本研究以財務長與審計委員會相對任期作為財務長與審計委員會相對影響力之指標，探討財務長與審計委員會相對影響力對財務報表重編之影響。利用2007至2014年間中國滬深A股為樣本，本研究發現，財務長之任期較審計委員會長時，財務報表越有可能重編，顯示財務長相對於審計委員會影響力較大時，會降低財務報表品質。本研究亦發現，前述情況並不因為客戶重要性較高而更加明顯，顯示財務長與審計委員會相對影響力與財務報表重編之關係，不會受到客戶重要性的影響。 / This thesis uses the relative tenures of CFO and audit committee as an indicator of the relative power between CFO and audit committee, and examines the relation between the relative power of CFO versus audit committee and the probability of financial restatement. Based on a sample of A-share stocks listed in Shanghai and Shenzhen during 2007-2014, the empirical result shows that when CFO has relative higher tenure than audit committee, the incidence of financial restatement increases. This result suggests that CFO who has more power than audit committee tends to compromise the quality of financial statement, at least in terms of financial restatement. The empirical result also shows that the effect of the relative power of CFO and audit committee does not vary among clients’ importance.

在針對投資組合之信用風險模擬時，如何選取適當的模型來解釋資產間的相依程度是非常重要的。最常用來解釋投資組合的模型為常態關聯結構模型，但近年來發現t關聯結構模型更適合用在解釋投資組合間的相依程度。蒙地卡羅法在針對信用風險模擬上是一個很實用的工具，但是其缺點是模擬時間久且對於發生極端情況時，將不易得到結果，導致其效率過低。而此時，重要性取樣法則是一個很適合用來針對信用風險模擬所使用的工具，其優點在於模擬時間短，且針對極端值也能夠模擬出結果。 本篇文章將蒙地卡羅法作為比較的基準，以Glasserman, and Li (Management Science, 51(11), 1643-1656, 2005) 所提出的二階段重要性取樣法，我們稱為GIS，以及將Chiang et al. (Journal of Derivatives, 15(2), 8-19, 2007) 所提出的重要性取樣法加以改良，我們稱為MIS，針對bassamboo et al. (Operations Research, 56(3), 593-606, 2008) 所提出的極值相依模型，也就是t關聯結構模型進行模擬研究，並根據模擬出來的數值結果判斷重要性取樣法的估計效益，此外，我們也會對常態關聯結構模型進行模擬。依據模擬結果我們發現到，整體而言，在模擬時間上，MIS法所花費的時間較GIS法來得少，在準確率方面，MIS法一樣是比GIS法來的準確，也較為穩定，且MIS法所達到的變異數縮減效果更佳。

重要性（Materiality ）是審計過程中一個極重要但又很模糊不清的觀念。一方面審 計人員必須依據重要性來作專業判斷，但是另一方面又沒有任何準則來指導重要性判 斷。因此，審計判斷的品質經常良莠不齊，而投資大眾對查帳報告的信心也大為降低 。就因為這個綠故，所以研究審計重要性判斷成為一件刻不容緩的事情。 本論文採用Brunswik的透視模型（Lens Model）來研究重要性判斷。研究對象為某大 學會計系四年級的６０位學生，研究內容包括：（１）要求這６０位學生根據３個線 索（Cue ）來判斷一項存貨沖銷事件是否重要（這３個線索分別是該沖銷金額對淨利 百分比、對存貨百分比、以及對總資產百分比）；（２）研究這６０位學生的重要性 判斷策略（Judgment Policy ，使用統計ANOVA 與ω□）以及判斷的品質（Judgment Quality ，使用Stability 、Self-insight、與Consensus 三個指標）；（３）研究 穩定性（Stability ）、自我洞查力（Self-insight）、一致性（Consensus ）三者 之間的關係。 研究結果顯示學生的穩定性、自我洞查力、一致性均很低（其總平均分別為：．３９ ９７、．２０５０、．３８６９），而且個別差異很大（其標準差分別為：．４００ ８、．７３６９、．１８４８）。至於三個指標之間的關係也並不明確（穩定性與自 我洞查力、一致性的相關係數分別為：．０１９５、．２７４２，而自我洞查力與一 致性則為．０１０４）。

