在大眾運輸導向（Transit-Oriented Development, TOD）所推行的捷運站區土地混合使用政策的背景下，本研究探討住商混合使用對於住宅房價之影響。本研究之研究假設有三：第一，不同空間尺度的混合使用，會對房價形成不同的影響；第二，其他土地使用種類越多，住宅房價越高；第三，商業使用之量體大小，對於房價形成不同的影響。本研究以台北市住宅為研究對象，研究時間為2001年，樣本數670 份。分析工具包含運用地理資訊系統(Geographic Information Systems, GIS)進行空間變數處理，以及多元迴歸分析（Multiple regression analysis）進行統計分析。研究成果驗證研究假設，於同棟及同街廓的空間尺度中，住商混合對住宅房價造成下降的影響，而相鄰街廓的住商混合使用使得住宅房價提升；且相鄰街廓混合使用種類越多，住宅房價越高。研究結果可做為政府擬定土地使用管制計畫之參考。

成本法為估價三大方法之一，其中折舊率之掌握至今仍無定論，Malpezzi et al.（1987）、Smith（2004）指出，由於土地無實體損壞及功能性退化，故利用特徵價格法分析折舊時，分析主體包含土地，將造成折舊的低估，而國內先前研究亦指出，分析主體包含土地，可能是使其分析結果不合常理的原因。本研究採特徵價格法，以台南市透天建物為對象，實證結果與Malpezzi等之論點一致，即不包含土地之價格函數，確有較高的折舊率，且呈現凸向原點之折舊型態。不動產價格模型亦顯示，建物壽命前期價格逐年下跌，但至後期將反轉向上，反應出土地之再開發價值。 此外，依不動產估價技術規則之規定，求取建物價格時似乎未考慮外部性退化之價值減損，或將其視為與剩餘經濟耐用年數相關。然而Colwell and Trefzger（1994）指出負面外部性將同時影響土地與建物，本文實證結果發現，外部性退化除對土地價格造成影響外，事實上對建物價格亦產生價格減損效果。此外，外部性特徵對於建物價格之影響視兩者距離相鄰程度而定，故不應將外部性退化視為與屋齡相關，而於考量後推估建物剩餘經濟耐用年數。 / In this paper, we verify that estimated depreciation rate is higher when the land price has been extracted from single-family house prices in Tainan, and the depreciation pattern of building is convex to the origin. We also find that property prices will decrease in the early years and then turn to increase; this phenomenon may testify the benefit in land redevelopment. Moreover, this study shows that external obsolescence would reduce not only the land price but also the building price when the surrounding is unattractive, and the decreasing figures caused by external obsolescence shouldn’t base on house age, but distance between house and unattractive objects.

行動電話基地台設施近年來已逐漸成為一另類「鄰避設施」，然而其對於周遭不動產價值減損程度如何，國內尚缺乏相關研究。本文首先採用問卷調查法以瞭解居民對於行動電話基地台的相關看法及居民認知行動電話基地台對於住宅價格的影響程度；其次運用特徵價格法對於實際不動產成交價格資料，以迴歸分析方式驗證行動電話基地台對周遭住宅價格是否有影響及其影響程度。 研究結果發現無論問卷調查或特徵價格實證分析皆顯示行動電話基地台對周遭住宅價格影響是負面的，問卷調查的受訪者普遍對基地台設施存有負面觀感，且有高達54.4﹪的受訪者認為該設施對周遭住宅價格的負面影響程度在10﹪以上；而在特徵價格實證分析方面，研究地區內房屋所在樓層較高者（七樓以上）相較於較低者（七樓以下），其住宅價格更容易受到行動電話基地台設施的負面影響，而住宅價格因距離行動電話基地台遠近因素所受到折損程度平均約為2.35﹪，惟行動電話基地台設施之可視性因素對住宅價格的影響並不顯著。 / The cellular phone towers has become another NIMBY, although the absence of domestic research for how detract from real estate's value. The article first use the Questionnaire Investigation method’s way to realize that people’s opinion of cellular phone towers and cognition of the effective level of cellular phone towers on house’s price ; secondly use Hedonic Price Method on real estate's value, by using Regression Analysis’s way to prove the impact of cellular phone towers on house’s price . In which we found no matter Questionnaire Investigation or Regression Analysis both announces that the effective level of cellular phone towers on house’s price is negative, there are up to 54.4% of subjects involved in the survey though that the negative influence is above 10% ; on Hedonic Price Method’s way, the house whereabouts higher stairs on the area of researchs, its price is more easy effected by cellular phone towers than the lower one. And the house's price is effected by the distance of cellular phone towers that the average of detractive level is about 2.35%.Only the effect on cellular phone towers of the cause of visual by house price was not broad.

