本篇論文應用Rubin (1973)、Rosenbaum and Rubin (1983、1985a,b)所發展的配對方法(Matching Method)探討兩個議題，其一是評估企業從事社會責任行為是否可以改善績效，另一則是探討銀行加入金控後對其績效的影響。 / 針對第一個議題，我們將FTSE All-share 指數中被收錄於英國FTSE 社會責任指數的成份股定義為社會責任企業，未被收錄者定義為非社會責任企業，應用配對方法，根據特性變數是否相近為依據進行樣本配對。實證結果發現，不論使用配對前或是配對後的樣本進行分析，皆找不到社會責任企業的平均績效優於非社會責任企業的證據；相反地，部分的證據顯示社會責任企業的財務績效相對較低，因此我們的分析結果傾向支持焦點移轉假說，社會責任行為對財務績效的影響效果為負。 / 另外，我們以遠見雜誌於2006 年公佈的企業社會責任調查為基礎，將衡量企業社會責任績效的三個層面－社區參與、環境保護與財務透明，透過投資組合分析與迴歸分析來評估公司承擔社會責任與財務績效之間的關聯性。實證結果發現，第一，平均來說，公司的社會責任評分愈高，在評比結果公佈後的股票報酬愈低，兩者之間呈現負向關係；第二，公司在不同層面的社會責任行為對於股價報酬的影響具有差異性；第三、透過公司的長期財務資料發現，社會責任評分高的公司其長期平均會計績效相對較佳，但長期平均的股票報酬相對較低，表示社會責任型公司不一定是一個好的投資標的；最後，我們找不到支持社會責任行為可以做為公司績效保險的證據。本文使用各別層面的評比指標，更廣泛地評估社會責任行為對財務績效的影響，改進既有文獻中僅使用單一指標的不足之處。 / 就第二個議題而言，同樣地應用配對方法，根據銀行的特性變數是否相近為依據進行樣本篩選，利用台灣上市上櫃的銀行在2002 年第1 季至2006 年第2季的資料，我們發現在樣本配對前，平均來說，金控銀行在15 個CAMEL 績效指標的表現上皆相對較佳；樣本配對後，金控銀行除了在費用比率之外，其他的評比指標仍相對優於獨立銀行；不論使用配對前或配對後的樣本做分析，皆未出現金控銀行績效顯著較差的證據，因此，我們的實證結果偏向支持綜效假設，銀行加入金控對績效的影響效果為正向。 / 我們的研究架構與方案評估與政策衝擊分析文獻中的方法相一致，而貢獻則在於我們考慮樣本之間特性變數的差異性，進而以樣本配對的方式修正這個差異性，將有效降低既有文獻中在檢驗上述兩個議題上的選擇偏誤問題。 / In this thesis, we apply several matching methods, develop by Rubin (1973)、Rosenbaum and Rubin (1983, 1985a,b), on examing the effects of Corporate Social Responsibility (CSR) on firm financial performance (CSR-effect) and on evaluating the effects of banks being subordinated to FHC on CAMEL indicators (join-FHC effect). / For the former application, two competing hypotheses, social impact hypothesis and shift of focus hypothesis, are proposed, where the former suggests that CSR has a positive relation with performance and the latter are opposite. To ensure the CSR-effect is not contaminated by other factors or the sample is randomly drawn, we employ four matching methods, Nearest, Caliper, Mahala and Mahala Caliper to match the characteristics of the firms with CSR (CSR-firms) and without CSR (NonCSR-firms) to get rid of sample selection bias. Although the four methods yield slightly different results, to our surprised, firms engaging in CSR activities obtain lower values on the return on assets, return on equity, return on sales and earnings per share. Therefore, CSR at the very least does not improve the firm performance, supporting the shift of focus hypothesis. Engaging in CSR activities lead to more pain than gain, at least in the short run. / On the CSR topic, using a set of disaggregated social performance indicators for community participation, environmental protection and fiancail transparency from the Global Views Monthly, we examine the relationship between CSR and financial performance of TSE listing companies. Our main results show that first, scores on composite social performance indicators are negatively related to stock returns and this relationship cannot be rationalized by multi-factor models for explaining the cross-sectional variation in stock returns. Second, the effects of three disaggregated social performance indicators on stock returns are differenct among industries. Third, aggregated social performance indicator is positively related to long-term accounting performance but negatively related to long-term market performance, and thus implies that good companies are good in books, but not good investments. Finally, firms with high CSR ratings do no exhibit smaller decline of their financial performance during stagnations and thus not support the view that CSR is insurance of financial performance. / The second application, two hypotheses, synergy hypothesis and specialization advantage hypothesis, are raised too, where the former suggests that FHC-banks performer better and the latter are contrary. Above four matching methods are still used to fix the characteristics of two groups of banks in order to correct for sample selection bias. Based on after-matching samples, most of our empirical results suggest that FHC-banks, on average, outperform independent banks on most of indicators on capital adequacy, asset quality, earning ability and liquidity but not on management ability and being FHC-banks at the very least does not deteriorate the performance of banks, making our conclusion favors the synergy hypothesis and against specialization advantage hypothesis in Taiwan. / Our framework is identical to many applications of matching method such as Persson (2001), Hutchison (2004), Glick, Guo and Hutchison (2006), and are also parallel to standard medical and biological research.

