbitrage hypothesis is supported; the abnormal return generated from simulations supported that price premium shall be collected by different series of contracts and a non- horizontal IV as well.

Keywords: Implied Volatility, Net Buying Pressure, Options, Smile

回目錄

國際觀光旅館員工的情緒智慧重要嗎？以情緒智慧調節組織氣候、服務品質與績效表現之關係研究

DOES EMPLOYEES’ EMOTIONAL INTELLIGENCE IN THE INTERNATIONAL TOURIST HOTELS MATTER? EMOTIONAL INTELLIGENCE AS A MODERATOR OF ORGANIZATIONAL CLIMATE, SERVICE QUALITY AND JOB PERFORMANCE

許順旺

輔仁大學餐旅管理研究所教授

張姮燕

義守大學餐旅管理學系助理教授

吳紀美

輔仁大學餐旅管理研究所助理教授

陳冠霖

輔仁大學餐旅管理研究所碩士

Shun-Wang Hsu

Professor, Graduate Institute of Restaurant, Hotel and Institutional Management,

Fu Jen Catholic University

Heidi H. Chang

Assistant Professor, Department of Hospitality Management,

I-Shou University

Chi-Mei Wu

Assistant Professor, Graduate Institute of Restaurant, Hotel and Institutional Management,

Fu Jen Catholic University

Kuan-Lin Chen

M. B. A., Graduate Institute of Restaurant, Hotel and Institutional Management,

Fu Jen Catholic University

摘要

　　本研究以台灣地區國際觀光旅館之員工為研究對象，探討員工所知覺到的組織氣候、服務品質與績效表現之間的關聯性，並探討情緒智慧是否會對組織氣候、服務品質與績效表現之關係產生調節效果。研究採便利抽樣方式進行問卷調查，受測對象為國際觀光旅館工作滿一年以上之員工及其直屬主管。直線主管與員工以1比5配對方式，填答員工之服務品質與績效表現。問卷發放主管及員工各500份，回收有效配對問卷450份。研究結果顯示組織氣候對服務品質及績效表現均有顯著的正向影響；服務品質對績效表現有顯著的正向影響；服務品質會對組織氣候與績效表現間產生中介效果；情緒智慧對組織氣候與服務品質，以及服務品質與績效表現間產生調節效果。

關鍵字：組織氣候、服務品質、績效表現、情緒智慧

ABSTRACT

　　This research aimed to explore the relationship among international tourist hotel employees’ perceived organizational climate, service quality and job performance in Taiwan. It also examined the moderating effect of emotional intelligence on the relationship between organizational climate and service quality, as well as service quality and job performance. Questionnaire survey was used to collect data via convenience sampling. Sample matching method was applied so that direct managers were invited to evaluate service quality and job performance of their subordinate employees. There were 500 questionnaires sent to manager-level and 500 to the employees who worked in the international tourist hotels more than one year. A total of 450 valid matching questionnaires were received from manager-level and employees. The results showed that: (1) organizational climate had a positive relationship on service quality and job performance; (2) service quality had a positive relationship on job performance; (3) service quality had mediating effects on the relationship between organizational climate and service quality, as well as service quality and job performance; (4) emotional intelligence had moderating effect on the relationships between organizational climate and service quality, as well as the relationships between service quality and job performance.

Keywords: Organizational Climate, Service Quality, Job Performance, Emotional Intelligence

回目錄

問題導向學習教學模式下學習動機對學習滿意度影響之研究－以弘光科技大學為例

PROBLEM-BASED LEARNING: THE EFFECT OF LEARNING MOTIVATION ON LEARNING SATISFACTION

涂卉

弘光科技大學文化創意產業系助理教授

雷漢聲

國立雲林科技大學企業管理學系副教授

黃錦華

弘光科技大學文化創意產業系助理教授

Hui Tu

Assistant Professor, Department of Cultural and Creative Industries,

HungKuang University

Han-Sheng Lei

Associate Professor, Department of Business Administration,

National Yunlin University of Science and Technology

Chin-Hua Huang

Assistant Professor, Department of Cultural and Creative Industries,

HungKuang University

摘要

　　近年來高等教育期望發展各種不同的教學方式，藉以引發學生的學習動機與創意思考能力。問題導向學習（Problem-based learning, PBL）是以學習者為中心、著重問題解決的教學方法，過去多數文獻探討學習動機對學習滿意度的影響，然而對於著重學習成效的PBL教學法而言，相關的實證研究發展較少。本研究旨在驗證在PBL教學法下學生的學習動機對於學習滿意度之影響。本研究以弘光科技大學104學年度文化創意產業系大學部學生為樣本進行問卷調查，並運用典型相關分析驗證實證資料。本研究結果發現：(1)學生具備學習價值動機與內部動機愈高，愈能增進學習滿意度，特別是在學習價值動機方面；(2)強化學生的外部動機雖能增加學習滿意度，相較於內在動機與學習價值動機而言，外在動機對學習滿意度之影響效果較小。

關鍵字：問題導向學習、學習動機、學習滿意度、典型相關分析

ABSTRACT

　　Institutions of higher education attempts to develop various teaching methods recently for students to induce their skills of learning motivation and creative thinking. Problem-based learning (PBL) is a teaching method focuses on student-centered learning and problem-solving skills. While previous literature examined the impact of learning motivation on learning satisfaction, there is scant empirical evidence on the relationship between learning motivation and learning satisfaction in PBL teaching which emphasize effects of learning. The purpose of this research is to investigate how students’ learning motivation influences on their learning satisfaction using problem-based learning teaching strategy in design and marketing workshop. The data was collected from freshmen in the department of cultural and creative industries at HungKuang University in 2015 by using questionnaires. The study used canonical correlation analysis to verify the hypothesis. The findings show that (1) both task value and intrinsic motivation would facilitate learning satisfaction; (2) extrinsic motivation has a strongly positive influences on learning satisfaction; however, the effect of extrinsic motivation on learning satisfaction is smaller than the effects of task value and intrinsic motivation.

Keywords: Problem-Based Learning, Learning Motivation, Learning Satisfaction, Canonical Correlation Analysis

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