壽險業的產品特性與其他產業有相當大的差異，它提供給消費者長期的保障承諾。因此，良好的企業形象是消費者進行購買決策的重要關鍵因素。 本研究主要目的在於探討影響壽險公司企業形象的原因，本文將壽險公司財務及業務經營兩大構面的績效指標分類，並以現代保險金融雜誌的企業形象統計調查結果～『最值得推薦的人壽保險公司』排名，進行迴歸統計分析，實證企業形象與經營活動兩構面之關聯性，以了解各項指標對企業形象之影響力，並提出經營企業形象的建議。 實證結果發現，壽險業企業形象的好壞與公司的財務面與業務面的經營績效均有相當程度關聯性，而業務績效指標則對企業形象的影響較大。且公司型態若屬於金控子公司或外商公司，亦對企業形象有顯著影響力。消費者對企業形象評估的觀點，不僅從財務績效評價，更在意經營品質。因此，壽險公司的經營應更加注重本業營運活動及服務品質，才能提升壽險公司本身的企業形象。 / This study attempts to analyze the relationship between corporate image and business operation of life insurance companies in Taiwan. Based on the performance indicators in underwriting and financial aspects, this study conducts regression analysis to find the influential factors for corporate image of life insurers. The corporate image measurement is based on the survey of “The strongly recommended life insurance companies” made by the Risk Management, Insurance & Finance Magazine in years 2005-2010. This study finds that both of underwriting and financial operations have considerable impacts on the corporate image of life insurance companies. The results indicate that consumers evaluate the corporate image based on not only the financial performance but also the quality of underwriting management, such as services provided by the insurers. Besides, the company types (e.g., subsidiary of financial holding companies or foreign insurers) also significantly influence the corporate image. The findings of this study suggest that the life insurance companies in Taiwan should pay more attention to the underwriting activities and service quality in order to enhance their corporate image.

本文以2000~2009台灣地區不含金融證券業之上市公司為樣本，資料來源為台灣經濟新報社資料庫(Taiwan Economic Journal)，研究主題為探討多角化與股利發放政策之關聯性，同時也檢測多角化程度愈高而經營績效較差或盈餘品質較差的企業與股利發放政策之關係，實證研究的結果顯示，多角化程度會影響股利發放政策，而多角化與股利發放政策呈現顯著負相關，企業多角化程度愈高，股利支付率較低、較不會發放股利及較不會增加發放股利，而這些現象主要是集中在經營績效較差或盈餘品質較差的企業。 / Based on a sample of firms listed in Taiwan during 2000-2009, this study investigates the relationship between firm diversification and dividend policy and the extent to which firm performance and earnings quality affect diversified companies in making dividend policy decisions. The empirical results show that firms with greater diversification are less likely to pay dividends, pay lower dividend yields, and are less likely to increase dividends. I also find that such evidence is more pronounced among poor financial performance and lower earnings quality firms.

本研究以中國2000年至2007年間滬深上市公司為樣本，分析保薦制度對於企業在現金增資（在本研究中包含增發與配股）後經營績效的影響，其中經營績效包括稅後淨利成長率、股東權益報酬率成長率與每股盈餘成長率為衡量指標。實證結果顯示，現金增資後企業的經營績效有明顯衰退的現象，但是本研究發現這個經營績效惡化的現象在保薦制度後有顯著減緩的證據。最後，若將企業細分為增發與配股，進一步的分析顯示，保薦制度的效果在配股樣本中得到顯著結果。彙總而言，實施保薦制度能夠有效減緩企業現金增資後經營績效衰退的情形，且該效果在配股企業較為明顯。 / This study examines the impact of Sponsor’s System on operating performance of firms conducting Seasoned Equity Offerings from 2000 to 2007 in China. The performance measures include the growth of net income, the growth of ROE, and the growth of EPS. The empirical results indicate that there is significant decline in post-SEO performance. However, the phenomenon of poor performance after SEO is less severe after Sponsor’s System. In conclusion, the employment of Sponsor’s System can relief performance decline after SEO.

