本論文包含台灣壽險業資產配置國際化及匯率避險兩個主題。首先，探討台灣壽險業積極向主管機關申請核准提高國外資產配置比率，與美國投資人偏好投資自己國家資產不一致的現象，是台灣壽險業資產配置不得不的策略，或是國際化的迷思? 以25家壽險公司2004 年至2008年財務資料實證結果發現，國外資產納入投資組合對壽險業投資績效有利。如果將樣本公司依據所有權區分為本資公司與外資公司，資料顯示，本資公司國際資產配置較為積極，惟其報酬績效與外資公司差異並不顯著。研究亦發現，2008年美國次貸風暴顯著負向影響台灣壽險公司國外投資報酬，即提高國外資產配置雖可提高報酬，惟匯率風險、信用風險及系統風險暴露亦相對提高，建議壽險公司於追球較高報酬同時，應同時加強風險管理。另實證亦發現，資產規模愈大公司之投資報酬率相對較遜，建議於追求保費市占率成長時，應重視投資報酬績效的實質提升。 第二部分探討2004年至 2008年台灣壽險業國外投資匯率風險管理策略對投資績效影響。以整體產業觀察，匯率避險對投資報酬率有正面效果；本資公司避險策略相較外資公司積極，報酬率亦相對較優；股票上市公司有財報揭露股價波動之壓力，經理人有較強誘因採取避險策略，投資報酬率相較優於股票未上市公司，惟差異並不顯著。實證結果支持Glen and Jorion (1993) and Campbell et al. (2010)避險可以降低匯率風險提升投資報酬績效之研究結論，2006年實施之34號會計公報，顯著影響本資公司與上市公司之避險行為。 / In this study, we study two essays on international asset allocation and the currency hedging problem for Taiwan life insurer industry. In the first essay, we investigate the high percentage of foreign investments placed by Taiwan life insurers and how this phenomenon is at odds with the bias for investing at home common among American investors. The holdings of 25 Taiwan life insurance companies, between the years 2004 and 2008, are scrutinized with a view towards evaluating home bias and its financial impact. We find that foreign investment has proven profitable for the life insurance industry. However, if the life insurance industry is divided into two categories according to its ownership structure, i.e., domestic-owned and foreign-owned companies, and that while the performance of investments made by domestic-owned life insurers differs from that of foreign-owned life insurers, the difference is insignificant. We also found that global financial turmoil in 2008 had a massively negative impact on the foreign investments of Taiwan life insurance companies and firm size and return on investment is negative correlated, suggesting that life insurers should focus on enhancing investment performance and risk management. In the second essay, we examine the currency hedging strategy and its impact on the performance of Taiwan life insurance industry investments from 2004 to 2008. We find that currency hedging strategies have yielded positive results, overall, for the industry. However, if the life insurance industry is divided into two categories according to its ownership structure, i.e., domestic-owned and foreign-owned companies, the results show that the currency hedging strategies employed by the domestic-owned companies enjoy advantages over those of foreign-owned firms. If the sample is further divided into those publicly listed on the TAIEX and others, our results show that a hedging strategy has positive effects on listed company. Our findings support the work in Glen and Jorion (1993) and Campbell et al. (2010), which reveal that hedging strategies improve foreign investment returns and can reduce currency risks in comparison to non-hedging strategies. Our empirical results indicate that SFAS No. 34 has a significant effect on currency hedging behavior among domestically owned and listed companies.

傳統敘事如小說透過文字表現，如攝影凍結時間以照片表現，如影片透過蒙太奇將事件以時間序列安排，而數位敘事竟能一次包含上述所有文本於一體，其中奧妙的敘事模式究竟為何？本研究的主體－資料庫，作為數位敘事的一種類型，一種文化形式，如何將傳統敘事元素徹底拆解成數碼格式？又這些傳統敘事元素如何轉換、又如何殘存於資料庫敘事中？ 藉由文獻分析之過程，探究傳統敘事理論與數位敘事理論之間的可能關係，並透過所選個案文本【Bleeding Through Layers of Los Angeles：1920-1986】，進行「敘事結構」、「敘事觀點轉換」兩大面向之分析，試圖瞭解在數位的浪潮下，人們說故事的方式、故事的樣貌是否有變化的可能性，以提供數位敘事設計者一些理論與實務上的思考。本研究結果歸納如下：1. 開放的敘事結構啟動讀者更多闡釋，2.互為文本的兼蓄性讓敘事有最大程度展示空間，3. 互動敘事達到讀者實質與文本互動。 / Fiction performs through text. Photography performs through images. Movie performs with video; with the help of montage, video has meanings. All of them are traditional narratives, and digital narrative contains all of the above. How does digital narrative work these out? This research aims to discuss “the database narratives”. As a type of digital narrative, how does database narrative completely dismantle the traditional narrative elements into a digital format? By analyzing the reference documents, we could find the relation between theories of the traditional narrative and digital narrative. Through the selected piece of work “Bleeding Through Layers of Los Angeles：1920-1986”, this research focuses on "narrative structure," and "point of view," trying to understand the way of storytelling in digital times. This research concludes with the following: 1. Open narrative structure renders a text more interpretations. 2. Inter-textuality enhances the scale of narrative to the most. 3. Interactive narrative enables readers more interactions with the text.

