DSpace collection: 期刊論文

Inter-brand competition and intra-brand cannibalization in the automotive industry: Its impact and the moderating role

title: Inter-brand competition and intra-brand cannibalization in the automotive industry: Its impact and the moderating role

Green Finance for Fossil-Fuel Supply Chains Under Cap-and-Trade Regulation: Recycling, Downcycling, and Stranded-Asset Risks in Emerging Markets

title: Green Finance for Fossil-Fuel Supply Chains Under Cap-and-Trade Regulation: Recycling, Downcycling, and Stranded-Asset Risks in Emerging Markets abstract: This article develops an insurer-based contingent-claim framework to examine how green finance supports the low-carbon transition of fossil-fuel supply chains under cap-and-trade regulation, with a focus on emerging markets. The model integrates circular production strategies with stranded-asset risks to evaluate their impacts on equity valuation, equity risk, and insurer guaranteed-rate setting across an interconnected supply chain consisting of an upstream fossil-fuel producer and downstream plastic and electric power firms. Comparative statics show that stricter cap-and-trade regulation reduces equity values and increase equity risk for carbon-intensive firms, potentially destabilizing clean energy investment incentives associated with SDG 7. Recycling in plastic production raises downstream equity while amplifying equity risk, whereas slag downcycling supported by carbon capture, utilization, and storage (CCUS) generates asymmetric spillovers by improving upstream equity performance and lowering its risk through demand and financing channels. Overall, the results highlight how circular production and carbon regulation interact with insurer-mediated green finance to shape investment incentives, risk allocation, and the pace of the transition toward affordable and cleaner energy systems.

Mentoring for effective human-AI collaboration: an integrated theoretical framework.

title: Mentoring for effective human-AI collaboration: an integrated theoretical framework. abstract: his study proposes a theoretical framework for fostering effective human-AI collaboration in the AI era by integrating the foundational principles of Affordance Actualization Theory (AAT), Event System Theory (EST), transformational theory, and transactional theory. These theories complement each other by linking the affordance of human-AI collaboration to both positive and negative reactions to AI's influence, ultimately leading to outcomes at individual, team, and organizational levels. Within this framework, the roles of transformational, transactional, and strategic mentorship as interventions in the framework are justified. By bringing personnel development perspectives into the domain of human-AI collaboration, this study concludes by discussing key implications and outlining a future research agenda for personnel training and education.

債券利差與期限利差對於匯率動態影響之研究

title: 債券利差與期限利差對於匯率動態影響之研究 abstract: 本文考量債券利差和期限利差對於匯率動態之影響，針對東北亞和東南亞區域作比較，考量不同經濟結構時期，分析債券動態對於匯率動態之影響。實證結果顯示：首先，於債券利差對匯率影響部分，主要體現在不同結構時期變化，除東北亞國家於金融危機時期呈正向估計外，債券利差對於匯率於其他結構時期普遍呈現負向顯著估計。其次，關於期限利差對匯率影響部分，主要表現在不同區域經濟體質的差異上，東北亞國家普遍受到風險溢價影響得到負向結果，而東南亞國家則多受到通貨膨脹影響得到正向估計。再者，關於債券動態對於匯率價差影響部份，顯示債券利差對於匯率價差在金融危機前期、金融危機時期及美國升息時期多呈現顯著解釋能力；而期限利差對於匯率價差影響，則主要體現在金融危機前期與金融危機時期。本文結果證實債券動態對於匯率動態之預測能力，且不同區域國家於不同結構時期存在差別性影響，印證本文考量不同區域與不同結構時期探討的必要性。

Modeling social capital, training transfer, and occupational commitment: moderation of learning value of the job

title: Modeling social capital, training transfer, and occupational commitment: moderation of learning value of the job abstract: Training significantly provides a valuable avenue for career development, influencing employees’ occupational commitment. This study delves into the influence of social capital on occupational commitment indirectly through training transfer, considering the moderating role of the learning value of the job (LVJ). Empirical findings derived from a field survey of high-tech professionals indicate that social interaction, trust, and shared vision indirectly affect occupational commitment through the mediation of training transfer. Additionally, the relationship between shared vision and training transfer is moderated by LVJ. The paper discusses on-the-job training and education implications for research and practices based on these empirical insights.

專家異質性評估：基於臺灣公共治理主觀指標調查的檢證

title: 專家異質性評估：基於臺灣公共治理主觀指標調查的檢證 abstract: 有鑑於許多公共議題具有高度專業性，一般民眾難以熟悉和提供具體的意見或評價，因此，許多國際組織採用的公共治理調查，多依賴菁英或專家來獲取各種評分或建議，我國行政院國家發展委員會自2008年起，委外執行的臺灣公共治理主觀指標調查亦是如此。由文獻檢閱可知，目前仍少有實證研究就專家異質性對調查結果的影響進行評估，使我們對專家調查的測量品質了解相對有限。因之，本研究以2012年和2013年臺灣公共治理指標專家調查結果為例，利用Q-Q圖、蒙地卡羅模擬，以及多種統計檢定等量化分析方法，從方法論的角度探討：1.無反應與趨中選答的專家答題模式；2.隨機專家假設的抽樣模擬和假設檢定；3.不同專業領域的專家異質性比較。研究結果顯示，適度減少專家的回答量（如七大面向中允許避答三個以內）並不影響推論結果，尤其學界代表的回覆普遍呈現較高同質性。此外，不同參與次數的專家在「無反應」與「中間值」的填答模式上亦展現一致性。本研究不僅有助於理解專家異質性對公共治理評估成效的影響，亦提出專家調查設計的改進建議，包括：針對首次參與者舉辦調查說明會，以協助理解調查目的與釐清較長問卷內容；在受訪者配置上，平衡政府內、外部專家比例，以降低偏誤；適度減少學界專家樣本並增納企業與公民社會的多元觀點，以提升推論結果的包容性；專家填答方式則可透過隨機減少部分必答面向，或依據其專長分配作答，仍可維持整體評估品質之穩定性。

