本研究探討影響臺灣跨國企業進行移轉訂價規避納稅義務之主要因素，並進一步檢視臺灣現行選案條件之合宜性。此外，本研究驗證陳明進與蔡麗雯（2010）實證研究使用公司「移轉訂價偏離同業毛利率之差異數」作為衡量移轉訂價代理變數之可信度。本研究使用2004年至2013年度經稅捐稽徵機關以不合常規移轉訂價查核調整之公開發行公司案件計101筆資料進行分析。實證結果發現，在其他條件不變情況下，公司毛利率、營業淨利率及純益率低於同業，進行移轉訂價程度愈高；資產報酬率愈高者，進行移轉訂價規避稅賦程度愈高；研發支出愈多及資產規模愈大等發展能力愈強之公司，愈容易進行移轉訂價；海外子公司占所有子公司比率愈高之跨國企業公司，進行移轉訂價程度愈高。另現行移轉訂價選案條件有關損益鉅幅波動及獲利低於集團其他企業，與企業進行移轉訂價並無顯著關係，可能有進一步檢討該項選案條件之必要。 至於檢視以「移轉訂價偏離同業毛利率之差異數」衡量移轉訂價代理變數之合宜性，資產報酬率、營業成長率及企業規模與本研究實證結果一致，惟大股東及董監經理人持股比、四大會計師事務所、負債比例及電子業等其他變數之結果並不一致，顯見以移轉訂價偏離同業毛利率之差異數作為移轉訂價之代理變數，可能與實際查核狀況不儘相同。 / This study examines the major factors affecting multinational enterprises (MNEs) in Taiwan to avoid tax obligation on transfer pricing (TP), and analyzes if the current criteria of TP case selection is appropriate. In addition, this paper tries to verify the credibility of an indicator developed by Chen and Tsai (2010) to estimate abnormal TP transactions of companies. We measure transfer pricing noncompliance in terms of tax audit adjustments made by tax authorities. Base on a sample of 101 TP audits on public companies in Taiwan from 2004 to 2013, our empirical results show that companies which have lower gross profit margin, operation margin and net profit margin than the profit standard of the same business (D_PROFIT), higher return on assets (ROA), higher research and development (RD) expenditure, bigger firm size (SIZE), and higher proportion of foreign affiliates in all subsidiaries (MULTI) have more TP aggressiveness. Moreover, there are no significant relationships between the current criteria on TP case selection in Taiwan such as huge fluctuations in profits (D_CH_NI) and profits below the other companies in the MNE group (D_GROUP) and TP aggressiveness of MNEs. As regards the credibility of the indicator to estimate abnormal TP transactions of companies, we find that the results of ROA, growth rate (GROWTH), and firm size (SIZE) are consistent with this study, but the results of other factors such as shareholding ratios of the major shareholders, the directors, and the supervisors (SH), four major accounting firms (CPA4), ratio of debt (LEV) as well as electronics industry (ELECO) are not consistent with this paper. It means that the indicator to estimate abnormal TP transactions may not reflect the real TP audit adjustments.

