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中國大陸自改革開放後，隨著經濟、社會控制的放鬆，制度的調整與創新，種種改變無不成為中外學者對中國大陸民主化前景引頸期盼的研究焦點。當中國大陸面對多種民主化路徑選擇下，「選舉」無疑是備受學者關注的一環。1998年起，「直接選舉」在城市基層社區的推動，成為中國大陸基層民主發展的一個新階段。而西方的現代化理論更將城市視為「民主發展的搖籃」，其高度的經濟、社會發展，有利於帶動公民社會之萌生與民眾政治參與的需求。因此，選舉在城市的發展為觀察中國大陸民主發展的重要標的。 有鑑於「民主選舉」具有的政治賦權意義，社區居民委員會推動的直接選舉，雖仍存在國家主導的問題，但選舉機制的修改，讓選民能自由參與、自由選擇，以及開放候選人的推薦。因此，選民是否能在此機制之下，透過居委會選舉的參與，培育出更強的政治意識，或透過選舉議題激發社區公共意識的萌芽，發展抗衡國家的社會力量？本文經由2003、2006兩屆上海居委會選舉為研究案例，探討社區居民的選舉參與情況，以「政治功效意識」和「社區意識」作為分析選民選舉參與態度之架構。 研究結果發現，城市社區選舉參與程度愈高者，其政治功效意識與社區意識均得到提升，但低度參與的社區居民兩方面的效果則不顯著。顯示，基層社區國家動員下的選舉參與，有助於部分社區成員強化其政治功效意識，以及激發社區意識的我群觀念。而選舉作為中國大陸基層社會自主力量的訓練，將可能有助於培養城市居民具有更高的政治參與能力，以及可能產生的非預期政治改革後果。

2000及2004年總統大選結果，均由民進黨贏得選舉取得執政權，但中央政府的立法權卻一直由國民黨、親民黨等組成的在野聯盟所掌控，形成中央層級的「分立政府」狀態。本研究透過議程阻絕的觀點，嘗試比較一致政府時期與分立政府時期對於國會立法行為有無不同的差異影響存在，研究時間自1993年至2007年(第2屆至第6屆第4會期立法院)，並以程序委員會審定議程作為研究分析對象，希望藉由實證分析來探究：我國國會受到分立政府運作之影響，是否較容易產生行政立法僵局、政策停滯的現象？同時進一步分析那些議案無法排入議程進行審查或討論？ 本研究首先針對程序委員會審定議程時，出現的表決與阻絕議案的情形，作為瞭解一致政府時期與分立政府時期是否具有顯著差異；其次，針對停滯在程序委員會的議案進行內容分析；最後，選擇引起社會大眾關注的重大議案作深入的質性探討。經由實證分析結果發現：分立政府時期，國會係由在野(多數)黨主導立法議程的安排、程序委員會的角色與功能亦由配合行政部門推動立法轉變為抵制者，且因為政黨競爭激烈，常引起朝野政黨的對峙、衝突與僵局，因而造成嚴重的立法滯塞、政策遲延、以及施政責任難以歸責等問題。可見得，我國中央分立政府運作對於國會立法之影響，對照於美國學界的研究結果，較傾向以Sundquist為首的傳統學派所主張的論點。 為改善我國中央分立政府運作的負面影響，本論文認為當務之急即是要避免議程阻絕的發生，並分別從法制面、運作面、策略面及政治面提出本文看法與建議。最後，並指出具體的研究分析對象和測量指標，俾供未來相關研究者參酌，以逐步累積、建構更為完整的分立政府理論。 關鍵詞：一致政府、分立政府、議程阻絕、程序委員會、審定議程、僵局、滯塞、遲延 / Both in the 2000 and 2004 presidential election,the Democratic Progressive Party won the presidency and gained the execution,however,legislation of government still controlled by the coalition of the KMT and PFP, became the conditions of the center level of divided government. This study tries to compare the different impact on legislation between the period of unified government and divided government since 1993-2007(from second to the fourth sess of the sixth Legislative Yuan) through the focus on the perspective of agenda obstruction,and the major agenda markup of the Procedure Committee in the Legislative Yuan.The goal is explored by the evidence analysis under the influence of the operation of divided government,whether our Congress produces the appearance that execution and legislation gridlock and policy stalemate easier or not ? Furthermore, find out and analysis which bills can’t access the agenda to markup or discuss? First, the research aim at the appearance of voting and obstruct of the bills when the procedure committee markup the agenda. In order to know whether there are major differences between the period of unified government and divided government or not; Second , the research will analysis the content of bills that stalemate in the procedure committee; Finally, the research chooses the important themes of the public’s concern, and studies through discussion.Through this study,we find results by the evidence analysis:the opposition parties（the majorities）in Congress can predominate the agenda of legislation in the period of divided government,the role and the function of the procedure committee changes from advancing to resisting for cooperating with Executive departments,and by reason of these parties compete intensely,which often produces the confrontation , conflict and deadlock between ruling and opposition parties, therefore, it lead to these serious questions such as legislation stalemate,policy delay, and accountability. Comparing to researchs of American academic circle,we find impacts on the legislation of Congress of divided government operation are more close to the conventional claims of Sundquist’s mainpoints. In order to mend bad effects by the divided government operation,we think the most urgent thing is to avoid the happening of agenda obstruction. This research also proposes many opinions and suggestions from the legal aspects, the operation aspects, the strategy aspects and the political aspects. Finally, I want to point out the concrete research analysis object and the survey target for other scholars to refer, and then, to accumulate, to construct more complete theory of divided government. Key words :Unified government,Divided government,Agenda obstruction,Procedure Committee,Agenda markup,Gridlock,Stalemate,Delay