川普2.0對歐洲地區發展可能帶來之影響

title: 川普2.0對歐洲地區發展可能帶來之影響

波蘭立陶宛聯邦時期的貴族共和體制

title: 波蘭立陶宛聯邦時期的貴族共和體制 abstract: 波蘭立陶宛聯邦是 16 至 18 世紀歐洲的一個獨特的政治實體，融合了君主制、貴族制與部分民主元素，並以貴族選舉國王的貴族共和制為特徵。聯邦的黃金時代發生在 16 至 17 世紀初，期間政治、經濟和文化皆繁榮鼎盛。然而，貴族共和體制最終卻導致聯邦在 18 世紀末被俄、普、奧三國瓜分。波立聯邦內部有著極其複雜的民族、宗教、社會、經濟等等問題，因而難以成功整合成為高度認同的國家，導致了擁有龐大政治權力的貴族，大都只圖自身權益的保障及擴權，不願意承擔相應的國家社會責任，使得選王制成了外國勢力入侵的管道，自由否決權更是癱瘓國家治理與改革的手段，加上連年對外征戰，國力不斷耗損。波蘭遂成了鄰國強權的俎上肉。

Integrating augmented reality into event tourism education: Enhancing experiential value and authenticity

title: Integrating augmented reality into event tourism education: Enhancing experiential value and authenticity abstract: Cultural expositions have evolved from static displays to dynamic experiential platforms that integrate immersive technologies, fostering innovation in event organizing and management. In the field of event organizing education, these expositions provide an ideal setting for exploring immersive teaching methods and experiential learning strategies. This study examines the role of AR as a pedagogical tool in event organizing training, focusing on its impact on learners' experiential value, perceived authenticity, satisfaction and skill development. To address gaps in existing research, this study conducted an 18-week quasi-experimental investigation involving 120 undergraduate and postgraduate learners enrolled in event organizing programs in Taiwan. The learners, representing diverse cultural backgrounds, were divided into two groups: an experimental group, which engaged in AR-based event simulations, and a control group, which received traditional lecture-based instruction. Results demonstrated that AR-enhanced training significantly improved learners’ engagement, practical competencies, and ability to design immersive audience experiences. These findings highlight the potential of AR to transform event organizing education by bridging theory with practice, fostering deeper learner engagement, and preparing future event professionals with the skills necessary for real-world applications. This study offers practical implications for event educators, organizers, and industry stakeholders, advocating for the integration of AR-driven experiential learning into event organizing curricula to align with evolving industry demands.

The Approach to Enhance Brand Citizenship Behavior and Customer-Based Brand Equity: Multilevel Mediating Effects in International Tourist Hotels

title: The Approach to Enhance Brand Citizenship Behavior and Customer-Based Brand Equity: Multilevel Mediating Effects in International Tourist Hotels abstract: This research, building on social identity and social exchange theories, investigates the multilevel relationships among branding culture, person-brand fit, brand citizenship behavior, customer loyalty, and customer-based brand equity. The hierarchical linear modeling was utilized to analyze data from 172 supervisors, 318 employees, and 327 customers of 22 international tourist hotels in Taiwan. We found branding culture positively affects person-brand fit and brand citizenship behavior. Aggregated brand citizenship positively affects customer loyalty, which contributes to customer-based brand equity. A critical finding based on the holistic model showed that multilevel mediating effects of person-brand fit and customer loyalty exist.

Smart shopping meets sharing: Three-way interactions in omnichannel retailing.

title: Smart shopping meets sharing: Three-way interactions in omnichannel retailing. abstract: Smart shopping behavior has become increasingly prominent in omnichannel retail environments, where consumers strategically navigate across digital and physical channels to optimize value. Although prior research has examined the antecedents of smart shopping, its behavioral consequences—particularly regarding deal-content sharing—remain underexplored. This study conceptualizes deal-content sharing as a form of online consumer engagement and investigates how smart shopping influences such behavior under different psychological and behavioral conditions. Drawing on data from 433 Taiwanese caregivers with recent experience of purchasing children's formula milk, we tested a model with two sets of three-way interactions. The findings reveal that, from the consumer perspective, smart shoppers with high self-confidence and strong deal-seeking propensity were significantly more likely to share deal content. From the retailer perspective, those with cross-channel buying habits and high price sensitivity also showed elevated sharing behavior. The study demonstrates that smart shopping translates into socially expressive engagement when aligned with specific consumer traits. It contributes, theoretically, to omnichannel retail and consumer engagement literature by identifying boundary conditions that intensify sharing behavior and, practically, by offering guidance for designing targeted engagement strategies that amplify word-of-mouth through personalized smart shopping experiences.