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隨著工業發展而產生的環境污染問題，促成了綠色供應鏈管理的提倡，尤其歐盟公佈危害物質禁用指令 (RoHS) 和廢電機廢電子設備指令 (WEEE) 的法令，讓企業對於環境保護的責任要盡更多心力。在現有供應鏈上加入綠色的考量，對於公司而言勢必是一種新的挑戰與壓力，這中間存在著許多的不確定性，風險也變得越來越複雜，在經營的過程中不可能完全去除風險，一個不利事件的發生會使得企業在營運、績效表現、成本、品質上，造成負面影響及損失，因此對於風險更應該站在事先預防的角度來管理它。如果能適當地評估，依據風險對於公司的重要性、潛在反應及其嚴重性，得知風險控管的優先順序，才不會將資源浪費在發生機率很小、影響程度不大的風險因子上。 綠色供應鏈的實施會關係到上下游廠商，是一種整合、全面性的作業活動，從上游的採購原料、製造過程、到下游的回收動作，都必須要有綠色的考量，需要彼此互相整合才能成功實施，這當中也會產生許多的問題。由於危害物質限用指令 (RoHS) 有規定八大類的電子電機產品限制使用鎘、鉛、汞、六價鉻等物質，會影響到採購和製造階段；而廢電子電機設備指令 (WEEE) 有規定回收率和與回收再利用率，會影響到企業的回收階段。因此從不同角度出發，找出企業在綠色採購、綠色製造、回收當中，不同階段中可能衍生出的風險因子，如此才能做到完整的考量。 本研究建立整體的綠色供應鏈風險評估模式，探討企業在實施綠色供應鏈可能所衍生的風險，找出影響的風險因子，並透過失效模式與效應分析(FMEA)，加入模糊語意概念、灰關聯分析的方式，針對風險因子可能所帶來的嚴重性、發生度、難檢度進行分析評估，藉由計算出的風險值，可以排列出風險因子的風險大小，讓企業能知道控管的優先順序。 / Along with the industrial development has brought the environmental pollution question. Therefore green supply chain management was promoted. European Union announces the WEEE directive (Waste Electrical & Electronic Equipment) and RoHS directive (The Restriction of the use of Certain Hazardous Substances in Electrical and Electronic Equipment). These regulations make manufactures & retailers take charge of environment protection. The green consideration will be subsumed into the supply chain. It’s a new challenge and pressure for company. Because green supply chain management implies uncertainty, the risk will be become more and more complex. The company couldn’t remove risk. The occurrence of harmful event may cause cost, quality, performance negative affection and financial failure. The company should manage risk in advance. If the company can appropriately assess risk, according to the importance, severity, occurrence of risk, the company will get the priority of risk control, we won’t waste our resources on the risk that the occurrence probability is very small and influences degree is not very great. To implement the green supply chain will influence supplier, manufacturer, recycler and Name Brand Vendor. It’s a conformability and comprehensive activity. From supplier purchase raw material to Name Brand Vendor recycle the product, they all need a green consideration. They need the mutual conformity, so they can successfully implement the green supply chain. The RoHS has already ruled the restriction that Electrical and Electronic Equipment are limited to use Lead, Cadmium, Mercury, Hexavalent Chromium, Polybrominated Biphenyls, etc, and therefore will influence the purchase stage of business and the manufacturing stage of business. The WEEE regulation include recovery rate and recue/recycling rate, so will influence the return stage of business. We should assess risk from the different viewpoint, and find out risk factor of the purchase stage, the manufacturing stage of business, and therefore we can have a complete consideration. This research constructs the risk assessment model for green supply chain, and probes into influential risk factors when the company implements the green supply chain. This study based on Failure Mode and Effects Analysis (FMEA) that combine fuzzy set theory and grey theory, to analyze severity, occurrence, detection of risk factor. Results of this study show that risk value of risk factor, the arrangement of risk factors and the priority of risk control.

