DSpace community: 高階主管企管（EMBA）碩士班

台灣租賃業者現行策略與面對政府監管的因應探討

title: 台灣租賃業者現行策略與面對政府監管的因應探討 abstract: 台灣租賃業自1970年代起步，長期扮演銀行體系外的補充融資角色，憑藉較快的審核效率與較彈性的授信結構，支援中小企業設備更新與營運週轉。近年無卡分期(BNPL) 與原車融資等高費用消費金融商品快速擴張，引發提前清償、招攬與催收等爭議，使主管機關將融資租賃公司納入《金融消費者保護法》規範，並以利率及費用揭露、行銷與委外招攬管理、KYC與商品適合性、提前清償權等機制，提升資訊透明與契約公平。本研究採混合研究法，從股東結構、市場爭議與監管改革三者的互動切入。研究流程包括：整理產業發展與監理制度沿革；彙整立委質詢、監理文件與媒體報導以建立重大事件時間軸；以事件研究法分析2023年至2025年監管相關事件的短期股價反應；並訪談七家代表性業者，補充不同體系在合規與策略調整上的實務脈絡。研究結果顯示，股東結構會影響租賃業者的商業模式與風險偏好。獨立系業者以自建風險模型與多元產品線在企業金融累積規模優勢；汽車集團系業者仰賴通路場景與既有客群，承受高費用商品收縮帶來的短期調整壓力，並加速轉向中小企業與綠能融資；銀行系業者受母行內控與治理架構約束，合規體質相對完整，但業務拓展較為保守。面對納入監理後的新局，資訊透明度與契約公平性可望提升，但業者也將面臨合規成本上升、邊際客群流失，以及產品與流程需重新設計等挑戰。政策面建議在落實消費者保護的同時，依B2B與B2C商品特性區分資訊揭露與行為規範，並強化對第三方通路的管理；業者則需在合規新常態下，提升資料治理、數位風控與定價能力，透過產品結構調整，在風險控管與穩健成長間取得平衡。;Since the 1970s, Taiwan′s leasing industry has served as a vital complement to the traditional banking system. With its high efficiency and flexible credit structures, it has effectively bridged the funding gap for small and medium-sized enterprises (SMEs) regarding equipment renewal and working capital. However, the recent aggressive expansion of high-interest consumer finance products—specifically Buy Now, Pay Later (BNPL) and auto-secured financing—has triggered controversies surrounding early repayment penalties, improper solicitation, and aggressive debt collection. These issues not only damaged the industry′s reputation but also compelled regulators to enforce the Financial Consumer Protection Act. This regulatory intervention aims to restore order between market development and consumer protection by strengthening interest rate disclosure, marketing standards, Know Your Customer (KYC) mechanisms, and rights regarding early repayment. This study employs a mixed-methods approach to analyze the nexus between shareholder structure, market controversies, and regulatory reform. First, the research delineates the industry′s development trajectory and the evolution of the regulatory framework. Second, it conducts an event study focused on the three leading listed companies (Chailease, Yulon Finance, and Hotai Finance)—colloquially known as the "Three French Fries"—to quantify the short-term impact of major regulatory events on their stock prices between 2023 and 2025. Finally, the study performs a multi-level comparative case analysis through in-depth interviews with seven representative firms. The findings indicate that shareholder background profoundly shapes the business models and risk appetites of leasing companies. Independent firms, leveraging flexible risk models and diverse product lines, have established scale advantages in corporate finance and are actively expanding overseas. Auto-group affiliates, possessing strong channel and data moats, face painful structural adjustments following restrictions on high-margin consumer finance, accelerating their pivot toward SME and green energy financing. Bank-affiliated firms, constrained by strict internal controls, exhibit the most robust governance structures but remain relatively conservative in business expansion. Facing this new regulatory regime, while information transparency and contractual fairness have improved, operators confront challenges including surging compliance costs, the loss of marginal customer segments, and the need to restructure product workflows. This study suggests that regulators should adopt "risk-based" and "differentiated supervision," precisely focusing on high-risk products and third-party channel management. Concurrently, operators must strengthen digital risk control and pricing precision under this new normal of compliance, seeking a renewed balance between risk management and steady growth through product structure optimization.

就業服務法與長期照顧體系利害關係人─以L人力仲介公司為例，論第46條修正案之影響

title: 就業服務法與長期照顧體系利害關係人─以L人力仲介公司為例，論第46條修正案之影響 abstract: 2024年12月31日，立法院三讀通過就業服務法第46條修正案，旨在調整外籍家庭看護工申請資格條件。該修正案放寬了80歲以上長者及70-79歲罹患癌症二期以上患者的聘僱資格限制，免除巴氏量表(Barthel Index)評估程序。修正案已於2025年1月20日經總統令正式頒布，惟實際施行仍待勞動部制定相關子法規範。本研究以L人力仲介公司為研究案例，針對就業服務法第46條修正案進行初步探討，採用實地調查方法，蒐集相關利害關係人對法案頒布及實施前階段的觀點與期待。本研究對象涵蓋家庭照顧者、被照顧者、外籍家庭看護工、長期照護人員、人力仲介業者、長期照護機構、醫療機構專業人員等七大群體。研究結果顯示，此項修正案實施將對多重面向產生重要影響。就直接效益而言，符合新申請條件的被照顧者將更便利地取得外籍家庭看護服務，有效減輕家庭照顧者負擔。然而，政策執行過程的複雜性及跨部會協調機制的必要性，突顯現行行政體系在處理跨領域整合政策時所面臨的結構性挑戰。本研究依據研究結果，提出管理意涵與未來研究之建議。;Article 46 of the Employment Service Act was amended and passed by Taiwan’s Legislative Yuan on December 31, 2024. The passing of Article 46 is a landmark decision, which deregulates certain restrictions and amend the eligibility criteria for employing foreign household caregivers. Taiwanese senior citizens aged 80 and older as well as patients aged 70 and older, diagnosed with malignant cancers identified as stage 2 and plus, would be exempted from undergoing the assessment of Barthel Index. This study aims to explore the potential effects induced by the amendment of Article 46 of the Employment Service Act. A preliminary investigation was conducted with the case of Manpower Agency L. During the pre-implementation phase, data were collected through in-depth interviews with relevant stakeholders, including family caregivers, care recipients, foreign caregivers, long-term care personnel, staff of manpower agency and long-term care institutions, and healthcare professionals. The findings indicate that the implementation of this amendment would lead to significant impacts on various aspects. In terms of direct benefits, care recipients who meet the new application criteria would have an easy access to foreign caregiver services and mitigate the burden on family caregivers. However, the complexity related to policy implementation and inter-ministerial coordination highlight a great deal of structural challenges involved. Drawn on the findings, managerial implication and suggestions for policy implementation are thus discussed.