隨著社會經濟結構的轉型，目前台灣已邁向服務業為主的社會型態。為應該服務業及商業所需的辦公空間，因此辦公大樓陸續的興建。隨著近年來不動產的投資興盛，辦公大樓成為了外資或者保值的投資選擇。而判斷辦公大樓價值的標準即為該大樓所能創造的收益為何。辦公大樓的收益為租金，因此了解影響租金組成的因素，能夠提供我們在進行投資決策時一個參考的依據。但過去已有許多租金影響因素之研究，是以本研究擬從不同的觀點切入來探討租金的成因。 近十年來，國內許多豪宅或者知名的辦公大樓引進入物業管理的方式，取代了過去由管理委員會主導的管理模式。物業管理的興起，乃是人們對於住宅安全以及管理品質引申需求。對於物業管理的研究，國內目前仍著重在管理績效的衡量以及利用電腦提升物業管理效率的部分，鮮有探討辦公大樓租金與物業管理之間的關連。是以，本研究以台北市六行政區的辦公大樓為標的，利用特徵價格模型(Hedonic Price Model)和BOX-COX轉換，從物業管理的觀點來探討辦公大樓租金的影響因素。 / In Taiwan, business has become the main economic activity. The more prosperous business is, the more office spaces are requested. To understand the composition of office rent, hedonic price model is used as an analysis tool frequently. The varieties, such as age, distance of MRT, or standard floor, are usually used as the hedonic varieties. When property management is getting popular in the decade, there are few research use property management as varieties. To understand if the difference of property management style would affect the office rent, this essay used Box-Cox translation and Semi-Log regression to analyze the relationship between property management and office rent.

由於過去數年間金融業者對於授信品質控管的鬆散，產生國內數量及金額龐大的不良債權，資產管理公司也在此時先後成立，不良資產市場亦因而逐漸熱絡，在整體不動產市場占有一席之地。 從過去文獻可得知影響不動產價格之因素數量眾多，但過去較重視實質屬性對於不動產價格之影響，而較忽略非實質因素對於處分價格的影響，其中有關討論時間因素之研究更為稀少；然而由於不良資產同時包含了一般不動產的特徵屬性（如土地、建物面積及區位）與不良資產專有的特徵屬性（如債務人屬性、處分時間），因此進一步研究影響不良資產處分價格之因素便相對重要。 本研究目的主要在於探討影響不良資產處分時間因素對於不良資產處分價格之影響，以供投資人或公司更重視時間因素對於處分不良資產所產生的成本與效益，作為相關單位評估與處分價格之參考。 因此，本文首先探討影響不良資產處分價格之因素種類，並透過特徵價格法建置不良資產特徵價格模型，並進行實證分析，分析探討時間以及相關因素對於不良資產價格的影響關係與程度。 實證結果顯示處分時間、區位、土地面積、建物面積、利率與債務人屬性對於不良資產處分價格有正向的影響力，唯利率因素雖顯著但與假設不符，本研究認為與投資人之行為與心態有關，或因買方之資金成本隨利率提高而增加。 另特別就處分時間因素而言，實證結果顯示當不良資產處分時間越長，價格越高，因此，應合理延長標的物之市場曝光期，以提高資產的處分價格。雖然延長處分時間，相對機會成本亦增加，但投資人或金融機構應在法務流程上更有彈性，以利不良資產的回收。因此藉由本文之研究成果，希冀提供金融機構或資產管理公司處分不良資產時，應謹慎考量處分時間與處分價格間的得失權宜，擬定最適處分策略。 / Due to the loosening credit in the past few years, Taiwan’s non-performing loans, both in terms of volume and amount, burgeoned, resulting in rapid growth of establishments of asset management companies. NPLs consequently became one asset class that was highly sought after in the overall real estate market in Taiwan. From past literatures we understand that there are various factors affecting real estate prices. However, most studies focused on the physical attributes of the underlying real estate, rather than non-physical attributes’ effect on real estate prices. Even more rare are studies that focus on the impact of time. Since non-performing loans encompass both performing real estates’ attributes (land and building area, and location) and non-performing real estates’ attributes (characteristics of debtors and days on market), further study on such factors that affect the real estate prices should be warranted. This paper is to probe the effects of days on market on non-performing loans’ prices. This paper should help investors (including asset management companies) understand the importance of time in regards to its effect on the cost and benefits when disposing NPLs. Therefore, this paper first explores the different factors that affect the prices of NPLs by using Hedonic price method to build models to determine the prices, and then uses real examples to analyze the relationship and magnitude of time and other factors’ impact on NPLs’ prices. Empirical data suggests that days on market, location, land area, building area, interest rate, and borrower types all have positive impact on the prices of NPLs. Interest rate, although showed positive relationship, did not fit the hypothesis, which is probably due to investors’ behavior or mindset or increase in cost of funding as interest rate rises. Specifically for days on market, empirical results manifest that the longer the time on market, the higher the resolution price is. Therefore, it is recommended to reasonably lengthen the days on market to achieve higher resolution price. Although the increase in days on market will increase the opportunity cost, investors and financial institutions should be able to enjoy more flexibility in the legal process, thereby resulting in better recovery. Finally, through the research of this paper, financial institutions and AMCs should carefully consider the cost/benefit between time on market and resolution prices to achieve optimal resolution strategy.