由於現代經濟環境迅速變遷，股份有限公司已成為近代企業之主要型態。企業經營者 透過證券市場取得營運所需之資金，投次大眾則經由證券投資獲取報酬。一般而言， 企業股票投資之報酬來自股息紅利及股票增值，此雨項報酬之大小則與企業盈余之大 小有關，又因為企業未來盈餘之大小含有不確定性，投資者有遭受損失之可能性，乃 有評估投資風險之必要。傳統財務報表無法鑑認投資者（即財務報表外部使用人之一 ）之決策模式，因此財務資料協助投資者評估特定證券風險之能力頗受限制。本文之 目的，既係利用有效資本市場假設及組群理論之有關模式，進行實證研究，以分析及 解釋財務資料與市場風險指票之關係及其評估證券風險之能力，並進一步說明此種研 究方法在會計研究上之意義。全文共分六章二十節，各章主要內容如后： 第一章 說明研究之動機、目的、方法及限制，並概略介紹以後各章之內容。 第二章 闡述風險評估與投資決策之關係，並介紹有效資本市場假設及組群理論在風 險評估上之意義與應用。 第三章 探討財務資料與風險評估之關係，分析會計資訊與市場風險指標之相關性， 俾為實證研究之理論基礎。 第四章 介紹及評述有關市場風險指標與會計風險指標之各項實證研究，俾為建立實 證研究模式之基礎。 第五章 利用國內股票公開上市公司之財務資料，選定若干樣本公司進行實證研究， 將其結果與國外之相關研究比較，以解釋此項實證研究之意義。 第六章 結論與建議。

由於現代企業面臨之風險是多變的，許多有關之法令規定已過時，企業組織可用之資源、成本和效益會產生變化，故企業要能適應未來的變局更需落實風險管理。 企業實施風險管理之重要目標，是為了在損失發生前能以節約的原則，減少憂慮，符合外界規定，並善盡社會責任；在損失發生後能生存，繼續營運，維持收益穩定，以求繼續成長等。然而企業往往會多角化擴充經營範疇，甚至在各處實施特定的經營活動，如此其風險管理將更形複雜。 本文擬以風險管理與損害防阻的實務經驗，佐以理論基礎，說明導入風險管理與損害防阻之目標、策略、程序、計畫、績效評核等，期能使各企業認識、衡量風險，藉由選擇並執行最符合經濟效益之風險管理方法，達到企業永續經營的目標。 其次，以個人在集團內執行安全管理系統和損害防阻安全查勘服務計畫的個案，說明企業損害防阻管理意義、風險的確認、分析與評估、損害防阻管理的執行與考核、績效評估等。最後再以身為企業推動風險管理與損害防阻的一份子，檢視以往歷程提出建議，期能拋磚引玉，讓更多的組織、企業和相關人士重視並推動主動式的風險控制及損害防阻管理。 / Since the risks faced by the modern enterprises are changeable, the laws and stipulations are obsolete and outdated, the resources, costs and benefits used by the enterprises organizations are subject to change, and therefore the enterprises have to carry out the risk management in order to be able to adapt the future changes in situations. The major targets for the enterprises to implement the risk management are for the purposes of reducing the anxiety, conforming to the outside stipulations and fulfilling the social responsibilities sincerely before the losses occur; surviving, operating continually, maintaining the incomes and continuing to grow, etc. if the losses should occur. However, the enterprises often run their business diversified and even operate the specific business activities everywhere, that will make their risk management more complex. This article intends to be written in the view of practical experiences to engage in the risk management, loss prevention and control as well as the assists of theory foundations, depicts the implementations of goals, strategies, procedures, plans and performance evaluations, etc. in risk management, loss prevention and control, anticipating various enterprises to identify and measure the risks by means of selecting and executing the risk management methods which conform to the utmost economical benefits for the goals of running businesses continually. Next, in the case where the writer personally carried out the safety management systems and safety survey service plans of loss prevention and control in group enterprises illustrates the meaning of loss control management, the identification, analysis and evaluation of risk, and the implementation, the verification and performance evaluation of loss control management, etc. Finally, as the member of implementing enterprises risk management and loss prevention and control, the writer examines the past working processes and experiences to offer some recommendations, expecting to throw stones and bring back jade to let much more organizations, enterprises and the parties concerned think highly of and enforce the proactive risk control and loss control management.