本研究建構一社會網路互動下的新凱因斯動態隨機一般均衡模型，探討效用基礎下波茲曼分配背後的網路結構，以及，社會網路對新凱因斯動態隨機一般均衡模型參數的影響。根據本論文模擬結果，效用基礎下波茲曼分配背後所隱含的社會網路結構呈現局部區域性連結拓璞，此結論與熱力學對波茲曼分配中粒子互動方式的假設相同，然而，區域性連結之網路結構（如環狀網）並非目前實證研究所觀察到的網路型態（如冪分布網路或高群集係數之小世界網路），故吾人是否得以直接利用效用基礎下波茲曼分配來描述社會上人與人之間的互動現象必需更忱慎考量之。另外，社會網路互動也將使新凱因斯動態隨機一般均衡模型之參數估計產生偏誤，依本研究估計結果觀之，只要加入社會互動，總合需求曲線中實質利率之參數估計將為正號，即實質利率對產出缺口的影響為負向影響，也就是文獻上的投資儲蓄迷思(IS puzzle)，若進一步觀察社會網路結構對該實證迷思的影響則可發現當社會網路群聚程度越高時，該估計偏誤將越嚴重。 / We construct a social network-based New Keynesian DSGE (Dynamic Stochastic General Equilibrium) Model to investigate the underlying social network structure derived from the performance-based Boltzmann-Gibbs model, and thus interpret the process that social network structures affect the estimation bias in the New Keynesian DSGE framework. According to our simulation results, the underlying social network structure derived from the performance-based Boltzmann-Gibbs model should be local. This finding is consistent with the study of thermodynamics, which the Boltzmann-Gibbs distribution is based upon, i.e. the local interaction. However, it contradicts not only the purpose of combining the performance-based Boltzmann-Gibbs machine and New Keynesian DSGE model, but also empirical studies of social network structures in the real world. Accordingly, maybe we have to consider further whether the performance-based Boltzmann-Gibbs machine is a suitable tool for calibrating social interaction under the stylized New Keynesian DSGE framework. Furthermore, if we embedded interaction behavior in the stylized New Keynesian model, the so-called “IS Puzzle” can be consequently observed. We also realized that “IS Puzzle” is connected with network structures. The more clustering the network structure is, the more significant “IS Puzzle” would be.

