半年刊 2007年6月創刊第九卷 第二期 2015年12月出版JOURNAL OF MACAU UNIVERSITYOF SCIENCE AND TECHNOLOGYSemiannual, Started in June 2007Vol.9 No.2 December 2015定價: 20元澳門幣(人民幣/港幣)ISSN 1994-4926半年刊Semiannual Vol.9二 一五年 第九卷 第二期JOURNAL OF MACAU UNIVERSITY OF SCIENCE AND TECHNOLOGYVol.9 No.2 December 2015
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ContentsHumanities and ArtsA Study on Trademark Translation of Cosmetics ………………………………………… Jimin CHEN (1)The Existing Problems in the Communication Process of Mainland Students and Macao Students: Based on the Exploratory Research on the Grounded Theory …… Fei WANG, WenLi CHENG (10)An Investigation of the Relationship Between Language Learners' use of Cognitive Strategies and Their Language Proficiency in a Multiple Media Learning Environment …………………………………………………………………………… Yan ZHANG, Wei WEI (17)Narrative Metaphor in Hong Kong Cantonese Movie About Imagination and Construction of Macao ………………………………………………………………………………………… Sileong U (26)The Cultural Identity Crisis and Exploration of Future Developments in Macao Female Literal Works …………………………………………………………………………………………Yuan TIAN (32)Pedagogic ExperienceGeneral Education is the Nature of Practical Rationality in College Chinese Teaching …………………………………………………………………………… Kai LI, Baofeng XIAO (37)LawEvolution and Countermeasure of Macau Organized Crime Under The Risk Society ……………………………………………………………………………………… Libin WEN (48)Management and TourismEvaluation and Suggestions to Banking Service System: A Case Study of a Commercial Bank in Macau ……………………………………………………………Xin LI, Huimei BU, Yi LI, Jinming HE (56)The Empirical Analysis of the Relationship Between Chinese Real Estate Prices and Air Pollution Index: Based on Environmental Kuznets Curve ……… Wanjun LI, Yu SONG, Songhong CHEN (68)Impacts of R&D Investment on Financial Performance of China Equipment Manufacturing Industry: Using 2SLS Method ………………………………………………… Jinghua ZHANG,Yuyang YI (82)Interest Rate and Bank Risk-taking: Evidence from Chinese Listed Banks ………………………………………………………… Shun-Ho CHU ,Wenjie YANG, Yi CHEN (95)State Ownership, Size, and Bank Profitability: Evidence from Chinese Commercial Banks, 1998-2011 ……………Shiyong ZHAO, Shurui HE (105)Exploring the Antecedent and Outcomes of Employee Insider Status …………………………… Li HE1, Wen PAN, Lingping ZHAO, Yueyuan CHENG, Junhua LI (121)A Study on the Interrelationships Among Event Perception, Destination Image and Destination Loyalty in Macao ………………………………………………………………………… Ye XU (133)MedicineDetermination of Total Flavonoids Using Copper Ion Complex UV Spectrophotometer and Preliminary Study on the Anti-oxidation Activity of Pluchea indica (Linn.) Less. …………… Jiansheng LIANG, Shiqiang XU, Chunsong CHENG, Chichou LAO, Chihan LOU, Zhifeng ZHANG (142)
1第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 Received 8 Sep. 2015; Revised 18 Sep. 2015* Corresponding author: Jimin CHEN Annie, Lecturer of Department of Greneral Education, Macau University of Science and Technology; MA in Translation Studies, University of Macau. E-mail: jmichen@must.edu.mo; Tel: 00853-66947914A Study on Trademark Translation of CosmeticsJimin CHEN( Department of General Education, Macau University of Science and Technology, Macau, China )AAstractt: With the improvement of people’s living standard and their pursuit of high-quality life, cosmetics have become popular products in today’s consumer market. A good translation of a product’s name has an undoubtedly direct impact on the selling of the product. This paper discusses different examples from the cosmetic market and attempts to investigate the reasons for successful and unsuccessful trademark translations from the perspective of skopos theory and Venuti’s foreignization and domestication. It also analyses the general characteristics of naming Chinese and foreign cosmetics and tries to find out their influence upon their translations, and finally figures out possible reasons behind the popularity of different cosmetics in the market.eywordst: Skopos; Foreignization; Domestication; Cosmetics; Trademark translation論化妝品名翻譯的品牌策略陳季敏（澳門科技大學通識教育部，澳門）摘要： 隨著人們生活水準的提高及對生活品質的追求，國內化妝品市場高速發展，化妝品名的翻譯亦是品牌策略的重要組成部分。本文運用Hans Vermeer的翻譯目的論及Lawrence Venuti的歸化和異化翻譯理論，針對國內外各類化妝品名翻譯的實例，進行分類和個案的分析研究，闡述原品牌的創意理念、消費群定位、文化背景等，探討化妝品名翻譯的成功方法及翻譯對於品牌策略的重要影響。關鍵詞： 目的論；異化翻譯；歸化翻譯；化妝品；商標名翻譯0 IntroductionThere is no denying that consumption drives the economy in every society. Women consumers are by nature in the majority of consumer market. Dress, personal adornment as well as cosmetics are three of the main products on which a woman loves to spend most of her money. Nowadays Cosmetic products have been one of the indispensable necessities for women of different ages due to their pursuit of beauty and high-quality life.Wi th the open ing -up o f Ch ina and the development of global economic integration, lots of foreign products have been exporting to China. By the end of 2009, foreign investment and joint venture enterprises on cosmetics have the proportion of nearly 80% in Chinese market (Zheng, 2010) [1],
2and “only 20% cosmetics is made in China” (Liu, 2011) [2]. The figures not only indicate the high popularity of foreign cosmetic products in China, but somehow raise concerns about the causes of such phenomenon, such as the marketing strategy, the advertising hype, etc. In fact, the translation of the name of cosmetics is considered one of the keys to successful sales of foreign products. A good name of a product will immediately catch people’s attention initially and gradually induce them to get to know about the product and finally buy it. This is the publicity and brand effect which are influenced by social, cultural and psychological factors. This paper takes a look at different trademark translations of both Chinese and foreign cosmetics and makes analysis of successful and unsuccessful translations by applying Vermeer’s skopos theory and Venuti’s domestication and foreignization. Furthermore, the use of different translation techniques and methods of cosmetic trademarks also in some ways affects people’s choice of cosmetics products. Hopefully, this study can provide useful data and insight for trademark translation of cosmetics, and thus find out different aesthetic standards between Chinese and foreign consumers.1 Literature ReviewThe theory of skopos was developed by a German translation theorist Hans Vermeer and is considered one of the core theories of functionalism in translation theories. Unlike the equivalence theory which is ST-oriented and focuses on the meaning of the original text, the skopos considers that translation is a communicative action and “the end justifies the means” (Reiss and Vermeer, 1984, p.79) [3]. That is, the purpose of the translational action determines the entire process of translation and the translation strategies are all determined by the translation skopos. Therefore, in order to achieve the same skopos of both ST and TT, translators have freedom of choosing any methods or even rewriting the original text to meet the needs of different people. In other words, “adequacy” becomes the criterion of judging the quality of translation rather than “equivalence” between ST and TT (Nord, 1997, p.35) [4]. In this sense, the purpose or the intention of cosmetic trademarks is the same for consumers all over the world, which is to attract buyers and to sell the products. Adopting the skopos theory to analyze the trademark translation of cosmetics can clearly show the intention of the translation and find out different aesthetic standards and consumption views between different cultures.Furthermore, L.Venuti proposed his definitions of domestication and foeignization in his work Translator’s Invisibility published in 1995. Both terms developed from a paper by a German translator called Schleiermacher. He (1995) claimed that the translator either leaves the author in peace and brings the readers to the author (foreignization) or leaves the reader in peace and takes