The vigorous development of the internet has enabled e-commerce to take the world by storm, and in comparison with other industries, the security industry adopts information technology earlier and has relatively profound application compared to other industries. Facing the rapid changes of the market environment and high competitiveness, enterprises must establish unique competitive strategies in order to survive and keep growing; it is essential for companies to create competitive advantages.From 1988, new security firms were allowed to enter the domestic stock market and accompanied by the bull market, new securities firms sprang up like mushrooms in Taiwan. After mergers, acquisitions and the rise and fall of the stock market, Taiwan¡¦s government implemented the ¡§Financial Holding Company Act¡¨ in 2001; under this Act, financial holding companies can simultaneously provide comprehensive financial services, such as securities, bank and insurance. While the development of the financial market continues to become more diversified, international and larger, the domestic financial sector faces huge changes leading to the situation where philosophy: ¡¥the bigger, the stronger¡¦ prevails. The study takes ¡§S securities firm¡¨ as an example and utilizes its actual securities business to carry out a case study. While facing the rapid changes of international finance and high competitiveness, how a securities firm adopts the resource-based view (RBV), experiences future development and increases its competitive advantages, is examined. Through the data study of related industries, investigation of literature and theories and SWOT analysis, this study aims to understand the possible development and management strategies of e-brokers to increase enterprise competitiveness and market share, and achieve the goal of sustainable management. Joining financial holding company can possess several advantages, but it is not the only possible development for securities firms. During the times of low interest rate, any new financial instruments are easy to attract the attention of investors. Moreover, while competing against so many tough contestants, if securities firms can master the crucial competitive advantages and make a good use of them, the crisis might be a turning point. The study aims at analyzing small securities firms; while dealing with the management difficulties, they strengthen their competitiveness by improving service quality, building strategic alliance, carrying out customer-level analysis, creating a trustworthy investment environment, implementing diversification management, recruiting excellent talents, etc., in the hope of enhancing a steady and vigorous development for E-broker business.

Summary With the implement of 'The Law of Financial Holding Company(FHC) ¡§, 14 FHCs which have advantages such as huge fund and extensive marketing channel were established successively at the end of the year 2001. In spite of the legality of managing across industries, the FHC still cannot make consumers understand what the Financial Holding means. According to the chaos of the recognition about the FHC brand, this research intends to examine the internal FHC in order to study how the parent company manages the subsidiary¡¦s brand. At the same time, basis on the concept of internal marketing from service industry, this research also studies the way of subsidiary¡¦s internal marketing. This research adopts the qualitative method and quantitative method. In the qualitative interview, we collect the management concepts about the parent company operating the brand identity. In the quantitative statistics, we examine the employee¡¦s identity degree about the brand and internal marketing in the subsidiary to conclude the outcome of internal marketing system. The following are the discoveries of this research: First¡BBrand Identity System of FHC 1. The FHC adopts the way ¡§top down¡¨ to plan the group's brand, and the subsidiary does not participate in actual decision . 2. Whether the subject organization of FHC exists or not determines that structure of group's brand identity. 3. The comprehensive of Brand Identity is the synergistic outcome while the FHCs merge. Second¡BBrand communication of FHC 1.Changing the name of financial industry or group itself will accelerate the process of brand outside. 2.The advertising benefit determines the outside advertising subject of brands. 3. Inside brand information is transmitted through the application system and entry website of FHC. Third¡BManage the relation between organization culture and brand. 1. The combine of brands didn¡¦t affect organization culture of every subsidiary which operate independently . 2. Organization culture will influence the benefit of group¡¦s brand in the future. Fourth¡BManage the relation between market condition and brand The parent company pays attention to the subsidiary original profession under group's brand . Fifth¡BInternal marketing system and brand identification 1.It is having dependence and influence that inside internal marketing and brand identification. 2.Individual variables are not obviously correlated with the consciousness degree of internal marketing and brand identification 3.The average of Internal marketing and brand identification of Cathay United Bank and Chiao Tung Bank is lower than another subsidiary of FHC in this study. In a word, the parent company have to establish management style to enlarge the power of brand elements; and subsidiary must strengthen internal marketing system to make higher brand identification of all employees.

