研究目的：再評估策略在清醒時是廣為使用且能夠有效降低負向情緒的方法之一。若個人在睡前使用，應預期也能降低情緒而促進入睡。然而，調查研究卻發現睡前使用再評估策略的習慣與入睡歷程未有預期的正向關連。研究者回顧發現，再評估策略可能包含了各種不同性質的次分類，高控制性的再評估策略可能會導致過度激發狀態，影響入睡。本研究目的即在於比較控制性高（改變對當下情境的詮釋）與低（接受）的再評估策略，讓兩組受試者在使用不同策略後嘗試入睡，並詢問其入睡歷程下的主觀入睡經驗。預期高控制再評估策略會導致受試者較高的認知激發狀態，而在階段二睡眠喚醒後有較多人自陳仍有思考活動，較少人自認已經睡著，以釐清入睡前使用不同次分類再評估策略所造成的控制性認知活動，可能對入睡歷程帶來的影響。 研究方法：本研究共招募26名受試者，並隨機分派至接受組（13人，7位男性，6位女性，平均年齡23.6歲）與對當下情境詮釋組（13人，男性6位，女性7位，平均年齡24.9歲）。受試者皆須依序經過中性情境以及情緒誘發情境兩個夜晚。在情緒誘發情境下，主試者會對其表現給予負向回饋以引發情緒，接著依不同組別要求受試者在睡前使用不同再評估策略來調適情緒，隨後嘗試入睡。同時，主試者會在睡前測量受試者的認知激發狀態，並於進入階段二睡眠後，即時喚醒詢問其入睡歷程意識經驗，包含主觀入睡知覺（自評睡著與否）、思考活動（是否仍有思考）等。 研究結果：本研究結果顯示，睡前使用高控制性策略，的確造成較高的入睡前控制活動，形成較高認知激發狀態，影響入睡歷程。在階段二睡眠喚醒後，使用較高控制性策略的組別也較另一組有較高比例報告仍在思考，覺得自己尚未睡著，並低估自己有睡著的時間。 結論：本研究探討控制性不同的再評估策略對主客觀入睡歷程的影響。研究結果支持高控制性策略會造成認知激發狀態，並使受試者在客觀定義入睡喚醒後，仍有較多的思考活動與較少的入睡知覺，同時較低估自己有睡著的時間，顯示入睡前較高的控制性認知活動，的確可能影響受試者的入睡歷程。這支持了先前研究對再評估策略並非單一構念的假設，未來研究再評估策略時，須考慮其次分類才能有全面性的了解。最後，對照過去研究，睡前使用再評估策略的習慣與入睡歷程未有預期的正向關連，可能是與未考慮控制性有關。 / Objective: Reappraisal was found to be effective to decrease negative emotion, thus is considered to be an useful strategy for emotion regulation, because it was (Gross, 1998; 2001). Since negative emotion is associated with sleep disruption, reappraisal is supposed to facilitate sleep-onset. Nevertheless, previous study did not support this point of view (Harvey, 2001; Ree et al., 2005). There was a negative association reported between use of reappraisal and sleep quality in insomnia patients. Researchers have identified different types of reappraisal strategies (McRae et al., 2011) with different levels of controlling cognitive activity. The unexpected association between reappraisal and sleep might be due to the impact of increased level of cognitive activity associated with reappraisal. This study aims to compare the effects of two types of reappraisal strategies, change thought (high cognitive activity) and accept feelings (low cognitive activity), on sleep onset process. Methods: Twenty six participants were recruited for this study, randomized to one of two groups (Acceptance group: N=13, average age=23.6 years; Change group: N=13, average age=24.9 years). Each participant will go through two nights of sleep recording at the sleep lab. The first night was baseline condition; the second night was experimental condition. After the emotion induction, the experimenter instructed the participants to use different reappraisal strategies to regulate their emotion, and then asked them to try to fall sleep in the experimental night. The experimenter woke up participants after 5-min after the start of stage 2 sleep, and asked their subjective experience right before waking up, including sleep perception (sleep or not) and thinking experience. Results: As expected, the Change group had higher controlling cognitive activity and arousal level than the Acceptance group before going to bed. Then, after waking up participants on stable stage 2 sleep, the Change group had higher thinking experience, lower sleep perception and underestimated sleep time than Acceptance group. Conclusions: The findings of this research show that high controlling activity reappraisal could have a negative impact on sleep-onset period than low controlling activity reappraisal. The result supports our hypothesis that controlling cognitive activity can increase pre-sleep arousal level that further increase cognitive activity during sleep-onset period and decrease the perception of sleep.