Oregon's land use planning system is often recognized as having been successful in its goals of limiting urban sprawl and protecting resource lands from development. However, it is difficult to quantify the impact of these regulations, because we cannot observe what would have happened in the absence of land use planning. The three essays in this dissertation explore the effects of Oregon's land use planning regulations on development patterns in the state, and also examine how the land use regulations are administered at the local level. The first essay in this dissertation asks if Oregon’s land use regulations have successfully restricted sprawl outside of urban areas. Urban containment policies, including Urban Growth Boundaries (UGBs), are a common tool used by city planners to promote compact development. We analyze how well UGBs do in containing development using fine-scale GIS data on cities in Oregon. Earlier studies on UGBs yield mixed results, with some authors finding no effects of UGBs on housing market variables and urbanization rates and others finding significant effects. A challenge in measuring these effects is that the location of the UGB is unlikely to be an exogenous determinant of a land parcel's value for development. The panel structure of our dataset allows us to estimate the UGB's effect on the probability of development using a difference-in-difference estimator. This estimator controls for time-invariant unobservable variables and common temporal effects among parcels, thereby mitigating the potential for biased estimates due to the endogeneity of the UGB's location. We also pursue a novel approach to controlling for time-varying factors inspired by regression discontinuity design. We find that UGBs are effective in containing development in many of the Oregon cities we examine, although there are some cities in which development rates are the same inside and outside of the UGB. Our results show that we would greatly overstate the effects of the UGBs were we to evaluate cross-sectional differences in development rates, as is common in previous studies. Besides the creation of UGBs, another goal of Oregon's land use regulations is to encourage citizen involvement in the planning process. The second essay in this dissertation examines the use of voter annexation as a form of citizen involvement. More specifically, this paper addresses the following two questions. First, does voter annexation cause changes in city demographics and characteristics? Second, assuming that a city votes for amendments and annexations to the UGB and city limits, what factors impact the outcome of the vote? We analyze the first question using the method of propensity score matching, which has not previously been used to explore this topic. This allows us to account for the endogeneity that stems from the fact that cities with certain characteristics may be more likely to use voter annexation in the first place. The second question, which is only evaluated for cities that employ voter annexation, is analyzed with the use of the logit model. Oregon's land use regulations must be approved at the state level, but are administered locally. Therefore, unlike past studies, we are able to isolate specific differences in the way the program is administered, and are not evaluating the stringency of the program itself. Previous studies have found that voter-approved annexation causes developers to provide more public goods and increase the scale of development, thereby shifting community demographics. Once a land use decision is on the ballot, it is also noted that cities that are whiter, wealthier, and more liberal are more likely to pass referenda that promote preservation and restrict development. For the first question, we compare specific demographic indicators between the two groups of cities. Contrary to the results of previous studies, we find no effect of voter annexation on these indicators. Our results for the second question indicate that the characteristics of the voting process itself impact the outcome more than community characteristics, which also differs from the results of previous analyses. The third essay in this dissertation is an extension of the first essay, and focuses on the impact of Oregon's land use regulations on the protection of land in riparian corridors and land that has been designated for exclusive farm use (EFU). Riparian corridors are protected with the use of Oregon Goal 5, which focuses on development of natural resource lands inside of UGBs, while EFU land is protected with the use of Oregon Goal 3, which focuses on protection of agricultural land at the county level. The LCT dataset that was used in the first essay is also used in this essay. EFU land by definition has no probability of development in the initial period. Land located in riparian corridors may also face different