過去研究均指出審計委員會成員若具有財務或會計專才可以提升審計委員會執行效率與效果，降低公司異常交易與內空缺失的風險，進而提升財務報表品質，並降低外部財務報表使用者與公司內部之資訊不對稱情況。本研究探討在公開發行債券過程中，若發行公司審計委員會具有財務或會計專長，債務條款是否會改變。研究結果發現，債券投資人於選擇投資債券時，確實會考量到債券發行公司審計委員會成員之會計專長，然而，沒有證據顯示財務專長在其考量範圍內，因會計專長可提高財務報表可信度，降低資訊不對稱問題，減少債券投資人所面臨的投資風險，因此，若債券發行公司之審計委員會成員具備會計專才，債券市場將給予較低的債券利率以及較優惠的條件。 / The extant literature reveals that audit committee (AC) members with financial or accounting expertise can enhance the effectiveness of AC in monitoring the financial reporting quality. In this study, I focus on the effects of financial and accounting experts on the effectiveness of AC from bondholders’ point of view, respectively. First, I find no evidence that the presence of financial experts on AC, either alone or jointly with accounting experts, are significantly related to loan terms. Second, I find that bondholders charge lower interest rate, offer longer maturity, and are less likely to require convertible bonds issuance or require collateral to firms whose AC have at least one accounting expert or only accounting experts. Third, I further find that the association between AC experts and loan terms is driven more by accounting experts than by financial experts. Given the prior results of a negative relationship between accounting experts and loan terms, firms could enhance their financial reporting quality by appropriately structuring AC with accounting experts, thereby rewarding better loan terms.

本文主要探討權益薪酬對審計委員會監督關係人交易效果之影響。本研究從美國證券交易所公開資訊EDGAR資料庫以手動蒐集關係人交易資訊，以2010年至2013年間之中小企業為樣本進行實證分析。實證結果發現關係人交易與權益薪酬交乘項與企業價值呈現顯著負相關，意即發放權益薪酬使得審計委員會極大化個人利益而過度注重短期財務績效，選擇默許管理階層不當之關係人交易安排，進而造成企業價值不利之影響。額外分析亦指出審計委員會之權益薪酬對其監督關係人交易效果有負面影響，但未發現證據指出審計委員會之現金薪酬與其監督關係人交易效果有關聯性。 / This study investigates whether equity-based compensation for audit committee members is associated with the effectiveness of their supervision on related party transactions. We hand collect the data of related party transactions for small and medium-size firms from EDGAR database for the period 2010-2013. We find that the interaction effect between related party transactions and stock compensation for audit committee members is negatively associated with firm value. It suggests that in order to maximize short-term benefits, audit committee members with stock compensation are inclined to be more tolerable to earnings management through related party transactions that are unfavorable to shareholders. Additionally, we do not find any evidence indicating that cash compensation is associated with the effectiveness of audit committee’s oversight on related party transactions.

