我國近年來經濟犯罪案件層出不窮，這些經濟犯罪案件，皆對社會經濟秩序造成嚴重 之影響，且由於各項案件均牽連甚廣，受害者動輒上千人，更引發了嚴重之社會問題 ，所以我們今日實應重視這個問題。 若仔細探究近年來各項經濟犯罪案件，便可發覺其皆與操縱損益有關，亦即利用操縱 損益之手段，捏造不實之財務報表，以達其舞弊之目的，因此我們如欲杜絕經濟犯罪 之再度發生，實應對損益操縱之各項手法加以了解，若能了解各項操縱之手法，對於 各項經濟犯罪，相信必能防患未然。 企業損益操縱，其意係指管理人員運用某些方法或程序使淨利數字達到管理人員所預 期的目標。損益操縱之方法，可分為管理舞弊層面與會計層面二種：所謂管理舞弊層 面之損益操縱方法，係指偽造不實交易，或蓄意歪曲交易之表達者；而會計層面之損 益操縱，係由於會計處理本身具有彈性所致，前者應屬違法之行為，而後者為一般公 認會計原則所允許為合法之行為。 本研究之重心，在探討損益操縱之各項方法，及管理當局進行損益操縱之動機，希望 能對企業損益操縱之行為有更深一層的認識。

從文學史的觀點檢視杜牧七絕的表現，具有承繼與新變的貢獻，既承接前人的餘緒，又能獨創個人的詩歌風格，甚且開啟晚唐詠史七絕的風氣，繼而影響宋詩好議論的文學特色。杜牧的七絕，創作於風雲變幻、多事之秋的晚唐，保持獨特的風格，取得了高度的藝術成就。 本文先對杜牧的生命歷程與所處的時代做一宏觀的俯瞰，由家學淵源、仕宦之路、交遊情況、文學特色方面來探討，其對杜牧詩歌創作的影響，做為深入分析杜牧七絕詩的基礎。 杜牧七絕表現出多元的形式結構，在色彩的運用上，喜以大自然的色澤為師，色調趨於明亮清新，呈現出和諧純淨的詩畫意境。在數目字的使用上，自然得宜，能精當地利用數字表達情感。在用典技巧上，能「融化斡旋，如自己出」把典實的骨幹放置在自己的語意脈絡之中，達到擴大詩意的效果。在句法節奏上及平仄用韻上，皆能配合情感的需要而靈活運用，達到輔助情境、內外和諧的藝術境界。 杜牧七絕在主題內涵及其題材表現上，意涵豐富多樣，有個人情志與家國理想的抒發、詠史懷古的感慨與寓託、女性形象與女性命運的書寫、思鄉送別的離情與思憶、傷春悲秋與即景詠物的感懷等面向。其中詠史七絕最有特色，被譽為「二十八字史論」具有創新與啟後的貢獻。而女性形象與女性命運的書寫相當獨特，表達出高度的人性關懷，是當代文人所沒有的。杜牧在寫景抒情方面的表現更令人激賞，能在景物中融入個人的情感色彩，筆法新穎獨到、形象生動鮮活，宛如一幅圖畫。 杜牧七絕的意象經營，在深度和廣度上俱十分可觀，能在短短四句當中營構出豐美的詩歌意境。其中在時空意象的設計上最富變化，杜牧善於依其所要表達的情感，而設計詩歌中的時空情境，顯現杜牧七絕的內蘊與情感之美。其他還有季節意象、自然意象、酒的意象等，皆經營的相當成功。至於杜牧七絕的藝術特色，為鮮明的史論精神，能將議論融入形象之中，具有獨創性。而其風格表現，為俊爽明快與含蓄蘊藉兼而有之，杜牧能將這兩種相反的特點結合起來，形塑出其獨特的藝術風貌，在晚唐各派詩風中特立突出，綻放異彩。 綜合以上的分析，杜牧七絕的文學成就，在傳統文學的洪流中，不但能走出傳統巨大的陰影，而且相較於同時期的詩人，亦能獨創自我的詩歌風格與特色。回顧前人的研究成果，尚未有對杜牧七絕作此完整而深入的探討，本論文以不同的角度切入，發掘杜牧七絕詩歌的成就，希望藉由本文的研究成果，能對杜牧詩歌的研究上，拋磚引玉，略盡綿薄之力。 關鍵字：杜牧、晚唐、七言絕句、色彩、數字、用典、詠史懷古、女性形象

本研究係探析保險業在監理管制下，若有違監理標準之虞時，其經理人是否興起盈餘管理的動機，以避免不必要的監理成本。蓋保險監理最重要的目的為預防保險公司失卻清償能力，以保障被保險人的權益，並維持金融安定。在實施風險基礎資本制前，邊際清償能力的標準仍以保險法第143條第一項之規定為依歸，即保險業認許資產減除負債之餘額，未達實收資本之45%時，主管機關應命其於限期內，以現金增資補足之。若保險業不依第143條規定限期增資補足者，保險法第149條第二項授權主管機關應依情節輕重，分別處以派員監理、撤換負責人或有關人員、限期改組、甚至命其停業或解散。故本研究預期清償能力不佳的保險公司，其經理人會動用裁量性應計項目調整財務狀況，以跨過清償能力標竿，避免受到監理機關的注意與查核。另外，保險法對於保險業資金運用管道有所縮限，以驅使保險公司穩健地運用資金，預防保險公司因巨額投資損失致使清償能力敗壞。但隨著產業競爭度增強與低利率時代的來臨，保險公司在經營績效與保單預定利率的壓力下，是否會安於目前的投資限制，而放棄賺取投資報酬的機會。據此，本研究預期年度中持有短期有價證券總額超過或可能超過35%資金門檻的保險公司，其經理人會選擇處分位於利得部位的短期有價證券，以規避超過保險法第146條之1第一項第二款的門檻限制。同理，年度中持有合格的公司股票及公司債超過或可能超過35%資金門檻的保險公司，其經理人可能會選擇出售位於利得部位的股票或公司債，以規避超過146條之1第一項第三款的門檻限制。 　　在研究設計上，為捕捉各類操縱財務報表的淨影響，本研究採用總裁量性應計項目作為代理變數。