How and when college students’ perception of teachers’ entrepreneurial leadership affects entrepreneurial intention: a moderated serial mediation model

title: How and when college students’ perception of teachers’ entrepreneurial leadership affects entrepreneurial intention: a moderated serial mediation model abstract: This study aims to reveal how and when college students’ perception of teachers’ entrepreneurial leadership affects entrepreneurial intention, and to provide new ideas for improving college students’ entrepreneurial intention. Utilizing a stratified cluster sampling approach in this study, a questionnaire survey was conducted on 769 college students enrolled in two institutions in Hainan Province, China. The research findings indicate a significant and positive influence of college students’ perception of teachers’ entrepreneurial leadership on entrepreneurial intention. Moreover, this perception affects entrepreneurial intention through both a single mediating effect and a serial mediating effect involving creative self-efficacy and creativity. The moderated serial mediation model shows that when college students perceive a higher school innovation climate, the serial mediation effect of creative self-efficacy and creativity on the correlation between their perception of teachers’ entrepreneurial leadership and entrepreneurial intention is stronger. The results of this study have important reference value for further improving college students’ entrepreneurial intention both theoretically and practically.

Insurer green financing for a supply chain under cap-and-trade regulation: a capped call contingent claim analysis

title: Insurer green financing for a supply chain under cap-and-trade regulation: a capped call contingent claim analysis abstract: This paper introduces a contingent claim analysis to examine sustainable insurance practices. It investigates how life insurers participate in sustainable lending by financing borrowing firms committed to environmentally friendly practices for cleaner production. We establish a capped call option model, where the capped function explicitly considers credit risks associated with borrowing firms in a supply chain engaged in the cap-and-trade mechanism regulated by environmental policies. Our findings reveal that tightening the cap within the cap-and-trade system and reducing green loans can enhance insurer’s interest margins. Conversely, an escalation in the green input ratio across the supply chain may reduce these margins for the insurer. However, reducing low-margin insurance offerings could jeopardize the stability of insurance. The insurer faces financial challenges while supporting borrowing firms in their efforts toward carbon reduction and sustainable production. Notably, the substantial impact of climate change fueled by carbon emissions significantly influences the underwriting of life insurance policies related to human health. Policymakers need to navigate these intricacies to establish a careful balance between environmental objectives and the financial stability of sustainable insurance.

Pollutant-specific scale economies in a supply chain under cap-and-trade regulation within the context of sustainable insurance

title: Pollutant-specific scale economies in a supply chain under cap-and-trade regulation within the context of sustainable insurance abstract: This paper introduces a capped call option within a sustainable insurance model, where the insurer acts as a fund provider and supply chain manufacturers serve as fund borrowers. The risks associated with these borrowing manufacturers are capped through green lending, providing a structured way to manage financial exposure. Both upstream and downstream manufacturers use multiproduct production technology, which inherently produces pollutants. The study investigates how cap-and-trade limits influence pollution in carbon-intensive supply chains under varying cost structures. It reveals that stricter pollution caps enhance the insurer's profit margin when manufacturers adopt subadditive multiproduct technology—where joint production reduces costs—but diminish the margin when superadditive technology is employed, resulting in higher joint production costs. Moreover, tighter cap-and-trade restrictions may inadvertently lead to increased overall pollution, as the incentive to produce more under these multiproduct cost structures can outweigh the intended environmental benefits. These findings emphasize the importance of designing green finance and technology promotion policies that account for the specific cost dynamics within supply chains, ensuring that environmental, public health, and clean energy objectives are effectively balanced.

我國「公民社會」的學術研究圖像：期刊文章的內容分析初探

title: 我國「公民社會」的學術研究圖像：期刊文章的內容分析初探 abstract: 「公民社會」（civil society），是一個看似簡單卻又難以界定的抽象概念，基本上，社會學、政治學、公共行政學、經濟學、乃至於哲學等學門，雖然對於此一概念各有不同的定義與詮釋，卻常被用以描述和解釋國家、社會、組織及個人之間錯綜複雜的關係。我國歷經1970年代的經濟發展起飛及1980年代後期推動的民主改革，激發了公民的活力，進一步促進公民社會的發展；而1990年代資訊科技發展與21世紀網際網路的普及化，不僅改變了人類的生活型態，公民社會內涵的探究也從「實體社會」延伸到「虛擬社會」。在此一發展脈絡下，我國學術界長期以來是如何對公民社會進行研究或討論？在不同的政治與社會發展時期，我國公民社會的圖像有何特徵？在學術社群中所呈現的樣貌為何？這些問題迄今似乎仍尚未受到關注與析探，這也是本研究的初始動機。基此，本研究除了透過文獻分析梳理公民社會的概念內涵與理論觀點外，並針對臺灣在1987年至2020年間與「公民社會」相關的期刊文章內容進行文字探勘分析，初步呈現我國公民社會研究的多樣性和豐富性，期能對解釋我國公民社會發展的理論建構有所裨益。

Does Quality Hurt Brand Preference for Promoted Products in a Gift Promotion Setting?

title: Does Quality Hurt Brand Preference for Promoted Products in a Gift Promotion Setting? abstract: Most previous studies have shown that free gifts positively increase promoted product sales. However, will any characteristic of the gift hurt the promoted product, and how does it happen? This study has two purposes. First, the study sheds light on the brand preference of the promoted product being hurt in a gift promotion setting and examines the causes-gift quality and perceived brand fit. Second, a mental mechanism of the negative effect of a gift quality on the promoted brand preference was explored by applying perspectives of Expectancy-Disconfirmation Theory (EDT) and the Halo effect. Two experimental studies were developed. Study 1 confirmed that the lower gift quality, but not brand unfit, hurt the brand preference of the promoted product. Study 2 further examined its mental process and found two mediators between gift quality and promoted brand preference (i.e., expectancy disconfirmation of gift quality and preference toward the gift promotion mix). It supports the EDT and the Halo effect being applied to explain the mental mechanism.