設H是一個實數正交的矩陣，我們要求它的特徵值以及特徵向量。H可以表示成Schur參數的形式。根據Ammar，Gragg及Reichel的論文，我們把H的特徵問題轉換成兩個元素由Schur參數決定的二對角矩陣的奇異值(奇異向量)的問題。我們用這個方法寫成程式並且與CLAPACK的程式比較準確度及速度。最後列出一些數值的結果作為結論。 / Let H be an orthogonal Hessenberg matrix whose eigenvalues, and possibly eigenvectors, are to be determined. Then H can be represented in Schur parametric form [2]. Following Ammar, Gragg, and Reichel's paper [1], we compute the eigenproblem of H by finding the singular values (and vectors) of two bidiagonal matrices whose elements are explicitly known functions of the Schur parameters. We compare the accuracy and speed of our programs using the method described aboved with those in CLAPACK. Numerical results conclude this thesis.

法拍屋的價格一般都低於市價，因此使得購屋者在尋找便宜屋及投資者在謀取高報酬之心態下，都紛紛走入法拍屋市場，使得法拍屋已成為預售屋及中古屋競爭的對手，而成為另一受矚目的焦點。目前國內對法拍屋市場的相關研究仍然很少，為了對這房地產界的新寵兒－法拍屋有更進一步的認識，本研究以特徵價格理論(Hedonic Price Theory)作為研究的理論基礎，依據民國八十一年到八十四年台北市的法拍屋資料，作為實證分析的樣本，以探究法拍屋與一般房屋價格的影響因素之差異與價格上之差距有多少﹖法拍屋底價、得標價格與拍定機率的影響因素為何﹖有何差異﹖何時進場拍定的機率最高等。 經過一年來之研究，本研究得到以下結論。 在標準住宅與標準法拍屋價格之比較方面，民國八十一年時，標準法拍屋的得標價格較標準住宅的價格低約一成三﹔而民國八十二年時，標準法拍屋的得標價格較標準住宅的價格低約0.2成，可見並未到達一般人所認為「低二成」之看法。 在法拍底價與得標價格影響因素之比較方面，法拍底價除拍次一變數與一般房屋價格之影響因素較不同外，其他的影響因素皆相似，都同樣受建物面積與所在樓層之影響較大﹔而得標價格則與兩者的影響因素均有顯著之差異，受到法拍特徵相當重要之影響。 在拍定機率與價格影響因素之比較方面，當拍次增加時，法拍底價與得標價格均會隨之降低，而拍定機率則因價格之降低而逐漸提高﹔平均以第五拍時之拍定機率最高，消費者或投資者可考慮在此時進場競標。一樓的價格最高，其拍定機率也較其他樓層高。房屋的使用現況對價格之影響並不顯著，亦即空屋、出租與其他使用間價格的差距並不大﹔但在拍定機率上，其他使用之拍定機率則較空屋及出租時高。市區的法拍底價確實較市郊高，但得標價格則無顯著的差異，而市區的拍定機率確實較市郊高。 點交與否對法拍屋底價、得標價格及拍定機率並無顯著性的影響，歸納其原因為﹕會投入法拍屋市場的人以投資客居大多數，所以投機因素佔了重要的原因，而使得點交與否的重要性相對減低了。