STAT1是一個轉錄因子，在細胞生理功能中是非常重要的訊息傳遞者，在免疫系統具有抗病毒的角色，但是目前為止對於STAT1在中樞神經系統所扮演的角色仍不清楚。爲證實STAT1的表現與空間記憶的形成有關聯，我們將大白鼠分成兩組，一組為有訓練的組別，另一組則為無訓練的組別分別進行水迷津試驗，試驗完畢後取出大鼠的海馬迴CA1區域組織進行即時定量聚合酶連鎖反應與西方墨點法分析。結果顯示，經過水迷津訓練的刺激下，STAT1 mRNA與蛋白質分別減少約34 %及40 %，而STAT2 mRNA及蛋白質的表現則不受空間學習的影響。爲了進ㄧ步探討STAT1在空間學習記憶過程中所扮演的角色，實驗利用STAT1 siRNA轉染至海馬迴CA1區域抑制STAT1的表現，發現降低STAT1表現會促進大白鼠在水迷津試驗的學習能力，實驗同時也轉染STAT2 siRNA至CA1區域，結果顯示STAT2不參與大白鼠空間記憶的形成。本實驗室先前發現降低laminin β1表現量會促進大白鼠的空間學習記憶 (unpublished observation, 附錄二)，此外laminin β1基因啟動子上具有STAT1結合序列：interferon-γ activated site (GAS)。因此，實驗利用PC12細胞進行laminin β1報導基因分析，結果顯示STAT1會促進 laminin β1啟動子的轉錄活性。而爲了進一步探討在STAT1影響空間學習與記憶歷程中與laminin β1的關聯性，實驗利用STAT1 siRNA抑制大白鼠海馬迴CA1區STAT1的表現並促進空間學習與記憶的同時，發現laminin β1 mRNA及蛋白質表現量都受到STAT siRNA的抑制，而轉染野生型STAT1-Flag質體則會增加laminin β1 mRNA及蛋白質的表現量，顯示STAT1正向調控laminin β1的表現。本篇論文提出海馬迴CA1區域的STAT1參與動物空間學習與記憶的形成，其中可能與STAT1正向調控laminin β1的表現有關。 / STAT1 is a signal transducer and transcription factor in the cell. Several reports have indicated that STAT1 plays a critical role in immune response against virus infection in animals. However, the role of STAT1 in the central nervous system is still unclear. In the present study, we aimed to examine the role of STAT1 involved in spatial memory formation in rat and the possible downstream gene that STAT1 regulates. Rats were randomly divided into the trained group and the non-trained group. Animals were subjected to water maze learning according to the previous behavioral paradigm. Their hippocampus CA1 tissues were dissected out for STAT1 mRNA level and protein level determination. Results indicated that spatial training markedly decreased STAT1 mRNA level and protein level in the CA1 area, but this change was not found for STAT2 mRNA and protein expression. To further confirm the role of STAT1 involved in spatial learning and memory, animals were transfected with STAT1 siRNA in the CA1 area. Results showed that STAT1 siRNA transfection significantly facilitated water maze performance, whereas their water maze performance under STAT2 siRNA transfection was not altered. Previous studies from our laboratory have demonstrated that laminin β1 impairs spatial memory formation in rat (unpublished observation). In addition, promoter analysis indicates that the laminin β1 promoter region contains two GAS elements, which is the STAT1/STAT1 and STAT1/STAT3 binding site. Results from luciferase reporter assay revealed that transfection of STAT1 siRNA decreased laminin β1 promoter activity, whereas transfection of STAT1 wild-type plasmid increased laminin β1 promoter activity. To further study the relationship between STAT1 and laminin β1 in spatial memory formation, we used STAT1 siRNA to knockdown STAT1 expression and these animals were subjected to spatial training. We then determined their laminin β1 expression. Results showed that the laminin β1 mRNA level and protein level were both significantly decreased by STAT1 siRNA transfection. Besides, STAT1 wild-type plasmid transfection increased laminin β1 mRNA level and protein level in the CA1 area associated with spatial memory impairment. These results together suggest that STAT1 negatively regulates spatial memory formation. Further, STAT1 may impair spatial memory formation through increased laminin β1 expression.