台灣向來展現中小企業旺盛的生命力，近年來國際性評比的報告中指出台灣的經商環境與創業精神皆名列世界前茅，然而失敗是創業活動不可避免的一環，愛迪生曾說過：失敗也是我需要的，它與成功對我一樣有價值。既然人們說失敗為成功之母，創業家實際面對時是否能相信失敗具有價值？向失敗學習日趨重要，市面上亦增加許多向失敗學習以取代傳統成功典範的科普書籍，畢竟成功無法複製，卻能以失敗借鏡。從失敗的經驗累積未來進取成功的機會。本研究以曾有失敗或挫折經驗的創業家作為訪談對象，以深度訪談的方式，了解創業家失敗或挫折過後，針對前次經驗作內外部歸因的分析，進而讓創業家執行行為修正。 　　經過深度訪談與資料分析，本研究得出以下三點結論：(1) 面對原來的挫折時，所啟動的「敗因歸納－學習－反思與行為改變」歷程有下列影響：( i ) 內外部歸因前次的挫折，使創業家得到經驗學習的對象，進行反思。( ii ) 以前次的挫折為基礎，修正自我的行為，改變成不再犯同樣錯誤的。( iii ) 歷程過後，反思後得到內化後的能力將成為面對下次創業的依據之一。(2) 歷程中的行為改變可能引發控制錯覺，而成為下一次創業的失敗原因之一：當創業家在「敗因歸納－學習－反思與行為改變」歷程時，將針對前次挫折經驗視為學習與修正自我的對象，正因為創業家專注在解決與修正前一次的行為，使得歷程中的行為改變中，隱藏了下一次創業活動的行為盲點，而成為了當下檢討歷程的控制錯覺之一。(3)研究發現內外部的歸因與內外部資源有關聯：歷程中將內外部歸因以表格式的分類與分析，將敗因學習與行為修正所得到的回饋，轉而成為創業家實際的自我價值與資源。 / Small and medium enterprises in Taiwan have shown people their great vitality. Recently, the international business reports pointed that the entrepreneurial environment in Taiwan and Taiwanese entrepreneurship are almost on the top world. However, it is unavoidable to make mistakes when people stay in entrepreneurial process. There is a quotes spoken by Thomas A. Edison, “Negative results are just what I want. They're just as valuable to me as positive results.” People say that failure is the mother of success whether can entrepreneur really treat failure as a valuable experience? 　　 　　It has been more and more important to learn from failure. We can easily find lots of books talking about this topic. After all, success can’t be copied but people can be able to learn from failure. People can accumulate experiences from failure and make themselves to be success. This research examines how entrepreneurs do with reflection after being failure. Through interviewing 5 entrepreneurs who had been suffered from failure or frustrated experiences, researcher tried to understand the relationships between those experiences and entrepreneur’s behaviors by attribution theory.Through in-depth interviews and data analysis, there are three main findings. First, the process in “attribute frustration - learning from failure - reflection and behavior adjustment” has 3 significant impacts on the behavior of previous setbacks which help entrepreneur achieve. Second, the behavior adjustment in the process may trigger the illusion of control, which may become one of the failure reasons for the next entrepreneurship. Last, according to the research, the dimensions of attribution and the dimensions of entrepreneur’s resources have connection.