企業風險安全管理隨著趨勢的發展和需求，企業安全從原本的被動式保護工作，進步到主動式的預防作為，由原來對實體環境和人員的防護，拓展到資訊網路和商譽競爭力保護的領域，逐漸的成為企業中不可或缺的重要功能部門。 國內一般文獻研究在記載研究企業風險安全管理和危機處理議題，常見以外部觀點為研究方向，來自於實際參與企業風險安全管理第一線和決策人員的個案研究則相對缺乏。本研究是希望以作者擔任台北金融大樓股份有限公司（台北101）首任安全總監期間(2003年九月到2004年七月)，實際面臨之風險安全管理挑戰之狀況及處置為主軸，並以事後結果觀察為驗證，以其他個案和文獻研究來探討：一位在企業中實際負責企業風險安全管理之專業經理人面對各式風險威脅狀況時的決策基礎和作為考量，繼而驗證相關風險管理和安全管理理論在企業安全和風險管理的實際運用狀況及成效。 企業安全管理是風險管理的一部份，重點是在處理風險類別中的純粹風險。風險管理的理論和分析架構為企業安全管理帶來了理論基礎架構，讓每一對應措施對策可以有正確的定位，而達到管理的效率。企業安全管理是一個應用科學，必須要依據實務需要，利用企業安全以及其他領域的專業知識，尋求相當的對策。「安全」代表一種穩定的、在一定程度內可以預期的環境，讓個人或團體可以在追求目標時，不受干擾或傷害，也不必擔心任何動亂或意外。安全管理同時也是一個高度和所處環境互動的過程。其所受影響的變數繁多，影響所產生的結果也多變。所以，企業安全管理不但重視建置上大架構的完善，更重視的是在細節小處的積極維護。 一個良好企業安全管理始自於有一個明確的「企業安全政策」。在這企業安全政策中要揭示企業安全的宗旨。作者以為，企業的安全目標為：「保護企業資產完整，使可能發生的損害降至最低、而使投資報酬及事業機會增至最大，進而確保企業的永續經營。」本研究認為，「實體與環境安全」、「人事安全」、「資訊安全」、「緊急應變計劃」、「企業安全稽核及事件調查」、「企業安全教育訓練及宣導」形成完整的企業安全管理架構，並以「人員」、「程序」和「科技」並重的方式進行，可以達到實效。而「未知」、「瞬時」和「大量」是企業安全管理範疇中危機的三特性，如果這三者同時發生，危機就產生，若是消彌其中一部，危機就有機會可以被制止。 / 關鍵字：企業管理、風險管理、風險評估、企業安全、安全管理、危機管理。 / Along with the business trend and demand, the function of Corporate Security is changing from reactively protection to proactively prevention. It also expends from its original functions on physical and personnel protection activities to information networks and business competition activities. Gradually, Corporate Security is becoming an irreplaceable function in modern business operations. In Taiwan, most of the researches on corporate risk and security management issues were on external perspective. There are relatively limited researches on internal perspective and being done by practioners who could provide the first hand experiences and very own observations. This study is based on the Writer’s own experiences and observations during his tenure as the very first Director of Corporate Security and Life Safety of the Taipei Financial Center Corporation, the owner of the world’s tallest building – “Taipei 101”, in September 2003 ~ July 2004. This thesis records and studies the situations the Writer faced and why certain counter-measures were selected and implemented against some corporate security related theories and best practices, and further, to examine their effectiveness and aftermath impacts. This study finds that the corporate security management is under the umbrella of enterprise risk management. It mainly deals with the area of pure risks. The risk management theories provided fundamentals and core structure for the corporate security management. The corporate security management is an applied science. The successful application requires multi-discipline efforts which employee various domains of knowledge to interact and/or counteract of the changing business environment. In addition to appreciation of the core theories of risk and security management, it is essential to attention to details. A sound corporate security begins with a clearly stated “Corporate Security Policy”, where the mission, objectives, as well as the structures and means are clear defined. The Writer believes that the objective of corporate security management is to “To protect corporate assets, both tangible and intangible ones, and to minimize the potential harms and losses, in order to maximize the investment retunes and business opportunities as well as the continuity of the business.” This study finds that the Corporate Security Management Framework best structured by the Physical & Environmental Security, Personnel Security, Information Security, Emergency Response Planning, Security Audit & Investigation, as well as Security Awareness Promotion and Education. In order to best achieve these, the practioners should equally apply measures on People, Process and Technology. / Keywords: Risk Management, Business Management, Security Management, Crisis Management, Corporate Security.