在所有可用的裁量性應計項目估計模型中，研究指出Modified Jones模型顯示了相對較強的檢定力(Dechow et al. 1995)。因此本研究援引Modified Jones模型估計裁量性應計數字。其次，將該模型析出的裁量性應計數字與各類監理門檻距離組成一迴歸模型，以測試其關聯性強弱。實證結果如下：一、在產險業，保單持有人盈餘與實收資本之45%的距離愈小者，其盈餘管理幅度愈大。二、壽險業比較沒有利用裁量性應計項目來達到監理標準的動機。但依公司規模來看，大小公司行為仍有所差異，即相較於大公司，小公司利用裁量性應計項目來達到監理標準的動機較為強烈。根據本文實證研究結論，建議監理機關與被保險人應特別注意產險業及小壽險公司的財務狀況，並確認其清償能力之品質。 / This paper examined whether insurance companies have incentives to manipulate accounting accruals to appear more solvent and less risky. In Taiwan, virtually all industries are regulated to some degree, but insurance industry faces regulatory monitoring that is explicitly tied to accounting data. Insurance regulators required that insurers meet conditions for minimum financial health. It is frequency asserted that such regulations create incentives to manipulate financial statement to avoid regulatory intervention The primary hypothesis of this paper is that the incentive to manipulate financial statement is a decreasing function of the insurers’ difference between policyholders’ surplus and 45% of capital. This paper assumes that insurance managers use their reporting discretion to achieve solvency goal and avoid exceeding investment limits. Following Healy (1985), accruals-based measures are wide employed in test of earnings management hypothesis. In the past, the most frequency used techniques for estimating discretionary accruals are the cross-sectional versions of the modified Jones model. In this paper, the magnitude of earnings management is proxied by the discretionary accruals which are estimated by using a cross-sectional version of the modified Jones model and regressed by three differences of regulatory requirements which measure the insurers’ behavior under the regulation. The evidence indicates that when policyholders’ surplus of property-casualty insurers is closer to 45% of capital, the incentive to manipulate financial statement is stronger. On the other hand, life insurers have less incentive to manipulate financial statement, but relative to big size insurers, small size insurers have stronger incentive to meet regulatory requirements.

