在勞動市場裡可以觀察到，每個人的工資都不相同。在過去的研究裡，學者嘗試以各種人力資本變數來解釋工資率的差異。其中，在男性的工資方程式中，婚姻狀態特別受到關注，且在過去研究皆發現男性存在著婚姻溢酬。文獻上解釋婚姻溢酬的來源，主要分成三個假說，分別是家庭分工假說、選擇性假說以及雇主的偏好。 本文和過去研究不同的地方在於消除選擇性偏誤的方法。我利用傾向分數配對法使婚姻狀態變成一個隨機決定的過程。配對完，並將資料整理為追蹤資料的型態後，再估計婚姻溢酬。最後結果顯示，在利用配對方法把單一年度資料轉換為兩期的追蹤資料後，婚姻溢酬仍然相當顯著，因此本文不支持選擇性假說。但是因為追蹤資料涵蓋期間過短，因此我無法利用現有的資料區分出家庭分工和雇主的偏好這兩種效果。 / The study of determinants of individual wages is important for exploring why some individuals earn more than other individuals. In the past, numerous efforts have been devoted to explain wage differentials by various human capital variables. Marital status is also used as a control and is of interest in estimating the male’s wage regression. It is commonly acknowledged that in cross-sectional analyses, married men have higher wages than single men, other things being equal. The higher wages paid to married men compared with their single counterparts is defined as marital wage premium. There are three leading hypotheses: family role specialization, selection hypothesis and employer favoritism. This paper uses a new method called propensity score matching to estimate the male marital wage premium. Propensity score matching is used to create a quasi-experiment that makes the decision to get married become a random treatment. The principle is to match a married man to a comparable single man who is closest in terms of important characteristics. And then, I transform the matched sample into panel data where units are observed at two periods, having the unmarried man as a proxy of married man, as if he was single. Therefore, I can apply fixed effect and random effect models to the transformed data. The results show no evidence to support the selection hypothesis since after transforming the data into panel data set and applying the fixed effect model, the marital wage premium is still significant. But being limited by the short period of the quasi-panel data set, I cannot distinguish between family role specialization and employer preference.

本研究主要探討企業社會責任與現金股利之間的關聯性，並利用傾向分數配對方法(Propensity Score Matching method)控制可能會影響落實企業社會責任的因子，再進一步探討企業社會責任本身是否對現金股利仍具有正向影響性。由於企業社會責任由許多構面所組成，我們將繼續探討企業社會責任各個構面的落實是否對股利政策具有顯著的影響效果，並將研究落實企業社會責任是否會為企業帶來保險效果。本研究利用傾向分數配對方法，根據公司的傾向分數是否相近來進行樣本的配對，藉由分析落實企業社會責任公司與其反事實樣本(其特性變數和落實企業社會責任公司極為相似但實際上未落實企業社會責任的公司)來降低選擇性偏誤與內生性問題。本研究以2007年至2016年之上市上櫃公司(不包括金融類股)為樣本，實證結果發現落實企業社會責任的公司現金股利發放較多，且企業社會責任之評分與現金股利亦呈正向影響。此外，各項構面對現金股利發放皆有正面影響，然而落實企業社會責任並無顯著保險效果。同時以傳統解決選擇偏誤問題的Heckman(1979)兩階段估計法作為傾向分數配對法之穩健性檢定，實證結果與前述結果類似。 / This research examines the impact of corporate social responsibility (CSR) on firm’s dividends and the impact between different components on dividends. (i.e. Corpo-rate Governance, Corporate Commitment, Social participation, Environmental Pro-tection). This research suggests that corporate social responsibility have positive im-pact on dividends. We also examine the insurance effect of CSR activities. In this research, we use propensity score matching method to prevent from the contamina-tion of CSR-effect and the selection bias. This research uses all listed company at stock exchange market and over the counter data which financial stocks are exclud-ed and defines the winners of Excellence in Corporate Social Responsibility Award which conferred by Common Wealth Magazine as firms with CSR during 2007 to 2016. The findings support the view of relationship between CSR and dividends is positive. Moreover, each component has positive effect on dividends, while the in-surance effect does not exist. We also use the Heckman two-stage model (1979) as robust test, and find the similar results as using propensity score matching method.