the author to the readers (domestication) [5]. Put simply, foreignization is SL-oriented and does not take the custom and conventions of target language into account. It tries to retain the culture and language conventions of the ST. However, domestication is TL-oriented and focuses on the culture of the TL readers and tries to convert SL culture into TL culture and make the TL readers feel that they are reading in their own language. Whether to apply domestication or foreignization in translation depends on the text type as well as the skopos of translation. Trademark is one of the forms of advertisement. Its purpose is to catch the consumers’ attention, arouse their interest in the product and stimulate consumption of the product. In general, if the concept of the trademark means the same for both SL and TL readers, the original image of the trademark should be maintained, that is, foreignization would be a good translation technique to be adopted in its translation. However, if the concept of the trademark has different meanings in different cultures, it would be better for the translator to respect the TL culture and adopt domestication in translating the trademark.According to the previous studies on this topic, many scholars focused on the translation methods and techniques of cosmetic trademarks, and most of the examples, including Chinese and foreign brands,
3Jimin CHEN A Study on Trademark Translation of Cosmeticswere mixed and analyzed together. One of the Chinese scholars Li Hui (2009) discussed the trademark translation of cosmetics based on the framework of deconstructionism [6]. One of the other latest fine studies on the translation of foreign cosmetic instruction was analyzed from the perspective of reception aesthetics [2]. Some other scholars focused either on the skopos theory or Venuti’s domestication and foreignization. This paper, however, categorizes trademarks according to different cultural background systematically and compares their translations with analysis of good and bad examples. It combines Vermeer and Venuti’s theories to discuss these examples and investigates why some cosmetic brands are successfully or unsuccessfully translated.2 Methodology2.1 Materials (Chinese-English)Most Chinese cosmetic trademarks and their translations are selected from Chinese supermarkets. Although not all Chinese cosmetic brands are covered in this section, the selected ones are representative of the general features of Chinese cosmetic brands and their translations. By comparing different translation techniques applied to the major Chinese cosmetic trademarks in the market, it is not difficult to find out some general characteristics of the naming and the translation of Chinese cosmetic brands. All collected examples are categorized by the use of different translation techniques listed below. ● Transliteration (Pinyin) » 大寶 DABAO » 郁美淨 YUMEIJING » 鄭明明 ZMM (abbr.) ● Transliteration (Non-Pinyin) » 羽西 Yue Sai » 好迪 HOUDY » 雅倩 ARCHE » 可采 Cortry ● Literal translation » 小護士 MININURSE » 蜂花 BEE-FLOWER ● Domesticating translation (creation of neo-words) » 相宜本草 SINOWAY HERB » 佰草集 HERBORIST » 東洋之花 TAYOI ● Transliteration + Free translation » 索芙特 SOFTTO » 佳雪 CATHY » 柏蘭 BALANCE » 立志美麗素 LEADSBEAUTY » 美加淨 MAXAM » 隆力奇 LongrichFig.1 percentage of different translation techniques applied in Chinese cosmetic trademarksBasically, trademark translation of cosmetics uses seven techniques, namely transliteration by Chinese Pinyin, transliteration by pronunciation, literal translation, domestication including the creation of new words, rewriting (original meaning and pronunciation untranslated), transliteration + free translation, and zero translation. However, rewriting and zero translation have rarely been used in translating Chinese cosmetic brands as it is hard for foreign consumers to get the meaning and even pronounce Chinese characters. Therefore, the translator at least used pinyin transliteration to translate Chinese cosmetic trademarks. The selected examples here actually show lots of interesting translation approaches and valuable information on cosmetics marketing.2.1.1 Case Analysis ● 美加淨 MAXAMThe English translation of this famous domestic brand is a very successful case. Although the name MAXAM is not exactly a transliteration + free translation of the original name since it is not an Eng-lish word and apparently does not make any sense
4to the English audience, it is by all means a good translation in terms of the use of sound, image as well as form, which are the three principles of poetry translation according to Mr. Xu Yuanchong (2006) [7]. MAXAM in sound is very similar to “maximum” that makes the consumers imagine what this maximum really means. Could it be the effect of using this product? Or would it make my face look maximumly perfect? Such imagination is also the image that this name provides consumers. As for its form, the position of double “A” and “M” makes the name neat, concise and easy to be memorized. All these three characteristics make the English translation even more successful and attractive than the original Chinese trademark in terms of the implications and flexibility in language. Although the translation does not precisely reflect the Chinese meaning which is “beautiful and clean”, the skopos of the ST and the TT can be considered the same, which is to reach the maximum effect of beauty and cleanness by using the product. In this way, both Chinese and English names are brilliant and reveal different aesthetic characteris-tics between different cultures. ● 隆力奇LongrichAs one of the most famous domestic trademarks, 隆力奇 was originally translated as Longliqi by adopt-ing pinyin transliteration. One of the advantages of using transliteration is to keep the form of the ST and to promote the SL culture. Nevertheless, the major disadvantage of this method is that it takes time for the foreign consumers to memorize and accept an ex-otic name without any background knowledge of the Chinese culture and the product. Therefore, it changed its translation into “longrich’ later to be easier to be accepted by foreign people. This translation adopts both transliteration and free translation to take both source language and tar-get language cultures into consideration. Compared to the former translation, the latter approach is better in terms of the reservation of both language features.2.1.2 ResultsIn general, the ideal way of translating Chinese cosmetic trademarks is to use transliteration + free translation as most cases do because it can both reserve and promote the SL cultural characteristics and meanwhile respect the TL culture. According to scholar Hu (2012), the combination of transliteration and free translation is considered the best translation technique for it takes both pronunciation and meaning of the original text into account [8]. In other words, by using such method, the translator pays attention to both the SL and the TL culture. The translation maximizes the quality of Chinese trademarks to make the names attractive and reasonable to foreign consumers. In fact, most Chinese cosmetic names focus on the nature or function of the product and are preferred to use feminine characters to please Chinese consumers’ tastes, for instance, “美”, “淨”, “佳”, “雪”, “蘭”, etc. All of the characters are complimentary words used specially on Chinese women. Therefore, the use of these characters in cosmetic names is to emphasize the effect and result of using these products. Since the first impression of a product is extremely important for consumers, the translator must know both the SL culture and the TL culture well in order to produce meaningful names for different consumers.In addition, the use of skopos theory and foreignization and domestication are also important in a good trademark translation. It seems that in a successful Chinese cosmetic trademark translation, domes t i c a t i on i s much more adop t ed t han foreignization as most Chinese cosmetic trademarks are not very well-known to foreign consumers, a domesticating and meaningful translation of a Chinese trademark would be much easier to be accepted and memorized than using transliteration or literal translation. Nevertheless, such situation is completely different than the strategies of translating foreign cosmetic trademarks.2.2 Materials (English-Chinese)Most foreign trademarks and their translations are collected from cosmetic counters of Chinese department stores such as New Yaohan and some are from Chinese supermarkets as well. They are randomly but carefully selected for analysis and