「重要性」是會計資訊提供的門檻，審計人員執行查核工作的目的在確保會計資訊的 品質，在查核過程中對事件重要性皂評估若有一致的判斷，則能提高會計資訊的可靠 性及比較性，進而提昇會計資訊的品質。 本論文係以透視模型的觀念性架構，探討審計人員對重要性判斷的政策及品質，並以 De Angelo 的擔保品效果理論為基礎，分析會計師事務所規模及審計人員職位對判斷 品質的影響。 研究個案為判斷存貨沖銷事件的重要程度以決定在損益表中單獨揭露。相關的線索為 沖銷金額對（１）淨利的比例，（２）存貨餘額的比例，及（３）資產總額的比例， 做３＊２＊２完全因子設計，以隨機方式選取不同規模事務所中不同職位的審計人員 六十人，進行當面的訪視及作答。 判斷模型的建立是採用變異數分析法，計算ω□值衡量各線索解釋差異的能力，研究 結果顯示： （１）淨利因素是多數受試者最重視的線索，但是各項線索所能解釋差異的能力較國 外研究結果為低。 （２）判斷品質衡量標準，判斷的共同一致性、穩定性及自我洞察力三者均較國外研 究結果為低，其中以自我洞察力與國外研究結果差距最大。 （３）事務所規模及審計人員職位僅對判斷的共同一致性有顯著的影響。

Export oriented institutional changes are increasingly being recognized as important factor in the economic development of countries. These changes have led to an increase in the global movement of Multi-national companies. Besides bringing capital to their host countries, these Multi-national companies facilitate the transfer of technology, organizational and managerial practices and skills as well as access to international markets. Economic diversification is also another result of the surge of export oriented institutional changes. The loss of the traditional preferential markets and decline in the global prices for exports in agricultural sector as a result of globalization threatens the once dominant agricultural sector of developing countries. More and more countries are striving to create a favourable and enabling climate to attract investment as a policy priority utilizing export oriented institutional changes. Liberalisation and deregulation are taking place in almost every corner of the world with the aim of allocating resources more efficiently in an environment which is favourable for free flow of resources seeking higher efficiencies. Technological progress further accelerates the rate of globalisation by making better means of production and transaction available. Today's dynamic environment imposes a very challenging task for policy makers in charge of policy formulation on trade and investment affairs. These policy makers need to quickly evaluate the current situation, new opportunities and threats, and re-direct the course of the future. It requires gathering of accurate and the most up-to-date information and constant reassessment of policies based on that information. While the efficacy of incentives as a determinant for economic development is often questioned, countries have increasingly resorted to such measures in recent years. In particular they have been offering tax incentives to influence the location decisions of investors. The theme is very appropriate for Belize at present. The country has undergone structural changes. It is essential to re-evaluate the efforts undertaken by Belize to learn from and build on these initiatives. Belize’s export oriented institutional changes include The Commercial Free Zone Act of 1994 (Revised Edition 2000), The Mines and Minerals Act of 1994 (Revised Edition 2000), The Export Processing Act of 1991 (Revised Edition 2004), The Fiscal Incentives Act of 1996 (Revised Edition 2000) This paper utilized quantitative and qualitative methodologies to carry out a descriptive analysis of Export Processing Zones. The analysis draws lessons from the accumulated experience in several regions and countries. The relationship between Belize’s export oriented institutional changes, particularly the Export Processing Zone program, and the Belizean economy has been determined to be closely linked. The program has developed since 1990 from being identified with the old labour intensive garment zones of the past to the new dynamic emerging zones active in Data-Processing, Agro-Processing and Manufacturing. Also the program keeps evolving by accordingly updating the regulations and the administration of the program. In terms of employment, while the program does not employ a high percentage of Belizean employees, only two point eight (2.8) percent annually from 1998 to 2003; it has been providing a constant level of employment. This employment forms a foundation upon which other sectors of the export oriented institutional changes may build upon. Also EPZ are characterized by high female employment, which in Belize makes up approximately one third of the employed labour force. Therefore the program may be providing significant employment in terms of the female employment sector. EPZ exports have accounted for a significant amount of Belize’s total annual export since 1998, approximately thirty two (32) percent. Comparatively the program has also accounted for ten (10) percent of Belize’s annual gross import. While the human resource development of the companies in the program are mostly task specific and geared toward enhancing productivity and efficiencies within the companies, the employees are exposed to new technology, entrepreneurial and organizational skills that are diffused into the economy. The EPZ program, as an integral part of the overall export oriented institutional changes in Belize, is creating a favourable environment for investment and economic development The sub regional, regional, and multilateral integration which has accompanied globalization challenges EPZ to readjusts its operations to adhere to the new world order. Several countries have had success in adjusting their EPZ programs to the global integration and other countries are currently in the planning and preparation stages. Therefore it is evident that the challenge can be met and overcome and the end result proposes to be on global market and economy where the ultimate aim of the welfare of all may be attained. It is essential that on a global level, EPZ policies and other export oriented institutional changes are upgraded to reflect the new paradigm shift.