有鑑於近年來伴隨著金融風暴，許多公司因經營不善而倒閉，加 上美國接二連三發生財報不實之弊案，例如：安隆案、美林證券案、 世界通訊案，以及2008 年發生的美國第4 大投資銀行雷曼兄弟因其 自行打造之衍生性金融商品－次級房貸證券風暴，而申請破產保護案 件所引發的全球金融海嘯，使得投資人為之卻步，對於證券市場信心 全失，國際組織及世界各國再度對於公司治理制度之推動，加以重 視，公司治理領域最受矚目的國際組織國際合作暨經濟發展組織陸續 提出公司治理原則。在我國亦發生有博達公司財報不實的弊案，因 此，我國也不落人後，除了已有學者探討公司治理制度之文獻，政府 及相關機構亦積極參與推動公司治理制度，初始係由台灣證券交易所 及櫃檯買賣中心經由其與上市、上櫃公司間之契約，要求公司設置獨 立董事及監察人之席次；其後經由證券交易法之修正，賦予主管機關 發佈相關命令，使得獨立董事有其法律上的地位，繼而引進審計委員 會制度，亦使我國公司法制進入另一個里程盃。 又因近年國內金融機構結構的變化，為了提高個別銀行的市佔 率，達到規模經濟，以具世界競爭力，出現金融控股公司之型態，以 及公司法等相關金融法制之發展，主要係於民國90 年制定之金融控 股公司法，亦使得傳統公司法制面臨改革與挑戰，如股東會、董事會 及監察人三權分立之原狀，為因應金融控股公司之控股性質，及多角 化經營，對於由其百分之百持股之子公司，因該子公司為一人公司， 僅有一個股東，即金融控股公司，因而由董事會代行股東會職權，似 乎瓦解了原三權分立之制衡設計；且一人公司之存在，對於其債權人 或相關利害關係人權益之保護是否足夠，亦有討論空間。 因此，擬從我國金融控股公司及其子公司之經營模式及組成結 構，論及一人公司治理相關議題，期能對於一人公司之債權人或相關 利害關係人權益之維護更佳周延。 關鍵字： 公司治理、獨立董事、審計委員會、金融控股公司、一人公司

審計公費係影響審計品質之一大因素，且中國事務所家數眾多，更易產生低價攬客的惡性競爭行為，再者，中國上市公司重編狀況近來層出不窮，因此本文以2004-2008年中國大陸A股上市公司為研究對象，欲研究重編事件對中國企業審計公費之影響。財務報表重編事件可以分為三個時間點：財務報表錯誤年度、財務報表執行重編年度以及重編後的次一年度。就財務報表發生錯誤年度而言，本研究發現該事件會伴隨較高的審計公費，但是無論是執行重編年度或次一年度，均未發現顯著提高公費的證據。除此之外，本研究也未能獲得審計委員會之設立與審計公費有統計關聯性的證據。具體而言，除了傳統審計公費的解釋變數之外，本文未能發現財務報表重編及審計委員會與審計公費有關之證據。 / Audit fees is one of the major factors affecting quality, and there are many audit firms in China, so it is easier to produce vicious competition . Furthermore, the number of Chinese listed company which has restated financial report is increasing in recent years. So, with a sample of A-share listed corporations in China from 2004 to 2008 , this dissertation develops a conceptual model for studying the relationship between financial restatement and audit fees. Financial restatement can be divided into three time points: the year when an error occurred in the financial report , the year when the financial report is restated ,and the year after the financial report is restated .In terms of the year when an error occurred in the financial report , this dissertation find the event associated with higher audit fees ,but in other two time point , this dissertation doesn’ t find the evidence of significantly increased audit fees. Moreover ,there is no statistical significant relationship between setting up an audit committee and audit fees. Specifically, in addition to the traditional explanatory variables, this dissertation can’t find the evidence that financial restatement and setting up an audit committee are related to audit fees.