十八世紀的工業發展富裕了人類的物質生活，生態環境卻也逐遭破壞 ；人們因科技文明引發的現代風險的多樣性、全球性、不易衡量與不易預 測性，遂將傳統注重資源分配的「階級社會」帶領到新的注重風險如何在 社會中平等並合法分配的「風險社會」(Risk society) (Beck,1992)，社 會風險概念乃應運而生。從社會文明演進來看，現代風險與過去風險在本 質上有著極大差異，過去風險多以自然災害的威脅為主，而現代風險則以 科技進步帶來的威亦即公害佔多數，綜言之為風險的不確定性、風險承擔 的不公平性、影響的遲延性與風險產生的社會妥當性。也因如此風險管理 則具相當的「利益衡量」與「政策決擇」色彩，風險溝通遂乃成為有效風 險管理的主要因素，成為綜合其他風險議題如風險認知、風險評估、風險 管理等的橋樑。風險溝通與其他溝通議題的最大差別，前者尤強調人文層 面因素重於科學分析結果。建立一個合理可接受的風險水準與風險認知息 息相關，專家的科學分析結果固然重要，民眾對風險的了解卻多以一般知 識與過去生活經驗認知，再加上現代風險多涉及高度的科技性，專業術語 常令民眾產生距離與不信任感，在公害問題上糾紛多因而產生。風險溝通 除了儘量降低衝突外，更積極地為建立風險的正確認知，加強自我防禦機 能，故公共介入、民眾的參與對於事前與事後溝通的成效，可避免糾紛爭 端的發生。 從７０年代起公害糾紛屢見不鮮，抗議者手段皆多由緩和 後因意見得不到適切回應始引發衝突性高的行動；抗爭者與被抗議者亦多 有組織化趨勢；不管是「事前預防型」或「事後補救型」活動，政府的溝 通方式多仍停留在技術層面單向說服性的宣導亦多為被動；反觀國外對溝 通的努力較為積極，坦誠公開的溝通態度，重視一致、簡明的訊息揭露， 並考慮到居民心理壓力的疏解，強調風險溝通的地方時效性，這是國內糾 紛處理不足之處。由於糾紛事件中多有金錢賠償、健康檢查之訴求，故糾 紛處理與公害賠償制度在事後溝通上就佔極重要角色。日本的公害糾處理 與健康受害補償制度是除了民事訟訴外另闢之行政救濟管道，為衝突解決 與公害損害補償提供了訊速有效的溝通管道。我國有關公害糾紛處理已於 ８２年二月完成立法，至於公害補償卻散見於法令中，盼儘快建立污染者 付費原則、賠償基金的設立及加強公害保險功能，健全風險溝通的角色。

我國向以「美食王國」享譽國際，各種美食不但曾為國人共同驕傲，亦帶來大量觀光人潮與經濟收入。未料，2011年5月「塑化劑事件」揭開我國食安風暴之黑幕，此後毒澱粉事件、黑心油事件等一連串黑心事件爆發，不但使國人對政府食品安全行政管制失去信心，亦讓我國美食商譽嚴重受創。 政府雖於每次食安事件爆發後，隨即召開相應之各種食安會議，提出相關管制改革措施；更透過數次修改食安法，不斷提高對違反法規黑心食品相關業者之罰則。然而食安事件仍不斷爆發，黑心食品不但數量未曾減少，反而製造、加工方法更趨黑心；顯示我國食品安全行政管制完全失靈，傳統法執行制度陷入困境，亟需改革。 我國食安法於2013年6月進行重大修正，此次修正納入以預防原則為前提之風險分析模式，風險分析模式係由歐盟開始發展，主要包括風險評估、風險管理及風險溝通。我國雖擬納入風險分析模式革新食品安全管制，惟食安法似僅將核心置於風險評估之制度設計，有關風險管理措施著墨不多，風險溝通更是付之闕如。因此，修法2年多以來，食品安全仍未能有效管制，食安事件爆發後，更是主管機關手忙腳亂，消費者人心惶惶。 有鑑於傳統法執行制度陷入困境，無法完成食安管制之任務，食安法除納入風險分析模式外，尚設立三級管理機制，亦即採取公私協力與自主規制之手段，主要透過業者自我管理、建立通報系統等措施強化食安管制。藉由與私部門之合作，固可提高食安管制之專業與效率，惟因我國未能體察社會民情與企業文化之差異，徒使自主規制成為政府卸責之藉口，有待進一步檢討。 因此，我國應就食品安全管制應就立法政策、風險分析及供應鏈管制等三方面，徹底檢討並提出解決辦法。 / In Taiwan, “Delicious Food” is well known world wide, and is one of the most proud of issue for Taiwanese. Small eats, and a lot of them, are the big things in Taiwan, and attracted a lot of tourists and brought a favorable income. Unfortunately, the Taiwan food scandal was started by the overuse one of plasticizer as a clouding agent in numerous food and beverage. It followed by “Toxic starch” and “Evil oil event”, which led to lose confidence and ruin administrative regulation of food safety to Taiwan government. Furthermore, there was a huge impact on Taiwan delicious food goodwill in the world. After uncovered each food scandal, Taiwan government tried to organize numerous food safety conferences, and has taken measures to restrain food safety regulation. In addition to food safety law revision, the penalty provision has been enhanced for unscrupulous vendors of food industry. However, food scandal is keeping on going, and the events are increasing in numbers these years. The food manufacturing and refining processes has become more evil. It means that food safety administrative regulation is run out of order, and the traditional law enforcement has faced the difficulty in this changing era. Since June 2013, food safety law revision included the brand new “Risk Analysis” model into “Precautionary Principle” concept. Risk analysis started over by European Union (EU), which is a politico-economic union of 28 member states that are located