In this thesis three methods LMGS, TQR and GR are applied to solve an inverseeigenvalue problem. We list the numerical results and compare the accuracy of the computed Jacobi matrix $T$ and the associated orthogonal matrix $Q$, wherethe columns of $Q^T$ are the eigenvectors of $T$. In the application of this inverse eigenvalue problem, the Fourier coefficients of $h(x)=e^x$ relative to the orthonormal polynomials associatedwith $T$ are evaluated, and these values are used to compute the least squarescoefficients of $h$ relative to the Chebyshev polynomials. We list thesenumerical results and compare them as our conclusion.

由於環境品質改變之成本或效益沒有一個直接的市場可以衡量，為了 克服此一問題，Rosen 於1974年提出特徵價格法完整的理論架構。其利用 差異性財貨之價值受其所具有之不同屬性數量影響，於是可用計量方法將 個別屬性之價值導引出來。本文即是利用Rosen 所提之二階段過程，分別 估計台北、台中、高雄三地區之特徵價格函數，然後利用第一階段所獲得 之價格資料進行第二階段逆需求函數的估計。本研究除了進行上述二階段 之估計，另外以高雄地區為例，計算該地區因水泥廠存在，PM10濃度增加 對當地房地產價格之影響，此一影響也就是水泥廠存在PM10濃度增加所造 成的社會外部成本。 / The measurement of the benefit of environmental improve-ments is difficult because typically there are no markets for environmental guality. However, one can observe behavior in markets that are related to environmental guality , and it is sometimes possible to measure people’s willingness to pay for the environmental goods by using data from these markets. Hedonic methods is one of several techniques for doing this. Hedonic methods are based on the realization that some goods or factors of production are not homogeneous and can differ in numerous characteristics. My study follows the theoretical model that provided by Sherwin Rosen in 1974.According to Rosen’s model, estimation requires a two-step procedure. First, estimate the hedonic price function. Second, estimate the demand function for air guality(PM10’s density). At last , I try to estimate how much the cement plant decreases houses price. In fact , the estima-tion is equal to measure the external cost caused by the ce-ment plant around Kaushang area.

不動產法拍屋市場中，是否受到總體經濟環境變化或金融風暴來襲，而影響拍定價相對於第一拍底價之比率？是本研究所探討的課題。除上述總體經濟因素外，是否尚有其他因素如法拍屋個別屬性影響拍定價對底價比？本文藉由上述各項因素存在與否，探討法拍屋拍定價對底價比和各變數間之關係，得以建立法拍屋拍定價對底價比之變數模型。 本研究以特徵價格理論探討影響台北市士林區法拍屋拍定價對底價比之變數，並以迴歸分析方法分析影響法拍屋拍定價對底價比之因素，及其影響程度，並藉此探討當市場發生重大金融事件或總體經濟環境變化時，是否影響法拍屋之拍定價對底價比。實證結果發現：影響法拍屋拍定價對底價比之顯著變數如下： 一、法拍屋個別屬性：是否為一樓、競標數呈正相關，屋齡呈先負後正曲線關係，拍定次數呈負相關。 二、總體經濟變數：拍定前月放款利率、拍定前季是否經濟衰退或金融風暴呈負相關。 本文探討影響法拍屋拍定價對底價比之變數，研究結果期能提供地方法院訂定第一拍底價及酌減各拍次底價之參考、投標人決定投標價及選擇最佳進場時機之參考、地方法院委託之不動產鑑定人於法拍屋估價時，價格調整幅度權衡的參考、以及債權人決定是否執行及續拍之參考。 / Real estate markets are affected by macro economic factors, regional factors and individual factors. As there is recession in economy growth, the number of foreclosed properties increased. How are the prices of foreclosed properties influenced by the aforementioned factors? This study intends to explore factors affecting the ratio of the final transaction price to the listed base price in the real estate auction markets through the Hedonic Price Model. Results show that the first-floor effect, number of bidders and age of the buildings are positively related to the ratio of the final transaction price to the listed base price in the real estate auction markets. Numbers of auctions, interest rates, and the occurrence of the financial crisis in the previous season are negatively related to the ratio of the final transaction price to the listed base price. Results of this study provide precious reference value on formulating the listed base prices on the real estate auction markets. Investors can also take into account of the significant factors in making the investment decision in the auction market.