initial levels of protection than other land. We deal with this endogeneity, and also account for location inside or outside of a UGB, with the use of the difference -in-difference-in-differences estimator. This is an approach that has not been used to explore the effect of Oregon's land use regulations on these land categories. Most of the past studies that have examined the impact of land use planning on development of agricultural land in Oregon have relied on analysis of general trends and indicators, and have concluded that land use regulations have been successful in protecting this land. Previous research on riparian zone protection has focused on protection of aquatic wildlife, and for the most part has not examined the protection of riparian corridors inside of UGBs. The limited studies that have studied the effect of these regulations in UGBs have determined them to be effective in slowing, but not stopping, development in these areas. Overall, we find that Oregon's land use regulations have been successful in protecting both county level agricultural land and riparian corridors located inside of UGBs from development. It is less clear whether these regulations have protected riparian corridors located inside of UGBs from other anthropogenic uses. / Graduation date: 2012

This dissertation examines the ways international research collaboration affects the ability of Colombian research teams to produce bibliographic outputs, and to contribute to local knowledge. Research hypotheses are tested using Zero Inflated Negative Binomial Regression models to account for the effects of international research collaboration on team output while controlling for team characteristics, partner characteristics, scientific discipline, sector, the characteristics of the teams' home institution, and team location. The study uses control groups and the Propensity Score Matching approach to assess the overall impact of international research collaboration on research team performance while controlling for the effects of endogeneity and selection bias. Results show that international research collaboration is positively associated with both team output and teams' ability to contribute to local knowledge. The study shows that such effects depend on the type of collaboration chosen and the type of partner involved. Particularly, it shows that while co-authoring with colleagues located overseas or receiving foreign funding positively affects team performance, hosting foreign researchers does not seem to affect a team's productivity or its ability to contribute to local knowledge once all other variables are held constant. It also finds that collaborating with partners from the South yields greater productivity counts than collaborating with partners from the North, but that collaboration with partners from northern countries is strongly associated with a team's ability to contribute to local knowledge, while collaboration with partners from southern countries is not. Theoretical and policy implications of these and other counterintuitive findings are discussed.

This dissertation examines the ways international research collaboration affects the ability of Colombian research teams to produce bibliographic outputs, and to contribute to local knowledge. Research hypotheses are tested using Zero Inflated Negative Binomial Regression models to account for the effects of international research collaboration on team output while controlling for team characteristics, partner characteristics, scientific discipline, sector, the characteristics of the teams' home institution, and team location. The study uses control groups and the Propensity Score Matching approach to assess the overall impact of international research collaboration on research team performance while controlling for the effects of endogeneity and selection bias. Results show that international research collaboration is positively associated with both team output and teams' ability to contribute to local knowledge. The study shows that such effects depend on the type of collaboration chosen and the type of partner involved. Particularly, it shows that while co-authoring with colleagues located overseas or receiving foreign funding positively affects team performance, hosting foreign researchers does not seem to affect a team's productivity or its ability to contribute to local knowledge once all other variables are held constant. It also finds that collaborating with partners from the South yields greater productivity counts than collaborating with partners from the North, but that collaboration with partners from northern countries is strongly associated with a team's ability to contribute to local knowledge, while collaboration with partners from southern countries is not. Theoretical and policy implications of these and other counterintuitive findings are discussed.