5Jimin CHEN A Study on Trademark Translation of Cosmeticsare categorized also by the application of different translation techniques listed below. ● Transliteration » Estee Lauder 雅詩蘭黛 » Vichy 薇姿 » Chanel 香奈兒 » Dior 迪奧 » Arden 雅頓 » LANCOME 蘭蔻 » Avon 雅芳 » Maybelline 美寶蓮 » NIVEA 妮維雅 » KOSE 高姿 » L’OREAL 歐萊雅 » PANTENE 潘婷 » Anna Sui安娜蘇 ● Literal translation » POISON 毒藥 / 百愛神 » OPIUM 鴉片 » Iceberg 冰山 » Red Earth 紅地球 » Fair Lady 貴夫人 » Le Mer 海藍之謎 » DR. LI 李醫生 ● Zero translation » ZA » SKII » UP2U » DHC » H2O » HR » AQUA » FANCL » VOV ● Rewriting » Clinique 倩碧 » Make Up Forever 浮生若夢 » Olay 玉蘭油 » Clarins 嬌韻詩 » Shiseido 資生堂 » REJOICE 飄柔 » ASCEND 潤妍 ● Transliteration + Free translation » Biotherm 碧歐泉 » Lux 力士 » Johnson & Johnson 強生 » Pure & Mild 泊美 » Revlon 露華濃 » Dove 多芬 » Free Plus 芙麗芳絲 » HAZELINE 夏士蓮 » SAFEGUARD 舒膚佳Fig.2 percentage of different translation techniques applied in English cosmetic trademarksMainly, trademark translation of foreign cosmetic uses five techniques, namely transliteration, literal translation, zero translation, rewriting, and transliteration + free translation. Similar to the selection of Chinese cosmetic trademarks, major foreign brands are covered for case analysis as the main characteristics of naming and translation methods have been involved and some examples are actually typical and interesting to be analyzed.2.2.1 Case Analysis ● REJOICE 飄柔The translation of one of the popular shampoos in China 飄柔 is a typical successful example of trademark translation of cosmetics. The translation is a total rewriting of the original name. Rejoice in English means happiness and joyfulness, which emphasizes the consumer’s feelings and mood after using this product, while the Chinese translation 飄柔 highlights the effect on people’s hair after using this shampoo. Each character in Chinese shows what the ideal hair should be like and thus pleases Chinese aesthetic taste. Although Rejoice apparently has nothing to do with 飄 or 柔, both two names carry the same connotation which is by using such product, one’s hair will
6become floating and soft so that it will make users feel happy. In this way, the Chinese translation reflects the real intention of the original trademark and meanwhile makes great sense to Chinese consumers and attracts them to buy it.In this case, the skopos of the ST and the TT are the same. Even though the two texts are totally different and the TT cannot even be considered a faithful translation, it is still a very successful case according to the skopos theory. Although the term “rewriting” is used for categorizing such translation method, it definitely does not conflict with domestication since Venuti’s concept of domestication is rather a culture-oriented viewpoint than simply a translation strategy. Therefore, translating Rejoice as 飄柔 is a good domestication example based on the reasons presented above. ● Estee Lauder 雅詩蘭黛The transliteration used in translating foreign trademarks is not exactly the same as translating Chinese brands. Estee Lauder is the name of a person who created such brand and product. Translating a foreign name by transliteration can be flexible due to different translators’ preference for lexical choice. The reason for selecting 雅詩蘭黛 these four Chinese characters is probably based on the aesthetic standard of Chinese female consumers. As discussed in the last section, Chinese consumers, when buying cosmetic products, even without knowing its actual quality, prefer to choose something with a beautiful and elegant name which might has the same function as the implication of its name. All these four characters carry beautiful and graceful images of women. In such sense, it can also be considered a kind of domestication and takes the TL culture into account. This translation technique is one of the successful marketing strategies for promoting a foreign brand in the Chinese market. ● HAZELINE 夏士蓮HAZELINE itself is a medicine. Naming a cosmetic product by using its original material is another characteristic of foreign brands. Similar to Estee Lauder, when translating these English names into Chinese, the translator always considers the aesthetic psychology of Chinese people by selecting feminine characters with harmonious tones and lyric connotations, such as 婷, 莲, 雅, 倩, etc. In addition to the choice of Chinese characters, if the translation can also be pronounced similarly to the original name, then it can be considered a successful brand in terms of naming. ● Biotherm 碧歐泉The French cosmetic brand Biotherm is brilliant in both the original name as well as its translation. The connotations in both names are rich. “Bio” means the life of skin and “-therm” refers to a mineral spring located in the south of France and it has a great effect on people’s skin. In its Chinese translation, 碧 offers a sense of the sky and water, 歐 and 泉 implies where it comes from and its nature. The translation keeps both its sound and its connotations. ● FANCLThis is a very typical example of foreignization as it is a zero translation. However, such translation technique nowadays is very popular in China. Zero translation examples have one particular feature, that is, the original names are either concise or abbreviations of some cosmetic terminology. The name FANCL is short and easy to be remembered. Because of the good nature of the product, the brand quickly spreads among Chinese consumers and gains lots of Chinese consumers of the product. In this way, the zero translation technique of FANCL makes a good example of promoting foreign brands and cultures. ● POISON 毒藥 vs. OPIUM 鴉片Both of the perfume brands are translated literally. However, the former is considered a good example and the latter is a bad one. At the beginning, when POISON was exported to China, it was translated as “百愛神” rather than “毒藥”. The previous translation considers Chinese psychology as well as China’s special situation at that time. The translator gave up literal translation of the brand and adopted rewriting to translate the English name. However, with the openness and liberation of Chinese people’s mind, the
7Jimin CHEN A Study on Trademark Translation of Cosmeticsliteral translation “毒藥” is nowadays quite acceptable and popular among Chinese consumers because the skopos of both the English and Chinese names are quite obvious and precise to different cultures.Unlike 毒藥, the translation of OPIUM into 鴉片is quite another issue. Apparently, these two cases are similar, and the skopos are the same in both English and Chinese cultures. Due to the particular Chinese historical and political background, 鴉片 as a trademark still cannot gain good opinion and succeed in the Chinese market no matter how wonderful the product is. This unsuccessful case and translation could have been avoided as long as the translator knew a bit about Chinese culture and history. Therefore, the influence of a good or bad cosmetic trademark translation is various and a good translator should always take everything into account and have the responsibility for both translation and culture.2.2.2 ResultsIn fact, the naming of foreign cosmetics is different than that of Chinese ones. The former focuses more on the name of the inventor, the place it comes from as well as the creation of new words. Individualism is a cultural phenomenon in most western countries. Cases