primarily in Europe. “Risk Analysis” model has three components, including risk evaluation, risk management and risk communication. In Taiwan, we have already taken “Risk Analysis” model on board for the innovation of food safety regulation, but Food Safety Law focused in the accounting system design of risk evaluation. There is only few in the risk management, and no statements in risk communication. Two years after food safety law revision, we still found the administration office has difficulty in facing the new food scandal, and the general populations are still worry about food safety issue. In order to reform the traditional law enforcement in food safety, the Act Governing Food Safety and Sanitation Taiwan included the risk analysis model first. Furthermore, in Taiwan’s food safety regime, the three-tier quality control system refers to self-management by food businesses, testing by independent institutions, and inspections by the government. It means that public-private partnerships (PPP) and self-regulation become a part of new regulation system. Through the cooperation between Taiwan Food and Drug Administration (TFDA) and private industrial association, the professionalism and efficiency of food safety regulation will be enhanced, but this kind of cooperation might be become the reasons of shirking the responsibility of government. Further investigation is mandatory.

台灣位處環太平洋地震帶，為全球地震風險潛勢較高的地區之一；因台灣高科技產業蓬勃發展，地震保險需求殷切，再加上開放保險費率自由化的政策及金控效應，趨使保險業間競爭白熱化，惡性價格競爭及保險經紀人的推波助瀾，保險公司的清償能力面臨重大考驗。 台灣在保險監理方面如同日本、美國採行風險基礎資本額（RBC）制度，惟國際間位處高度地震風險潛勢之國家大都另建立一套地震保險監理機制，以確保保險公司的巨災準備金足以支付回歸期地震所造成的損失，其中以美國加州及加拿大政府均採用地震保險PML申報制度作為地震保險監理之依據最值得台灣學習。 地震保險PML評估可採用CRESTA Zone平均損失幅度表計算或採用認許的地震風險評估電腦軟體推估獲得，實施的關鍵為主管機關應建立具有公信力的CRESTA Zone平均損失幅度表。本文特就二種評估方式的利弊做深入的比較分析，並藉由地震風險評估軟體的架構說明影響地震保險PML的因素與權重，作為保險公司落實地震風險管理之依據。 本研究參考Solvency II的三大支柱提出建立地震保險監理機制之結論與建議如下： 1.鼓勵建立保險公司的地震風險管理機制。 2.公佈CRESTA Zone平均損失幅度表，作為保險公司地震保險PML申報依據，以落實產物保險業之地震保險監理機制。 3.依據保險公司申報資料，提供保險主管機關實施差異化管理之依據。 4.主動揭露經營績效、強化保險市場紀律，建立公平合理的經營環境。 期待藉由建立適當的地震保險監理機制，減輕或消弭產物保險市場面臨自由化的惡性價格競爭與保險經營面的不合理現象，進而達到健全保險經營環境、促進保險業長期穩定發展，並確保社會大眾之保險權益的目標。 關鍵詞：地震保險監理機制、地震保險PML、巨災準備金、風險基礎資本額、地震風險評估軟體 / Located at the Pacific Rim earthquake zone, Taiwan has been recognized as one of the severe seismic hazard areas in the world. With the bloom of high tech industry in the past two decades, the demand of earthquake insurance has been considerably increasing. However, along with the liberalization of insurance market, the new business model of financial holdings and the expanding influence from international brokers, insurance companies’ solvency capacity has been significantly challenged. Taiwanese Government, same as Japan and U.S., adopts Risk-Based Capital (RBC) method in insurance supervision, while most countries with high earthquake potential have set up independent earthquake insurance supervision systems to ensure insurers’ earthquake reserves capable to compensate the huge earthquake losses. Among all the measures, the PML reporting system adopted by Canada and the State of California to regulate and trace insurance companies’ financial