1,720,976 research outputs found
Impact of Issuer’s Default Risk on Employee Stock Option’s Valuation
No full text本文研究考量信用風險的員工認股權之評價模型。推廣[Ingersoll, 2002] 的評價模型，以探討發行公司之倒閉風險對員工認股權價值的影響。由推導出的評價公式之數值結果發現：員工愈是風險趨避或持股比例愈大，則認為持有之認股權的價值愈小於市價。這個結果對公司將認股權的價值做為成本列帳，將產生兩種影響：(1)以認股權市價做成本，將低估每股盈餘，壓抑股價；(2)以員工認定的價值做成本，將高估每股盈餘，激勵股價。這種結果值得主管機關制定會計制度時注意，同時發行公司亦應注意其列帳方式對每股盈餘與股價的影響。This paper constructs a pricing model of employee stock option(ESO) under default risk. This model is based on the pricing model of Ingersoll (2002) to discuss the impact of default risk of issuers on the value of ESO further.
This model is similar to Black-Scholes formula with adjusted interest rate and dividend yield. From results of this model, it is found that the more risk-averse employees are and the more stock restriction employees have, the smaller value ESO has. This has two kinds of influence on accounting ESO into the cost:
(1) There is a downward-bias on the return of the stock when the market value of ESO is accounted into the cost, and the stock price is hence lower.
(2) There is an upward-bias on the return of the stock when the ESO value estimated by employees is accounted into the cost, and the stock price is hence higher.
This should be taken into account when the Competent Authorities set up accounting regulation. On the other hand, issuers should also pay attention to the impact of accounting method of ESO on the stock price.第一章、研究動機與目的 1
第一節、研究動機 1
第二節、研究目的 2
第二章、文獻探討 4
第一節、違約風險 4
第二節、員工認股權的評價 6
第三節、員工認股權可降低代理成本 8
第四節、總風險對員工認股權價值的影響 8
第五節、系統性風險對員工認股權價值的影響 9
第三章、研究方法 12
第一節、模型設定 12
第二節、最適投資組合與最適消費 14
第三節、邊際效用的跳躍擴散過程 15
第四章、研究結果 17
第一節、評價公式 17
第二節、員工認股權課稅研究 20
第三節、敏感度分析 23
第五章、結論與建議 34
第一節、結論 34
第二節、後續研究 35
附錄 38
參考文獻 4
A Study on the Thermodynamic Properties of the Micellization Process of Pluronics
No full text本研究主要分為兩部分，第一部分為探討添加不同碳鏈長度之直碳鏈醇類及不同濃度之直碳鏈醇類對Pluronic F88微胞化過程及相分離的影響，第二部分為探討降低合成時所產生的分散性(polydispersity) 對Pluronic F108微胞化過程及相分離的影響。
在第一部分中，我們利用高感度掃描式微分熱卡計觀察添加不同碳鏈長度及不同濃度之直碳鏈醇類對Pluronic F88微胞化過程及相分離的影響。添加乙醇會使臨界微胞溫度(critical micelle temperature, CMT)上升，使微胞化焓(heat of micellization)下降，使雲點(cloud point)上升；添加丁醇會使CMT下降，使微胞化焓上升，使雲點下降；添加丙醇會使CMT下降，使微胞化焓下降，使雲點在不同Pluronic濃度時略為上升或下降。隨著添加醇類的量上升，所觀察到的上述效應越為明顯。
在第二部分中，我們利用動態光散射觀察不同濃度的Pluronic F108在不同溫度下的粒徑分布情形，發現低濃度與高濃度的樣品在形成微胞前均會產生大型聚集，但存在於高濃度的樣品中之大型聚集會隨溫度上升而逐漸分解而重新排列至微胞中，而存在於低濃度樣品內之大型聚集則較難分解，因而重新排入微胞內的比例則較低。另外利用高壓液相層析法根據Pluronic F108的分子量分佈進行分離。進行分離前，當CMT小於32 oC時，微胞化焓會隨CMT上升而上升；當CMT大於32 oC時，微胞化焓會隨CMT上升而下降。純化後之產物其微胞化焓與CMT成線性關係並隨CMT上升而下降
Prediction of the Level of House Dust Mite Allergen by Residential Characteristics.