隨著銀行經營環境丕變，引發作業風險的可能性大幅提高。有鑑於此，巴塞爾銀行監理委員會於2003年公佈的作業風險與監督十項準則，且在2004年6月公布新巴塞爾資本協定，除信用與市場風險外，將作業風險納入資本計提範疇。同時，委員會也對作業風險給予明確定義，亦針對整體作業風險管理流程及作業風險資本計提方式有所規範。 隨著作業風險管理漸漸受到重視，作業風險由最初的傳統階段以內部控制及事後稽核進行風險管理，開始發展進入認知階段作業，此時金融機構開始意識到作業風險管理重要性，接下來進入監控階段，除了開始設定足以反映各項作業風險的風險指標來進行風險的追蹤，也開始進行風險的自我評估，且由於質化的風險指標無法滿足作業風險管理的要求，量化風險指標漸漸為各金融機構發展的管理技術；最後當其成熟後，作業風險管理就可納入整體的風險管理體系。 隨著金融機構的策略、組織、作業與系統及衡量四個構面，作業風險管理組織的架構也依金融機構需求不斷演變。本研究藉由研究作業風險管理架構的發展及作業風險管理的四項核心流程，探討在操作實務中可能面臨的挑戰，摘要結論及建議如下: 1.作業風險管理成功的關鍵在於公司董事會、管理階層及所有員工均需體認「改變是必要的」，且須獲得董事會及高階管理階層的承諾與支持 2.作業風險管理單位除了在組織架構上需符合「獨立」的精神外，需積極參與風險控管方案有效性評估及作業風險管理工具/政策的執行 3.為彌補內部稽核先天的不足，作業風險管理單位應針對關鍵性的控制活動，發展以風險為導向的查核工具，以肩負起預防問題、發現問題及評估內部控制有效性的角色，同時內部稽核應轉變為以風險為導向的查核制度，將查核重心放在銀行經營風險最大部分，方可協助銀行運用稽核創造更高的價值。 4.作業風險辨識及評估的結果應與現行的自行查核制度進行連結，同時自行查核題庫也必須適時調整以符合現況。

不同評估績效的長短顯著地影響基金的經營策略，相較於強調穩健經營的退休基金而言，此因素是否亦影響退休基金的運作，本研究嘗試應用隨機控制理論，將投資績效的時間因素納入決策考量，以隨機微分方程式描述退休基金資產和應計負債的動態隨機行為，以多期基金規劃的觀點，探討時間因素與最適策略之關連性。本研究應用Brennan、Schwartz與Lagnado（1997）的結果至負債導向的退休基金管理，建構多期資產負債管理模型，退休基金持有資產將分類為風險性的股票投資組合、長期債券和短期票券，並考量投資標的短期利率與長期利率之隨機性質，將基金提撥與資產配置視為可調節因子，給定風險評估測度，於不設定投資限制下計算各期最適投資比例及基金提撥；本研究並以私人退休金個案進行模擬分析，結果顯示此基金未來10年之最適提撥率介於4.2﹪與5.1﹪，就不同評估期限而言，5年評估期之提撥率於初期高於10年評估期，基金比率η=0.75之提撥率低於η=1；5年評估期之基金交易行為較10年期明顯劇烈，基金比率較低時，其交易變化程度較小，不同評估年限與基金比率將同時影響退休基金之最適提撥與投資策略。 / Distinct time horizons in measuring investment perfomance significantly influence the financial planning for the money managers. In this study, we explore this issue concerning the pension fund management that has focused on the asset and liability management to meet its future obligations. A stochastic control model is formulated in a continuous-time framework to obtain the closed form solution for optimal strategy. The time variation in expected returns introduced in Brennan, Schwartz and Lagnado（1997）is adopted in obtaining the optimal strategy using plausible future plan’s normal costs and accrued liabilities under distinct time horizons. Based on the proposed performance measurement, the optimal funding schedule and portfolio selections are determined dynamically without trading restrictions. A private pension scheme is selected and analyzed for numerical illustration. It shows that the optimal contribution rates are between 4.2﹪and 5.1﹪for this specific case. Comparing the funding schedules for distinct time horizons, we find that the contribution rates under 5-year period are higher than those under 10-year period in the beginning. The contribution rates given funding ratio at 75﹪are lower than those given at 100﹪. While the optimal trading behaviors of the pension fund managers for 5-year period are significant volatile than those for 10-year period. Their optimal trading behaviors have exhibited a reduced volatility under the lower funding ratios. The case study indicates that the distinct time horizon and the funding ratio play crucial roles in decision-making process for pension fund management.