such as Estee Lauder, Chanel Dior are all named after the creator. Nowadays in the Chinese market, foreign cosmetics seem to be much more popular than Chinese products in all aspects. Among all the possible reasons, a good and brilliant translation is considered one of the marketing strategies in which lots of women believe and on which they rely. Nevertheless, with the development of social interaction and technology, the use of foreignization (zero translation) is applied to more and more foreign products as quite a number of Chinese consumers tend to prefer and worship things that are foreign. Such influential factor will be further discussed in the next section.It seems that the quality of translating foreign brands is better than translating domestic brands in terms of products’ popularity by comparison. One of the reasons could be that most of the foreign brands attempt to promote their culture rather than the name itself. However, Chinese cosmetic brands translations focus too much on the selection of words as well as sounds.3 DiscussionChinese cosmetic t rademarks tend to be symbolic, subtle and sensitive. Most of the names catch consumers’ eyes by the beauty of language and the elegant image the name of the product creates. However, foreign brands pay more attention to the actual information the products carry and their practical values. Some brands use creators’ names and some use the name of hot spring or plants to show the information of original place and materials. When these brands are translated into Chinese, most of the SL information is replaced by some harmonious, graceful and beautiful characters, which indicates that Chinese consumers emphasize more the aesthetic function of trademarks than the informative and practical function of trademarks. Therefore, the thinking mode of western people tends to be more logical and rational according to their ways of naming cosmetic trademarks. Due to such difference between Chinese and foreign cosmetic names, translators should carefully deal with their translations by considering different thought patterns and cultural background so as to reach the same skopos of different trademarks and attract buyers.There are lots of social factors that influence the naming and translation of cosmetic trademarks such as gender, age and culture. Most famous cosmetics are targeted at women. Therefore, how to appeal to women’s psychology is one of the crucial elements to be considered in trademark translation of cosmetics. A woman in general tends to be gentle, kind, romantic and graceful and prefer to be complimented and flattered. Therefore, in order to cater to Chinese women’s mind and preference, characters such as 蘭, 芬, 姿, 雪, 伶, 俐, 雅, 蓮, etc. are often selected to be used in Chinese cosmetic trademarks.Furthermore, age is also an important factor that influences cosmetic naming. Nowadays female consumers occupy most of the cosmetic market. Young
8women between 25 and 35 have the strongest desire and economic power to the consumption of cosmetics as this is the golden period of a woman’s beauty and energy. Besides, young women prefer foreign things and think that imported goods are in some ways better than domestic stuff. Therefore, more and more foreign cosmetic trademarks use transliteration or even zero translation to attract young women such as 歐萊雅, 迪奧, DHC, etc. Some Chinese cosmetic products would rather use foreign names such as Arche to attract young consumers.Last but not least, the characteristic of culture is another factor that influences the naming of a product. Such factor is far beyond the influence of gender and age and even psychology on cosmetic trademarks. In fact, Venuti’s foreinization and domestication are also based on cultural factor. People who grow up in different cultural background have different conventions, characters, psychological states as well as expression ways. Those differences between Chinese and western people make them view the same thing from different angles, which causes the different focus of Chinese and foreign cosmetic brands. In general, the translation of Chinese cosmetic names tends to be more domesticating as it is easier and quicker for foreign consumers to understand the concept of a product. However, the translation of foreign cosmetic brands tends to be more foreignizing since westerners want to introduce their own culture along with the products to Chinese consumers to attract them. Therefore, whether a translator translates either from Chinese to English or English to Chinese, he must take all these factors into account. The only factor which is the same between Chinese and foreign trademarks is the skopos which is to attract buyers and to sell the product. This is the practical aspect of all trademarks.4 ConclusionThe entire paper makes a detailed analysis on trademark translation of both Chinese and foreign cosmetics by applying Vermeer’s skopos theory and Venuti’s theory on foreignization and domestication. It shows that Chinese cosmetic brands are more delicate in choosing characters, while foreign cosmetic brands tend to be more straightforward and rational by the use of creators’ names as well as names of places and materials. Such differences are caused by factors of gender, age, psychology, and culture between Chinese and westerners. Therefore, it is translators’ responsibility to take every possible factor into account so as to avoid misunderstanding and inappropriate translation that might affect consumers’ attitude and psychology in some ways.All in all, the principals of translating cosmetic trademarks are basically the same as translating other genres. The point is that translation is never just about the conversion between two languages. Without taking all influential factors into account during translation, it is easy to get the spirit of the original language lost. This study attempts to combine all previous researches on translation of cosmetic trademarks, collect representative data from both Chinese and foreign markets, discuss the translation based on different approaches, and systematically analyze good and bad translation cases by adopting the skopos theory and Venuti’s two culture-oriented translation strategies. The entire study on such topic can be considered complete in these aspects. The future investigations on such topic could pay more attention to the cultural influence on naming and translation of cosmetic trademarks. Hopefully, there could be studies on such topic analyzed from other viewpoints and perspectives to inspire more scholars who are interested in trademark translation of cosmetics.References [1] Zheng, L.F. (2010). 化妝品品名的語言特點及其翻譯之得失 . Journal of Xichang College. Social Science Edition, 22 (3). Retrieved from China Journals Full-text Database. [2] Liu, R. (2011). A study on the translation of foreign cosmetic instruction from the perspective of reception aesthetics. Retrieved from China Masters’ Theses Full-text Database.[3] Reiss, K., & Vermeer, H. (1984). Grundlegung einer allgemeinen Translationstheorie. Tübingen: Niemeyer. [4] Nord, C. (1997). Translation as a purposeful activity: Functionalist approaches explained. Manchester: St. Jerome.[5] Venuti, L. (1995). The translator’s invisibility: A history of translation. London: Routledge.