台灣過去以製造業聞名全球，然而成本的降低終有其限度；隨著政府兩兆雙星方案的提出，將數位內容產業列為重點培育產業之一，也開啟了台灣往知識經濟前進的腳步。然而高風險的特性，也使得多數數位內容業者，在融資方面遭遇相當的困難。特別是過去以有形資產為擔保品的銀行融資方式，更使得數位內容業者較難展現自己的價值。本論文以此情境為出發點，並參考國外數位容產業個案，引發對於相關融資方式的討論。 本研究以數位內容產業可能之融資手段為出發點，參照國外個案，以美國著作權證券化與日本製作委員會之融資方式為討論標的。美國著作權證券化最成功的案例，非大衛包伊個案莫屬。個案資料之豐富於廣受討論之程度亦為此系列之最；而日本的動畫產業亦向來我亞洲之冠，近來更廣受歐美市場的青睞。本論文以此二個案為標的，分析個案所處之情境，以產品所處之不同發展階段與資本市場成熟度，深入了解其融資方式之選擇策略。並兼論採取此種融資方式，所可能遭遇之困難與挑戰。最後並探討台灣之產業經濟環境，提出可參考改進之建議與作法，作為台灣改進數位內容產業融資問題可能的方向。 關鍵字：數位內容、融資、智財證券化、管理委員會 / Taiwan has been famous for its manufacturing ability. However, there’s a limitation with cost down strategy. Taiwan government has brought out the “Two Trillions & Twin Stars Industries Development Plan” in order to promote the development of certain industries in Taiwan, and Digital Content Industry is listed among one of them. The development of Digital Content Industry has presented the progress toward knowledge based economics of Taiwan. However, the high risk characters have resulted in the difficulty of finance for digital content business. Especially collateral requirement is making digital content players even harder to show their value. This research is based on this situation to discuss related financing methods and refers to some cases. This research is based on the possible financing methods for digital content industry, and using copyright securitization in America and Cinema Production Committee in Japan. The most famous copyright securitization case in America is David Bowie securitization, and the related comment and information is also richest. The Japan animation industry is always the best of Asia, and is popular in Europe and America recently. This research is focus on the two topics to analyze cases. The research uses the different product development stage along with maturity degree of capital market to analyze the selection of financing methods. Also, the possible difficulties and challenges are discussed. The research also talks about the digital content industry and economic environment in Taiwan, and make possible suggestions to improve the progress of digital content development in Taiwan.

This study first examines whether equity-based compensation (i.e., stocks and options) is associated with audit committees’ oversight failures. I then examine whether this association between equity-based compensation and oversight failures is affected when firms initiate the clawback provisions in their compensation contracts. I use the likelihood of restatements, the incidence of internal control weaknesses (ICW), and earnings management measures to proxy for audit committees’ oversight failures. Based on a sample of 129 firms that voluntarily adopt the clawback provisions during 2003-09 and a matched sample created from the propensity score matching technique, I find several important results. First, larger amounts and portions of stocks and options are associated with higher restatement and ICW likelihood and greater earnings management. Second, equity-based compensation appears to harm audit committees' oversight effectiveness. However, the adoption of the clawback provisions significantly mitigates such negative effect. Finally, the clawback provisions are effective in reducing restatements, ICW, and earnings management only when these provisions are triggered by "bad faith" rather than restatements. Overall, my empirical results bear policy implications on audit committees’ compensation practice and the mandatory adoption of the clawback provisions.

金融秩序之維持基於金融機構的穩健運作，金融機構穩健運作之關鍵來自內部控制制度的落實，而此一制度係建構在公司治理—強化經營者責任上。2013年底，我國公司治理機制一項重大變革為審計委員會之設置要求。因此本研究即探討審計委員會與內部控制缺失之關聯性。以2013年至2015年上市櫃金融控股公司（包含其銀行和保險子公司）以及上市櫃和興櫃的銀行及保險公司為研究對象。 本研究發現：審計委員會與內部控制缺失具統計上的顯著關聯性。審計委員會的設立與內部控制缺失呈顯著負相關；監督者（獨立董監事及審計委員會成員）會計或財務專業的比例，並未與內部控制缺失成顯著負相關，拆出分獨立董監事和審計委員會兩項不同監督機制，其成員會計或財務專業的比例與內部控制缺失也並未呈現顯著的負相關；金融控股母公司的獨立董事同時兼任子公司獨立董事，則與較多的裁罰件數成顯著正相關。另外研究也發現，部分會計師事務所與金融業者內部控制缺失呈顯著的負相關。 綜上結果隱含以下推論：審計委員會監督功能發揮，將幫助金融業者減少內部控制缺失的發生，不過獨立董事在同一金控體系兼任多家公司獨立董事的情形，並未有較佳的監督效果出現。由於我國金融業者發生的內部控制缺失類型多樣，因此在審計委員的安排上，除了會計或財務專業的審計委員，也可廣納其他專業的專家學者擔任，另外會計師事務所也可扮演完善內部控制制度的一個輔助角色。 / To find out the effect of the audit committee on internal control, this study examines the association between audit committees and internal control deficiencies.The samples are listed financial holding companies including their bank and insurance subsidiaries, bank, and insurance companies in TWSE and OTC in Taiwan over the period from 2013 to 2015. I find that the audit committees are negatively associated with the internal control deficiencies. However, there is no association between the audit committees of accounting or financial expertise and internal control deficiencies. Besides, I find that the circumstances that the independent directors of the financial holding parent companies also serve as an independent directors of the subsidiaries are positively associated with more incidences of penalty cases. Taken together, the empirical result indicates the association between the audit committees and internal control deficiencies in Taiwan financial industry.