都市與工商業複合型天然氣管道輸送風險與對策

title: 都市與工商業複合型天然氣管道輸送風險與對策 abstract: 隨著都市化與工業化的快速發展，天然氣作為清潔能源的需求持續增加，成為都市及工商業區域的重要能源供應。然而，由於人口密度高、管線網絡複雜，天然氣輸送過程中潛藏著諸多風險。本研究針對都市與工商業複合區域的天然氣管線風險進行系統性分析，並提出風險評估模型與因應對策。本研究透過文獻回顧、數據分析與案例研究，建立天然氣管線風險評估模型，並分析NG1與NG2混合輸送的法規與運作差異。研究發現，都市高密度區與工商業混合區域的管線事故主要與老化、施工干擾及品質控制問題相關。此外，透過案例分析，本研究提出了強化管線檢測、導入智慧監控技術、制定應急預案及完善法規標準等具體對策，以提升管網安全管理能力。本研究結果可作為政府與企業在天然氣管線管理決策上的參考，並為未來風險防範與監控技術的發展提供基礎。;With the rapid development of urbanization and industrialization, the demand for natural gas as a clean energy source continues to increase, making it a crucial energy supply for urban and industrial-commercial areas. However, due to high population density and complex pipeline networks, the transportation of natural gas involves multiple risks. This study systematically analyzes the risks associated with natural gas pipelines in urban and industrial-commercial mixed-use areas and proposes a risk assessment model and corresponding countermeasures. By conducting a literature review, data analysis, and case studies, this research establishes a risk assessment model for natural gas pipelines and examines the regulatory and operational differences in NG1 and NG2 mixed transportation. The findings reveal that pipeline accidents in high-density urban areas and industrial-commercial zones are primarily caused by aging infrastructure, construction interference, and quality control issues. Additionally, through case analysis, this study suggests specific countermeasures, including enhanced pipeline inspections, the implementation of smart monitoring technologies, the formulation of emergency response plans, and the improvement of regulatory standards to enhance pipeline safety management. The results of this research can serve as a reference for government and industry decision-making in pipeline management and provide a foundation for future advancements in risk prevention and monitoring technologies.

元悖論領導對任務性績效影響：以適應性績效為中介變項探討

title: 元悖論領導對任務性績效影響：以適應性績效為中介變項探討 abstract: 在當前組織擴張與變革頻繁的環境下，領導者面臨高度複雜與矛盾並存的管理挑戰。為回應此一趨勢，近年興起的「元悖論領導」（Meta-paradoxical Leadership）主張領導者應具備同時整合僕人式與權威式領導風格的能力，以兼顧員工關懷與目標導向。本研究旨在探討元悖論領導對於員工任務性績效之影響，並進一步檢驗員工的適應性績效是否在其中扮演中介角色。本研究採取兩階段問卷設計，針對202組主管與部屬進行配對調查，涵蓋科技、製造、金融與服務等產業，透過多項式迴歸與反應曲面分析（Response Surface Analysis）進行假設驗證。研究結果發現，當主管同時展現高僕人式與高權威式領導特質時，確實能正向影響部屬之任務性績效，支持元悖論領導的效能。然而，適應性績效在此關係中所扮演之中介效果並不顯著，顯示其心理轉化歷程尚需進一步探究。本研究理論上擴展了元悖論領導的情境應用與行為構面，並實證其與員工績效之關係，補足既有理論中介機制不足之貢獻；實務上則提供企業在推動組織變革與人力資源發展時，關於領導訓練與績效管理之策略參考。最後，本研究亦針對樣本產業限制與未來可行研究方向提出具體建議。;In the context of increasing organizational complexity and rapid change, leaders are often required to manage competing demands and contradictory expectations. Meta-paradoxical leadership, characterized by the simultaneous enactment of servant and authoritative leadership behaviors, has emerged as a promising approach to address such tensions. This study investigates the effect of meta-paradoxical leadership on employees’ task performance and examines the mediating role of adaptive performance. A two-wave, multi-source survey was conducted with 202 matched supervisor-subordinate pairs across various industries in Taiwan. Using polynomial regression and response surface analysis, the findings indicate that when leaders demonstrate high levels of both servant and authoritative leadership, employees exhibit significantly higher task performance. However, the hypothesized mediating effect of adaptive performance was not statistically supported, suggesting that the internal psychological processes underlying this relationship require further exploration. Theoretically, this study contributes to the leadership literature by extending the empirical validation of meta-paradoxical leadership and highlighting its contextual effectiveness. Practically, it provides guidance for organizations seeking to enhance employee performance under dynamic conditions by cultivating leaders capable of integrating care and control. Limitations and future research directions are also discussed.