During the past five years, fourteen financial holding companies have been founded by stock for stock mergers corresponding to the policies and deregulations in Taiwan. Among these M&As transactions, the exchange ratio for each combination, which is determined by the reported earnings in both acquiring and acquired firms, affects the success of the merger most. Therefore, our research focuses on whether financial institutions manage their reported earnings in order to get more favorable price for maximizing their shareholders’ wealth. From empirical results in Taiwan’s banking industry, we find (1) that the degree of earnings management is much higher in the period prior to M&As announcements given financial institutions in Taiwan are used to manipulating earnings at usual times, (2) that those financial institutions with higher degree of earnings management indeed get more favorable exchange ratios within M&As transactions relative to those with lower degree of earnings management for both acquiring and acquired companies. We also make an investigation for investors’ reactions toward behaviors of earnings management. By focusing on the sample of Taiwan’s financial holding companies, empirical results show that market investors will not punish those financial institutions obtaining better exchange ratios by manipulating reported earnings in the market since they can’t see through managers’ tricks on reported earnings.

Abstract To integrate the operating ability and to enhance the operating efficiency of financial institutions, the government of Taiwan promulgated the act of financial holding company in June 2001. Fourteen licenses of financial holding company have been issued since then and the purpose of forming financial holding companies is to increase their international competitiveness which is important to Taiwan since she has become a member of WTO. Among those 14 financial holding companies they are different in scales, in operating strategies and in operating performances. Can those small-scaled financial holding companies survive in the market with increasing competitiveness? Should they merge with other large scaled financial holding companies? The purposes of this thesis are to analyze the previous two questions. In other words, we examine the impact of the Act on the operating strategy and performance of two small-scaled financial holding companies: Jin Sun and Waterland financial holding companies. To address the second issue mentioned previously, we also analyze the operating strategies and performances of the Fubon financial holding company, which is known as having the advantage of stores and branches and of marketing financial products. Our research provides critical operating strategies for Jin Sun and Waterland financial holding companies to enhance their operating performances.

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This research aims at the related cultural heritage of the domestic and international Financial Holding Company to carry on the collection and analysises, and make use of the individual cases in the research analysis method to carry on the research, then the way of the interview through expert, induce to tidy up¡¨ financial merchandise diversification¡¨,¡¨ the control of the marketing thoroughfare and base¡¨ and¡¨ the government-businessman relation ¡§ ,these finally three the items succeeds at the present time for the most main Key Success Factors of the Taiwan Financial Holding Company. This research also develops¡¨ Competitive Advantage¡¨ and¡¨ Competition Scope¡¨ two greatest strategies factor of the Taiwan Financial Holding Company according to the industry competition mode analysis that M. E. Porter put forward, controlling two kinds of Competitive Advantage to be classified into ¡§the government-businessman relation¡¨ and ¡§the profession conducts¡¨, then add to calculate the Financial Holding Company to compete an ¡§Competitive Scope Index¡¨ totally by the amount of the multi-field degree in Financial Holding Company and marketing thoroughfare and base in¡¨ Competition Field¡¨. Because this research problem still belongs to the exploratory research stage, past adoption¡¨ time class data method¡¨ assists to carry on the research with¡¨ expert interview method¡¨. This research assists to regard the concept of the strategic group as the core to carry on the research, the research result knows the Taiwan Financial Holding Company, really can operate according to the strategy different from resource of be classified into four different strategic groups, become the competition strategy matrix compartment of the formation to¡¨ professional niche¡¨,¡¨ the government-businessman relation is concentrated¡¨,¡¨ customer direction¡¨,¡¨ the government-businessman relation is diverse¡¨ four greatest strategic groups, this research and inquire into one by one at the different strategic groups in the Key Success Factors, and each competition set the difference that the Financial Holding Company operation caused , further categorize by a set of as a result the relation of study strategic groups and its results. The research result finds the Taiwan Financial Holding Company controlling the industry development, walking obviously of is a diversification route. The Financial Holding Company of Taiwan is in the operation in the market also be much more than only in order to acquire the economic resource and customers, also must fight for the political power and benefit in the industry, because the latter usually is just the important item of the existence. Therefore, along with for resource, include the marketing of the market and control the increment of the ability with marketing thoroughfare etc., a Financial Holding Company relies on the original government- businessman relation advantage and then be good enough to continue to survive, it is the most important decision factor that profession turn. Large Financial Holding Company due to it oneself have the better finance strength and operation efficiencies, plus the advantage of the scale, a Financial Holding Company of ¡§professional niche¡¨ , although walk the difference turns the management route, the current under the yoke of property scale shortage and product lineses are scattered, can't highlight the main business core competencies, competing down in these three years, perhaps the existence space will be gradually squeezed and smaller and smaller.