在報禁開放後，由報業市場中不斷推陳出新的發行競爭以及目前三報鼎立 的發行態勢，本研究意欲探究報禁開放前後台灣報業發行作法的差異， 並以政治控制以及市場影響力的兩個方向，來思考形成台灣報業發行變化 的原因。在現存的傳播研究中，對於報業發行的文獻極為有限，而本研究 是第一份以報業立場分析台灣報業發行變遷的研究，一方面以報業整體的 發行狀況作為分析的起點，也以報業的觀點來分析台灣報業的發行競爭。 本文採取質化研究法中的個案研究法以及非結構性訪談法，藉著與台灣 北中南三地涉及報業發行業務的人士進行五十次以上的訪談，蒐集報禁 開放前後報業發行狀況的資料。研究結果發現，過去在報禁時期，台灣 吻合了發展中國家所普遍出現的媒介環境，為報禁政策提出合理化的 背書，而隨著經濟的發展，報禁政策對於報業發行發展的限制與控制則 愈來愈明顯，而在報禁開放後的自由市場競爭之中，強者愈強弱者愈弱的 報業發行特性，重塑台灣報業的發展趨勢。 / After the lifting of martial law in Taiwan

每月公告營收額實施由來已久，過去文獻之研究，其實證結果大多具有資訊內涵，惟該資訊之允當性如何及其與會計師簽證數之差異如何均未曾加以探討。本研究之目的乃在探討公告營收額與會計師簽證數間之差異狀況，並試圖尋求解釋該差異之因素與解釋模型。 　　本研究主要分為二部份：一為目前差異情形之分析，一為假說之檢定。文中以代理理論為基礎，導出董監事持股比例、經理人持股比例、長期負債權益比、總資產金額、已上市年度數、以及簽證方式等六個代理變數，並加入產業變數進行分析，以尋求最佳之解釋模型。 　　研究結果顯示：（一）敘述性統計顯示實施查核程序之調整金額常高於執行核閱程序之調整金額，在調整金額之方向則調低營收額之次數高於調高營收額之次數，而調整門檻粗略估計約為10萬元左右，調整金額之百分比大多在簽證數之20%以下。（二）迴歸分析實證結果得知：(1)董監事持股比例與差異數有顯著關係，但董監事持股比例愈高，差異數愈小。(2)經理人持股比例與差異數幾乎無關，其原因可能為經理人持股普遍太低，操縱營收額可能對其持有或出售公司股票獲利之誘因不大，也可能是因為營收額之允當與否，代表經理人是否盡了代理人之職責，若有太大差異可能會影響其報酬。(3)長期負債權益比與差異數幾乎無關，其原因可能為債務合約關注之重點為淨利、流動比率、利息保障倍數、抵押品等因素，而對營收額之允當性可能沒有規定或監督。(4)公司總資產額愈大，差異數愈大，此與假說相反，其原因可能為公司愈大，其業務較為複雜，以致產生差異之機率增高，再者公司設置監控系統之成本在目前國內證管會之要求下已固定，且其成本於上市公司並非重大，以致考慮成本效益之情形大為降低。(5)公司上市愈久，差異數愈小，此與假說相符，換言之，公司之內部控制愈好，差異愈小。(6)簽證方式不同，差異數不同，查核之差異高於核閱之差異，此與假說相符。

公營事業民營化儼然已成為九○年代的世界風潮，在我國自民國七十八年起正式宣示民營化政策迄今亦達五年有餘，然推行進度與成效及對經營績效是否具有正面效果的疑慮仍深植於許多人的心中。本文試圖從文獻回顧及國內實際個案對此一問題進行研究，但由於國內已有的個案數目太少且不具代表性及推行民營化的時間過短，很難採用完整的個案分析，故僅以其中兩個案作為代表，並輔以國外符合本研究目的之個案對所提出的命題做進一步的說明，以幫助了解該命題之實際意義。 　　經由國內外文獻探討後，本研究首先得出公營體制績效不彰的主因，藉以了解是否有必要以放棄公營體制的手段提昇經營績效，結果發現市場結構、資本市場不具競爭性及公營事業本身受到管制以致無法企業化經營等三項因素才是績效不佳的主要原因，因此乃以這三個因素作為本研究的自變數，並將公營事業民營化的定義擴大法律的解釋方式（依我國法律的規定，民營化的方式僅限於所有權移轉一項），觀察公營事業民營化在這三個自變數上的變化對經營績效有何影響，同時經由代理理論、財產權方面等文獻上發現，管理者是否有追求利潤的誘因乃是這些自變數影響經營績效的中介變數，因此乃形成本研究的研究架構。 　　在命題發展及理論建構上，乃根據本研究所提出的研究架構做自變數與經營績效關係之推導，分別為市場結構與經營績效、所有權與經營權結構與經營績效及企業化管理程度與經營績效，同時亦提出本之間的關係。本研究最主要的貢獻在於對「公有民營」的民營化方式對經營績效的影響做進一步的肯定，這種方式特別適合於該公營事業與政府關係處於對抗階段，且財務資金來源仍需依賴政府，對於我國的情形尤為合適。最後建議政府在民營化目標公司的選擇上，應考慮建構競爭環境的可行性及與政府之關係週期，且推行方式應更加多樣化，這對於推行成效及經營績效的改善皆有相當的助益。對後續研究者則建議能以本研究所推導的命題為藍本，進行個案或實證分析，使本研究能得到更進一步的確認。