Population aging and wealth inequality

title: Population aging and wealth inequality abstract: Much effort has been devoted to exploring the consequence of population aging on economic growth. Little attention is paid to its impact on income and wealth inequality. This is critical because inequality matters for the distribution of economic resources and social welfare and is interlinked to economic growth. To fill the void, this paper evaluates whether population aging affects inequality, with special emphasis on wealth inequality and nonlinearity. In a cross-country panel data setting, it finds that top wealth shares follow a U path, i.e., decrease and then increase, in the process of population aging. By contrast, the bottom wealth shares have an inverted-U pattern, i.e., rise and then fall, when a population ages. Similar results are reached for the income share. The data thus suggest that there exists some threshold level of population aging such that any deviations from that level will widen the gap between the wealthy and the poor and increase disparities in wealth and income inequality.

Insurer green financing for a supply chain under cap-and-trade regulation: a capped call contingent claim analysis

title: Insurer green financing for a supply chain under cap-and-trade regulation: a capped call contingent claim analysis abstract: This paper introduces a contingent claim analysis to examine sustainable insurance practices. It investigates how life insurers participate in sustainable lending by financing borrowing firms committed to environmentally friendly practices for cleaner production. We establish a capped call option model, where the capped function explicitly considers credit risks associated with borrowing firms in a supply chain engaged in the cap-and-trade mechanism regulated by environmental policies. Our findings reveal that tightening the cap within the cap-and-trade system and reducing green loans can enhance insurer’s interest margins. Conversely, an escalation in the green input ratio across the supply chain may reduce these margins for the insurer. However, reducing low-margin insurance offerings could jeopardize the stability of insurance. The insurer faces financial challenges while supporting borrowing f irms in their efforts toward carbon reduction and sustainable production. Notably, the substantial impact of climate change fueled by carbon emissions significantly influences the underwriting of life insurance policies related to human health. Policymakers need to navigate these intricacies to establish a careful balance between environmental objectives and the f inancial stability of sustainable insurance.

Aligning common prosperity with sustainable development goals 3 and 7 through sustainable insurance

title: Aligning common prosperity with sustainable development goals 3 and 7 through sustainable insurance abstract: This paper develops a capped-call option model to evaluate sustainable insurance for achieving common prosperity. It integrates policyholder protection (Sustainable Development Goal 3 (SDG 3)) and the cap-and-trade mechanism (SDG 7) in modeling the Gini coefficient, thereby connecting SDGs 3 and 7 with common prosperity. The main findings are as follows. Life insurance policies that prioritize saving features enhance policyholder protection (SDG 3) but can detract from common prosperity. This impact is magnified when the regulatory cap within the cap-and-trade scheme for carbon-intensive manufacturers becomes stricter. High investment risks for carbon-intensive manufacturers reduce policyholder protection but support common prosperity. A stricter cap-and-trade scheme (SDG 7) also reduces policyholder protection and contradicts common prosperity. This paper avoids concluding any inherent inconsistency between the SDGs and common prosperity, as our analysis is based on the structure-conduct-performance paradigm rather than a macro perspective. Policymakers should carefully balance objectives between SDG 3 and common prosperity to ensure that policies promoting individual security do not compromise broader societal well-being and economic equality, as outlined by the SDGs.

Assessing insurer guarantee cover and risk retention toward SDG 3: a structure-break downand-out call valuation.

title: Assessing insurer guarantee cover and risk retention toward SDG 3: a structure-break downand-out call valuation. abstract: The paper develops a down-and-out call option to evaluate the equity of a life insurer. The COVID-19 pandemic challenges captured by the premature feature of the down-and-out call option are also identified as structural breaks incorporated into the contingent claim option. Hedging, shown by the guarantee cover ratio, reflects the insurer’s ability to meet policy commitments. Reinsurance, indicated by the risk retention ratio, distributes insurance risk between the insurer and reinsurer. The insurer engages in those practices aligned with Sustainable Development Goal 3 (SDG 3: good health and well-being). The main findings are as follows. The COVID-19 pandemic harms policyholder protection and deviates from SDG 3 due to financial instability. However, strategic hedging, reinsurance, and government capital injections enhance policy assurances, achieving SDG 3 by increasing payments to policyholders and improving financial stability. Moreover, the risk retention ratio increases during severe COVID-19 periods but decreases with more government capital injections, which can substitute for risk retention. Policy implications suggest that policymakers can mitigate crisis impacts on insurer capacity to fulfill commitments, thereby enhancing life insurance stability and well-being aligned with SDG 3.