本研究引用吳思華教授提出的三個策略構面，作為研究分析之基礎，試圖分析個案公司的現況及金融海嘯侵襲下的策略因應。此策略三構面分別是營運範疇、核心資源與事業網路，亦即包括「營運範疇的界定與調整」、「核心資源的創造與累積」、「事業網路的建構與強化」三項主要工作。 2008年金融海嘯重創整個世界經濟，經營環境未曾如此險峻，因此如何掌握策略因應，讓企業渡過難關，變得非常重要，透過此項研究了解半導體產業結構及企業在面對金融海嘯危機等風險時，可利用策略三構面來探討策略因應，也可作為其他產業界参考。 本研究籍由分析個案半導體公司在金融海嘯危機時期，面對激烈的競爭環境，要如何建立其競爭優勢，以及如何調整經營策略，安然渡過危機。 本研究的目的在探討下述問題： 一、金融海嘯重創全球經濟及重創各產業，企業如何採取必要措施，安然渡過危機？ 二、金融海嘯危機下，企業如何制定經營策略及營運模式因應？ 三、金融海嘯浪潮下如何執行組織重整，建立核心資源，才適合時代潮流？ 本研究的結論如下。 一、企業透過購併同業及異業，以迅速增加運營範疇，擴大產品線廣度，拓展產品市場，分散風險，企業以選擇風險最低的作法渡過危機，並創造最佳的績效。 二、金融海嘯重創各產業，人才是企業的最基本的資產，金融海危機下，企業反而利用不景氣的時候逆勢培養人才、加强研發新產品、保住主要客戶、重建與供應商的關係、強化行銷網路，也就是擴展營運範疇、鞏固核心資源、强化事業網路來渡過危機。 三、金融海嘯侵襲下，企業會選擇風險最低的作法渡過危機，並創造最佳的績效，以下是營運模式因應。 (一) 保持健全的財務基本面 (二) 保護公司的現有業務　 (三) 適度在媒體曝光，建立企業聲譽 (四) 降低原料及供應鏈成本 (五) 維持企業的股價 四、金融海嘯浪潮下，組織變革或組織瘦身，雖然是一個理想的方式，但尚有一些創新的方法，可以在企業裡面做長期發展策略，反而利用這個機會，做平常沒有機會去做的事，也就是利用策略三構面，調整營運範疇、創造與累積核心資源以及建構與強化事業網路也可以安然渡過風暴。 / The gist of this study focuses on analyzing the current business strategic of corporation during financial crisis by which combined Dr. S.H. Wu’s “Three aspects of Strategy". There are defination and adjustmentof operation domains, the creation and accumulation of core competence, and the construct and strengthen business network. It is very important that how to manage the strategy to face the serious business environment during 2008 financial crisis. By the understanding of semiconductor industry through the study of structure and corporate financial crisis in the face of risk, the strategy can be used to explore the three dimensions of the strategy employed, but also for other industry references. The Study is analysis of the semiconductor corporation, how to build their competitive advantage, and how to adjust business strategy, to ride out the financial crisis during facing fierce competition. The target of this study is to investigate the following questions: First, how to take the necessary measures to ride out the crisis during the financial crisis hit the global economy and various industries? Second, how corporations develop business strategies and operating models in response during the financial crisis? Third, how to implement organizational restructure and establish core competence to meet the current situation during the challenge of financial crisis. The conclusions of this study are as below. First, by mergers and acquisitions and cross-industry, increase the operational areas promptly, expand the product lines markets, diversify risk, select the lowest risk business practices to ride out the crisis, and create the best performance. Second, the financial crisis hit the all industries, human power is the most basic assets of corporation during the financial crisis. The corporation used the downturn enterprises contrarian personnel training, enhance the development of new products, to keep key customers, rebuilding relationships with suppliers, strengthen the marketing network, that is, expansion of the operational areas, strengthening the core resources, and business networks to survive during crisis. Third, the corporation will choose the lowest risk to ride out and create the best performance during the financial crisis. The following is the mode of operation in response. (A) maintain the financial fundamentals (B) to protect the company's existing business (C) Show up in the media to establish the corporate reputation (D) reduce the cost of raw materials and supply chain (E) to maintain the share price Fourth, although the organizational change to reduce the pressure is the ideal for corporation, but there are some innovative actions to do long term development strategies. To process which do not have the opportunity to do the usual things, it means using “Three Aspects of Strategy” to adjust the operating domains, to create and accumulate the core competence, and build and strengthen the business network to ride out the financial crisis.