如何有效率管理或執行組織間交易活動，是學術界及實務界有興趣的議題。以成本觀點觀之，交易組織管理交易活動愈多，即代表付出的管理成本愈高。 本研究以交易買方角度，思考組織間交易過程中，我方管理交易活動複雜度。故本研究焦點設定在我方在決定與他方進行交易後，交易過程中的協調與管理活動。研究問題主要欲瞭解我方在決定交易對象後，執行該交易的管理成本為何；即瞭解影響我方管理交易付出活動多寡的因素為何。 為能確認研究議題相關之實務現象，本研究先進行個案研究，訪談六家電子產業公司、十二個交易個案。與理論對話後，整理出「我方交易管理複雜度」構面，並建構出本研究架構﹕考量交易特性、交易重要性及交易經驗與知覺他方投機行為對我方交易管理複雜度之影響。進一步地進行實證研究。 本研究透過問卷調查，共蒐集電子製造業產業170個有效交易樣本，研究假設經檢測後，本研究結果發現，在組織間交易過程中影響我方交易管理複雜度之因素包括：(1)交易任務流程的相互依賴程度愈高，因作業流程彼此銜接或為合作的資訊取得需要，我方管理重點將置於流程的協調，故我方會付出較多的管理行為來溝通協調交易的作業，包括對內整合與對外(即他方)溝通協調的管理活動。(2)交易任務不確定程度，包括交易品質的不確定與交易數量的不確定，我方將增加管理複雜度，例如進行監督、增加互動頻率或溝通來降低品質與交期的不穩定。(3)交易的重要程度高，表示該交易標的物取得對我方具有潛在優勢。當交易的作業重要性愈高時，我方在管理該交易時將增加管理行為取得或增加我方權力、或降低對他方的依賴，故我方交易管理複雜度將提高。(4)當我方知覺到他方有投機行為時，因交易任務流程相互依賴高的情況下，我方擔心資訊不對稱可能造成我方損失、或擔心我方須不平衡地多付出，我方除加強溝通協調取得更多作業資訊外，也須付出其他監督他方行為成本，形成我方整體交易管理愈趨複雜。 / Managing inter-organizational transactions efficiently is an important issue in practice and in research field. From cost perspective, when an organization manages transaction activities more, it pays the management cost more. This study takes the view of the buyer organization on transactions, and it considers the management complexity for inter-organizational transactions. It focuses on coordination and management for inter-organizational transactions after buyer organizations decided the transaction party. In other word, this research wants to explore what influence buyer organization to manage inter-organizational transaction on management cost. In order to explore the issues, this study adopted two study researches. At first, this study took 12 case studies form 6 companies to develop the construct of management complexity and build this research framework. Secondly, the study collected 170 samples of transaction in electronic industry by questionnaire investigation. The findings include below. (1) The higher the task-process interdependency is, the more management complexity buyer organizations pay for coordinating, communicating inter-organizational operational process or gathering more transaction information. (2) Task gets more uncertainty, including quality uncertainty and quantity uncertainty of transactions, then buyer organization will do more management complexity, e.g., monitoring transaction party and interacting frequently to each other. (3) As the transaction is important to buyer operations, buyer organization would do more management complexity in order to get more power in inter-organizational relationship or reduce dependency on transaction party. (4) If buyer organizations feel the transaction party opportunism, they would pay more attentions to safeguard. Especially, buyer organization will do something more to prevent getting loss from asymmetric information, when the task-process is getting more interdependent. Hence, the higher task-process interdependency trends to make buyer organizations pay more management complexity, when buyer organizations perceive higher opportunism