隨著產品的多樣化與複雜化，傳統的命名方式已不敷使用，廠商開始尋求不同的品牌名稱，因此產生許多異於以往的命名方式，其中數字性品牌名稱即為其中之一，Boyd於1985年發現越來越多企業採用數字性品牌名稱（alpha-numeric brand name）：「一個或多個數字，在搭配字母組合形成有意義的字或形成無意義的字」，有趣的是Pavia & Costa(1993)發現數字性品牌名稱會令消費者產生科技性的聯想，因此本研究便基於此論點深入探討消費者對於數字性品牌名稱搭配不同科技性程度產品的認知與影響。 本研究主要藉由焦點團體訪談發展假說與架構，結果發現消費者對於數字性品牌名稱不同的呈現方式有不同的認知與看法，因此本研究藉由實驗設計採集資料，研究分析結果發現以下幾點： 一、 消費者認為當產品科技性程度較高時，採用數字性品牌名稱的產品擁有較高的評價。 二、 消費者認為當產品為高科技性，數字性品牌名稱的數字部分用阿拉伯數字呈現擁有較高的評價；然而當產品為低科技性，數字性品牌名稱的數字部分則用英文單字呈現擁有較高的評價。 三、 數字性品牌名稱的位數長短以及字母與數字的前後順序並不會令消費者產生不同的認知。 四、 消費者對於數字性品牌名稱的不同呈現方式具有不同的聯想。

摘要 本文主要檢視中國大陸連續虧損公司面臨下市緩衝機制壓力時之盈餘管理行為。本文所謂的下市緩衝機制係指特別處理(簡稱ST)與特別轉讓(簡稱PT)的管制。具體而言，ST管制要求連續兩年虧損的公司，必須冠上ST標記，漲跌幅限制為5%(一般股票為10%)，中報需審計；PT管制要求連續三年虧損的公司，必須冠上PT標記，同樣有停板限制，僅允許週五交易。ST與PT管制設計原意係希望提高整體市場新陳代謝與營造理性投資的環境，但盈餘基礎的本質與保守的配套措施反而衍生盈餘管理與投機炒股。此下市緩衝機制實質之經濟後果為管制機關與投資大眾高度關注，但過去相關研究相當有限，本文希望藉由下列研究問題的探索以補充文獻缺口。 第一，中國大陸上市公司面臨下市緩衝機制漸進懲處時，管理當局如何進行盈餘管理以因應連續虧損門檻？第二，各群虧損公司次年扭虧次數與盈餘管理行為差異為何？第三，零損失的法規門檻如何引發盈餘分配的特殊型態；操控前盈餘與盈餘管理關係為何？ 依據1998年至2000年267家虧損公司樣本，實證結果簡要彙總如下：第一，虧損公司裁決性應計數字(營業外所得)顯著降低盈餘，特別在虧損第一個年度，此結果顯示管理當局意圖儲存盈餘以因應未來更嚴格制裁之緩衝。第二，ST股與PT股盈餘劇烈震盪，其盈餘型態分別呈現V字型與W字型。第三，1998與1999年連續三年虧損的公司次年扭虧百分比小於其他虧損公司；但2000年結果相反。主要理由乃中國證監會於2001年2月22日要求PT股在未來一年扭虧(過去為三年)，否則必須下市。第四，虧損公司次年盈餘分配集中於略高於零損失門檻的區間，隱含實質小虧的公司預支未來盈餘，實質大盈的公司儲存本期盈餘的可能性。第五，虧損公司次年扭虧時，操控前盈餘與盈餘管理呈現負向關係，且操控前盈餘越小的組別其盈餘管理越大。但持續虧損公司操控前盈餘與盈餘管理的關係並沒有系統性的結論。 本文實證結果顯示，中國大陸下市緩衝機制由於仰賴會計基礎管制，衍生相當普遍的盈餘管理行為。建議中國證監會應在下市決策中考量非盈餘資訊，投資大眾亦應關注盈餘以外的訊息以避免功能固著的迷失。 / Abstract This study investigates earnings management of Chinese listed companies subject to delisting buffer mechanism for reporting losses for consecutive years. The delisting buffer mechanism in China means Special Treatment (ST) and Particular Transfer (PT) regulations. Specifically, it requires that companies with two and three consecutive losses be labeled as ST shares and PT shares respectively. ST shares are subject to 5% price limits (one half of common shares) and their interim reports should be audited. PT shares are also subject to price limits and they are allowed be traded only on Friday. Although these regulations originally aim to maintain market’s metabolism and foster rational investment environment, their earnings-based nature and conservative schemes are likely to induce pervasive earnings management and speculation. Their economic consequences are a source of concern by regulators and investors, but previous study is relatively limited. Thus, this paper explores the following research questions to fill this void. First, how do Chinese listed firms manage earnings in response to consecutive loss thresholds, while facing the progressive sanctions of the delisting buffer mechanism? Second, what differences in positive earnings frequencies and earnings management exist among different group of loss firms in the following year? Third, how does the zero-loss regulatory threshold induce specific types of earnings distribution, and what relationship can be found between pre-managed earnings and earnings management? Based on a sample of 267 loss firms from 1998 to 2000, the empirical results are briefly summarized as follows. First, discretionary accruals (nonoperating income) of loss firms show significant earnings decreases, especially in the initial loss year, which is consistent with managerial incentives to save earnings for future more severe regulations’ cushion. Second, ST shares and PT shares experience large earnings volatility, and the patterns of ST shares and PT shares’ earnings generally look like V and W respectively. Third, percentage of positive earnings of firms with 3-year losses in the following year is less than that of other loss firms in 1998 and 1999, but more than in 2000. The underlying reason is the Chinese Securities Regulatory Committee requires PT shares have positive earnings within the next year rather than next three years after Feb 22, 2001, otherwise they are delisted. Fourth, earnings distribution of loss firms heavily clusters slightly above zero-loss threshold in the following year, which implies firms with small latent losses likely to borrow future earnings and firms with large latent earnings likely to save current earnings. Fifth, the pre-managed earnings and earnings management for loss firms reporting profits in the following year are negatively correlated. Furthermore, the smaller the pre-managed earnings are, the larger the earnings management is. However, the data reveal no systematic relationship between pre-managed earnings and earnings management for firms with persistent losses. Overall, the empirical results indicate that China’s delisting buffer mechanism, relying mainly on accounting-based regulation, induces pervasive earnings management. The findings therefore suggest that the Chinese Securities Regulatory Committee should consider non-earnings information into delisting decisions and investors look beyond bottom-line to avoid functional fixation.