本研究欲探討兩岸傳統產業公司治理與經營績效之關聯性，運用資料包絡分析法及Cummins, Weiss和Zi (1999)之交叉效率前緣評估比較2005至2009年兩岸公司之經營績效差異。並進一步採用縱橫資料迴歸模型分析兩岸傳統產業之公司治理機制與經營績效之關聯。 根據本研究實證結果顯示：首先，兩岸傳統產業分屬不同效率前緣，且大陸傳統產業之技術效率優於台灣傳統產業之技術效率。說明台灣傳統產業雖較中國傳統產業發展的時間點為早，不過由於台灣之傳統產業屬於早期赴中國投資的先驅，當時已將核心技術帶入中國，近年來中國傳統產業因內需龐大加上國家支持而發展迅速，無論在規模或產值上都遠遠超過台灣。而在公司治理機制中，大陸傳統產業公司國內機構法人持股率及國有股比例與其經營績效呈顯著顯著負向關係，和其他研究結果一致，而經理人持股率、國外機構法人持股率與獨立董事比例則與經營績效無顯著關聯；台灣傳統產業公司經理人持股率、國內機構法人持股率、國外機構法人持股率、董事淨持股率及獨立董事比例與公司之經營皆無顯著關聯。敏感性分析顯示與上述結果類似。 / The purpose of this paper is to examine and compare the relationship between corporate governance and efficiency performance of traditional industry(TI) in Taiwan and China. We apply data envelopment analysis and cross frointer analysis to measure and compare the performance difference between Taiwan and China. The research constructs a panel data regression model to examine the association between cooperate governance and efficiency performance for Taiwan and China, respectively. The empirical results are summarized as follow. First, the efficiency frontier of Taiwan and China are indeed different, and the cross frontier analysis reveals that the efficiency performance of Mainland China is better than that of Taiwan. The TI of Taiwan developed earlier than China and the early core competence development of Chians’s TI was transferred from Taiwan. However, due to the huge domestic demand and government’s strong support of China’s TI, today not only the size but also the value-added of TI, China is much larger than Taiwan. Second, the domestic institutional investor’s and the state-owned shareholdings are significantly correlated with the performance of companies in China. The management, foreign institutional investor’s shareholdings and the percentage of independent directors do not associate with the performance of China’s TI. Finally, the cooprate government variable are not associate with the performance of Taiwan’s TI.

本研究以2004至2010年國內之上市公司為研究樣本，探討內部控制缺失對公司經營績效之影響。對於內部控制缺失之判斷，不同於以往，僅限以公司自行揭露或遭主管機關裁罰之資訊為對象，本研究廣泛蒐集公司負面新聞，將內部控制缺失依事件發生原因分類，並依照COSO報告架構將內部控制缺失依五大要素及五大目標予以分類。 實證研究結果顯示，內部控制缺失與企業經營績效間呈顯著負相關，重大之內部控制缺失對經營績效影響之程度較大。依發生原因分類內部控制缺失之分析結果顯示，違反金管會規定、管理階層操守與價值觀有偏差及發生會計錯誤而重編財報之公司，其經營績效較差。至於內部控制缺失涉及內部控制要素及控制目標者，分析顯示，各項缺失要素及目標皆與經營績效呈顯著負向關係，且缺失要素及缺失目標較多之公司，其經營績效較差。其中，控制環境、風險評估與監督三項控制要素缺失，以及財務報導目標缺失對經營績效有較顯著之負向影響。 / Based on a sample of 724 Taiwanese companies listed in Taiwan Securities Exchange over the period of 2004-2010, this research investigates the impact of internal control weaknesses on firm performance. Different from prior studies that identified internal control weaknesses only from voluntary disclosures made by the firm and releases regarding firm’s violation of regulations issued by the Finanical Supervisory Commission, Executive Yuan, ROC (FSC). This study extensively collects news related to events resulting from internal control weaknesses as an additional data source. A further classification of internal control weaknesses is performed based on the nature of the events and the internal control framework proposed in the COSO report. The empirical results indicate that firms with internal control weaknesses are significantly underperformed. It is also found that material weaknesses have greater impact on firm performance. The results show that firms associated with FSC regulation violation releases, the integrity and ethical values of management is biased, and had restated financial statements accounting errors have significantly lower performance. The internal control weaknesses classified by the elements and objectives of internal control based on the COSO framework, are found to be significantly and negatively related to the firm performance respectively and collectively. In specific, the weaknesses associated with control environment, risk assessment, monitoring, and financial reporting objective have greater impact on firm performance.

