論文摘要 航空運輸業為資本密集的產業，因此資本結構決策乃為公司財務管理的重要課題。本文藉由資本結構相關理論以及實務的觀點，配合中華航空公司歷年來的財務資料，尋求影響航空公司資本結構的重要因素，同時瞭解這些因素對於資本結構的影響程度和方向。據此，公司將可藉由本身的條件及外在環境的狀況，評判目前的資本結構是否合理，當相關條件改變時，公司也能依此適時修正其資本結構，以回歸至公司的目標區間。 本研究利用資本結構及其決定因素的迴歸模式，逐一檢視各決定因素對於中華航空公司資本結構之影響，藉以驗證相關理論的假說是否成立；然後再利用逐步迴歸的方式，進一步探討中華航空公司資本結構決定因素的多元迴歸模式。 本研究的結論如下：（1）獲利率、稅率以及非負債稅盾與資本結構呈負相關；資產抵押價值則與資本結構呈正相關；公司規模、成長率、營運風險以及股票上市因素對於資本結構的影響並不顯著。（2）經由逐步迴歸篩選出來對於資本結構解釋能力較高的決定因素包括獲利率、資產抵押價值、股票上市、公司規模以及成長率，除了獲利率和股票上市與資本結構呈負相關外，資產抵押價值、公司規模以及成長率均與資本結構呈現正相關。

桃園機場近三年來，航班延誤的次數居高不下。 本文通過回歸和資料探勘的研究方法，發現抵達航班更容易出現航班延誤的狀況，特別是從桃園機場附近起飛的航班。 另外，廉價航空公司因其高效率的商業模式而獲得更好的時間效能。 這項研究證實了網絡傳播時間效應，也就是延誤狀況經常在當天晚些時候發生，並且進一步表明，機場若要提高準時性能，則航空公司的營運方式需要做改變。 / Over the past three years, Taoyuan Airport has experienced a high number of flight delays. By using regression and data mining methods, this paper found that arrival flights are more prone to delays, particularly from airports close by. Low cost carriers are also found to have better on time performance due to their efficient business. This study confirms the network propagation time effect where delays are more prone to happen later in the day and furthermore shows that should airports improve on-time performance, it would need to affect the way airlines operate.

低成本航空公司近年來在航空市場掀起一股風潮，某些低成本航空公司的營運績效甚至威脅到同一競爭市場中的傳統航空公司，例如美國的西南航空公司(Southwest Airlines)、馬來西亞的亞洲航空公司(Air Asia)；另一方面，亦有新興的航空公司採行低成本航空之營運模式，卻於營運不到幾年後就因經營不善而必須宣告破產或倒閉，例如加拿大的祖恩(ZOOM)航空、香港的甘泉航空。到底航空公司的營運模式該採行低成本航空公司之模式較佳？維持傳統航空公司之操作方式較優？還是另有其他模式尚待開發？本文中亦將介紹現行航空公司操作方式中一塊較少為學術界及商業界討論的模式－包機航空公司，並將以上述三種經營模式進行比較。 針對傳統航空公司、低成本航空公司以及專業包機航空公司營運模式之研究方法，文中將先以鑽石理論模型之競爭因素，配合SWOT策略分析，對應航空公司之競爭條件作介紹；並針對成本領導策略、差異化策略、集中化策略對航空業不同之營運模式加以討論，希望歸納出在航空公司本身所能具備的條件之下，所應採行之較佳營運模式。 最後，將以本國航空公司現有之條件，針對其可採取的經營策略加以建議，以期台灣的航空產業，除了在兩岸定期航班即將開展所帶來的商機之外，亦能因採行正確的營運模式，在未來的航空產業發展中持續蓬勃興盛。 / Low-cost carrier in recent years in the aviation market set off a wave. Some low-cost airlines even threat the conventional airlines in the market, such as Southwest Airlines in the United States, Air Asia in Malaysia. On the other hand, some low-cost carriers went bankruptcy due to poor management, such as Zoom Airlines in Canada, and Oasis Hong Kong Airlines. A natural question arises: which type of business model, low-cost carrier, conventional carrier or chartered carrier, should airline operations adopt, low-cost carrier? This study applies Porter's (1990) ``Diamond`` analysis, together with SWOT analysis, to the aforementioned question. The research identifies the corresponding competitive conditions and strategies for each business model. This gives important implications for the aviation business in Taiwan.