9Jimin CHEN A Study on Trademark Translation of Cosmetics[6] Li, H., & Yang, Z.H. (2009). 解構主義視域下化妝品商標的歸化和異化翻譯. 中國校外教育, (12). Retrieved from China Journals Full-text Database.[7] Xu, Y.C. (2006). Preface. In R. Tang, Love songs from China. (pp. 3-10). Chengdu: Si Chuan People’s Publishing House.[8] Hu, L. (2012). 淺析化妝品商標的翻譯. Journal of Jilin Radio and TV University, (10). Retrieved from China Journals Full-text Database.校園活動2015/2016學年第一學期校園活動一覽表序號 日期 活動形式 主題 主講人/參與者 主辦單位18月31日 ～9月7日崗前培訓活動 新學年新教研人員崗前培訓大學及各學院、各行政部門； 40多位新任職教師；大學2 9月 證書頒授儀式持續教育學院“職業安全及健康專業文憑”以及“第三級屋宇設備工程文憑”證書頒授英國職業安全及健康學會香港分會 會長黃偉賢先生等持續教育學院3 9月11日 校園講座 尋找遠方的自己著名文化學者、澳科大人文藝術學院 院長余秋雨教授澳科大人文藝術學院4 9月 學術系列講座 旅遊景區管理及其成功關鍵原香港理工大學旅遊管理學院 葉占雄教授澳科大酒店與旅遊管理學院5 10月起 學生徵文大賽澳科大第五屆校訓盃 讀書徵文大賽通識教育部主辦，人文藝術學院、圖書館協辦6 10月9日外交官講座第五期中美關係的現狀與未來中國駐美國大使館前公使銜參贊， 現中國國際問題研究院常務副院長 阮宗澤先生大學7 10月24日 2015名人公開講座 青年創業創新原中國商務部部長、海峽兩岸關係協會 陳德銘會長中華文化交流協會、澳門特別行政區政府教育暨青年局、澳門科技大大學聯合主辦8 10月27日 校園講座 解讀中國經濟中華全國工商業聯合會副主席、世界銀行前首席經濟學家兼高級副行長、著名經濟學家林毅夫教授澳科大商學院9 10月30日法國昂熱新人電影節澳門站活動三部法國新人電影欣賞 及導演見面會法國昂熱新人電影節、 澳門法國文化協會、 澳門科技大學電影藝術研究院聯合主辦10 10月31日 萬聖節嘉年華“Happy Halloween——2015 萬聖節嘉年華”校園活動澳科大藝術團11 11月7日 消防演習 學生宿舍“火警演習” 近三千住校學生 學生事務處12 11月12日 頒贈儀式在澳機構頒贈科大學子 獎學金、助學金在澳銀行、博彩等數十家機構代表 大學13 11月12日 校園講座如何在《自然》雜誌上 發表學術論文《自然》雜誌大中華區執行總編 Nick Campbell博士大學14 11月17日十字門各家講壇第一場刑法修正案（九）的 觀察與思考北京師範大學刑事法律科學研究院院長暨法學院院長趙秉志教授法學院15 11月18日高等院校專題講座系列憲法與基本法澳科大學法學院朱世海副教授；法學院師生澳門法務局和法學院 聯合主辦16 11月23日 校園座談會2016特區施政前瞻： 新形勢，新發展澳科大社會和文化研究所 主辦17 11月28日2015當代傑出華人科學家公開講座新發突發傳染病的形式：中國公共衛生走向世界；大型裝備數字設計與智能製造中國科學院院士、中國疾病預防中心副主任高福先生；中國工程院院士、浙江大學機械工程學院院長譚建榮先生；本澳中小學生、科大師生、各地科協成員中國科學技術協進會、 澳門科學技術協進會主辦、 澳門科技大學協辦18 11月30日第四屆“國際法進校園”活動國際海洋法的發展與挑戰；當今國際形勢與中國外交外交部條約法律司馬新民副司長； 外交部政策規劃司楊小茸副司長； 法學院師生外交部、澳門外交公署、 澳門科技大學主辦、 澳門科技大學法學院承辦
10第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 內地學生與澳門學生在交往過程中存在的問題 ——基於紮根理論的探索性研究汪 菲*，程文麗（澳門科技大學人文藝術學院，澳門；澳門科技大學通識教育部，澳門）摘要： 內地學生赴澳門就讀的人數逐年增多，跨文化背景下的他們不可避免地要與當地學生進行接觸和交往，本研究通過紮根理論的方法，利用質性分析軟件Nvivo.10對訪談資料進行逐級的編碼和分析後，發現內地學生與澳門學生在交往過程中存在的問題可歸結為兩大方面：一是兩地學生在客觀上無交往的條件，二是兩地學生在主觀上無交往的動機；並根據這兩大類問題對澳門高校的學生管理工作提出一些建議，期望能幫助兩地學生形成更加緊密團結的關係。關鍵詞： 內地學生；澳門學生；跨文化交往The Existing ProAlems in the Communication Process of Mainland Students and Macao Studentst: Based on the Exploratory Research on the Grounded TheoryFei WANG*, WenLi CHENG( Faculty of Humanities and Arts, Macau University of Science and Technology, Macau, China; General Education Department, Macau University of Science and Technology, Macau, China )AAstractt: With the increasing number of mainland students in Macao, they will inevitably have contact and communication with the local students under the cross-cultural background. At first, this research applied the qualitative analysis software Nvivo.10 to conduct step-wise coding and analysis on the interview data. Next, the grounded theory was adopted to find that the existing problems in the communication process of mainland students and Macao students can be included into two aspects: one, no communication condition objectively; two, no communication motivation subjectively; further, this research put forward some suggestions on the student management of Macao colleges aiming at the above two problems in order to help the students in mainland and Macao to form closer and unified relationship. eywordst: Mainland students; Macao students; Cross-cultural communication 收稿日期：2015-06-19；修訂日期：2015-06-29。*通訊作者：汪菲，女，澳門科技大學人文藝術學院博士生，主要研究方向為跨文化傳播。E-mail:wangfayeguoer@163.com，Tel:00853-621150850 引言近些年來，隨著澳門高校的擴招，越來越多的內地學生選擇赴澳求學。來到澳門讀書不僅可以接受到與內地不同的教育模式，還可以開闊眼界、增長見聞，這對於個人的成長和發展來說是一個不可多得的機會。然而，機會與挑戰並存，內地學生在澳門的生活並非是一帆風順的，來到一個與內地文化存在諸多差異的新環境下難免會出現不同程度和不同方面的文化適應問題，本文則是選取跨文化交往的角度，運用紮根理論的方法來探討內地學生與澳門本地學生（以下簡稱“澳門學生”）在交往過程中存在哪些方面的問題。
17第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 在多媒體環境下認知學習策略的選擇 和學習者漢語水平的關係研究張 艷，韋 衛* （澳門科技大學國際學院，澳門）摘要： 在對外漢語教學中使用多媒體技術越來越受到研究者的關注，但是外國人在學習這些多媒體材料過程中所使用的認知策略卻很少有人研究。 本文選取了六名具有不同性別、年齡、國籍、母語、專業背景、漢語水平的正在學習漢語的來華留學生。通過對他們在觀看兩段孔子学院提供的两段不同難度、題材的無字幕漢語教学視頻時認知策略使用情況的採訪，分析得出不同漢語水平的學習者（在多媒體輸入環境中）認知策略的使用頻率並得出自我管理模式下兩組變量之間的關係：認知策略的使用與學習者的漢語水平，認知策略的使用與視頻難度。這為以後更好的選擇，引導和説明漢語學習者通過多媒體學習漢語打下了理論基礎。關鍵詞： 多媒體輸入；認知策略；漢語水平；漢語作為第二語言教學An Investigation of the Relationship Between Language Learners' use of Cognitive Strategies and Their Language Proficiency in a Multiple Media Learning EnvironmentYan ZHANG, Wei WEI( University International College, Macau University of Science and Technology, Macau,China )AAstractt: This study investigated the relationship between language learners' self-reported language proficiency (learning Chinese as a second language), their use and choices of cognitive language learning strategies and the difficulty level of multiple media input. Six students have been invited to participate in this study based on their nationality, age, years of Chinese language learning, mother language and locations. Two pieces of videos were used in the research based on the topics, length and vocabulary level. Coding system for the interview transcripts were developed based on Oxford's definition and categories of cognitive learning strategies. Researching on the relationship among language learners language proficiency (learning Chinese as a second language), their use and choices of cognitive language learning strategies and the difficulty level of multiple media input provides the theoretical basis for multiple media Chinese learning.eywordst: Multiple Media Input; Teaching Chinese as a Foreign Language; Cognitive Learning Strategies收稿日期：2015-09-09；修訂日期：2015-11-03。*通訊作者：韋衛，男，博士，助理教授，主要研究方向：語言測試與評估，語言教學法。 E-mail: wewei@must.edu.mo，Tel: 00853-28990126
23張艷，等 在多媒體環境下認知學習策略的選擇 和學習者漢語水平的關係研究表5 觀看不同難度多使用的認知分策略情況視頻最常使用的認知分策略（數量）沒有使用的認知分策略難度高 區別（8）利用聽覺視覺觸覺理解 和記憶綜合（資料）難度低利用視覺理解和記憶（11）利用聽覺視覺觸覺理解 和記憶反向信息內化綜合（資料）從上面的表格我們可以看出，在這個六人觀看視頻接受認知策略訪問研究中，學習者面對難度高的視頻和難度低的視頻最常使用的認知分策略分別是區別和利用視覺理解和記憶。以下的對話來自兩位面對高難度視頻的漢語學習者使用區別策略的例子。Z：這一段你理解了什麼呢？L：三個人住在一起，因為要看不同的電視節目，就打起來了。嗯，三個人，喜歡不同的電視節目，籃球，唱歌和 cartoon（有記錄這三個詞）。三個人想要那個……（手比劃遙控器）。They fight but it doesn't work. So 小孩 the child suggested they could negotiate finally.對話中受訪者在記錄關鍵字“籃球，唱歌，cartoon”。這屬於區別策略的體現。以下的對話來自面對低難度視頻的漢語學習者使用利用視覺理解和記憶策略的例子。Z：是的。我看你看的時候非常認真，盯著螢幕，這是為什麼呢？S：是的。我盯著電腦，因為不知道你會問什麼問題，所以看得認真點比較好。對話中受訪者想要瞭解視頻在說什麼就盯著螢幕，屬於利用視覺理解和記憶分策略的範疇。我們在這個六人觀看視頻接受認知策略訪問的研究中認知策略的使用和視頻難度有關係的原因可能有一個。難度高的視頻，因為包含了較難的詞彙，所以對於三個不同漢語水平的學習者而言，都處在“自下而上”理解模式的狀態下。可是又因為是中級難度的視頻，所以聽音辨意的情況不是特別多，多需要記錄一下關鍵的信息點，掌握視頻大意（還是分辨個別關鍵詞語）是六位被採訪者的需求，所以多使用區別這一認知分策略。而面對難度低的視頻，三個不同漢語水平的學習者處在“自上而下”的理解模式中，又因為多媒體輸入有利用視覺聽覺等感官刺激的特點所以多使用利用視覺理解和記憶的分策略來對視頻內容做一個瞭解和記憶，不需要多的信息辨別。通過以上對研究結果的描述，我們可以總結得出以下幾點。第一，在這個六位留學生觀看兩個不同難度的視頻中所運用的六種認知策略的頻率是不一樣的。最常使用的是細節概念化，最不常使用的是知識激活。第二，在這六人為樣本的認知策略的使用情況的研究中發現認知策略的使用和學習者的漢語水平有關。高級漢語水平、中級漢語水平以及初級漢語水平學習者最常使用的認知策略分別是深入理解信息策略、細節概念化策略和細節概念化策略。第三，在這六人為樣本的認知策略的使用情況的研究中發現認知策略的使用還與視頻的難度有關。面對難度高的視頻和難度低的視頻，這六位被採訪者最常使用的分策略分別是區別策略和利用視覺理解和記憶策略。下一章，將結合文獻討論這幾點結論。4 討論根據上一章對研究結果的分析總結，我們將結合文獻在這一章進一步討論以下兩個問題：認知策略的使用和學習者漢語水平的關係以及認知策略的使用和視頻難度的關係。第一個發現是認知策略的使用和學習者的語言水平有關係。在本次研究中，高級漢語水平學習者最常使用的認知策略是深入理解信息策略，中級漢語水平和初級漢語水平學習者最常使用的認知策略均為細節概念化策略。這就符合“自上而下”和“自下而上”理解模式理論（Richards， 1990[23]；Alberto， 2013[1]；Corrado， 2015[5]）。高級漢語水平的學習者已經具有良好的基礎知識，所以採用“自上而下”的理解模式，也就是他們在對一段視頻材料的理解其實是在“驗證自己對內容的期望值”。“自上而下”的理解模式下的
24學習者會把聽到的對話做一個屬性判斷和分類或是對內容的推斷，所以深入理解信息策略被經常使用。而初中級漢語水平的學習者則利用“自下而上”的理解模式。這種理解模式下的學習者是把語言輸入當作一種語料意思的信息源，把接收到的語言輸入進行分析直至把意思弄懂。所以相應的關注細節的細節概念化的策略就會被經常使用。第二個發現是在這六人為樣本的認知策略的使用情況的研究中發現認知策略的使用與視頻的難度有關。越來越多的證據表明（Lynch & Mendelsohn，2002[15]; Rost ，2002[24]），語言學習者能夠運用所學到的背景知識，所知道的或者熟悉的文化知識去理解难度较低聽力材料的時候，他們一般喜歡使用自上而下的模式，因為這些知識或者信息存儲在他們的長期記憶中，這些記憶可以幫助他們理解或者克服聽力過程中在詞匯，語言遇到的問題。但是相反，如果不熟悉話題或者沒有背景知識，語言學習者常常使用自下而上的方法，從語言的音節，單詞或者句子的水平上去慢慢構建聽力理解。面對難度高的視頻和難度低的視頻，這六位被採訪者最常使用的分策略分別是區別策略和利用視覺理解和記憶策略。這兩者分別隸屬於細節概念化策略和利用知覺理解和記憶策略。這個發現在某種程度上與第一個發現的原理類似。因為面對一個難度高的視頻材料時，學習者相對地都變成了中低語言水平的學習者，所以在 Richards（1990）[23] 的“自上而下”和“自下而上”的理解模式理論的解釋下，即可以理解細節概念化策略的經常使用。同樣地，當面對一段難度低的視頻，學習者相應地就變成了高水平的漢語學習者。他們最常使用的是利用知覺理解和記憶策略下的利用視覺理解和記憶策略。他們面對低難度的視頻時，在“自上而下”的理解的模式下，把材料當成一個理解資訊的來源，以理解意思為主要目的。那麼他們相應地就經常使用利用知覺理解和記憶策略下的利用視覺理解和記憶策略。5 結論經過对研究結果和討論分析，本研究獲得結論如下：第一，在這個六位留學生觀看兩個不同難度的視頻中所運用的六種認知策略的頻率是不一樣的。最常使用的是細節概念化，最不常使用的是知識激活。第二，在這六人為樣本的認知策略的使用情況的研究中發現認知策略的使用和學習者的漢語水平有關。高級漢語水平學習者最常使用的認知策略是深入理解信息策略而中級漢語水平和初級漢語水平學習者最常使用的都是細節概念化策略。第三，在這六人為樣本的認知策略的使用情況的研究中發現認知策略的使用還與視頻的難度有關。面對難度高的視頻和難度低的視頻，這六位被採訪者最常使用的分策略分別是區別策略和利用視覺理解和記憶策略。對於對外漢語教學至少有兩點啟示：首先，多媒體教學並不是適用於所有不同漢語程度的學習漢語的外國學生，同樣一段視頻會因為難度的不同，對學習者的認知策略產生影響。其次，當對外漢語教師在選擇視頻進行教學，或者是推薦漢語學習者多媒體資料的時候，需要考慮他們的漢語水準以及視頻的難度。最後，本次研究的侷限性也是不容忽視的，六位來自不同國家的被採訪者並不能夠完全代表所有的漢語學習者。就像所有的定性研究一樣，本次研究成果的代表性和應用型取決於多大程度上讀者認為這六位漢語學者能代表他們在工作中所教授的漢語學習者。以後的研究方向包括使用定量研究方法在更大的樣本基礎上去證實本次定性研究中發現的漢語學習者在面對不同難度的多媒體語言輸入的時候採用的不同的認知學習策略。參 考 文 獻[1] Alberto, C. (2013). Mindfulness: Top–down or bottom–up emotion regulation strategy. Clinical Psychology Review, 33: 82-96.[2] Beatty, K. (2005). Teaching and Researching Computer-assisted Language Learning. Beijing: Foreign Language Teaching and Research Press.[3] 陳菊詠.留學生聲調發音中的記憶錯誤和習得偏誤. 華語文教研究,