Abstract In Taiwan¡¦s production structure, after joining the WTO in 2002, it has to face the global competition. Both the government and the professionals realized the urgency in facing the change of the financial structure. Deployments were made to enhance the competitiveness of banks such as passing a law of amalgamation of banks (2000), six regulations were launched out related to financial matter¡]2001¡^, permission is given to establish financial holding companies and so on. Whether the establishment of financial holding mechanism can respond efficiently to the overall challenges? Can it exercise the effect of synergy and achieve the so called 3 C effects e.g. Cross selling¡B Cost saving and Capital deployment ? It is a question worth our wide to investigate. In the 3 C effects, crossing selling relates to the short term, middle- term and long term business of financial holding. It directly affects the customers¡¦ willingness of saving and contribution. This is a key factor for financial holding to consider. This thesis mainly aims to investigate the cross selling strategy, it policy making process and effectiveness. In analyzing companies Cathay Holdings¡B Taishin Holdings and Mega Holdings have been chosen as our case studies. It is because they have good records in profit making. Also they represent 3 different types of financial holdings when the main companies and their subsidiaries have their own characteristics. Based on three selected companies,we selected the senior managers which are in charge of the decision making for cross selling,to have the broad interview.By collected the primary data,then go to do the comparison & analysis with the second data. In our studies we try to employ ¡§customers which financial holding can be mobilize¡¨ and ¡§human resource in the service¡¦ as the two variables to analyze the phenomena of the cross selling in the model of ¡§Cross Selling Cross Section analysis¡¨. Also in the context of ¡§distant customers¡¨ and ¡§distant products¡¨ , we find out six crossing selling patterns. By doing this we further investigate the cross selling and offer our suggestions. In our analysis we discover the targeted companies has differences and similarities in cross selling strategies. Their senior managements all agree that cross selling is an important strategy in financial holding, and they actively involve into that enterprise. In term of policy making in cross selling, there is lack of long term policy but emphasize on individual cases. There is absence of structural mechanism and cultural in cross selling, and the customers have not established their confidence in financial holdings. The review in risk management is lacking. The consumers¡¦ habits on cross selling haven¡¦t established yet. The financial holding companies haven¡¦t developed a strategy to integrate the know-how which subsidiary companies execute cross selling. In this research findings there are some suggestions in seven areas offered to the concerned parties for their considerations. Key words: Cross Selling, Financial holding company, FHC Marketing Strategy.

Recently, financial holding companies have been reported through various media channels for their sponsorships to art groups. For example, Taishin financial holding company contributed millions of dollars to support the performance The Phantom of the Opera in Taiwan in 2006. And Cathay Financial Holdings supported Cloud Gate Dance Theatre of Taiwan with 14 outdoor performances within the past five years. Both examples show how these companies emphasize on subsidizing art and culture activities. However, why these companies decide to sponsor, and how they choose suitable art and cultural activities? The main purposes of this study are: to discuss the current situation that the financial holding companies sponsorship for art activities and to provide art groups and sponsors suggestions with the acknowledgement of support through relationships. To achieve these goals, a thorough literature review and case interview was conducted. The researcher took examples of four financial holding companies which own Wen-hsin Awards, analyzed the motivation behind the sponsorship, the content of sponsorship package, and evaluated the outcomes of the sponsorship. Finally, the behavior model of financial holding companies to sponsor arts and culture activities is made. The results showed that the key factors to motivate sponsors¡¦ behavior are the company¡¦s social responsibility, benefit for business, and the proprietors¡¦ personal love for arts. It is also found that these four companies are interested in sponsoring the certain visual or performing art groups which hold exhibitions or large shows yearly; and mostly they do not pay much attention to evaluating their sponsorship outcomes.

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