Vertical acquisition and carbon capture and storage choices under cap-and-trade regulation with sustainable finance

title: Vertical acquisition and carbon capture and storage choices under cap-and-trade regulation with sustainable finance abstract: In this paper, we establish a contingent claim framework for environmental management. The paper focuses on the vertical acquisition of a supply chain in the context of sustainable insurance (i.e., sustainable finance), specifically considering carbon capture and storage (CCS) technology choices and cap-and-trade regulations. The main results are as follows. Firstly, a more stringent cap-and-trade scheme increases equity efficiency in sustainable insurance, particularly when the green upstream manufacturer with advanced CCS technology acquires the brown downstream manufacturer, which also uses advanced CCS technology. Secondly, it harms risk efficiency, especially when the green upstream manufacturer with backward CCS technology acquires the brown downstream manufacturer, which uses advanced CCS technology. Thirdly, it increases the default risk in the insurer's equity, especially when the green upstream manufacturer with backward CCS technology acquires the brown downstream manufacturer, which also uses backward CCS technology. Overall, cap-and-trade's effects on equity and risk efficiency in vertical acquisition and default risk in insurer's equity within sustainable insurance depend on adopting CCS technology. Policymakers should incentivize advanced CCS technologies in vertical acquisitions to enhance equity and reduce default risks, supporting long-term financial stability and environmental sustainability toward Sustainable Development Goals.

Assessing the impact of climate policies on equity risk under sustainable insurance: Cap-and-trade regulation, energy-saving technology subsidies, and carbon tariffs

title: Assessing the impact of climate policies on equity risk under sustainable insurance: Cap-and-trade regulation, energy-saving technology subsidies, and carbon tariffs abstract: The paper presents a capped-call option framework for climate policies, highlighting cap-and-trade regulation, energy-saving technology subsidies, and carbon tariffs. It involves a life insurer providing green finance to a carbon-intensive manufacturer, examining their procurement of carbon allowances and export activities under cap-and-trade and carbon tariff systems, respectively. The main results reveal that manufacturer exports increase manufacturer equity risk, while stricter cap policies partially mitigate this effect, especially with higher carbon tariffs. Conversely, elevated carbon tariffs directly amplify manufacturer equity risk, but this is alleviated somewhat by a stricter cap-and-trade system. Energy-saving technology subsidies reduce manufacturer equity risk. Higher exports are associated with reduced insurer equity, while a stricter cap-and-trade regime enhances insurer equity, particularly with higher carbon tariffs. Carbon tariffs positively impact insurer equity, whereas subsidies for energy-saving technology for manufacturers have a negative effect. In the paper, the integration of both mechanisms within a capped-call option framework can advance sustainability efforts and help mitigate f inancial risks for the carbon manufacturer and the fund-providing insurer. This alignment corresponds with the objectives of environmental responsibility and economic stability in the face of climate change challenges.

Promoting energy conservation in manufacturing through sustainable insurance

title: Promoting energy conservation in manufacturing through sustainable insurance abstract: Motivated by the imperative of advancing environmental sustainability through green financing, this study delves into the transformative impact of technological advancements. Employing a novel, capped call-option model, this study assesses the interplay between financial technology for sustainable insurance and production technology for energy saving. This capped option encompasses lending-borrowing elements, including the financial and production technologies and carbon-allowance transactions within the cap-and-trade mechanism dedicated to environmental improvement. The investigation underscores the far-reaching effects of stringent regulatory caps, revealing substantial implications for manufacturing entities' equity value and risk. Such regulations may take a toll on borrowing manufacturers, deterring their engagement in energy-saving initiatives for cleaner production. Furthermore, this study sheds light on the dynamics of energy-saving practices, emphasizing that both technology-intensive production and financial technologies contribute to manufacturers' heightened equity risk. Interestingly, sustainable insurance initiatives, while well-intentioned, might inadvertently hinder progress in energy saving. Despite both fund providers' and borrowing manufacturers’ engagement in technology-intensive solutions for environmental improvement, the findings suggest that prioritizing progress in technology-intensive production technology for energy saving holds greater promise for advancing cleaner production. This potential replacement is especially significant for low-carbon emitters compared to their high-carbon counterparts, highlighting the nuanced dynamics at play in fostering a sustainable and energy-efficient future.

Energy transition: Cap-and-trade and carbon capture and storage for achieving net-zero emissions with sustainable insurance

title: Energy transition: Cap-and-trade and carbon capture and storage for achieving net-zero emissions with sustainable insurance abstract: This paper introduces an energy transition model featuring a carbon-intensive manufacturer that adopts sustainable insurance, participates in a cap-and-trade scheme, and implements carbon capture and storage (CCS) transit, all aimed at achieving the net-zero carbon emission target. The model utilizes a down-and-out call (DOC) approach to evaluate the manufacturer's equity, considering the bankruptcy risk prior to maturity due to carbon intensity. The equity of the life insurer providing funds is assessed using a capped DOC method to address the capped credit risk from the manufacturer. The findings reveal that increased adoption of CCS transit diminishes manufacturer equity, heightens default risk, and reduces insurer equity, with these effects exacerbated by advanced CCS technology and stringent cap-and-trade caps. Both stringent cap-and-trade schemes and rapid advancements in CCS transit practices, particularly with the use of advanced CCS technology, deviate from the net-zero target. A critical policy implication is the necessity for the precise calibration of cap-and-trade schemes and the pace of CCS transit adoption to ensure alignment with net-zero targets.