現今資訊化的快速發展與科技的進步，多數企業開始打造適合現況流程的資訊系統，以輔助企業的業務流程，藉此加強企業本身的核心競爭力。而在當前網路經濟中，人們把多數的精力放在策略制定方面，而忽略了實施策略的部份。 本研究以管理控制的概念試圖補足企業績效衡量的盲點，提升實施策略執行的效益，以記憶體模組產業為研究對象，透過內部與外部的資料收集分析該產業架構以了解企業內外之環境。藉由深度訪談的方式，先釐清個案公司整體策略與競爭策略之架構，並以IDEF0 (Integration Definition for Function Modeling)建模方法為企業建立流程模型，藉此深入探討企業績效衡量的方法。 最後，透過雙構面的作業基礎成本制(two-dimensional activity-based cost)與平衡計分卡(Balanced Scorecard)的四構面將企業各構面的目標進行連結，進而建議個案公司建立以流程為導向並能反映策略的管理控制系統。 研究結果發現企業績效衡量上無法以組織整體面向統一進行考核，各部門只能仰賴部門主管的經驗以建立對應的衡量指標，經由研究將策略、流程與指標透過平衡計分卡、流程管理與作業基礎成本制的結合，讓公司以流程為基礎所建立的績效指標，能夠反映出公司的事實面、策略面與平衡面。 / Because of the improvement of information and technology, most of the enterprises are going to build the information system which is fitted for their current business process to strengthen their core competition. Currently, in the internet economy, manager who spend their major time on formulating the strategy, but invest less time on how to implement the strategy. This study attempted to compensate the blind side of the enterprise performance measurement by the conception of management control to promote the benefit of strategy implementation. This study is mainly probed a company in DRAM module industry. According to the information from inside and outside, it analyze the structure in this industry. Then, figuring out the structure of strategy by deep interview, and using IDEF0 to build the process model for case company to probe how they measure the performance. Finally, it used the two-dimensional activity-based cost and four perspectives of balanced scorecard to link the goal, then suggesting the case company to build a management control system based on process that could reflect their strategy. The results show that the case company couldn’t measure their division by the viewpoint of entirely organization. Each division only could rely on their manager’s experience to construct the measuring indicator. Via this study, it integrated strategy, process and measuring indicator by balanced scorecard, process management and activity-based cost. Giving a suggestion for the case company which could build the measuring indicator, and that could reflect the fact, strategic and balanced view for the company.