statuses could be an adequate paradigm for Taiwan. The PML estimation could be obtained either using computer models or following default mean damage ratio table. This research compares the strength and weakness between these two methods, and presents the importance of parameters and key points in earthquake insurance management. Based on the three pillars of Solvency II, the conclusions and recommendations of this paper are: (1)Encourage insurance companies to build up the earthquake risk management mechanism; (2)Establish the official default mean damage ratio table for PML reporting system; (3)Adopt differential supervision practice to different level insurance companies; (4)Promote the self-disclosure of key business information and enhance market discipline. Establishing a sound earthquake insurance supervision system would not only ease the immoderate low-price competition but the whole insurance environment could also be stabilized and improved. It will ultimately achieve the objective to insure society liability and benefit the public as well. Keywords: Earthquake Insurance, Earthquake Model, Catastrophic Risk Management, Insurance Supervision, Risk-Based Capital, CRESTA Zone, PML

負面事件比正面事件更能達到引起人們注意的效果，然而消費者的品牌依賴程度和負面事件之間的相互作用關係過去很少被研究。因此，本研究希望能透過調查年輕的品牌手機使用族群，以瞭解負面事件的嚴重性、負面事件的來源可靠性，和消費者的品牌依賴程度對消費者的負面品牌態度改變、負面產品評估改變、及風險認知改變程度的影響。 本研究發現，當一個品牌被負面事件攻擊時，消費者的品牌依賴程度及負面事件的嚴重程度會分別對其負面產品評估改變、及風險認知改變程度產生影響；而消費者的負面品牌態度改變只會被其品牌依賴程度影響。並且，負面事件發生時，消費者的品牌依賴程度並不能解決負面內容對消費者所帶來的影響，真正重要的是反而是負面事件的嚴重程度和來源可靠性。品牌管理者應該多加注意的負面事件的組合為高風險且來自較可靠的管道，因為這樣的組合會對消費者產生負面影響最大；而較不需注意的是低風險且來自較不可靠的管道的負面事件組合，因為這樣的組合對消費者產生負面影響最小。 / Negative events are known to drawn more attention than positive events, but how consumers’ brand attachment would interact with negative events is rarely discussed in the literature. As a result, this research would like to investigate how severity level and source credibility of a negative event, and consumers’ brand attachment would affect consumers’ negative brand attitude change, negative product evaluation change and perceived risk change through studying of young adults who use brand cell phone. In this research, it is found that when a brand is attacked by a negative event, consumer’s brand attachment and the severity level of a negative event would both affect consumer’s negative product evaluation and negative product evaluation changes, though only brand attachment would affect consumers’ brand attitude. Furthermore, brand attachment cannot resolve negative impacts of a negative event to the consumers; instead, the severity level and the source of a negative event would affect consumers’ negative brand attitude, negative product evaluation and perceived risk changes. Specifically, it is worth the brand managers the most attention when a negative event involves high severity level and comes from a more credible source, as this combination bring more negative changes to consumers, and the least attention when a negative event involves low severity level and comes from a less credible source, as this combination would bring least negative changes to consumers.