Impact of carbon capture and storage, cap-and-trade, and multiproduct cost structure on pollution in an oligopoly

title: Impact of carbon capture and storage, cap-and-trade, and multiproduct cost structure on pollution in an oligopoly abstract: This paper presents an oligopolistic model to examine the effects of cap-and-trade regulations, carbon capture and storage (CCS), and multiproduct cost structures on reducing pollution emissions. It investigates an oligopoly consisting of both carbon-intensive and environmentally friendly manufacturers that produce goods and pollutants concurrently. The findings suggest that in a quasi-competitive or Cournot-type conjectural variation (CV), a tighter cap leads to increased pollution from the carbon-intensive manufacturer but decreased pollution in a collusive CV. Moreover, this stricter cap notably diminishes the equity of the carbon-intensive manufacturer in a collusive scenario and that of the green manufacturer in a quasi-competitive environment. When the green manufacturer adopts advanced CCS technology or operates with a subadditive cost structure, pollution from the carbon-intensive manufacturer decreases in quasi-competitive and collusive scenarios but increases under Cournot-type CV. Meanwhile, the green manufacturer experiences the greatest equity boost with advanced CCS technology in collusive settings, while its equity decreases most significantly with a subadditive cost structure in quasi-competitive CV. Our contribution indicates that the efficacy of climate policies in oligopolies depends on both multiproduct cost structures and CVs employed.

A statistical method for protocol modifications with heterogeneous population variances

title: A statistical method for protocol modifications with heterogeneous population variances abstract: During the course of a clinical trial, the procedure may need to be modified based on medical or practical results. For example, in trials with low recruitment rates, the data monitoring committee often changes the inclusion/exclusion criteria, the number of sites, the endpoint, or the protocol itself. When such changes occur, protocol amendments are needed. However, the actual patient population after protocol amendments may be slightly different from the target population. In this study, we focus on the scenario in which the populations have heterogeneous variances across the modifications of trial procedures due to protocol amendments. A statistical method based on the Satterthwaite approximation with corresponding sample size adjustments is developed to evaluate the treatment effect. Our simulation demonstrates that the proposed method controls the type I error rate and provides sufficient power.

TikTok for developing learning motivation and oral proficiency in MICE learners

title: TikTok for developing learning motivation and oral proficiency in MICE learners abstract: This study aimed to investigate the efficacy of TikTok as a video aid on MICE (Meetings, Incentive Travel, Conferences and Exhibitions) learners' learning motivation and oral proficiency. The study sample include 60 MICE learners. Participants were equally divided into control and experimental groups, with 30 MICE learners in each group. The experimental group was taught with TikTok, while the control group was instructed by traditional teaching methods. Pre-test and post-test were performed for both groups. The survey results showed that MICE learners who underwent the TikTok experiment had significantly improved learning motivation and oral proficiency compared to their counterparts who used only the traditional teaching method. This study proposed to embed TikTok as a video aid in the classroom for MICE education to improve learning motivation and oral proficiency among MICE learners.

Balancing equity and policyholder protection: Assessing insurer’s interests in green lending under cap-and-trade regulations

title: Balancing equity and policyholder protection: Assessing insurer’s interests in green lending under cap-and-trade regulations abstract: This paper presents a contingent claim model designed to assess an insurer’s equity within the framework of carbon trading regulations imposed on borrowing firms while also considering the integration of green lending. The development of this model is particularly relevant for regions with established carbon trading markets, with a specific focus on the post-period following the 2015 Paris Agreement concerning climate change. We focus on shareholders and policyholders to optimize equity and ensure maximum protection. Strict caps in capand- trade harm interest margins, reducing guaranteed rates for equity maximization and compromising policyholder protection. Government intervention through sustainable production carbon trading hinders win-win outcomes. Green subsidies can improve insurer margins, but achieving win-win solutions remains challenging. A collective approach is needed to share sustainable production and finance benefits among diverse economic sectors.

Assessing insurer green finance in response to manufacturing carbon emissions trading in a dragon-king environment: A capped barrier cap option approach

title: Assessing insurer green finance in response to manufacturing carbon emissions trading in a dragon-king environment: A capped barrier cap option approach abstract: It is essential to examine how carbon trading affects the financial performance of life insurers who offer funding in a challenging dragon-king environment. The primary focus of this study is to evaluate the effects of manufacturing-borrower carbon emissions trading on the insurer’s interest margin and insurance stability. To this end, a capped barrier cap option model is developed to capture the manufacturing borrower credit risk from green operations, the quality of the dragon-king environment, and the insurer’s equity valuation through liquidity management with life insurance policy loans. The findings of this study indicate that stricter regulatory caps increase insurer interest margins but hurt insurance stability. Additionally, green improvements help increase interest margins but create greater insurance instability. The increase in carbon allowances purchased by the carbon-intensive borrower for production permission increases the insurer’s interest margins but reduces insurance instability. These energy policies create insurer profitability and financial instability, causing regulators to reconsider their energy policies from the perspective of fund providers. Our study contributes to the green literature by considering that manufacturing borrower cap-and-trade participation affects insurer performance in a dragon-king environment. The results of this study can inform policymakers and insurers in developing effective carbon trading strategies to balance profitability and stability in challenging environments.