近二十年來，臺灣積極推動金融自由化及國際化，臺灣銀行業於1991年陸續開放16家新銀行設立以來，競爭加劇。同時，臺灣正式加入WTO後，臺灣金融機構面臨來自國際間跨國金融業嚴峻的挑戰，然而銀行體系普遍所面臨的問題，包括銀行家數過多、規模過小、同質性過高、逾放比過高等現象，都是主管機關在近年來希望能進行金融改革的重要課題。正當此際，為了迎接國際強大的金融集團競爭挑戰，政府必需盡速解決國內的金融問題，加速整合金融機構，因此早在2001年6月27日即通過《金融六法》，其中《金融控股公司法》對臺灣金融業的影響甚巨，其立法目的是希望臺灣金融體制朝向“股權集中化、組織大型化、經營多角化、監理透明化”方向發展，以提升金融機構的競爭力及國際化。 《金融控股公司法》通過至今已有十四家金融控股公司成立，重整了金融版圖，也影響銀行的經營模式。本研究透過搜集先進國家的金融制度發展及臺灣目前金融市場概況來研究金融控股制度對銀行業經營所產生之影響。 跨業經營已是國際間金融業整合之趨勢，因此，金融控股公司法的設立將付予臺灣金融機構進行整合、轉型的機制，讓其更具競爭力，只是是否每一金融控股公司均能成功經營，恐怕短期間業者仍要面臨階段性的調整壓力，並非一蹴可及；再則，在該法設立後，金融監理一元化將更形重要，否則當金融機構跨業經營形成金融巨人後，未來發生弊端時，就會變成金融怪獸，所引爆的金融危機，將更為迅速且嚴重，連鎖反應將更為擴大。究竟金融控股公司的設立，能否為臺灣的金融業帶來生機？以及政府應在准許業界設立金融控股公司的同時，要如何建立專業、獨立與有效率的監理機制，以避免增加業者的管理成本，並提升金融業的競爭力？是本文的研究目的。 本研究以質化研究中之個案分析法為研究方法，針對個案公司之總體策略進行研究，以策略形態分析法進行。因我國金控公司成立年代尚短，金控公司中子公司業別、轉投資事業與策略聯盟等總體策略的完整性與代表性皆具足較少，在個案選擇上來源有限。富邦金控（Fubon Financial Co., Ltd）在子公司業別、轉投資事業與策略聯盟等總體策略的完整性與代表性較其他金控公司相對完整，且經營績效表現亦佳，故以個案分析法綜合上述資料分析歸納出本研究之結論。 研究結果顯示，金融控股公司制度為近代世界金融體制之新潮流，全球金融商品已進入國際化，多元化的時代，傳統銀行的金融商品已無法滿足顧客之需求，因此銀行經營多元化已為一種趨勢，在金控公司體制下的銀行可藉交叉行銷金控子公司之各項金融商品提供顧客「一次購足」的服務，且能有效運用資源，降低成本，因此較單獨經營之銀行更具範疇經濟的效果及優勢。所以許多銀行選擇加入金控公司，也間接加速了銀行合併。 / Taiwan has been actively promoting financial liberalization and internationalization in the last two decades, and the competition is intensified when 16 new banks were set up since 1991. After Taiwan enters WTO formally, all the financial institutions face severe challenge from international banks, moreover, the domestic banking system has been facing problems such as over banking, small business scale, similar business nature, high NPL ratio, etc, and these are the problems that the government must solve as quick as possible. Taiwan government passed "Six Laws on Finance" on June 27th 2001, in order to improve the competitiveness and internationalization of the financial institutions in the following four aspects, "centralization of ownership, organization maximization, business diversification and transparent supervision". Cross business operating is becoming the main driver of international financial industry integration nowadays. The Financial Holding Company Law can help Taiwan financial institutions to merge and transform to become more competitive. At the same time, supervising authority should also review the guidelines and standards to cope with the fast changing financial habitat. The purpose of this thesis is to evaluate the impact of the Financial Holding Company model to the Taiwan financial industry and the measures that authority should take to have better monitoring and supervising over financial institutions in the effective and cost saving way. The case analytic approach in this research is studied with the qualitative method and analyzed by shape tactics. Fubon Financial Holding Company is more representative with better performance, so we choose it as an example in our case study. The study result shows that financial holding company model is a new trend of the modern banking system. Traditional financial products can no longer meet customers’ needs and the global financial products nowadays must be internationalized and diversified, that’s why diversification of business is also a main theme of the banking industry now. Under the Financial Holding Company model banks can cross sell products from subsidiaries of holding companies. By providing this “one stop shopping” service banks can allocate resources more efficiently and lower cost, so a lot of banks choose to join to become Financial Holding Company and which accelerated the merger of banks indirectly.