25張艷，等 在多媒體環境下認知學習策略的選擇 和學習者漢語水平的關係研究2011, 8 (1), 27-45.[4] Chun, D. M., & Plass, J. L. (1996). Facilitating reading comprehension with multimedia. System, 24(4): 503-519.[5] Corrado, C. D. (2015). Selecting category specific visual information: Top-down and bottom-up control of object based attention. Consciousness and Cognition. Online published first.[6] Collins, J., Hammond, M., & Wellington,J. (1997). Teaching and Learning with Multimedia. New York: Routledge.[7] Ellis, R. (1994). The Study of Second Language Acquisition. New York: Oxford University Press.[8] Ellis, R. (2008). The Second Language Acquisition (Second Edition). New York: Oxford University Press.[9] 方愛國. 多媒體輔助英語閱讀教學的語言輸入優勢.麗水師範專科學學報，2003，25（3），92-94.[10] Gass, S. M. (2013). Second Language Acquisition: an Introductory Course. New York: Routledge.[11] 李紅，塔廣珍. iPod和網播在多媒體對外漢語教學中的應用與思考. 第六屆中文電化教學國際研討會，韓國，中文教學現代化學會，2008，400-405.[12] 劉珣. 對外漢語教育學引論. 北京：北京語言大學出版社，2011[13] Long, M. (1981). Input, interaction and second language acquisition. In H. Winitz (ed.), Native Language and Foreign Language Acquisition (pp. 379). New York: Annals of the New York Academy of Sciences.[14] Loschky, L. (1994). Comprehensible input and second language acquisition: what is the relationship. Studies in Second Language Acquisition, 16: 303-23.[15] Lynch, T. & D. Mendelsohn (2002). Listening. In N. Schmitt (ed.), An Introduction to Applied Linguistics (pp. 193-210). London: Arnold.[16] Mackey, A. (1999). Input, interaction and second language development: an empirical study of question formation in ESL. Studies in Second Language Acquisition, 21: 557-87.[17] Mayer, R. E. (1997). Multimedia learning: are we asking the right questions. Educational Psychologist, 32: 1-19.[18] Mayer, R. E., & Moreno, R. A. (1998). Cognitive theory of multimedia learning: Implications for design principles. Journal of Educational Psychology, 91(2): 358-368.[19] Oxford, R. L. (1990). Language Learning Strategies. New York: New bury House Publishers.[20] Oxford, R. L. (2011). Teaching and Researching Language Learning Strategies. New Jersey: Pearson Education. [21] Paivio, A. (1986). Mental Representations: a Dual Coding Approach. New York: Oxford University Press.[22] Plass, J. L., & Jones, L. (2005). Multimedia learning in second language acquisition. In R. Mayer (ed.), The Cambridge Handbook of Multimedia Learning (pp. 467-488). New York: Cambridge University Press.[23] Richards, J. C. (1990). The Language Teaching Matrix. Cambridge: Cambridge University Press.[24] Rost, M. (2002). Teaching and Researching Listening. Harlow: Longman.[25] Widdowson, H. G. (1983). New starts and different kinds of failure. In A. Freedman, I. Pringle, & J. Yalden (ed.), Learning to Write: First Language/Second Language (pp. 34-47). London: Longman.學術活動澳科大舉辦世界中醫藥學會聯合會中醫藥免疫專業委員會 第二屆學術年會暨兩岸四地中醫藥治療風濕病研討會世界中醫藥學會聯合會中醫藥免疫專業委員會第二屆學術年會暨兩岸四地中醫藥治療風濕病研討會於12月4日在澳門科技大學隆重舉行，來自中國大陸、德國、香港、澳門等國家和地區的中醫藥免疫專家、同行和學生近两百人出席了本次會議。為了推動中醫藥免疫學科的進一步發展及向世界推廣，中醫藥免疫專業委員會第二屆學術年會邀請了在免疫學、中醫藥學、生物醫藥等領域知名的國際專家學者就中醫藥在防止風濕病的臨床和基礎研究、風濕免疫、腫瘤免疫、免疫干預與創新藥物研究等領域的研究現狀和最新進展進行了31個大會及專題報告。復旦大學基礎醫學院醫學分子病毒學教育部/衛生部重點實驗室教授、病原微生物研究所所長姜世勃教授做了題為“抗中東呼吸道綜合症（MERS）藥物和疫苗的研究”的大會報告，世界中醫藥學會聯合會中醫藥免疫專業委員會第一屆理事會的副會長兼秘書長徐強教授做了題為“新的緩解類風濕性關節炎病情藥Iguratiod的獨特療效和機制”的報告、副會長托馬斯‧艾菲斯教授（Prof. Thomas Efferth）做了題為“采用天然化合物抑制EGFR而治療腫瘤的研究”的報告、副會長姜泉教授做了題為“雷公藤減毒增效策略——復方雷公藤外敷治療類風濕關節炎的臨床研究”的報告、澳科大校長劉良講座教授做了題為“中醫診療類風濕性關節炎的關鍵科學問題及新發現”的報告。會議專家也對緩解類風濕性關節炎病情藥（DMARDs）的新分類、類風濕性關節炎的消化道微生態特徵及中藥干預的效果、中醫藥整合生物標誌物體系與精準醫學、抗類風濕性關節炎植物藥青藤鹼的作用新機制等中醫治療風濕病和中醫藥免疫的熱點問題進行了彙報和討論。
26第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 敘述城市的隱喻：香港粵語電影對澳門 的想像與構建余思亮（澳門科技大學國際學院，澳門）摘要： 上世紀五、六十年代香港粵語電影經常出現澳門的城市景觀，甚至有不少將澳門設定為電影的故事背景。因歷史殖民之故連帶相依，香港與澳門有著相似的遭遇卻有異不同的命運，而香港所缺乏的就是小城獨有的魅力，澳門的城市建築乃至人文風情為當時粵語片的取材帶來豐富的靈感泉源，誠然電影裡只是透過想像的手段再現城市的載體，透過隱喻的方式解讀以及賦予重新的意義呈現於螢幕前理想中的澳門形象。關鍵詞： 澳門；香港；粵語電影；隱喻Narrative Metaphor in Hong ong Cantonese Movie AAout Imagination and Construction of Macao Sileong U( University International College, Macau University of Science and Technology, Macau,China )AAstractt: Hong Kong Cantonese movie (1950-1969) frequent the landscape of Macau, Macau and even many will be set to the background story of the film. Therefore, due to the joint history of colonial dependency, Hong Kong and Macau had similar experiences there are different fate, but lacks the charm of Hong Kong is a unique town, city buildings and the cultural of Macau was a rich Cantonese films drawn source of inspiration, the movie is true only through the means of reproduction city imagined through metaphors and giving way to re-interpret the meaning of the ideal presented of image in Macau.eywordst: Macau; Hong Kong; Cantonese Movies; Metaphor收稿日期：2015-08-06；修訂日期：2015-09-04。*通訊作者：余思亮，女，暨南大學文學博士，澳門科技大學國際學院助理教授，主要研究方向：文藝美學。 E-mail: slu@must.edu.mo，Tel: 00853-889723440 引言如果說城市景觀與歷史文化能夠建構電影裡特定的時間和空間，那麼電影亦同時為城市形象的塑造、歷史流動的過程裡賦予重新的詮釋，當中蘊含城市想像的再現以及文化符號的隱喻。過去，香港與澳門有著共同遭遇的歷史命運，歷史的流動卻是如此深刻，打下殖民地烙印的記號；澳門曾是葡萄牙的殖民地，地方雖小，如織綿的橫街窄巷總散落著葡韻風情的建築，在外人眼中所見到城市景觀：南歐風格建築、平滑的石仔路、瑰麗恬靜的教堂、香火繚繞的廟宇，澳門確是充滿異國情調與中國傳統文化揉合的混雜小城。1 “外界”對澳門的過往認知1.1 身份認同上的優越感 從經濟效益出發，電影製作必然考慮到資金
31余思亮 敘述城市的隱喻：香港粵語電影對澳門 的想像與構建但最終能父子相認、一家團聚。這類始亂終棄、浪子回頭為題材的電影深得觀眾的接受和共鳴，不少與之相關類型的電影常以澳門小城視為理想的隱居之地，寄予重新振作，開展一段新生活，從而斷絕過去不為人道的淒慘遭遇。4 總結五、六十年代香港粵語電影不少以澳門作為電影故事的背景和過渡場景，這座異國風情的小城獨具引人的城市風貌，縱橫交錯的小街小巷，寧靜純樸的人情，正好與繁華急速的香港相反，很自然投射到鄰近只有隔海之遙的澳門去追尋心理上的慰藉，因此電影裡的澳門被隱喻為失意者的避難所或是人生的中轉站，暫時寄存那顆脆弱不堪、傷痕纍纍的心靈，等待重生的機會。誠然，關於尋覓愛情的主題卻是當時社會的現實的反映，也表現了港澳之間兩地居民的姻親聯繫。或許，電影裡並沒有如實展示真實的澳門，只是外人對澳門的想像重新定義和包裝。生於斯長於斯的澳門人，假若此刻重溫經典粵語片，追溯將近六十年前的舊澳門，每當走過昔日的街巷，會否對小城增添多一份依戀及歸屬感？參 考 文 獻[1] 陳家樂《香港電影、電視及新媒體研究》；香港：天地圖書有限公司，2011：215[2] 博埃默(Elleke Boehmer)著，盛寧譯，《殖民與後殖民文學》；香港：牛津大學出版社，1998：14[3] 博埃默(Elleke Boehmer)著，盛寧譯，《殖民與後殖民文學》；香港：牛津大學出版社，1998：17[4] 黑格爾《精神現象學》上卷；北京：商務印書館，1996：129[5] 香港影庫Hong Kong Movie Database[6] http://hkmdb.com/db/movies/image_detail.mhtml?id=4261&image_id=184823&display_set=big5[7] 香港影庫Hong Kong Movie Databasehttp://hkmdb.com/db/movies/image_detail.mhtml?id=4314&image_id=147869&display_set=big5[8] 徐賁《走向後現代與後殖民》；北京：中國社會科學出版社，1996：100學術活動“明珠星氣 白玉月光”梵蒂岡宗座圖書館地圖文獻珍藏展在澳科大展出澳門科技大學、梵蒂岡宗座圖書館聯合主辦的“明珠星氣，白玉月光”梵蒂岡宗座圖書館地圖文獻珍藏展暨第二屆“全球地圖中的澳門”國際研討會，7月29日假澳門科技大學圖書館大樓舉行。活動展出近百件從梵蒂岡宗座圖書館數以百萬計的館藏中精心挑選出的古地圖和文獻珍品，這些珍品不僅是第一次走出梵蒂岡來到澳門公眾的面前，而且還是這所歐洲最古老的圖書館的館藏首次在兩岸四地展出。展品的創作年代從12世紀到19世紀，其中包括著名的葡萄牙製圖師里貝羅1529年創作的世界地圖，堪稱地理大發現時代的頂峰之作之一；1602年利瑪竇的《坤輿萬國全圖》原刻本，該圖存世只有六件，梵蒂岡圖書館所藏是保存狀況最好的一件；1634年湯若望《赤道南北兩總星圖》，是目前所見傳世最早的包括南極區在內的大型中文全天星圖，該圖長逾五米，視覺效果極具震撼力；1667年基歇爾《中東至中國和北亞路線圖》繪製了歷史上的“一帶一路”，圖中海上絲綢之路的起點正是澳門。圍繞展品及主題，主辦方於7月29日至30日期間假澳科大圖書館大樓召開為期兩天的國際研討會，邀請中西文化交流史專家、古地圖專家和文獻專家進行學術研討並共商合作，主要研究方向包括：一）古代中國對本國、別國和宇宙的認識；二）古代西方對東方的想象和探索；三）西學東傳與東學西引；四）早期來華來澳傳教士；五）禮儀之爭與澳門；六）其他相關議題。研討會首日第一場主旨發言後，大會更安排了一場40分鐘的“東西望洋五百載，重聚濠鏡展新圖”的對話環節，由著名學者錢乘旦教授主持，吳志良博士、布魯格斯總主教、鄒逸麟教授、余東研究員、龔纓晏教授等國內外一流學者分別作為梵蒂岡、中國內地和澳門學者進行學術對話，異彩紛呈。
32第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 回歸本土，回歸家庭 ——由近代澳門文學中的女性形象著眼探討澳門華人文化身份建構危機與出路田 媛（澳門科技大學通識教育部, 澳門）摘要： 澳門近代的殖民歷史充斥著過去與現在，傳統與外來文化的不斷衝突與融合。種種社會歷史原因影響之下，本地華人與葡人社區之間涇渭分明，往往只能依歸傳統中國文化來建構自我身份認同，但當傳統已無法涵蓋當下新時代的種種時，又面臨新的身份危機，頗費周折。到了二十世紀八、九十年代，殖民時代末期，本地女作家們漸起發聲，在古今中外匯流的大背景下探尋自身存在的價值與意義，立足家庭與社區，在文化傳統中增添現代因素，構建起賢良淑德又自立自強的本土女性形象，做到了古為中用，洋為中用。本文以此時期作品中的女性形象為研究對象，引入後殖民主義研究的觀點，從文化雜糅與身份建構的角度著眼，討論該時期在澳華人對于自身文化身份的反思與對未來的出路的探究。關鍵詞： 文化雜糅；身份建構；文化身份建構危機The Cultural Identity Crisis and Exploration of Future Developments in Macao Female Literal EorksYuan TIAN *( Department of General Education,Macao University of Science and Technology, Macau,China )AAstractt: Recent Macao history is full of conflicts between past and present, and confrontations between traditional Chinese and Western culture. Ruled by the Portuguese but refused to be part of them, local Chinese have been struggling to overcome their identity crisis. During the 1980s and 1990s, the final chapter of colonial control, Macao female writers tried to explore the value of their existences in their works. They constructed local female figures who owned traditional Chinese virtues and were confident and independent at the same time, under Western influences. This paper intend to use the post-colonial ideas, such as cultural hybridity and identity construction, to discuss local Chinese’s temporal retrospect on the formation of their cultural identity and effort on their future developments. eywordst: Cultural hybridity; Identity construction; Cultural identity crisis收稿日期：2015-10-19；修訂日期：2015-11-10。*通訊作者：田媛，女，澳門科技大學通識教育部高級講師、在讀博士，主要研究方向：傳播學。 E-mail: ytian@must.edu.mo；Tel:00853-88972814