Insurer hedging amidst the interplay of black and green swans toward SDGs 3 and 7

title: Insurer hedging amidst the interplay of black and green swans toward SDGs 3 and 7 abstract: Amid regional conflicts and global warming, the interplay of catastrophic events (black swans) and sustainability issues (green swans) emerges, impacting sustainable insurance and environmental initiatives tied to Sustainable Development Goals (SDGs) 3 (Good Health and Well-being) and 7 (Affordable and Clean Energy). This paper develops a structure-break down-and-out option model to investigate insurer hedging strategies toward SDGs 3 and 7 in the context of sustainable insurance amidst the intertwined dance of black and green swans. There are several main results shown as follows. Enhancing hedging strategies bolsters an insurer's interest margin and mitigates default risk. As the impact of events like regional conflicts and global warming intensifies, the adverse effects of hedging on default risk become clearer, enhancing insurance stability. Both black and green swan events positively affect the insurer's interest margin and default risk. Strict capital regulations are vital for sustainable insurance, safeguarding policyholders and fostering stability during extreme events. In essence, employing robust hedging strategies and adhering to rigorous capital regulations within the framework of sustainable insurance, considering both black and green swan events, proves to be instrumental in advancing toward the achievement of SDGs 3 and 7.

International climate policy dilemmas: Examining effective carbon tariff and cap-and-trade regulation from a sustainable insurance perspective

title: International climate policy dilemmas: Examining effective carbon tariff and cap-and-trade regulation from a sustainable insurance perspective abstract: This paper introduces a contingent claim model, offering a financial perspective on the global climate policy challenge. The model prioritizes the use of carbon tariffs to prevent carbon leakage and cap-and-trade initiatives to incentivize carbon emission reductions. In this model, manufacturers in an exporting country's supply chain collaborate with a life insurance company to acquire carbon allowances through the cap-and-trade mechanism. The importing country enforces carbon tariffs to protect its import-substitution industries and to prevent carbon leakage, assessed by the effective carbon tariff rate. Our findings show that increasing carbon tariffs on final products and intermediate goods reduces equity for both the life insurance company and the importer but strengthens carbon tariff protection. Conversely, a stricter regulatory cap within the exporting country's cap-and-trade system bolsters equity for the life insurance company and the importer but weakens carbon tariff effectiveness in the importing country. This dilemma underscores the urgent need for global collaboration in managing carbon emissions. Our research highlights the complex challenges of global climate policies. It is suggested to foster efficient and sustainable international cooperation in shaping climate policies to address these challenges.

Social enterprise, renewable energy, and cap-and-trade under sustainable insurance

title: Social enterprise, renewable energy, and cap-and-trade under sustainable insurance abstract: Social entrepreneurship encompasses entrepreneurial activities designed to tackle societal and environmental challenges. This paper introduces a capped call option model for sustainable insurance within the context of financing social enterprise green operations, emphasizing the adoption of renewable energy and the implementation of cap-and-trade mechanisms. Our focus is on an objective defined as a combined stakeholder equity function, reflecting sustainable insurance resulting from the social enterprise's green operations and stakeholder engagement to fulfill the goals of social entrepreneurship. The research reveals that increasing subsidies for the social enterprise embracing renewable energy enhances stakeholder equity and social enterprise equity while negatively impacting insurer equity. Additionally, as the social enterprise integrates advanced green technologies into production, the positive effect on stakeholder equity becomes more pronounced. Stringent regulatory caps, however, adversely affect both stakeholder equity and social enterprise equity. Moreover, the study highlights green loan subsidies as a mutually beneficial strategy, fostering positive outcomes for both the borrowing social enterprise and the fund-providing insurer. It emphasizes the need for policies prioritizing green subsidies to promote the adoption of renewable energy for enhanced equity under sustainable insurance.

Understanding vocational passion and learning goal orientation: workplace training and learning implications

title: Understanding vocational passion and learning goal orientation: workplace training and learning implications abstract: Vocational passion and learning goal orientation are both critical for individuals to perform well in vocational fields in the long run. Drawing upon self-regulation theory and social learning theory, this study explores how these two predictors influence job performance by simultaneously examining job self-efficacy as a mediator and job experience as a moderator. Empirical analyses are performed using the data of workers in a large computer and communication company in Taiwan. This study discovers that job experience has double-edged effects in the development of job self-efficacy. On the one hand, individuals with more job experiences possess greater wisdom that may inspire a sense of meaningful connection towards their vocation (i.e. being more susceptible to vocational passion). On the other hand, their continuous learning motivation to achieve job performance goals is more likely to decline with more job experiences they overly rely upon (i.e. being less susceptible to learning goal orientation).

Exposure to Netflix enhances listening effort and learning motivation among MICE learners

title: Exposure to Netflix enhances listening effort and learning motivation among MICE learners abstract: The purpose of this study was to examine the impact of utilizing trade show related videos on Netflix on the learning motivation and multilingual listening ability of MICE learners. Employing a quasi-experimental design, a total of 60 MICE learners were randomly assigned to either the experimental group or the control group, each of which consisted of 30. The experimental group utilized Netflix streaming videos to complete their training, while the control group relied on traditional methods and textbooks for the same course. Both quantitative and qualitative research findings indicated that MICE learners who incorporated Netflix into their learning process exhibited significant improvement in learning motivation and foreign accent perception. Moreover, the teaching content and experience offered by Netflix could be effectively employed in exhibition training preparation, thus augmenting learning motivation and foreign accent perception.