This study examined the impact of the Comprehensive Agricultural Support Programme (CASP) on the livelihood of land and agrarian reform farmers in Sedibeng District Municipality of Gauteng Province, South Africa. The programme serves as a post settlement support to agricultural projects. Post settlement support is very critical to achieving many projects of South Africa and other neighbouring countries. The study diagnosed the key variables that could be used in reforming, correcting and tightening in order to have a sustainable agricultural project. The study also indicated the variables that could have positive and negative contributions on the effects of obtaining the socio-economic deliverables of the CASP agrarian reform farmers. A comprehensive structured questionnaire was designed and used to collect data from 300 agrarian reform farmers in Sedibeng District Municipality. The study employed Probit Regression model and Propensity Score Matching to estimate the impact of CASP on farmers’ income. The key findings were that CASP promoted the livelihood of the rural economy by increasing farmers’ incomes. CASP had a high impact on the income of agrarian reform farmers who benefited on it than non-benefited. Socio-economic and institutional factors were found to influence participation in CASP. The survey data indicate that the majority of respondents who participate in CASP (74.4%) were males while 25.6% were female. About (32%) of CASP participants had attained primary school education, 28.3% had secondary school education, and 23.3% had education at the college level while 16.4% acquired high school education. For non- CASP participant, 71.6% was male and 28.4% was female. About (32.1%) of non-CASP participants had acquired primary education, 23.5% had secondary school education, 25.9% had education at the college level while 18.5% acquired high school education About 53.9% representing the CASP participants was married while only 6.8% was single, 19.2 was divorced and 20.1 are widowed. The percentage of non-CASP participant that were married was about 51.9% and 8.6% are single, 23.5% are divorced while 16.0 are widowed. About 22.8% of the CASP participant indicated that their household heads were employed while 77.8% are unemployed. About16.9% of CASP participants had obtained qualification in agriculture while the majority (83.1%) did not have any qualification in agriculture. Only 18.5% of non-CASP participant obtained qualification in agriculture while 81.5% have not obtained any qualification in agriculture. The study recommended that CASP be extended to more agrarian reform farmers and it will promote food security and sustainable strategy to achieve the post 2015 development agenda (2030 agenda-succeed the Millennium Development Goals) for sustainable development goals targets ending poverty and hunger. In order to achieve more participation, factors identified to influence CASP participation needed to be given more attention critical in policy formulation. / Agriculture, Animal Health and Human Ecology / M. Sc. (Agriculture)

本研究使用「臺灣教育長期追蹤資料庫」第二波（2003）國三與第三波（2005）高二的CP追蹤數據，採用反事實模型框架下的傾向分數配對法估計單一性別環境對臺灣高中女生選組行爲（自然組／社會組）的因果效應。使用學生進入高中前的國三資料，本研究在學生因素，家庭因素和學校、班級因素三個方面充分平衡處置組（進入女校）和控制組（進入男女合校）的樣本，使配對樣本之間除了進入女校或進入男女合校之外，在以上三個方面儘可能相等，嘗試克服觀察性數據因選擇性偏誤問題對因果效應的估計帶來的阻礙。結果顯示，在進行傾向分數配對後，處置組和控制組之間達到了很好的平衡，進入女校的女生與進入男女合班的男女合校中的女生相比，女校顯著地促進了高中女生選自然組的機率，然而該效應在數學成績水平不同的女生中存在異質性，女校顯著地促進了數學成績處於高水平的女生的選擇自然組的行爲。作爲教育分流的重要組成部分，臺灣高中生選組行爲的性別隔離長期存在，選組行爲與學生未來大學科系選擇和職業選擇關係密切，自然組中低比例的女生組成顯現出隱藏的教育機會不平等。該現象長期存在的背後因素，除了學生個人因素和學生家庭背景因素帶來的影響，本研究關注學校這一角色對高中女生選組行爲的影響。 / Based on the Taiwan Educational Panel Survey’s core panel data from wave 2 (junior high school/9th grade) and wave 3 (high school/11th grade), researcher applies the propensity score analysis in counterfactual framework to study the causal effect of single-sex schooling on high school girls’ curriculum tracking (science track or humanity track) selection. Observational data always be the obstacles of making the causal analysis because it's lacking random assignment and being under threat of selection bias and unobserved variables. Using the pretreatment variables from students in 9th grade, students in the treatment group were matched with those in control groups by the individual factors, family factors and school, classroom environment factors. After matching, students come from different groups are supposed to be relatively equivalent on all the matching variables except for attending single-sex school or not. The researcher can make suitable comparison and prediction between well-matched samples. The result shows that more girls in single-sex high schools tend to choose science track. Effect of single-sex schooling is not the same among girls with different level of math scores. It benefits girls with top math performance significantly. As an important part of the educational tracking system, alternative curriculum tracking selection in Taiwan high school is worth noteworthy. The long lasting gender segregation is closely associated with students college major as well as occupation selection and it reveals the hidden educational inequality between gender. Other than focusing on the individual and family background effect on high school girls’ curriculum tracking selection, this study highlights the school effect on it.