本研究以神經毒素ibotenic acid破壞不同尾核區域以及鋰鹽去價值程序為操弄變項，觀測此兩種實驗操弄對於大鼠之迷津行為之影響，進而探討標誌系統之行為內涵及神經機制。實驗所採用的作業為線索學習作業以及自我中心作業，分別代表標誌系統下的線索導引策略及體位導向策略。實驗一及實驗二在於檢驗尾核功能缺損對於大鼠迷津行為之影響，從探測嘗試發現大鼠在線索學習的行為表現需依賴砂紙線索的導引，而在自我中心作業之行為則不以環境刺激為依據（實驗一A、二A），顯示大鼠在各迷津作業的行為符合標誌系統的運作原則。神經機制之操弄結果顯示在記憶習得階段，尾核破壞之受試在線索學習作業上的表現並沒有顯著變差，尾核功能缺損並未導致學習的延宕或阻斷，其進步的速度仍與控制組相同（實驗一B）。相較於線索學習作業，尾核破壞之受試在自我中心作業上的表現則明顯變差，幾乎沒有進步的趨勢（實驗二B）。而在記憶保持階段，不管是線索學習作業或自我中心作業之表現皆會因尾核破壞而顯著變差（實驗一C、二C）。實驗三及實驗四則利用鋰鹽去價值程序降低食餌之誘因價值，觀測大鼠行為有無相對應改變。結果發現去價值程序的操弄只會影響到大鼠在自我中心作業的行為表現（實驗四），而不影響其在線索學習作業之行為（實驗三）。由此可知，兩種迷津作業所形成的記憶表徵是不同的，自我中心學習歷程會將增強物表徵在聯結單位中，而線索學習之習得歷程則不會。綜合上述實驗結果，標誌系統下確實有兩個不同空間行為機制，一個為線索導引策略，另一個為體位導向策略，雖皆受到尾核的調節，但調節的程度是不同的。不管是記憶習得或保持階段，尾核在體位導向策略的運作中皆扮演重要的角色，而在線索導引策略只參與了記憶保持歷程的運作。另外，兩個空間行為機制在學習內涵上也不盡相同，以線索導引策略為依據之空間行為會形成刺激反應(S-R)的聯結型態，而以體位導向策略為依據之空間行為則會形成反應及增強物(R-S*)聯結。 / This study investigated the neurobehavioral mechanisms of taxon system of spatial memory through manipulating lesions of subareas in the caudate nucleus by ibotenic acid and lithium chloride (LiCl)-induced reward devaluation. With respect to behavioral measurement in an eight-arm radial maze, a cue learning task and an egocentric task were used for testing the guidance and orientation hypotheses of taxon system, respectively. Data from probing procedures showed that the performance of rats in the cue learning task was impaired when the cue was removed, but the performance in the egocentric task was not affected by changing the context (Experiments 1A and 2A). These results indicate that behavior reactions in two tasks are corresponding to those two operational principles of taxon system. In terms of the acquisition, deficits were significantly produced by the lesion of the dorsomedial caudate on egocentric task, while the ibotenate lesions did not affect cue learning task (Experiments 1B and 2B). For retention test, the performances in both cue learning and egocentric tasks were impaired by dorsomedial caudate lesion, no such impairment was observed from dorsolateral and posterolateral caudate lesions (Experiments 1C and 2C). In the third and fourth experiments, LiCl devaluation procedure was employed to lower the reward value of the bait in the maze. This manipulation significantly impaired the performance of egocentric task but not that of the cue learning task. These results indicate that the memory representations in the two tasks used in the present study are different. The memory representation in the egocentric task contains the reinforcer, whereas that in the cue learning task is not necessarily relevant to the reinforcer. In conclusion, the guidance and orientation hypotheses can be differentiated as behavioral mechanisms existing in the taxon system of spatial memory. Although the caudate nucleus is critically important for the operation of both hypotheses, the degrees of this brain site to get involved are different. The caudate nucleus participates in the acquisition and retention of orientation hypothesis, but only in the retention of guidance hypothesis. In addition, behavioral performance of the spatial memory using guidance hypothesis is based on forming the association of stimulus and response (S-R), while that using orientation hypothesis is based on forming the association of response and reinforcer (R-S*).