本研究係以裁量性應計數字及其組成成分衡量盈餘管理，以審計人員產業別市場佔有率與產業別客戶集中度之綜合衡量捕捉審計品質，探討不同樣本公司之盈餘管理特性，以及審計品質對不同盈餘管理特性之影響。管理者對應計項目的認列通常有某種裁量權，此裁量權可用以顯露私有資訊而增進盈餘的價值攸關性，或可投機性地管理盈餘而減低盈餘為公司績效衡量的可靠性。所以探究盈餘管理行為是增加財務報告資訊性(information)或雜訊(noise)即非常重要。研究內容依盈餘管理特性區分為投機性盈餘管理與訊息發放性盈餘管理二大部分。每一研究內容則是先辨認盈餘管理本質，其次探討審計品質對盈餘管理之影響。在研究設計上，為避免實證代理變數之衡量誤差重大影響結果，乃採用實驗組公司與控制組配對公司相比較，以凸顯出前者之盈餘管理型態。 　　研究結果顯示，門檻公司從事盈餘管理以達前期盈餘門檻，且此盈餘管理不具未來現金流量持續性之涵義，係符合「隱藏當期不利績效、遞延本期不尋常盈餘至未來年度」以減低會計盈餘數字波動性之特性。就自願性盈餘預測此一資訊揭露工具而言，在盈餘預測偏屬樂觀之傾向下，仍有管理者自願揭露壞消息預期，即可知管理者之誠意，不失為一可資信賴之訊號。但自願預測盈餘增加，則不必然具有高公信力。甚至在管理者降低盈餘差距之動機下，易引起管理者操縱盈餘。此為財務報表使用者所需注意。就持股變動此一資訊揭露工具而言，在我國家族企業居多之情形下，增加持股並未代表任何特定之涵義。反而是減少持股所透露之訊息，值得投資人注意，尤須慎防其盈餘操縱行為。 　　面對增加所得之裁量性應計數字，審計品質有效阻止投機性盈餘管理。面對顯露私有資訊之盈餘管理，審計品質能夠協助管理者選擇最能彰顯未來現金流量預期之會計方法，以增強裁量性應計數字與未來現金流量變動之關聯性。在高審計品質所賦予之資訊公信力下，盈餘資訊在投資人之決策過程中有一定之重要性，故投資人發現裁量性應計數字增加（減低）盈餘價值攸關性，因而增加（減低）盈餘評價係數。然而對低審計品質所查核的財務報表，較低的資訊公信力，使盈餘未在投資人評價過程中扮演重要角色，因而盈餘管理特性亦不受投資人重視。 / This research examined characteristics of earnings management and effects of audit quality therein. Specifically, the magnitude of earnings management was proxied by the discretionary accruals, which are estimated using a cross-sectional version of the Jones model. Different from prior research, the audit quality was captured by a combined measure of the auditor's market share and client concentration. The market share measured the auditor's competence (industry specialty) and the client concentration measured the auditor's independence. Managers usually exercised discretion to recognize accruals. They could either signal private information to enhance earnings' value relevance, or opportunistically manage earnings to reduce the reliability of earnings as the performance measure of the firm. As a result, it was important to examine earnings management and to identify whether it would increase the informativeness or noise of financial reports. This study was organized according to the characteristics of earnings management: opportunistic earnings management and signaling earnings management. For both parts, the nature of earnings management was identified first, and then the effects of audit quality therein examined. To reduce the impact of measurement errors of proxy variables, the treatment group and controlled group were compared and contrasted to make earnings management pattern of the treatment group more evident. 　　The results showed that threshold firms managed earnings to sustain last year's earnings level. Discretionary accruals of the threshold firms were not significantly associated with future cash flow changes. Those discretionary accruals were used to hide the current unfavorable performance, or to defer current unusual earnings to the future, so that managers could reduce the volatility of accounting earnings. As a means of information disclosure, voluntary earnings forecasts tended to be optimistic, but we still could observe some voluntary forecasts which decreased earnings. In those situations, we might conclude that managers tried to convey credible signals. However, it was not necessarily credible in the case of voluntary forecasting which increased earnings. Managers would manipulate earnings to reduce the difference between forecasted earnings and reported earnings. In respect of the information signal of changes in directors' share holding percentages, it signaled nothing when directors increased holding percentages because most companies were family businesses in Taiwan. Nonetheless, investors should look out the possibility of earnings manipulation when directors decreased their holding percentages. 　　