36女兒的形象在單一的順從之外，增加了對於自己在家庭中和事業上所處的位置與個人發展的空間、價值的思考。不容忽視的是，他們首先是接受男權社會的，在此基礎上才號召女性們奮發自立自強，不要過分依賴家庭。傳統的家庭概念就這樣被承襲了下來，稍加改變，以回應現時代追求獨立與自由的訴求。從而將傳統與當代這兩個原本相互矛盾的概念糅合在了一起。比如黃淑媛（筆名斯雋）在小說《影子》裡用一個家庭中女兒的身份喊出了“我和她們（母親與暗戀父親的陳阿姨）是兩個世界裡的人，現今的世界，是為自己而活”[16]，不想像老一輩那樣一直活在文革中過世的鋼琴家父親的陰影裡。但最終兩代女人還是達成了和解，女兒理解了母親還有陳阿姨那一輩人甘心情願的自我犧牲，而母親也敞開心扉，嘗試體諒女兒這一代人對於個性發展的追求。兩代人的互諒互讓，就是繼往開來的承接節點。湯梅笑 1999 年出版《自己的屋子》，以 100 篇清新雋永的散文引領讀者站在一個四十歲女人的角度，以“新中年”的態度揣摩自身兼看待生活中的點滴。所謂“新中年”，即是“我們在做著父母，也要做自己，在照顧家庭時，亦重視自己的價值，不捨棄自己的追求。”[17]有別於老一輩一世人以養兒育女為本、辛勞一世，新中年的一代追求成家之外更有立業，享受人生。綜上所述，八、九十年代本土華人女作家對於女性形象的建構可以體現葡國文化的影響，卻仍然主要基於傳統中國文化（嶺南文化，媽祖文化，及儒家文化）的理念。外來文化的融入恰如其分地填補空白，避免了僅有單純的過往經驗已無法全面解讀當前社會現實的窘境。反映在這一時期的文學作品裡，華人女性們一方面進一步強化了自己作為“母親”，“妻子”及“女兒”的傳統形象，一方面又開始引入女性主義與個人主義的觀點，呼籲過份依賴家庭的女性自立自強，在承襲至今的男權社會裡尋求更好的自我發展。就在這樣的回歸本土、回歸家庭的努力裡，八、九十年代的本土女作家們將古今中外的因素雜糅在一起，構建出這一時期理想的女性形象：內外兼修，既做賢妻良母，管好一家大小；又身心獨立，有事業追求。相應的，此間的華人在反思自身文化身份的構建時，不再著眼於充斥著社群隔閡的全社會，而是回歸家庭與周邊社區，以中華文化為憑藉，不斷吸收外來與新興文化，古為今用、洋為中用，融匯貫通再不斷發展壯大。參 考 文 獻[1] 王甯. 文化研究的歷史與現狀：西方與中國文化研究 第一輯. 天津：天津社會科學出版社，2000[2] Bhabha, Homi, “Border Lives: the Art of the Present”, in “The Location of Culture”. London, Routledge. 1994：2[3] 黎熙元. 難以表述的身份——澳門人的文化認同//二十一世紀評論. 2005，92：18[4] 譚正璧. 中國女性文學史. 天津：百花文藝出版社，2001，：7[5] 姬朝遠. 不同時代中央政府處理澳門問題簡析//一國兩制研究. 第13期，澳門 ： 澳門理工學院一國兩制研究中心. 2012：12[6] 汪繼賢. 愛在一九八一年. （2012年10月）[2014年11月26日] http://www.rti.org.tw/ajax/Recommend/201210best_content2.aspx?contentid=152089[7] 根據《葡萄牙國籍法實施細則》規定，在葡萄牙或葡萄牙管理地區出生的人士被推定為葡萄牙公民。因此不論其血統、居住地、父母的國籍等因素，均可取得葡萄牙的身份證明文件及旅行證件。詳見Lei Da Nacionalidade, Imprensa Nacional De Macau, Outubro 1982:5 及Constituição da República Portuguesa, Imprensa Nacional De Macau, 1982:110[8] 劉登翰. 論中華文化在澳門的主體地位和主導作用//千禧澳門文學研討會. 澳門：澳門日報出版社， 2002：21-23[9] 諶旭彬. 1975年“澳門歸還風波. （2012年10月）[2015年10月09日] http://view.news.qq.com/zt2012/am/index.htm[10] 同上[11] 黎熙元. 難以表述的身份——澳門人的文化認同//二十一世紀評論2005，92：25[12] 湯梅笑. 傳統文化精神在澳門世情生態小說中的展示//李觀鼎. 澳門人文社會科學研究文選 文學卷. 北京：社會科學文獻出版社，1999：130[13] 廖子馨. 論澳門現代女性文學//李觀鼎澳門人文社會科學研究文選 文學卷. 北京：社會科學文獻出版社，1999：143[14] 同上：142[15] 章文欽. 澳門與中國歷史文化. 澳門：澳門基金會，1994：158[16] 廖子馨. 論澳門現代女性文學// 李觀鼎. 澳門人文社會科學研究文選 文學卷. 北京：社會科學文獻出版社，1999：145[17] 林中英. 自己的屋子. 北京：中國文聯出版社，1999：57
37第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 論通識教育是大學語文教學實踐理性的本體李 開*，蕭寶鳳（澳門科技大學通識教育部，澳門）摘要： 澳門科技大學大學語文教學以通識教育為其實踐理性的本體，是其弦歌不輟的根本原因。大學語文既要重視提高學生的基礎語文水平和寫作能力，也要強調提高學生的思維能力、分析問題的能力和欣賞能力。大學語文教學的實踐理性，可由教材及其教學實踐過程得到解讀。有關大學語文的教材建設理論，文中以圍繞通識教育作“思想內容＂維度的課文分類為其要；有關大學語文的課程建設理論，文中以學術和教學藝術，智商和情商雙並重為其途。關鍵詞： 通識教育；大學語文；實踐理性的本體；雙並重General Education is the Nature of Practical Rationality in College Chinese TeachingKai LI*, Baofeng XIAO( Department of General Education, Macau University of Science and Technology, Macau,China )AAstractt: That general education constitutes the nature of practical rationality guarantees the continuation of College Chinese teaching at Macau University of Science and Technology. Not only does College Chinese, a combination of utility, literariness and humanities, aims to promote students’ basic Chinese levels and literacy, but enhances their capabilities of reasoning, analyzing and appreciating. The practical rationality of college Chinese is open to interpretation in terms of teaching material and the process of teaching practice. In relation to taxonomy of texts based on general education as “thoughts and contents” as its principle. In regard to the theory of constructing curriculum of college Chinese, this essay adopts a double-emphasis approach which gives equal emphasis on scholarship and teaching art, intelligence quotient and emotional quotient (rational analysis and humanistic passion).eywordst: General education; College Chinese; the nature of practical rationality; Double-emphasis收稿日期：2015-09-18；修訂日期：2015-10-22。*通訊作者：李開，男，文學碩士，哲學博士，現任澳門科技大學特聘教授，主要研究方向：語文學和漢語文化研究。Email: kli@must.edu.mo，njdxlikai9303@163.com，Tel:00853-88972981，0086-181655604370 引言澳門科技大學從 2003 年起，即開設大學語文課，每週 3 課時，課時之多，居本澳高校之首，且十數年來從未間斷過。環顧高校系統，不少學校的大學語文課程開開停停，特別是近年來中學語文教學優化，中學生語文水平有了一定提高之後，大學還要不要開語文課常常成了心中塊壘，令主事者舉棋不定。人們不禁要問，是什麼原因讓這裡的大學語文教育弦歌不輟，賡續持久呢？羅馬並非畢其功於一役，一句話，是通識教育（或稱素質教育，博雅教育）的理念長期支撐著這裡的大學語文教學，通識教育成了這裡的大學語文教學實踐理性的本體。“實踐”總是以理論與實
38踐相統一的原則為其邏輯前提，以研究對象大學語文課程的實際展開過程為實踐；“理性”是指實踐過程服從理念為邏輯前提，這裡指通識教育，因為它具有優先的地位，作為大學語文教學實踐理論的條件，始終制約著教材建設、教學實踐和教學法的方方面面。也正因為它在大學語文教學這一存在中的重要地位，故謂之本體。1 通識教育和大學語文教學澳門科技大學創辦後的第三年，大學領導在深入考察內地、臺灣、香港以及歐美大學的教育體系之後，結合澳門的實際情況，率先在澳門高校的學士學位課程中列入通識教育科目，逐步構建起包括人文藝術、社會科學、自然科學等領域的通識教育課程體系，涵蓋了中國和世界優秀文明成果[1]。通識教育的核心在於保持人類精神文明的文化傳統和它的傳承路徑博雅教育的傳統，文化傳統不必細說，即使是“博雅教育”也很古老，它甚至可追溯到柏拉圖提出的一個“自由的城市公民”應當具備的“四藝”（Quadrivium），即算術、天文、幾何、音樂。後來又擴大到“自由七藝”（seven liberal arts），由“四藝”再加上邏輯、語法、修辭[2]。與柏拉圖同處於“人類軸心時代”的孔子提出了“四教”，《論語 ‧ 述而》：“子行四教：文、行、忠、信。”提出了“六藝”：禮、樂、詩、書、御、射。這大致上是從學習的行為、途徑、內容方面講的，完全稱得上“博雅教育”。當然，“四藝”“七藝”，“四教”“六藝”無疑也是文化傳統。古典文化傳統及其傳承途徑“博雅教育”的演繹，使得近現代通識教育在其本質上就烙上了全面、通才、尤重人格素質的印記。古希臘哲人提出的做人信念是“道德即理性”，道德服從理性。孔子“人之為人”的信念在於“仁”[3]，“四教”之“行”受“仁義禮知信”五大根本的節制。無論是古希臘的“道德即理性”，還是中國古代的“道德文章”，都強調做人的無比重要性，怎樣做人是第一位的。對此，大學領導有過清醒的認識：“最高的學問不是鑄金而是鑄人。大學就是鑄人之學。”學校認為，素質教育始終是大學教育的永恆主題。大學不僅要重視傳授知識，更要培養健全的人格。為此，澳門科技大學確立了“專業教育與通識教育並重”的辦學理念，始終把通識教育放在重要的位置。“我們不能把現代大學教育狹隘地理解為專業知識和技能的教育。通識教育是對專業教育有效的補充與完善”，並就課程設置問題提出具體見解：“通識教育課程的設立不僅不會影響專業教育的品質，反而會有利於高素質專業人才的成長。”這當然是現代教育的新理念。要說“新”，也不新。早在十九世紀初，美國學者帕卡德（A.S.Paskard）就提出了大學通識教育問題，後來逐步受到東北部八所名牌大學如哈佛、耶魯、哥倫比亞大學、賓夕法尼亞大學等組成的常春藤盟校（Ivy League）的重視。1945 年哈佛大學就明確提出了“民主社會中的通識教育目標問題”，針對所謂“傳統變遷問題”，“現代社會分殊”即多元社會局面下“如何形成共同體”的問題 ，厘清教育應負的責任，尋求大學教育中的對策在於培養“完整的人”。甘陽先生考察中國大學的通識教育發展現狀時認為，美國大學的通識教育制度最值得參考借鑒，因為這種制度對學生高度負責，且有效地達到了“打造精英”這一大學本科的教育目標。而就美國主要大學本科通識教育課程的基本建制而言，通識教育的核心課程往往是大學的風格與精華之所在，是以人文社會科學為絕對重心的，這一點對於理解大學通識教育的目的和意義至關重要，也是為我國大學所特別忽視的[4]。當代中國社會對大學教育的認識存在一些誤區，很多大學有一種專業主義、實用主義乃至唯市場取向的思想，即把大學當成是單純傳授知識或技能的專業培訓場所，使得高等教育在某種程度上淪為職業技術教育，忽視了對學生的全面培養，也放棄了大學作為“社會之模範，文化之中心”在引領社會道德建設與文化建設上的職志。澳门的情况是，從上世紀八十年代初開始起步的
47李開，等 論通識教育是大學語文教學實踐理性的本體參 考 文 獻[1] 許敖敖. 通識教育視野下的大學語文教育——〈大學語文新編〉序.大學文新編. 澳門科技大學出版社，2014[2] 梁漱溟提出以科技、哲學、文藝、修養為認識世界的“四法”，也是受古希臘“四藝”“七藝”影響的產物[3] 吳根友.先秦儒道兩家論“人之為人”與“做人起點”的不同進路.哲學研究，2015[4] 甘陽. 大學通識教育的兩個中心環節. 讀書，2006[5] 許敖敖. 十年磨一劍. 北京：高等教育出版社，2014[6] 李開. 大學語文新編.，澳門：澳門科技大學出版社，2014[7] 王小莘. 大學語文. 澳門：澳門科技大學出版社，2007[8] 澳門科技大學通識教育部語文組.《大學語文新編》教學大綱. 大學語文教學手冊. 2014[9] 徐曉風. 社會心理與人的選擇：人學研究的新論域. 哲學研究. 2015[10] Cf. Jens Allwood, Lara-Gunnar Andersson, östen Dahl. Logic in Linguistics. 西方語言學叢刊（9）. 北京：北京大學出版社，2006[11] 李開.大學語文新編. 澳門：澳門科技大學出版社，2014[12] 王步高. 談“大學語文”教材和教學中的雙超理念.中國大學教學，2009[13] 張燦輝，梁美儀，溫建華. 美國大學通識教育核心課程考察報告. 大學通識報，2008；甘陽.大學通識教育的兩個中心環節.讀書，2006[14] 曹莉. 東亞一流大學通識教育的新趨勢. 中國大學教學，2010[15] 周秀林. 淺談“大學語文”課程的弱化與重構.教育與職業. 2008[16] 楊義. 重讀魯迅[N]. 光明日報. 2015國際交流澳科大國際學院師生暑期赴西班牙學習考察大學國際化是澳門科技大學戰略規劃中的重要組成部分，暑期境外學習成為大學國際化中學生參與的重要平臺之一。澳門科技大學為在校學生提供各種境外交流與學習機會，每年夏季的暑期境外學習是眾多學生的首選。7月，由澳科大國際學院院長孫建榮教授和西班牙語王婷老師帶隊，國際學院19位學生赴西班牙巴塞羅那自治大學（Universitat Autònoma de Barcelona - UAB Barcelona）進行爲期4周的暑期班學習。期間，國際學院院長孫建榮教授與王婷老師先後走訪巴塞羅那自治大學UAB Barcelona（Universitat Autònoma de Barcelona）、UIB（University of Illes Balears）大學、UCLM（University of Castilla La Mancha）大學等西班牙院校，就學術合作、學生交換、實習交流等進行了卓有成效的會談。此次赴西班牙交流是澳科大已連續三年的暑期班項目。澳科大辦“2015澳門論壇”之“世界大學校長論壇” 并與台灣、美國及西班牙三大學簽署合作備忘錄為配合特區政府“人才興澳”發展理念、推動澳門高等教育國際化，由澳門論壇組委會主辦、澳門科技大學承辦的“2015澳門論壇”於11月3日至5日假澳科大隆重舉行。來自本澳、美國、法國、葡萄牙、西班牙、韓國、香港、台灣和內地等世界各地十八所著名高等教育學府的大學校長齊聚澳門，深入探討高等教育多元發展的機遇和挑戰，共瞻亞太高等教育的發展趨勢，共謀高校之間的發展規劃和交流。論壇期間，澳科大分別與亞洲大學、紐約州立石溪大學（Stony Brooks University）及西班牙巴利阿里大學（Universidad de las Islas Baleares）等三間國際知名學府就師生交流交換計劃、合作開展研究課題等交換意見，並共同簽署了合作備忘錄。