關係行銷或是一對一行銷是目前行銷領域上廣泛被討論的議 題，企業要如何透過有效的辨識、區隔、互動以及客制化來量身打造 顧客專屬的個人化產品與服務內容，並強化其重複消費動機及忠誠， 為目前各種產業爭相積極追求的目標，此外，由於微利時代風暴，各 產業無不希望透過顧客價值的辨識與經營，實現以更有效、更低的成 本的差異化行銷策略來創造高收益的企業經營目標，以航空產業如此 資本密集，高固定成本，低變動成本以及不對稱的供需平衡，誰掌握 低成本領導與差異化策略優勢，便能決戰存續於二十一世紀超競爭時 代之中。 由於資訊科技、網際網路以及資料探勘技術的臻於成熟， 充份 發揮了跨國、即時、深度滲透與互動的特性，使得關係行銷、一對一 行銷的實現變得更加有效而可行。本研究希望從顧客價值的認定、顧 客忠誠策略以及資料探勘技術的探討，來思考如何運用於航空公司會 員系統的顧客區隔，同時，希能透過航空公司產業通路架構、全球旅 行社訂位系統(CRS)的發展現狀、微妙的航空公司間策略聯盟以及不 同航空公司所提供的會員酬賓計劃內容的探討與陳述，初略地對個案 公司的所在環境進行策略性分析，以建議其所需採取投入關係行銷的 主要焦點客層。 緊接著， 利用資料探勘工具中的分群技術， 選定有效的指標變 數，針對某一區間的會員交易資料進行分群，藉由研究各群會員所蘊 含的特殊屬性，如營收貢獻、產品特性、通路喜好以及消費行為等等， 依據前述所定義的目標客層，以創造顧客價值為目標，精確建立目標 客戶群，並據以設計不同的行銷策略與產品組合，逐步深耕建立完整 會員關係行銷資料庫。 最後， 對於本研究所無法觸及的研究議題， 概略指出後續可能 的研究方向與建議。 / Customer Relationship Management and data mining in this hyper-competitive era have revealed a lot of interesting and innovative opportunities to enrich the capability of company to realize and provide customer value. They touch the most critical issue of the enterprise, “How can we create and sustain successful advantage, and maximize profitability by leveraging new technologies ?＂In this thesis, we will focus on the application of data mining in the FFP of the airlines industry, and look over the differences among FFP members to discover the implicative needs of FFP customers. First of all, we start discussion on literature review in chapter two, which was divided into three parts: customer loyalty strategy, customer value and data mining. In this chapter, we put emphasis on the concepts and definitions of above topics, and they would be helpful to us to select and decide key variables in the following data mining practice. Chapter three of this thesis is to introduce the structure and characteristics of the airlines industry, the history of Computerized Reservation System(CRS), the airlines strategy alliance and the FFP system, and to figure out the way to understand the existing threats and opportunities. Chapter four, which was abode by the steps of data mining process, defines business issues and collects around one year's FFP historical transaction data to establish the target data and perform an actual data mining practice. In this real practice, we use the demographic cluster function of IBM Intelligent Mining tool to do member clustering. We select net revenue, first and business class spending rate, reservation booking designator and customer activation as analytical variables to perform FFP member clustering. Each variable has been well equipped with weight and method to produce best cluster pattern. Finally, according to the mining results we have explored and interpreted, we provide our draft recommendations about marketing planning and mix activities from the perspectives of FFP members clustering.

Abstract The current study is a content analysis of airlines’ printed ads, exploring an intersection of country-of-origin (COO), advertising appeals (rational and emotional), and cultural values (Eastern or Western). The study focuses on airlines advertising to understand the role of COO and its interaction with ad appeals and cultural values. The goal of the study is to explore the ways in which airlines or service businesses (selling intangible products) communicate with consumers about the values and meanings in their advertising, especially since the market for travel services is growing and the airline industry is facing drastic competition. The statistical analysis showed clear consistent patterns in the use of COO and other advertising appeals: the ads that used COO are more likely to use emotional appeals and express more Eastern values. Adding to our understanding about the branding of airlines, the findings are in line with the literature that claimed emphasis on emotional aspects for service advertisements. Implications for practitioners are also discussed. Key words: airlines, country-of-origin, services, advertising appeals, cultural values, content analysis / Abstract The current study is a content analysis of airlines’ printed ads, exploring an intersection of country-of-origin (COO), advertising appeals (rational and emotional), and cultural values (Eastern or Western). The study focuses on airlines advertising to understand the role of COO and its interaction with ad appeals and cultural values. The goal of the study is to explore the ways in which airlines or service businesses (selling intangible products) communicate with consumers about the values and meanings in their advertising, especially since the market for travel services is growing and the airline industry is facing drastic competition. The statistical analysis showed clear consistent patterns in the use of COO and other advertising appeals: the ads that used COO are more likely to use emotional appeals and express more Eastern values. Adding to our understanding about the branding of airlines, the findings are in line with the literature that claimed emphasis on emotional aspects for service advertisements. Implications for practitioners are also discussed. Key words: airlines, country-of-origin, services, advertising appeals, cultural values, content analysis