2007-2008的金融大海嘯中，影子銀行及系統重要性金融機構(systemically important financial institutions, SIFIs)扮演重要角色。金融機構證券化移轉資產的個別風險，以資產池最低報酬作為擔保品，發行高品質債權證券。隨投資人財富愈多，對安全資產需求愈大，金融機構擴大槓桿及風險資產投資。SIFIs數量少但規模大，相對於其他小型金融機構有較好的投資效率，其投資、證券化及其他業務與經濟體系具有複雜而規模大的關係，具有太大、太複雜以致不能倒的性質。SIFIs透過證券化移轉個別風險，在景氣蕭條及經濟個體普遍忽略尾端風險下，金融體系具有脆弱性。在已經存在SIFIs的金融體系下，金融脆弱性隨SIFIs及其他小型金融機構投資效率差距愈大愈加增強。 / The shadow banking system and systemically important financial institutions (SIFIs) play important roles in recent financial crisis. Financial institutions (FIs) securitize risky assets and use the lowest payoffs of the securitized assets as collateral to issue riskless debts. As the demand for riskless assets increases, FIs initiate more risky assets and increase leverage. SIFIs are large and advantageous to invest in risky assets compared to small FIs. The complex connection between SIFIs and economy make them too big or complex to fail. SIFIs transfer idiosyncratic risk and undertake systemic risk via securitization. Financial system is fragile to recession when entities neglect tail risks. In the financial system in which SIFIs exist,the financial fragility is severer when the gap of the investment ability between SIFIs and other small FIs becomes larger.

在本論文中我們提出了一種個人化情緒／情境音樂檢索方法。主要的概念為根據使用者的feedback來找出符合該使用者情緒／情境的音樂在features上所具備的特性，藉此達到個人化的效果。為了更明確表示出音樂的特性，我們利用統計features分布情況的方式來做為音樂的表示法。同時，定義了兩層features自動weighting的方法來決定每個feature在不同情緒／情境下的鑑別度。最後，我們將探討音樂特性與音色對不同的情緒／情境會造成什麼樣的影響，並試著分析音樂與情緒／情境間的關係。 / In this paper, an approach for personalized music retrieval based on emotions / situations is proposed. The main concept is to find out the properties of music that caused the user have emotions / situations responses via the user feedback. And using the user feedback will help us to establish a personalized music retrieval system based on emotions / situations. To represent the music properties clearly, we proposed a new method of music representation based on statistics. And we defined a two-phase features re-weighting method to find out the importance of features in different emotions / situations. At last, we will discuss the influence of music properties and timbre on different emotions / situations, and try to analyze the relationship between the emotions / situations.

在市場競爭不斷加劇之環境下，會計師事務所究竟要如何因應？削價競爭固然為一種經營策略，但並非長久之計。過去文獻指出，會計師事務所可藉由發展產業專業化以因應市場競爭，且會計師產業專精對審計公費有正向之影響。然而，過去文獻亦指出客戶產業特性對審計公費訂價有一定之影響力，故本研究目的乃在探討會計師產業專精對審計公費影響力之大小，及是否會計師產業專精對審計公費之影響力會大於客戶產業特性對審計公費之效果。實證結果顯示會計師產業專精與客戶產業特性兩者對審計公費皆有相當之影響力，但客戶產業特性對審計公費訂價之影響較大。另外，在將樣本區分為高科技產業與傳統產業後可發現，會計師在高科技產業之專長對客戶而言較具有價值，產業專精會計師在高科技產業對審計公費訂價之影響力較大、能夠收取較高之審計公費。 / How can accounting firms build up competitive advantages when they face increased competition? One way is to cut costs and decrease prices, but this may not be the best strategy in the long run. Casterella et al.(2004) suggest that product differentiation based on industry expertise may be a more sustainable solution because auditor specialization shows a significantly positive association with audit fees. Prior researches also indicate that client industry characteristics influence audit fees. Therefore, the main objective of this study is to examine whether auditor specialization and client industry characteristics influence audit fees and which one has greater effect. We find evidence that auditor specialization and client industry characteristics both have an influence on audit fees, while client industry characteristics exhibit even greater impacts. Furthermore relative to conventional industries, auditor specialization in high technology industries demonstrates greater value, and contributes to higher audit fees.

博士(法学) / 甲第520号 / x, vi, 227p / Hitotsubashi University(一橋大学)