金融自由化、國際化與大型化潮流，使金融的傳統分工經營觀念逐漸被排除，政府為改善金融機構之經營績效，積極推動金融改革，引進金融控股公司制度，期促成金融機構大型化，以經濟規模改善金融機構之經營績效，鼓勵跨業經營，讓金融機構具業務多樣化，以達範疇經濟之利益。 　　我國金融控股公司法傚法美、日兩國制度，共同的重點乃在朝股權集中化，組織大型化，經營多角化，監理透明化發展。但因各地有各自不同之金融體制，歷史背景及金融體系淵源，各國對金融控股公司規範及意義也各有不同內涵。美國金控公司源自銀行控股公司，而以銀行業等存款機構為必要條件。日本以鬆綁證券，銀行及保險之隔離及控股公司之解禁為主軸，因此並未規定銀行為設立金控之必要條件，但金融機構仍以銀行為重心，因其業務廣泛，對消費者影響大，因此實際運作上仍以銀行為主要核心。美、日兩國以修改既有法令配套因應社會需求，而成立金融控股公司制度。台灣則單獨立法，檢視美、日法令適合國情者，一次立法以因應申請者需求，因此在法令適用上沒有時差，例如日本引進會社分割法及租稅優惠法，於2001年及2002年才分別立法，法令適用即有時間落差。 　　比較美、日、台三地相關金融控股公司，找出各自優缺點，作為他山之石，台灣金融機構特性為，規模小，家數多，競爭激烈，關係人交易，利益衝突盛行，產生高逾放。金控法規定之最低資本為200億元，因此金控法實施後申請者眾，造成金控公司林立。就個別金控公司之成立，提昇了其公司競爭力，與國外金融機構比較，台灣金融控股公司之競爭力，不論在資本額，可運用資產或產品設計，IT使用效率及交叉銷售的綜合效果，仍有相當大的努力空間。 　　因此，第二波金控公司的合併勢必進行，國內金控公司之跨業經營項目極需齊備，國外金控公司的架構大都具備保險、銀行、證券及資產管理等四項主要產品。國內金控公司的國際化，有迫切性需求，以應付國人理財及資產組合國際化趨勢。金控公司欲快速狀大規模，加強市場行銷，建立風險控管，取得良好信評，應尋求海外大型金控的合併或結盟，以提昇競爭力。 / Liberalization, globalization and expansion trend of the finance industry has gradually expelled traditional division of labor business model. In order to enhance financial institutions' business efficiency and advocate financial reform, the Government has introduced financial holding company system with an aim to enlarge financial institutions, improve business efficiency, encourage cross-industry business, and diversify operation so as to achieve the scale and scope economic benefits. 　　Taiwanese Financial Holding Company Act takes reference of American and Japanese systems. Although the common focus is on shareholding control, organizational enlargement, business diversification and crystal-clear compliance, each country has its own economy system, historical/financial background and resources, and therefore each country has different regulations and definitions for financial holding companies. American financial holding companies are derived from bank holding companies with primary conditions on deposits institutions of banks whereas Japanese systems focus on liberating securities brokers, separation between banks and insurance companies, and lifting of holding companies,. As such, Japanese financial holding companies system do not regulate that banks are the necessary component for forming financial holding companies. Neverthetless, banks are still the center of financial institutions as their broad business scope has immense impact on consumers and therefore banks are still the core of actual operation. U.S. and Japan's systems are derived from revising existing regulations to meet the actual demand of the society. Taiwan examine the American and Japanese systems and take whatever suitable for the Taiwanese society and legislate the financial holding companies system at one time and therefore there is no time difference. in regulation implementation Japan introduced Companies Separation Act and Preferential Tariff Act and legislated these two acts separately in 2000 and 2001 and as such, there is time difference in regulation adoption. 　　