Audit quality could effectively deter opportunistic earnings management but not the income-decreasing discretionary accruals. Based on information signaling perspective of earnings management, auditors with higher audit quality tended to assist managers to choose accounting methods that might signal cash flow expectations. Stronger associations between discretionary accruals and future cash flows were observed for firms audited by higher quality auditors. Because higher audit quality might increase information credibility, earnings would play a more important role in the decision process of investors. When discretionary accruals increased (decreased) earnings' value relevance, earnings association coefficients would be increased (decreased). However, for the financial reports audited by lower quality auditors, earnings did not play an important role in the valuation process because of lower information credibility. Therefore, empirical results showed that investors of firms audited by lower quality auditors did not make decisions according to different characteristics of earnings management.

近年線上教學平台有著很大的發展，不管是國內的均一教學平台，或國外知名的可汗教育平台，都提供各種學科便利學生自主學習。而在高中化學計算的領域中，這些平台上均提供各種教學課程。美中不足的是在線上的練習系統中，往往題目數量少、題目變化少、無詳細解題步驟，這樣將不足以透過題目衡量一個學生在各個主題的學習上有無明顯的進步。 本論文的目的是改善上述問題。我們設計並實做一系統，只要使用者輸入簡單需求，即可自動產生高中化學問題以及伴隨詳細解答，可方便出題者快速產生各式不同主題的高中化學應用題目。我們的系統提供一個Web前端供使用者輸入所需要生成的題目之資訊。系統由此收齊相關參數之後，接著即可依據參數產生符合題目限制條件的化學問題生成模型。此問題模型為一hypergraph，節點代表已知或未知相關化學量，超連結(hyperedge)則代表數個化學量間的相依關係。有了此一以ASP(Answer Set Programming)表達的問題模型之後，系統即可利用ASP求解器(Solver)進行單一或多個題目生成，後續工作則是驗證每一生成題目之可行性並產生解題步驟，最後經由Django整合呈現於Web上。 / In recent years there has been great progress in the development of online learning. Well-known platforms such as international Khan Academic or local Junyi Academy in Taiwan provide courses in various subjects allowing interested students to study in a very convenient and autonomous way. As expected, courses on common subjects such as high school chemistry are offered with rich content by these platforms. However, there are shortcomings in these courses about the problems they provide for the students to practice or test. In addition to rich content, an ideal course should provide abundant problems of all possible topics, with each given detailed solution, so that students can evaluate their achievement of study by practicing or testing themselves with these problems. Unfortunately, no courses on these platforms meet the above requirements. The purpose of this thesis is to improve the above shortcoming by providing a system which can generate automatically word problems on various topics of high school chemistry, together with detailed accompanied solutions. Our system is a web-based application implemented using Django. It provides a front-end enabling the users to enter related information for the word problems they want the system to generate. According to the parameters collected from the front-end, our system will generate a corresponding chemical problem model. The model is a hypergraph with nodes representing known or unknown chemical quantities related to the problem and hyperedges representing relations or dependencies among these quantities. After the model is generated as a logic program of ASP(Answer-set Programming), the system will use an ASP solver to generate one or more candidate problems. Subsequent works are then used to verify the feasibility of each problem and produce a solution for the feasible one. Finally the generated problems as well as solutions are wrapped in the server side and then sent to and presented friendly in the client's browser.