江南八俠多數是歷史上斑斑可考的人物，周潯、路民瞻、呂元是詩畫名家；甘鳳池則是武術名家，而且自認具有將帥之材。甘鳳池在《清史稿》中有傳，周潯在相關方志和江南案相關資料中，也都有記載；呂四娘雖然不能確知是否存在，但被依附為父親或祖父的呂留良是《大義覺迷錄》案的重要人物。從現有傳記資料看來，如果周潯、甘鳳池、呂四娘、路民瞻、曹仁父、白泰官、呂元等人曾經是一個群體，那麼這個群體中，周潯、甘鳳池和呂四娘等三位成員可能都在盛年，白泰官和呂元可能是中年，路民瞻和曹仁父可能已經是老年，而這個群體的全盛時期應該在康熙中期。但相關諸文本中所言，以康熙晚年至雍正年間為主，且設定周潯為老年的情節，恐怕與歷史不甚相合；也就是說，如果創作者設定時間背景在康熙晚年至雍正年間，依照現有歷史資料看來，曹仁父很可能已不在人世，白泰官、呂元和路民瞻應該已是耄耋之年，周潯、甘鳳池和張雲如已經步入中老年，呂四娘則可能是一位少婦。其次，江南八俠絕不是好勇鬥狠、有勇無謀的莽夫，不是拿武藝招搖的演員，也不是一般的土匪。八俠不會像土匪一樣燒殺擄掠，相反的，他們是有智識、有胸襟、有思考和判斷能力的知識分子，他們是有意識地做自己要做的事。他們不但有理想有抱負，而且絕不會讓自己落於土匪行徑。正因為八俠是有意識地為理想而努力奮鬥，當理想無法實現或困難重重時，他們必將因此極為鬱悶、無聊、悲憤難平。 　　江南八俠在文本中的形象，大致可以陸士諤《八大劍俠傳》為界，分為江湖異人時期和民族英雄時期。在江湖異人時期，由於俠客們負有異於常人的武藝，難免會有人在需要幫忙時主動上門請求，這就像文筆好的人會有需要代筆者上門請託一樣地合乎邏輯。透過武術高低來定社會地位是後來武俠小說中，所謂江湖的重要原則，也是習武者成功與否、自我實現與否的準則。維護治安、為鄉里除惡則是習武者能否被視為俠客的重要標準。今日武俠小說中常見之基本的行走江湖原則之一──學武之人，尤其還學到天下知名，就不能不為民除害，至少必須照顧桑梓、造福鄉里；學武之人，如果到天下知名的習武者家附近作案，則無異是向其挑戰，以及透過比武試藝訂定社會地位的部分，早在清末民初的此時就已奠基。 　　民族英雄時期的作品，可以很明顯地看出以長篇形式為主。由於篇幅足夠，並且為貫串長篇作品，使結構更為謹嚴，創作者在俠客的習武與成長經歷、不斷地行俠仗義和遊歷過程，以及俠客的內心世界與感情歸宿方面，較江湖異人時期著墨更多。另外，創作者在主張反清時，如何避免流於「為反對而反對」的膚淺內涵非常重要，成長經歷與反清的關係，就是創作者使用的方法之一。另外，在江湖異人時期還只是簡單的男俠勝女俠後，就把女俠娶回家，到了民族英雄時期，因為女俠的出現，在剛猛的打鬥場面中插入纏綿的言情片段已不只是調節文氣，而是正視俠客如同常人一般必備七情六慾，並借兒女之情表現俠客的內心世界，使俠客的形象更趨完整。大俠們的最高理想不再只是建功立業或爭得天下第一，而是人格的自我完善或生命價值的自我實現。 　　由於江南八俠活躍的時期主要在康、雍、乾時期，這段時間內的幾個歷史公案都成為文本中，江南八俠不可避免的重要經歷；這在民族英雄時期的文本特別明顯。尤其創作者喜歡以雍正奪嫡案、年羹堯案、查嗣庭案、《大義覺迷錄》案、呂留良案，做為醜化雍正的工具；以查嗣庭案中的「維民所止」附會為雍正死時無頭的預言；以《大義覺迷錄》案強調雍正思慮謹嚴，行事周詳；以呂留良案中呂家的抄家滅族之慘，為雍正暴卒提出解釋（或說揣測？）──呂家遺孤呂四娘刺殺雍正。 　　雖然江南八俠與真實歷史之間關係密切，但小說畢竟與歷史不同，武俠小說只是依附在歷史上的某一個定點，以真實歷史為背景，虛構一個江湖世界。如果將江南八俠相關諸文本放在江湖世界的特徵：「與官府世界分庭抗禮，互不干涉內政」、「俠客活動的非組織化」和「高度倫理化的社會格局」，和江湖世界構成的四大要素：「江湖人」、「江湖土」、「江湖事」和「江湖道」下檢視，《雍正與年羹堯──新血滴子》以前的江湖世界固然不像俠義小說如《水滸傳》、〈趙太祖千里送京娘〉那麼寫實，但也沒有像今日武俠小說中的那麼完整。雖然江南八俠自有獨立的群體、價值觀和生活，而反清復明也是整個群體的大目標，但不論是行俠仗義或殺雍正，諸俠的活動基本上都是個人游擊式的、非組織化的，主要以個人意志和力量來對抗江湖的風波險惡。門派組織也只是學習的過程和源頭，既不能成為獨立於官府社會外之江湖世界的重要組織力，也還不具有約束習武者的重要規範。 　　藉由對江南八俠的研究，不但有助於了解歷史事實與小說虛構之間的關係，也有助於了解清代以降之武俠小說發展軌跡。另外，清末民初的社會文化為仗武行俠小說的發展提供有利的條件，而時人重視的行為和價值如：捨生取義、利國利民、尚武精神、擔當精神、反體制、具有原始血氣、相信非理性手段、暗殺……等，也都體現在江南八俠相關諸文本中。換言之，我們無須遍讀清末民初以降，超過一千種的仗武行俠小說作品，只要從江南八俠相關諸文本中就可以看到當時社會文化的縮影，這正是通俗文學的重要價值。

序論では研究史を踏まえ、マイモニデスの時代の政治・社会的背景、彼の生涯と著作を概観し、中世ユダヤ思想における彼の思想の位置づけと影響関係を考察した上で『迷える者の手引き』読解の方法論を提示した。本論では「神の本質と属性」、「戒律と人間の自由意志」、「マイモニデスにおける神への道程」の三つを中心的テーマに据え、それらを副題の「神を知解することと人間の生き方との相関性」に結び付けて考察した。 / In the Introduction, based on the History of Maimonidean Study, I surveyed the position of Maimonides' thought and the influential relations among the Medieval Jewish Thought, and then, presented the methodology to read "the Guide of the Perplexed." In the main part, I set the following three subjects, i.e., 'the Essence of God and His Attributes,' 'God's Commandments and Man's Freedom of the Will,' and 'the Transitional Path to God in Maimonides,' to the central theme, and examined these three subjects by connecting with the subtitle, 'the Correlativity between Man's Comprehension of God and His Way of Life.' / 博士(一神教研究) / Doctor of Philosophy in Monotheistic Studies / 同志社大学 / Doshisha University