在全球民營化的風潮中，臺灣地方政府已推動設置有32所公辦民營托兒所。本研究採個案研究，運用相關人士訪談、機構文件檔案、家長問卷與幼兒學習環境量表蒐集之資料，探究「臺北市政府社會局委託社團法人臺北市親子成長協會辦理吉利托兒所」的經營歷程。從承辦單位如何履行契約書中的教保服務內容，如何形塑教保品質與獲得哪些內/外在評價，以理解公辦民營幼托政策對幼托機構形塑教保品質的影響。研究結果分別從（一）過程評估觀點談公私協力關係中的曖昧現象；(二) 從建構整體教保服務生態品質觀點，論述公辦民營幼托政策於推動幼托機構設置的合理性。 / There has been a rapid growth in “privatization” over the past decade around world. Under the trend of global privatization, currently there are a total of thirty-two such publicly-funded, privately-managed day care centers in the fifteen counties of Taiwan. The purpose of this research is to inspect the influence of the Public-Private Collaboration Model on the quality of the early childhood programs. This research focuses on a case study of a publicly-funded, privately-managed day care center in Taipei in order to answer three research questions: how to implement contracts ,how to promote high-quality care in the process of managing, and what kind of outcome was achieved. Tools to collect data included interviews, documentation, questionnaires, and the Early Childhood Environment Rating Scale-Revised (ECERS-R). According to the result, the paper discusses the ambiguous relationship between the government and the day care center from the viewpoint of process evaluation, and the rationality of the Public-Private Collaboration Model for the quality of early childhood care and education.

依據全球能源趨勢分析新興市場能源需求逐年成長，然而國內市場飽和的衝擊下，台灣的工程業如何運用既有實績、知識、技術來拓展海外商機，是企業面對環境快速變化所採取的必要策略。縱使金融風暴及外在投資環境愈趨險惡，競爭對手亦都是國際級工程公司，國內工程業仍須就時代脈動及未來趨勢提前規劃訂定新目標及經營策略以確保永續經營。 本研究藉由台灣工程業生存環境的變化及政策發展目標改變，依據區域、產業、顧客、市場的變化來尋求潛在市場規模。以煉油石化工程為主要研究對象，其市場特性為進入門檻高，且大型統包型專案執行日漸複雜，台灣的工程公司應具備良好之業務、專業能力，熟悉全球化作業細節，才有機會積極跨入國際市場以提供完善服務。本研究藉由個案公司對國內、外市場趨勢的探討，公司所處的內外部環境，尋求一個企業如何找出其價值鏈來提升核心競爭力；並且藉由研究策略之關鍵因素，利用跨國行銷管理與經營績效進行分析，以構建個案公司的發展願景。 企業創新、組織改造與競爭策略是未來發展的解決方案。本研究利用工程資訊、文獻資料等剖析企業在面臨國際經濟、工業發展、政府政策，供應鍵變化等不確定因素下，要跨入國際工程市場，可採用的策略方法。運用競合策略SWOT分析、價值網、策略地圖、平衡計分卡等探討強化核心能耐及訂立短、中、長期策略目標。 隨著大陸、印度等煉油石化工程同業逐漸取得報價資格進入國際市場，當我們面對低價搶標，材料及人工成本的上漲壓力，個案公司需以極敏銳的隨機變動能力，掌握這一波產業發展契機並發掘在跨國管理上的問題以尋求提升整體營運績效，強化核心能耐與競爭力。

本研究旨在分析台灣地區大學院校之現況與大學院校整併策略，做為教育行政與學校行政在大學院校間實施整併的參考。 研究者透過文獻探討、文件分析解析台灣地區大學院校的發展與現況；以台灣地區公私立大學院校決策管理層級之校長、教務長、學務長、總務長等合計507位做為問卷調查對象，回收問卷303份，回收率約59%，運用次數分配、卡方分配、及肯德爾和諧係數等進行考驗；另針對已完成整併及正討論中的個案實施訪談，得到以下的主要研究發現： 一、現代大學院校必須注重經營管理的績效，與朝最適經營規模發展。 二、學校間的整併是促使大學院校達到最適經營規模的一種方式。 三、政府在保障與維護學術自由前提下，有規劃整體教育發展的權利與責任。 四、台灣地區近10年來在大學學校數量與學生數量上均不斷的增加，但學校規模不大，約有80%左右的學校學生數在10,000人以下，而且5,000人以下的學校約有37%。 五、台灣地區近40年來人口出生數，與近10年來經濟成長率均呈現下降的現象，又面對WTO衝擊的壓力，學校間的整併是規模較小學校發展的可行策略。 六、台灣地區大學院校決策管理層級，對大學院校現況認知情形與實際情形相符，但認為「為增加資源的使用效益，招生人數應該增加」。 七、在大學院校整併條件方面，認為學校最應重視的是學生素質的提升，在經費補助方面應維持原有學校經費三年不變。 八、在大學院校整併原則方面，認為最重要的是願景、系所整併、人力資源整合與擴大互補功能。 九、學校間整併的效益為提升學校整體競爭能力，與有利於人力的整合運用。 十、學校間整併的問題，為增加單位間的協調困難與文化不同不易整合。 十一、大學院校間整併策略優先順序，為聯合大學系統、合併、策略聯盟、購併。 十二、政府如果希望學校間整併，宜提供誘因且訂定整體方案公布實施。 十三、學校間的整併，政府所能提供的最具體誘因是「經費」與「員額」二項。 十四、學校間能否整併，應由校務會議決定。 十五、學校間如果有共同接受的願景，則容易合併。 十六、學校間的整併過程中，政府適時介入與支援為是否完成整併的關鍵。 最後，本研究針對大學院校的整併策略，分別向教育行政機關與學校提出具體的建議，同時也建議未來進一步研究的方向。 / The purpose of this study was to investigate current positions and merge strategies among universities and colleges in Taiwan. In addition, the study intended to provide useful implications to education administration for governing the proceeding of college merger. The current researcher reviewed literature and documents to analyze the development and current positions of Taiwan's colleges. The questionnaires were mailed to 507 administrators who were college presidents, chairs of Academic Affairs, chairs of Students Affairs, and chairs of General Affairs in Taiwan. A total of 303 questionnaires were completed and returned. The returned rate was 59%. Distribution of frequency, chi-square, and the Kendall coefficient of concordance were used for data analyses. The current researcher also interviewed the administrators whose college had completed merger or were in the merging process during the investigation period. The findings from this study were the following: 1. Modern colleges need to emphasize the efficiency of school management and pursue “the optimal scale” for school development. 2. The merger among colleges is a way for promoting the school to achieve “the optimal scale”. 3. Based on the premise of “no violated academic professional liberty”, the government should have authority and obligations to provide a plan for comprehensive educational development. 4. The numbers of colleges and students are increasing dramatically in the past 10 years. However, the size of schools is considered small. A total of 80% of colleges with student number less than 10,000, and 37% of these colleges with student number less than 5,000. 5. The current challenges for Taiwan's higher education include a decreasing population of new born in the past 40 years; declining economic growing rate within recent 10 years; and the advent of Word Trade Organization. It is a practical strategy to merge small colleges in order to face these challenges. 6. The college administrators recognize the reality of current higher education. They suggest an increase of the student number would promote the efficiency of the use of education resource. 7. The critical requirements for college merger include that schools have to emphasize the quality of students and to have a stable financial support for at least 3 years. 8. A vision of future, consolidation of graduate and under-graduate programs, and coalition of human resources are considered as the most important principles of college merger. 9. The benefits of a merger among colleges are an increase the compatibility and the use of human resources. 10. The challenges of a merger among colleges include the negotiation of the increase of new units after merger, and the consolidation of different cultural backgrounds among colleges. 11. The priorities of college merger strategies are affiliation of universities' system, merger, strategic alliance, and purchase. 12. If government wants to promote merger among colleges, the government should provide incentives and be clear with the policies. 13. The best "incentive" from government for college merger are financial and personnel supports. 14. The Committee of School Affairs has the authority to decide whether a college needs to be merged with others. 15. If there have mutual goals among colleges, a merger is more likely to success. 16. During a merger proceeding, government's support and mediation are the keys for a successful merger. The current study not only provides implications for college merger to the government and college administrators, but also suggests directions for further research.