我國自1996年起開始試辦綜合高中，迄今已有十餘年。試辦綜合高中的目的在於促使我國後期中等教育能在高中、高職之外，提供另一條不同的選擇進路，俾使學生得以適性發展，學得多方面的知識，達到適性教育的目標。過去國內關於綜合高中分流政策的研究，大都集中在探討綜合高中的辦學績效和實施困難，而非該政策對學生學習成就的影響之探討。有鑑於此，本研究進一步探討：（1）哪些因素會影響國中畢業生選擇就讀普通高中和綜合高中學術導向組；（2）就讀綜合高中的學生，其學生學習成就是否優於就讀一般高中或高職；（3）綜合高中的課程分流政策是否能減少教育階層化的產生。 原始資料取自臺灣教育長期追蹤資料庫（Taiwan Education Panel Survey）公開使用版中的第一波到第四波國中追蹤樣本資料，並使用傾向分數配對法（Propensity Score Matching）探討上述三個研究目的。研究結果發現：(1)控制其它相關因素之後，過去學習成就和家庭社經背景愈佳者，愈有可能就讀普通高中及綜合高中學術導向組；(2)在學生學習成就表現上，就讀綜合高中的學生並不比就讀一般高中或高職的學生來得好；(3)綜合高中分流政策和制度性分流一樣，都會產生教育階層化現象。最後，本研究說明本研究結果對綜合高中分流政策的意涵，及提出研究建議供後續研究之用。 / Since 1996, Taiwan government launched the policy of Comprehensive High School (CHS) to relax the traditional system of curriculum tracking at the level of the senior secondary education. A number of studies and on-site evaluation reports on CHS have been made. So far, these studies and reports focused on exploring the performance of comprehensive high schools and difficulties in implementation of the policy. No evaluation of the impacts of the CHS policy on student achievement has yet been done. The purpose of this study is to examine the effects of the CHS policy on students’ achievement in the upper secondary education in Taiwan. This study attempts to answer the following research questions: (1) What factors influence junior-high school graduates’ decision on attending general high schools, and the academic track in comprehensive high schools? (2) Do students enrolling in comprehensive high schools perform better academically than those enrolling in general or vocational high schools? (3) Do curriculum tracking in comprehensive high schools enhance or reduce inequality in educational achievement? Using the data from the public released core panel data of the Taiwan Education Panel Survey (TEPS) in 2001, 2003, 2005, and 2007, this study employs the method of propensity score matching (PSM) to estimate the average treatment effect of CHS policy on student achievement. All results of PSM analysis indicate that (1) all else being equal, students with higher prior student achievement and better socio-economic backgrounds have more opportunities to enroll in an academic track, including senior high schools and the academic track in comprehensive high schools, than those with lower level of prior achievement or socio-economic backgrounds; (2) for those enrolled in comprehensive high schools, there is virtually no gain in student achievement from the CHS policy; and (3) tracking in comprehensive high schools produce inequality in educational achievement, which is similar to tracking between general and vocational high schools. Finally, the present study discusses the implications of the CHS policy and suggests directions for future research.

自1990年代中期，隨著環保、消費者權利、童工…等這些議題被廣泛檢討，越來越多人同意各別公司與整個社會是價值共享且相互依存的，若要達到共存共榮的理想，則公司必定要將社會責任融入其自身追求競爭力和商業策略的核心架構中。企業社會責任(Corporate Social Responsibility)並無公認標準，但一般泛指企業除了追求股東的利益極大化外，還必須兼顧員工、顧客、供應商、合作夥伴、社區團體、環境…等。 道瓊永續性指數(Dow Jones Sustainability Index)為現今資本市場衡量企業社會責任的標竿指數，而企業名列在被大眾認可的永續性指數上，就是企業可以傳達給利益相關者(stakeholders)，表明他們注重企業社會責任的訊號之一。藉由研究企業被涵蓋在聲譽卓著的永續性指數之內是否能為股東創造價值，本論文將探討企業永續發展和企業價值之間的複雜關係。 本研究利用傾向分數配對法(Propensity Score Matching)，降低進入與退出道瓊永續性指數這兩組公司間的異質性，以求得出的結果較不受公司規模、財務槓桿、產業等外在其他因素干擾。將2002至2009年間的樣本數配對後，以道瓊永續性指數作為企業社會責任之代理變數，以累積異常報酬率(Cumulative abnormal return)代表為股東創造之財富，我們追蹤資本市場對於企業進入和退出道瓊永續性指數的反應，來探討股東是否認同公司參與企業社會責任是創造價值之行為。 本研究結果顯示如下: 第一、當企業被加入道瓊永續性指數時，該企業之股東將獲得正向且顯著性的累積異常報酬率，這代表名列著名的的永續性指數是一個股東認可，且企業應追尋的目標。第二、當企業被道瓊永續性指數剔除時，該企業之股東將獲得負向但不顯著的累積異常報酬率。因此我們至少可以推論，從事企業社會責任活動，並不會破壞企業整體之價值。 / Corporate social responsibility (CSR) gradually becomes an important corporate strategy to every company in the worldwide economy. The social performance of a firm can shape the images to key stakeholders, no matter they are employees, suppliers, customers or investors, and influence decision making and relationships with the firm in the later stage. While corporations are busy engaging and enhancing CSR practices, there are few established empirical research on CSR effects and relevance in the capital markets. Hence, my thesis explores the relationship between corporate sustainability and firm value by asking whether membership on a recognized sustainability index is value generating. As stakeholders are urging that firms demonstrate their commitment to sustainability, one signal that companies can send to stakeholders to indicate that they are sustainable is membership on a recognized sustainability index. My research investigates this issue by tracing the market reaction to corporate entries and exits from Dow Jones Sustainability Index, recognized as a CSR benchmark, between 2002 and 2009. Instead of using regression models, I employ a propensity score matching (PSM) pairs design to overcome heterogeneity between different firms. My thesis highlights two main findings: a significant share price rising trend in cumulative abnormal returns (CAR) of the samples under the addition situation, suggesting that inclusion on the Dow Jones Sustainability Index (DJSI) is a goal that firms should pursue. Another is an insignificant negative stock market reaction while firms are removed from the DJSI, and I can draw from the results that, at the very least, adopting CSR doesn’t deteriorate the value of the firms. Our results suggest that the benefits of being included on the DJSI outweigh or equal to the costs associated with applying a membership on DJSI.