認知功能的提升是當今神經科學領域中的研究重點之一，但其神經機制尚有待釐清。本研究利用一種用於改善阿茲海默症臨床的非競爭型N-甲基-D-天門冬胺酸受體拮抗劑memantine，檢測其對於大白鼠在不同時距相關操作式制約行為及空間工作記憶行為之影響效果。實驗一為針對時間屬性的操作式制約行為實驗，運用大白鼠的區辯性增強低頻反應作業（DRL 10秒行為）與固定時距作業（FI 30秒行為）之行為作業，並操弄連續訓練與間歇訓練的兩種不同模式，測試memantine對前述四組受試的操作式制約行為在表現、消除與自發恢復等三階段之劑量反應。實驗二利用配對性延遲T迷津作業區分出不等基準線(表現好與表現差)之受試，再加以藥理實驗，測試memantine對於前述兩組受試之劑量反應。實驗一結果顯示，受試在兩種不同訓練模式下經十五次習得訓練後，在兩種操作式壓桿行為的壓桿反應相關指標中都有明顯的差異，這證實不同的行為訓練模式會導致學習後的表現有差異之別。memantine藥理實驗結果顯示，此藥對於上述四組受試的操作式行為之三階段的影響效果，會因為不同訓練模式與不同作業而異。實驗二結果顯示，memantine提高空間工作記憶的正確率在表現不好的組別有很顯著的藥效，這證實memantine對於空間式工作記憶行為的影響，也會因學習基準線的不同水平而異。在行為實驗後所進行的蛋白質表現量檢測中，memantine（5 mg/kg）只對五個測試腦區中的背側紋狀體中ERK1磷酸化程度有明顯上升的影響，而其對ERK2及CREB的磷酸化在所有腦組織中皆沒有顯著的影響。綜合以上結果，memantine影響時間與空間屬性的相關行為之藥理效果，會依行為的不同習得歷程(或行為背景經驗)及基準線表現程度而異，而此項行為藥理效果，可能與紋狀體中ERK1的磷酸化有關。 / The neural basis of cognitive enhancement is one of the intriguing topics in neuroscience research; however, the underlying neural mechanisms remain to be elucidated. This study examined the effects of memantine, a non-competitive N-methyl-D-aspartate (NMDA) receptor antagonist which is used to treat Alzheimer’s disease in clinic, on operant behaviors and spatial working memory. In Experiment 1, using the differential reinforcement for low-rate-response 10 sec (DRL 10s) and the fixed-interval 30 sec (FI 30s) operant tasks, and with the manipulation of two different training regimens (continuous vs. intermittent) in the acquisition phase, the effects of memantine were evaluated in three stages of behavioral tests including the performance (right after the end of 15-day acquisition), the extinction, and the spontaneous recovery (after the extinction). In Experiment 2, memantine were tested in the subjects with different level of baseline performance (good vs. bad) on the distinctive patterns of operant responding in four different groups which received DRL 10s and FI 30s with different training regimens; indicating that behavioral task and training background are critical to the operant performance of temporal operant behaviors. Such behavioral outcomes led the dissociable effects of memantine appeared in between the four groups as tested in all three different stages. The results of Experiment 2 showed a profound improvement of the correct responses rate on spatial working memory in the low-baseline group as compared to the higher-baseline group. With a pretreatment of memantine (5 mg/kg), brain tissues in five selected areas were collected for western blot assays of ERK 1, ERK 2, and CREB. The results only revealed a significant increase of ERK 1 phosphorylation in the dorsal striatum. Together, the effects of memantine to improve cognition-associated processes in the temporal operant behaviors and the baseline of performance, and the present observation of cognition-enhancing effects of memantine may be resulted by the ERK 1 phosphorylation in the dorsal striatum.