We try to identify pros and cons of each individual system comparing U.S., Japanese and Taiwanese bank holding companies. The characteristics of Taiwanese financial institutions are: small in size, large in numbers, tough in competition,, transaction of connection party, and conflict of interest which lead to high no-performance loan. The minimum capital requirement for Taiwanese financial holding companies is NT$20 billion at present. Ever since the opening of financial holding companies act, numerous applications were submitted and several holding companies have been established. In terms of each individual financial holding companies, the formation sharpens its competition. Nevertheless, in comparison with overseas financial institutions, there is still room for improvement on capital amount, effective asset or product design, IT application and combined effect of cross selling. 　　I therefore view that second merge of financial holding companies will be in place. Taiwanese holding companies are required to increase cross-industry products well in time. The structure of overseas financial holding companies mostly consist of four major components, i.e. insurance companies, banks, securities brokers and asset management companies. It is imperative for Taiwanese financial holding companies to globalize as soon as possible to meet the increasing international portfolio demand of local investors. In order to further increase its competition, financial holding companies are required to enlarge its size quickly, strengthen marketing ability, establish risk management system, receive good credit rating and seek strategy alliance of large overseas holding companies.

本研究以力霸集團為個案研究對象，從決策及資源分配掌控者觀點定義該集團企業之最終控制者，首先分析力霸集團企業之董監結構及股權結構，並針對該集團之公司治理機制說明對內部控制議題及財務舞弊之影響。 研究結果顯示，力霸集團企業之最終控制者王又曾家族係透過交叉持股及掌握董事會席次控制權等控制途徑掌控集團企業，其集團內七家公開發行以上公司的平均直接持股率、股份控制權、盈餘分配權分別為7.72%、28.92%、6.81%，但平均席次控制權則高達95.33%，股份控制權（席次控制權）與盈餘分配權偏離差之平均值則達22.11%（88.52%）。力霸集團企業席次控制權與盈餘分配權嚴重偏離之個案研究發現，符合經營者之經營誘因不足，而財富侵佔動機較強之學術假設。此外，該集團企業亦嚴重違反內部控制制度中控制環境、風險評估、控制作業、資訊與溝通，以及監督機制等主要原則，造成投資人權益的重大損失。最後，本研究針對內部控制制度之有效性、公司治理機制、會計師責任，以及金融監理功能四層面，提出討論及建議。 / Using the Rebar Business Group as the case of this study, the present research first analyzes the ownership structures of the member firms from an ultimate controller perspective. Internal control related issues are then identified, followed by a discussion on the effect of corporate governance on internal control weakness and fraudulent reporting. The analysis indicates that cross-holding, pyramid structure and seat control over the board members are venues utilized by the Wang Family to actively control Rebar Business Group. An analysis on the measurement of voting right, cash flow right and board seat-control shows that direct shareholding, voting rights, cash flow rights are on average 7.72%, 28.92%, 6.81%, while the board seat-control ratio is 95.33%. The deviation between voting right (board seat-control) and cash flow rights is 22.11% (88.52%). To the extent that ownership and control is highly deviated, a weaker disciplinary effect and a stronger entrenchment effect can be expected. In addition, this research also finds that all principles buttressed in building a sound internal control system are violated. Finally, suggestions for improvements on internal control system and policies are provided.