L’insicurezza alimentare colpisce soprattutto le famiglie rurali povere che vivono di agricoltura di sussistenza nei Paesi in via di Sviluppo. Nell’ottica di fornire un supporto alle comunità che si trovano in queste condizioni, L’Università Cattolica del Sacro Cuore e la Fondazione Romeo ed Enrica Invernizzi hanno avviato nel 2012 il progetto “Produzione di cibo appropriato, sufficiente, sicuro e sostenibile”. Il progetto si propone di avviare Centri Pilota in collaborazione con le diocesi che promuovano uno una intensificazione delle produzioni agricole e una dieta sostenibile dal punto di vista etico-sociale, economico e ambientale. I Paesi in cui opera il progetto sono l’India (Meghalaya State) e la Repubblica Democratica del Congo – RDC (Lomami province). Con l’aiuto dei team locali sono state raccolte informazioni sulle abitudini produttive e alimentari della popolazione. Su questi dati è stata svolta una analisi circa l’impatto che il progetto ha avuto sulla sicurezza alimentare (disponibilità e accesso) delle famiglie coinvolte. Il numero di polli allevati (India) e l’Household Dietary Diversity Score (India and RDC) sono stati utilizzati come proxy per la disponibilità e l’accesso di cibo, rispettivamente. L’analisi statistica è stata effettuata usando differenti approcci dello Propensity Score Match (Logit + Nearest Neighbour and GenMatch) per valutare ATT (Effetto medio del trattamento sul gruppo “trattato”). Per quanto riguarda l’India sono stati analizzati i) il numero di polli allevati (food availability) e ii) l’HDDS (Household Dietary Diversity) per la food access. Il progetto ha avuto un impatto positivo ma non significativo sul numero di polli allevato, che però non si è tradotto in un miglioramento dell’HDDS delle famiglie di piccoli agricoltori coinvolti nel progetto. Per la RDC è stato analizzato solo l’impatto sulla food access (HDDS). In questo caso l’impatto del progetto sulla sicurezza alimentare dei piccoli agricoltori è stato positivo ma non significativo. I risultati mostrano che un miglioramento nella qualità della dieta (HDDS) implica, oltre ad un miglioramento delle produzioni (in qualità e in quantità), è necessario anche un miglioramento della educazione (anche nutrizionale) e dell’accesso al mercato. / Food Insecurity (FI) affects especially poor rural people that rely on Subsistence Agriculture in developing countries. With the purpose to help the community that living in that conditions, in 2012 the Università Cattolica del Sacro Cuore and the Fondazione Romeo ed Enrica Invernizzi have started the “Production of appropriate food: safe sufficient and sustainable” project. The project aims to open Pilot Center in agreement with local Diocese to promote the Agricultural production Intensification agriculture and Diets that are sustainable (ethical, economic and environmental). The project is active in India (Meghalaya State) and the Democratic Republic of Congo (Lomami Province). Helped by the local team, information was collected on production and diets habits. An analysis of the impact that the project had on food security (availability and access) of the families involved was carried out on these data. Number of Chicken (India) and Household Dietary Diversity Score - HDDS (India and DRC) as a proxy for food availability and access, were respectively utilised. Thus, we used different Propensity Score Match approach (Logit + Nearest Neighbour and GenMatch) to evaluate the ATT (average treatment effect on the treated group). Regarding India, the number of chickens bred (as food availability) and the HDDS (food access) were analyzed. While the number of chickens bred is positive but not significant, the HDDS values of smallholder farmers involved in the project did not improved. Moving to DRC, only the HDDS was analyzed. In this case, the project had a positive impact on beneficiary families, but it was not significant. The results point out that diet improving (HDDS) advances the production, both in quality and quantity, but is not a sufficient condition per se. Furthermore, it is also essential to enhance the educational path which focuses on nutritional issues and the access to food from market.

