Year 2015 / Volume 8 / Issue 2

The vacancies of residential construction increased from 480,000 units in 1980 to 1,550,000 units in 2010 in Taiwan, implying oversupply of residential house units. Although high vacancies, average unit price of residential unit increased from NT$ 96,600/ping in 1999 to NT$ 165,600/ping in 2013, indicating the malfunction of market mechanism. This research based on the Structure-Conduct-Performance (S-C-P) model examines those factors influencing residential construction industry. A sample of 280 observations in the 20 cities and counties in Taiwan during 2000-2013 was tested by Pooled Cross-Sectional Time-Series regression model. We use Two Stage Least Squares (2SLS) to analyze the impact of the transparency of vacancies and real housing price on the behavior and performance of the construction industry in Taiwan. We found that event such as Luxury Tax caused negative impact on construction industry, whereas the revelation of the housing price sold resulted in the increase of the real average housing price. The transparency of the housing market causes exaggeration of price, indicating irrational exuberance. Housing prices negatively influenced vacancies indicating irrationality of this market. Although high vacancies the approvals increased consistently, indicating there were demands of quality house unit, speculation, and investment. The residential approvals caused the increase of residential completions resulting the increase of vacancies. The vacancy and real housing price also influenced the approvals verifying the Industrial Organization model (SCP). We suggest that the demolishing and renovation of structural vacancies i.e. obsolete and unwanted house units will improve high vacancies. In addition the implementation of government policy should consider structural factors to avoid exaggerating and exacerbating effects.

Baseball was the first professional sport in Taiwan. Brother Elephants has long been the most popular team in CPBL. In 2013, due to heavy financial losses, Brother Elephants was sold to Hua Yi, a subdivision of CTBC Holding. In 2014, the new team was officially renamed as “Chinatrust Brothers”. Although the original team mascot and identity color are still in use, the change of the name and management style of the team receives harsh criticism from fans. Therefore, using Brother Elephants as an example, this study examines the relationship between fan involvement, team identification, and fan loyalty pre- and post- brand acquisition. Furthermore, this study aims to determine whether there are differences in fan involvement, team identification, and fan loyalty pre- and post- brand acquisition.

Using fans of the Brother Elephants (or Chinatrust Brother) as research subjects, this study adopts online survey to investigate fan involvement, team identification, and fan loyalty pre- and post- brand acquisition. 215 (pre-acquisition assumed) and 245 (post-acquisition assumed) effective sample questionnaires are collected respectively. The results show that (1) fan involvement is positively associated with team identification; (2) fan involvement is positively associated with fan loyalty; (3) team identification is positively associated with fan loyalty; (4) There are significant differences in involvement, fan identification, and fan loyalty pre- and post- brand acquisition, implying a declining trend in all variables over the post-acquisition period, especially for male fans.

Based on the Five-Phases Allelopathy Theory of Chinese numerology, this paper establishes a stock selecting model. In this study, we use the theory of the Five-Phases of Chinese numerology as the main concept of the modeling establishment, of which the five elements wood, fire, earth, gold, water’s allelopathy relations as the main concept. We use all stocks’ monthly data in the S&P 500 Index’s Component Stocks as sampling data from 2000 to 2013, totally as 14 years. This study uses two steps to verify the use of the Five-Phases Allelopathy Model (FPAM) in the S&P 500 Index’s Component Stocks. According to Chang, et al.,(2013) A Study of Grey VAR on Dynamic Structure between Economic Indicators and Stock Market Indices in the United States, pointed out that S & P 500 Index of leading economic indicators relationship, most international specialists believe the stock is a leading index, we add the return rate which is three and six month earlier to compare the original return rate.The results show that the company type is “wood” this group have highest accuracy of 90% in sampling period from a natal numerology. And from the view of appropriate of different natal industry group in sequencing years, eight of fourteen years match partly the Five-Phases Allelopathy Theory that the average return of the high-paid group is higher than the average return of the low-paid group.

This research is based on Five-Phases Allelopathy Theory of Chinese numerology, which we use to establish a stock selecting model. There are five elements in the theory of the Five- Phases Allelopathy of Chinese numerology, including metals, wood, fire, water and earth. All elements are related with each other, and we make use of this relations as the main concept. Our sample data are all stocks’ monthly data in Singapore stock market from 2000 to 2013, totally 14 years. This study use two aspects to verify the use of the Five- Phases Allelopathy Model(FPAM) in Singapore stock market. The results show that the group, which the element of companies are “earth”, have highest accuracy of 84.44% in sampling period from a natal numerology. And from the view of appropriate of different natal industry group in sequencing years, eight of fourteen years match the Five-Phases Allelopathy Theory that the average return of the high-paid group is higher than the average return of the low-paid group, accuracy up to 57%. Owing to most international specialists believe the stock is a leading index, we add the return rate which is three month earlier to compare the original return rate.Thehighest accuracy is the companies which element are “wood”, accuracy up to 63.83%;, During the study period, the average return of the high-paid group is higher than the average return of the low-paid group in eleven years, accuracy up to 78%.