已實現投資報酬率與無風險利率之差、被稱為超額報酬，而股票的預期報酬率超過無風險利率的部份則為股票風險溢酬，是許多資產評價模型的重要依據，例如資本資產定價模型。有不同的理論架構解釋說明風險溢酬值，例如；股票風險溢酬的迷思、短期損失的憎惡、生還存留因素和回歸與偏離平均值等等。 研究台灣股市的超額報酬與股票風險溢酬，有助投資大眾和企業理性面對股市的預期報酬和風險，對台股才有合理的期望報酬值。分析1967年迄2003年的台灣金融市場，計算過去37年長期的幾何平均年報酬率，以臺灣證券交易所發行量加權股價指數為台股市場報酬率，已實現台股實質年報酬率為6.71%。無風險報酬率使用第一銀行的一年期定期存款利率，實質台幣存款年利率為3.07%，消費者物價指數年增率則為4.80%。以年資料計算的台股實質超額報酬，算術和幾何值分別為12.48%和3.63%(年)，計算月資料算術平均和幾何平均值分別為0.77%和0.25%(月)。過去37年長期的台股超額報酬現象未較歐美市場的情況更加明顯，也比一般市場的預期報酬率低。 因資料取得的限制、台股的理論超額報酬方面，1991年迄2003年的近十三年來，經固定股利成長模式和盈餘成長模式的兩種計算方式，台股的實質超額報酬分別為 0.6%和-4.3%，此時期台股的投資報酬率比起台幣存款並不突出、且是低超額報酬。同期的已實現的實質超額報酬值；算術平均1.69%和幾何平均-3.35%。評估目前台股風險溢酬，將十分接近過去37年長期歷史資料得到的超額報酬數值，算術年均值為12.48%(年)和0.77%(月)，幾何平均分別為3.63%(年)和0.25%(月)，低風險溢酬是當前台灣股票市場的一般現象。 / The difference between the observed historical investment return and the risk-free interest rate is the excess return. The equity risk premium, ERP is the expected rate of return on the aggregate stock market in excess of the rate of risk-free security. ERP is one of important factor of many asset-pricing models, including Capital Asset Pricing Model, CAPM. There were many theories and factors to explain the equity risk premium; equity premium puzzle, myopic loss aversion, survivorship bias, mean reversion & aversion and etc. Studying the value of Taiwan equity excess return and risk premium is fundamental for investors and institutions evaluating the expected market investment return and risk. Analyzing the data from year 1967 to 2003 for thirty-seven years long holding period, Taiwan Stock Exchange Capitalization Weighted Stock Index as Taiwan stock market return, the realized real return was 6.71%. One-year bank time deposit rate as NT dollars risk-free asset rate and real interest rate was 3.07% and consumer price index, CPI annual growth rate was 4.80%. The historical real yearly excess return was 12.45% for arithmetic mean and 3.63% geometric mean; the historical real monthly excess return was 0.77% for arithmetic mean and 0.25% geometric mean. Taiwan realized equity excess returns were not higher than the returns in the developed countries and were also lower than the market's expectation. Due to the limits of available data, the theoretical equity excess returns that were calculated on two theoretical models; Constant Growth Dividend Discount Model (dividend yield model) and earnings yield model were 0.6% and -4.3% from year 1991 to year 2003. Comparing the same period of historical realized excess returns of 1.69% for arithmetic mean and -3.35% geometric mean, Taiwan stock market returns were not spectacular. The current equity risk premium of Taiwan stock market is low and should be near the level of the long historical realized equity excess return.