Over the past couple of years, the South African government has been offering varied support to households that are engaged in small-scale farming, with the objectives of improving their livelihoods, income and food security. Although the various rounds of the General Household Survey (GHS) gathered information on the type of agricultural support received by the farmers, their production, agricultural income and food security status, there is limited empirical evidence on the extent to which the agricultural support programme is yielding the intended results. Very little is also known about how the beneficiary households perceive the agricultural support programme as either relevant or otherwise. This study fills these gaps in the literature using the GHS data spanning the period 2013 to 2016 to assess how government agricultural development support influences the livelihoods of small-scale farmers in South Africa. This broad objective is divided into two specific objectives: (1) to assess the effects of government agricultural development support on agricultural income, production and food security of beneficiary small-scale farmers in South Africa; and (2) to assess the usefulness of the government agricultural development support for the beneficiary small-scale the government agricultural development support for the beneficiary small-scale farmers in South Africa. By combining descriptive analysis with Propensity Score Matching (PSM) and logistic estimation techniques to address these objectives, the results indicate that from the year 2013 to the 2016 survey years, the proportion of households who have access to agricultural development support has decreased marginally by about two percent. Access to support has remained higher among males than females; farmers who have low levels of education than those with high levels of education. Across provinces access to agricultural support is high in the Eastern Cape, KwaZulu-Natal, Northern Cape, North -West and Mpumalanga, but very low in the Free State, Limpopo, Gauteng and Western Cape. The agricultural development assistance given by the South African government is effective in reducing food insecurity, as well as in improving the production and income of the beneficiary smallscale farmers. However, the results suggest that the agricultural support system is having a heterogeneous impact on beneficiary small-scale farmers, depending on their gender and geographical locations. / Agriculture and  Animal Health / M. Sc. (Agriculture)

<p dir="ltr">The National Flood Insurance Program (NFIP), which is run by the U.S. Federal Emergency Management Agency (FEMA), is presently under huge debt to the U.S. treasury. The debt is primarily caused by low flood insurance take-up rate, low willingness to pay for flood insurance, and large payouts after major disasters. Addressing this insolvency problem requires the NFIP to understand (1) what drives the demand for flood insurance so that it can be increased, (2) how risk factors contribute towards large flood insurance payouts so that effective risk reduction policies can be planned, and (3) how to predict the future flood insurance payouts so that the NFIP can be financially prepared. This research has answered these three fundamental questions by developing empirical models based on historical data. To answer the first question, this research has developed a propensity score-based causal model that analyzed one of the key components that influences the demand for flood insurance – the availability of post-disaster government assistance. It was found that the availability of the federal payout in a county in a year increased the number of flood insurance policies by 5.2% and the total insured value of the policies by 4.6% in the following year. Next, this research has developed Mixed Effects Regression model that quantified the causal relationships between the annual flood insurance payout in a county and flood related risk factors such as flood exposure, infrastructure vulnerability, social vulnerability, community resilience, and the number of mobile homes in the county. Based on the derived causal estimates, it was predicted that climate change, which is expected to increase flood exposure in coastal counties, will increase the annual NFIP payout in New Orleans, Louisiana by $2.04 billion in the next 30 years. Lastly, to make the NFIP financially prepared for future payouts, this research has developed a predictive model that can predict the annual NFIP payout in a county with adequate predictive accuracy. The predictive model was used to predict the NFIP payout for 2021 and it was able to predict that with a 9.8% prediction error. The outcomes of this research create new knowledge to inform policy decisions and strategies aimed at fortifying the NFIP. This includes strategies such as flood protection infrastructure, tailored disaster assistance, and other interventions that can bolster flood insurance uptake while mitigating the risk of substantial payouts. Ultimately, this research contributes to sustaining the NFIP's ability to provide vital flood insurance coverage to millions of Americans.</p>

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