Life insurance policyholder protection, government green subsidy, and cap-and-trade transactions in a black swan environment

title: Life insurance policyholder protection, government green subsidy, and cap-and-trade transactions in a black swan environment abstract: Previous research has examined the cap-and-trade mechanism with carbon emission reduction for productive firms. This paper encompasses the earlier studies by integrating borrowing firms (productive firms) conducting cap-and-trade transactions with life insurer lending decisions in a black swan environment. Our research provides the first cap call option model to describe the insurer-borrowing firm situation. In particular, we find that a black swan event stimulates life insurance businesses. The cap-and-trade scheme increases the guaranteed rate of the life insurance policy and policyholder protection. Enhancing the subsidy for the green borrowing firm deteriorates the policyholder protection in a black swan environment.

Soft information in insurer lending and reinsurance under capital regulation

title: Soft information in insurer lending and reinsurance under capital regulation abstract: The paper develops a capped call option framework, explicitly integrating the borrowing-firm credit risk. Moreover, modelling the structural breaks in assets and volatility captures soft information about the insurer’s borrowing firm. We show that favourable soft information increases the optimal guaranteed rate and thus enhances policyholder protection. The negative effect of the reinsurance on the optimal guaranteed rate is more significant when obtaining negative soft information than when getting favourable soft information. The positive impact of stringent capital regulation on the optimal guaranteed rate in the negative soft information is less significant than that in the favourable soft information. Stringent capital regulation increases policyholder protection and the market-to-book equity value when the strict capital regulation is high, thereby contributing to insurance stability.

線上遊戲虛擬道具之購買意願--以英雄聯盟為例之實證研究

title: 線上遊戲虛擬道具之購買意願--以英雄聯盟為例之實證研究

金融科技發展對中國大陸商業銀行風險管理影響之研究

title: 金融科技發展對中國大陸商業銀行風險管理影響之研究 abstract: 商業銀行尋如何利用金融科技實現風險管理是一項重要的課題。本文以 2011- 2021 年間，將中國大陸 198 家包含四大國有、股份制銀行、城市商業銀行、農村商業銀行、外資法人銀行的矩陣型數據為樣本，藉由樣本銀行巨大資產規模及多樣化的經營類型，並透過實證檢驗金融科技對大陸銀行業風險管理水準的影響，本研究發現提升金融科技的應用有助於提升銀行業的風險管理水準，並有助於銀行更有效的管控風險。本文建議，商業銀行應充分認識到金融科技在銀行風險管理中的重要作用，堅定數位化發展，保持金融科技研發投入，並從信用風險識別與監控預警等加強智能化風險管理體系建設。台灣也應建立數位普惠金融的數據資料庫，以利台灣銀行業的金融科技發展與風險管理。

Carbon leakage perspective: Unveiling policy dilemmas in emission trading and carbon tariffs under insurer green finance

title: Carbon leakage perspective: Unveiling policy dilemmas in emission trading and carbon tariffs under insurer green finance abstract: This study delves into the intricacies of the policy dilemma surrounding carbon emission trading and carbon tariffs, with a specific focus on the perspective of carbon leakage. Using a capped call option model, we assess the equity of a life insurer, emphasizing the importance of carbon leakage resulting from borrowing by carbon-intensive manufacturers. The findings reveal a nuanced scenario: while an increase in green loans positively impacts the guaranteed rate of the insurer, it simultaneously poses a challenge to the equity of carbon-leakage vulnerable manufacturers. Stringent regulatory caps on emissions act as a limiting factor on guaranteed rates for carbon-intensive borrowers. Additionally, higher Carbon Border Adjustment Mechanism tariff rates contribute to a decrease in the guaranteed rate, affecting both the fund-providing insurer and the borrowing manufacturer. This analysis underscores the intricate balance required in policymaking and decision-making, where an understanding of these complex relationships becomes pivotal. Striking the right balance between environmental sustainability and financial stability is essential to navigating the policy dilemma inherent in carbon emission trading and carbon tariffs.

The correlation between broadband prices and the digital divide: A survey of Taiwan’s north coast

title: The correlation between broadband prices and the digital divide: A survey of Taiwan’s north coast abstract: This study highlights the importance of differentiating between urban and rural areas when exploring broadband issues that matter to consumers and statistically sampling accordingly. To test the effectiveness of rural broadband programmes in improving internet usage, this study is based on a selection of five geographically adjacent administrative districts with varying population densities. During a survey using the double-bounded dichotomous choice model to measure people’s WTP, two research hypotheses were tested and verified through regression analysis. The results showed that consumers living in rural areas are significantly less willing to pay for broadband than those living in urban areas, which contradicts the findings of the study by Worden and Hambly (2022) conducted in Canada. Additionally, the significant t value test results found in this study showed that consumers are willing to pay more for download bandwidth than for upload bandwidth for every dollar spent. This result indicates that consumers have a clear preference for one over the other and highlights significant differences in their choices. In particular, the results of the willingness-to-pay survey revealed that the incumbent operator yield opposite results in the regression coefficients for their willingness to pay for each unit of download bandwidth and upload bandwidth. This result may be due to differences in the design of internet products offered by the two operators. Given the inevitable reality that income generated by service operators in rural areas is lower than that in urban areas, there is a need to study price differentials between urban and rural areas in order to promote greater use of broadband internet in rural areas in the context of the adoption of a single price throughout the region.