No full text台灣青少年兒童異位性皮膚炎的盛行率約為4%，而塵蟎過敏原已知是誘發過敏性疾病發作與惡化的重要因子，其中歐洲室塵蟎(Dermatophagoides pteronissinus) 被認定與影響異位性皮膚炎與氣喘發作最有相關性。而台灣的氣候條件溫濕，是塵蟎過敏原D. pteronissinus喜好的生長環境，因此應了解歐洲室塵蟎過敏原在台灣的濃度分佈情形與以居家特徵及習慣等因子推估其可能之濃度。此外，過去台灣針對塵蟎過敏原所作的研究，其過敏原收集方法皆由研究人員前往其家中採集，較耗人力、物力。本研究亦評估由研究對象的家長採集塵蟎過敏原，與研究人員所採集所得濃度是否有所差異。研究參與對象分佈在台灣六個縣市，台北、嘉義、雲林、台南、高雄、台東等，因採樣戶數不足，故分兩批次採樣，共46戶。第一批次，對象由一小型出生世代中選取願意參與者，共38戶，採樣時間為2007年7月至9月。第二批次，對象為有參與另一呼吸道研究的台北縣新莊市國中生與國小生，共8戶，採樣時間為2008年8月。藉由問卷收集居家環境、建築物特徵、居住習慣、寢具使用及清潔頻率等相關資訊，先請家長按照說明書使用吸塵器採集床墊上之灰塵，再由研究人員繼續收集客廳地板、臥室地板、同一床墊及枕頭上之灰塵，以酵素連結免疫吸附法(ELISA)分析塵蟎過敏原(Der p 1)。將每戶四個樣本視為重複測量樣本(N=184)，進行多變項迴歸、混合式線性迴歸及羅吉斯迴歸。 研究結果顯示，Der p 1濃度幾何平均值分佈為客廳地板0.13 μg/g，臥室地板0.31 μg/g，床墊1.70 μg/g，枕頭2.90 μg/g，枕頭與床墊濃度相對於兩地板濃度統計上顯著較高。家長在床墊採集之塵蟎過敏原平均濃度為1.56 μg/g，matched pair t test分析結果與研究人員採集之濃度統計上無顯著差異，且有高度相關（r=0.75）。家中水管曾經滲漏水、目前家中有養狗、家中有表面真菌、距離上次清洗床單枕套或清掃地板時間超過七天者，有較高的塵蟎過敏原Der p 1濃度。平時使用冷氣能減少塵蟎過敏原濃度超過2 μg/g的風險，而家中水管曾滲漏水者其塵蟎Der p 1濃度超過2 μg/g的機會比家中不曾滲漏水者高3.46倍。 本研究提供了台灣家戶中塵蟎過敏原Der p 1濃度的分佈情形，並評估影響濃度之居家環境因子，建議降低塵蟎過敏原Der p 1濃度的可能方法。期望將來經過降低塵蟎過敏原，以減少孩童過敏性疾之發生或發作。The prevalence of atopic eczema and asthma in adolescents has been reported to be increasing in the past decades in Taiwan. Exposure to house dust mite (Dermatophagoides pteronissinus) is known to play a potent role in the onset and aggravation of allergic diseases, such as atopic dermatitis and asthma. In Taiwan, high temperature and relative humidity provide favorable conditions for dust mite to grow. It is important to evaluate the level of Der p 1 and environmental predictors, especially the residential characteristics. In addition, previous studies on dust mite allergens in Taiwan were mostly sampled by investigators, we tested the feasibility and comparability of sample collection by adult residents in this study. We studied 46 homes in the 6 cities and counties in Taiwan, included Taipei, Chiayi, Yulin, Tainan, Kaohsung and Taitung. Among these cities, 38 were the participants of the Taiwan Birth Cohort Pilot study, and their residential characteristics were studied during July to September 2007. The other 8 participants were choosed according to a respiratory study during August 2008 in Sinchuan. The information of environmental conditions, structure of house or apartment, pet-owning, habits, and frequency of cleaning were collected by questionnaire. For the comparison of resident- and investigator-collected dust mite samples, the residents sampled the dust from the surface of mattress by vacuum cleaners according to the investigator’s written sampling direction. The investigator also sampled the dust from the floor of the living room and child’s bedroom, mattress, and pillow. The dust mite allergen (Der p 1) was measured using a two-site monoclonal antibody enzyme-linked immunosorbent assay (ELISA). Among the 46 homes, the geometric means of Der p 1 were 0.13 μg per gram of dust (μg/g) for the floor of living room, 0.31 μg/g for the floor of children room, 1.70 μg/g for the mattress, and 2.90 μg/g for the pillow. By paired t test, the Der p 1 levels sampled by adult residents was not demonstrated statistically different from those sampled by investigators, moreover, the results sampled by residents and investigators were highly correlated (r=0.75). Higher dust mite levels were associated with having water leakage, dog-owning, observed surface molds, and longer duration after the last cleaning. The usage of air conditioner was negatively associated with level of dust mite This study provides the background levels of dust mite allergen (Der p 1) in Taiwan 6 cities and the residential environmental factors were found to play an important role in mite allergen concentrations. Future study on the effects for reducing mite allergen by environmental modification will be warranted.致謝 I錄 II目錄 IV目錄 V錄 VI文摘要 1BSTRACT 3一章 前言 5一節 研究背景 5二節 研究目的 6二章 文獻探討 7一節 過敏性疾病 7一) 過敏性疾病之盛行率 7二) 過敏反應與機轉 8二節 塵 蟎 9一) 塵蟎過敏原 9二) 健康影響 10三) 相關環境因子 10四) 台灣塵蟎過敏原Der p 1分佈情形 11三章 研究方法 13一節 研究架構 13二節 研究對象 13三節 研究工具 14一) 問卷調查 14二) 室內空氣品質測量 15三) 室塵蟎過敏原測量 15四節 資料處理與統計分析 19四章 研究結果 21一節 採樣對象 21二節 居家環境狀況 21三節 臥室與客廳環境情況 21四節 塵蟎過敏原分佈情形 22一) 灰塵重量 22二) 塵蟎過敏原 22三) 過敏性疾病與塵蟎過敏原濃度 23四) 各採樣點塵蟎過敏原之單變項迴歸模式與多變項迴歸模式分析 24五) 塵蟎過敏原之混合式線性模型(Mixed modle)與羅吉斯迴歸分析 25六) 塵蟎過敏原由家長採樣與由研究人員採樣之比較 25五章 討論 27一節 過敏原濃度分佈 27二節 過敏原濃度的影響因子 29一) 採樣的地點 29二) 採樣的批次 29三) 屋齡 30四) 冷氣使用 30五) 家中水管曾經滲漏水與可觀察之表面真菌 30六) 距離上次清掃地板或清洗床單枕套的時間 30七) 室內溫度、相對溼度 31三節 替代的採樣方法可行性 31四節 研究限制 33五節 結論與建議 33六章 參考文獻 3
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
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