48第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 風險社會下澳門有組織犯罪之演變發展與防控對策文立彬（澳門科技大學法學院，澳門）摘要： 澳門有組織犯罪萌芽於鴉片戰爭後，經過一百多年的演變，呈現出牟利性、暴力性和組織性的法律屬性，並且多涉及爭奪賭場利益。隨著風險社會的到來，有組織犯罪者借助科技手段增強了犯罪的隱蔽性和跨域性，進而對刑事防控體系提出了新的挑戰。審視澳門反有組織犯罪刑事法律，存在著立法規劃混亂、罪名重疊和財產刑缺乏的弊端。因此有必要強調《澳門刑法典》的法典地位、優化反有組織犯罪的刑法規制半徑和加強澳門與內地的刑事防控體系構建，以期有效預防和打擊澳門有組織犯罪。關鍵詞： 風險社會理論；有組織犯罪；澳門；防控對策Evolution and Countermeasure of Macau Organized Crime Under The Risk SocietyLibin WEN( Faculty of Law,Macau University of Science and Technology,Macau,China )AAstractt: Macau organized crime began after the opium war, through one hundred years of evolution, have legal attribute such as profit-making, violence and systematization, moreover, the crime always involved for the casino interests. With the advent of the risk society, organized criminals with the aid of technology to enhance the concealment and the cross-border crime, it puts forward new challenge on the criminal control countermeasure. In contrast, there are chaotic legislation plan, overlapping accusation and lacking property punishment in fighting organized crime legislation of Macau. Therefore, it is necessary to emphasize the status code of the Macau Criminal Law, optimize the criminal regulation of against organized crime and strengthen the criminal control system of Macau and the Mainland. Finally, these changes will benefit Macau from preventing and fighting organized crime. eywordst: The Risk Society Theory; Organized Crime; Macau; Countermeasure of Control收稿日期：2015-08-06；修訂日期：2015-09-04。資金項目：澳門科技大學研究基金項目，項目代碼0323* 通訊作者：文立彬，男，澳門科技大學刑法學博士生，主要研究方向：比較刑法學。E-mail: 68216@qq.com，Tel:0086-130777154450 引言有組織犯罪作為一種社會現象，與歷史背景、政治文化及經濟環境關聯密切。澳門有組織犯罪從產生至今已經有一百年多的歷史，研究澳門有組織犯罪從某種程度來說就是研究澳門的發展史。在殖民期間，澳門以葡文作為官方語言，而澳門的華人又占總人口的絕大多數，這就導致不懂葡文的華人在遇到糾紛時，轉而尋求黑社會組織出面解決糾紛。可知澳門有組織犯罪並非只有惡的一面。澳門回歸后，法治建設步入正軌，有組織犯罪者在依託傳統“黃、賭、毒”勢力的基礎上，向合法領域和跨境犯罪發展，這給澳門民眾造成了嚴重的安全威脅和道德侵蝕，因此應當將反有組織犯罪的立法完善納入澳門法治建設的規劃之中。
55文立彬 風險社會下澳門有組織犯罪之演變發展與防控對策在澳門與內地間的往來頻繁，進而有必要加強澳門與內地反有組織犯罪的協調與合作。上述目標的實現，可以從以下三方面逐步推進：首先是確定兩地反有組織犯罪的規制範圍。由於澳門與內地在有組織犯罪的法律概念上規定不同，而兩地都是《聯合國打擊跨國有組織犯罪公約》的締約成員，因此可以該公約為合作基礎，確定兩地反有組織犯罪的具體範圍；其次是建立反跨境有組織犯罪的情報中心，因為及時、准確的情報是兩地警方共同實施打擊有組織犯罪的基礎。一方面跨境有組織犯罪分工明確、隱蔽性強，另一方面兩地不同刑事制度常常導致情報交流的滯後，這間接地促進了跨境有組織犯罪的發展，進而兩地應積極建立以收集和交流有組織犯罪情報為基礎的反有組織犯罪情報中心。最後是成立反跨境有組織犯罪的協作機構，依托情報中心的優勢，兩地通過反跨境有組織犯罪的協作機構協調制定統一的行動計劃、協調個案的合作與處理，以期實現反有組織犯罪刑事追訴的及時和有效。參 考 文 獻[1] 《有組織犯罪法律制度》規定的九個罪名是：黑社會罪、以保護為名的勒索罪、自稱黑社會罪、不當扣留他人證件罪、操縱賣淫罪、在公共場所可處罰的行為罪、聯群的不法賭博罪、易燃或腐蝕性物質或物料罪和違反司法保密罪。[2] 根據《有組織犯罪法》之規定，黑社會的定義以列舉犯罪組織實施行為的方式作出。所謂黑社會，是指為取得不法利益或好處所成立的所有組織，而其存在是以協議、協定或其他途徑表現出來的。[3] 曾祥龍，汪國華 .粵港澳三地警方正式啟動“雷霆15”聯合打擊有組織跨境犯罪專項行動[EB/OL].(2015-06-16)[2015-09-23].http://www.chinadaily.com.cn/micro-reading/dzh/2015-06-16/content_13856545.html.[4] [德]烏爾裏希‧貝克. 世界風險社會[M].吳英姿等譯，南京:南京大學出版社，2004:102.[5] 宋浩波. 犯罪經濟學[M].北京:中國公安大學出版社，2002:75.[6] 莫洪憲. 澳門有組織犯罪研究[M].武漢:武漢大學出版社，2005：23.[7] 趙國強. 澳門刑法研究[M].廣州:廣東人民出版社，2012:174.[8] 趙國強. 澳門刑法研究[M].廣州:廣東人民出版社，2012:34.[9] 構成操縱賣淫罪的，處一至三年徒刑。構成媒淫罪的有兩檔法定刑，第一檔屬於基本刑，處一至五年徒刑，第二檔屬於加重刑，處二至八年徒刑。[10] 根據《有組織犯罪法律制度》的規定，構成黑社會罪的行為主體必須是黑社會，其行為主體要求三人或多人所組成。因此個人組織的犯罪或二人組織實施的犯罪均不滿足黑社會罪的主體要求。根據《有組織犯罪法律制度》第一條第一款第d）的規定，操縱賣淫、淫媒及做未成年人之淫媒，概視為黑社會。[11] 張遠煌. 美國懲治有組織犯罪的法治實踐及其對我國的借鑒與啟示[J].山東警察學院學報，2011(1):19.[12] 趙國強. 澳門刑法概說（犯罪通論）[M].北京:社會科學文獻出版社，2012:51.[13] 《澳門刑法典》總則並沒有規定法人犯罪的概念及相關處罰制度，但不少特別刑法都規定了具體的法人犯罪制度。[14] 趙國玲，於小川. 澳門有組織犯罪研究[J].人民檢察，2011(6):74.科研進展澳科大學者獲“澳門人文社會科學研究優秀成果獎”五獎項由澳門基金會、中國社會科學雜誌社與廣東省社會科學界聯合會合辦的“第四屆澳門人文社會科學研究優秀成果評獎”結果日前揭曉，頒獎典禮於12月14日假澳門科學館隆重舉行。是次大會在中國內地、香港、澳門和台灣四地所提交的293份（著作類94份、論文類199份）合資格著述中，最終評選出著作類和論文類奬項56個。澳門科技大學學者囊括了其中5個獎項。所獲獎項分別為：商學院助理教授鄒文箎和鄭勇的《旅遊需求預測：理論與實證》，獲著作類二等獎；人文藝術學院教授張志慶和副教授汪藍主編的《城市發展中的文化記憶——澳門文化及城市形象研究論文集》，獲著作類三等獎；人文藝術學院副教授孫瑱的《澳門老廣告（1920-1970年代）——視覺分析》，獲著作類優異獎；副教授汪藍的《<利瑪竇像>服飾考》，獲論文類二等獎，商學院副教授田青的”Job Insecurity and Counterproductive Behavior of Casino Dealers- The Mediating Role of Affective Commitment and Moderating Role of Supervisor Support”，獲論文類三等獎。“澳門人文社會科學研究優秀成果評獎”的參選作品涵蓋眾多領域和學科，分為經濟管理、政治法律新聞社會學、歷史哲學文學、語言教育藝術四個學科組，受到澳門學界以及海內外研究澳門的學者廣泛關注和重視。
56第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 銀行服務系統的評估與建議 ——以澳門某商業銀行為例李 新，卜慧美*，李 誼，何錦明（澳門科技大學商學院，澳門）摘要： 為了優化銀行的服務水準，本研究選取澳門某商業銀行為研究對象，對其服務情況進行實地考察。應用搜集到的資料，本研究首先用排隊論計算顧客的總等待時間、平均排隊時間，資源利用率（設備繁忙數）。其次，建立Arena模擬模型，類比真實的銀行服務系統，模擬出最優銀行服務系統。然後，將其結果與排隊論的理論值進行對比分析。最終，根據最優的模擬結果，本研究對相應的銀行分行提出合理的建議,從而提高銀行的服務水準。關鍵詞： 排隊論；Arena模擬模型；銀行服務系統Evaluation and Suggestions to Banking Service Systemt: A Case Study of a Commercial Bank in MacauXin LI, Huimei BU, Yi LI, Jinming HE( School of Business, Macau University of Science and Technology, Macau, China )AAstractt: In order to optimize bank’s service level, this research make a field survey about a commercial bank in Macau. We study its present situation. Using data collected from the survey, firstly, this research calculates customer’s total wait time, average queuing time and resource utility based on “queuing theory. Secondly, this research sets up a module in Arena simulation software to simulate banking service system and conclude an optimal service state. Then, this research compares the above results with the result calculated based on “queuing theory”. Finally, this results give some advice to the bank based on the optimal module, so as to improve service quality of the bank.eywordst: Queuing theory; Arena simulation software; Banking service system收稿日期：2015-04-13；修訂日期：2015-06-05。*通訊作者：卜慧美， 女，博士，助理教授，主要研究方向：服務管理、消費者滿意度。 E-mail: hmbu@must.edu.mo, Tel:00853-889722460 引言 自澳門特別行政區成立和賭權開放以來，經濟迅速發展，這使得本地居民與外來遊客的消費水準顯著提高。旅遊業和博彩業帶來的經濟增長力正影響著周邊經濟產業，尤其促進了澳門銀行業的發展，使其盈利狀況由 1999 年逐年回升。隨著澳門客流量的不斷增加，澳門的銀行將如何優化銀行服務系統視為管理中的重中之重。銀行服務系統是由服務人員和顧客構成的，包括顧客開始排隊或叫號到開始業務辦理的整個流程。當在某個時刻，銀行需要服務的人數超過服務機構此時可以服務的最大人數，並無法滿足所有人在同一時刻接受服務，導致人們需要排隊等候的現象叫做排隊現象。在銀行服務系統中，
68第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 中國房地產價格與空氣污染指數關係的研究 ——基於環境庫茲涅茨曲線的實證分析李婉君 ，宋 宇* ，陳頌泓（澳門科技大學商學院，澳門）摘要： 近年來，隨著人們對可持續發展問題的關注與對居住環境要求的提升，空氣質量已成為國民選擇居住地的重要因素。為全面改善我國人民居住環境，提高人們環保意識，本文以空氣污染作為研究出發點，在當前中國經濟持續穩定發展的經濟背景下，基於環境庫茲涅茨曲線對中國房地產價格與空氣污染指數關係作了系統研究。通過實證研究分析，本文發現中國總體範圍和西部地區房地產價格隨空氣污染程度增大呈線性上升趨勢，而中國東部地區和中部地區房地產價格與空氣污染卻呈現出更為理想的倒N型關係。另外，通過研究結果，本文提出適當調整產業結構、加強環境保護宣傳力度、完善環保法律法規三個有助於提升我國空氣質量，改善人民生活環境的政策建議。關鍵詞： 面板數據；環境庫茲涅茨曲線；固定效應模型；房地產價格The Empirical Analysis of the Relationship Between Chinese Real Estate Prices and Air Pollution Indext: Based on Environmental uznets CurveWanjun LI, Yu SONG, Songhong CHEN( School of Business, Macau University of Science and Technology, Macau, China )AAstractt: In recent years, as people focus more on sustainable development, with the improving requirement of the living condition, air quality has become a very important factor for people to choose where to live. In order to ameliorate the living condition in China, and to improve the environmental protection consciousness of people, air pollution is taken as the starting point of this research. Under the background of sustained economic growth of China, environmental kuznets curve is used to explore the relationship of Chinese real estate price and air pollution index. Through the empirical study, it is found that the real estate price data of the overall Chinese area and the western area rose linearly with the increasing of air pollution index. While the real estate price data of Chinese eastern and middle areas are presented inverted N shape relation with air pollution index. By analyzing the empirical study results, this article provide three recommendations to help improve air quality, and ameliorate the living condition of China. First, adjust the industrial structure properly. Second, strengthen environmental protection propaganda. Third, improve the environmental laws and regulations. eywordst: Panel Data; Environmental Kuznets Curve; Fixed Effects Model; Real Estate Price收稿日期：2015-04-15；修訂日期：2015-06-20。本研究受澳門基金會項目0398g支持。﹡通訊作者：宋宇，男，博士，澳門科技大學商學院副教授，主要研究方向：房地產經濟學。 E-mail: ysong@must.edu.mo，Tel: 00853-88972350
70近些年來，我國學者基於環境庫茲涅茨曲線這一理論的提出也做了相關研究。李達，王春曉[17]運用我國 30 個省的面板數據，採用環境庫茲涅茨對數三次函數模型對大氣污染物與經濟增長關係作了實證研究，並提出我國二氧化硫排放與經濟增長之間呈倒 N 型曲線關係。他們運用 EKC 模型的對數三次函數形式，用面板數據模型對造成我國空氣污染的二氧化硫排放量與人均 GDP 之間關係做了具體研究。王良健等[12]也運用環境庫茲涅茨對數三次函數對我國東部地區 11 個省份面板數據的工業三廢密度與人均 GDP 關係做了實證分析。他們指出，大量實證研究結果表明，環境污染指標與經濟增長指標之間除呈現倒 U 型關係，還可能存在同步關係、正 U 型關係和 N 型關係。他們也運用 EKC模型的對數三次函數形式，用面板數據模型對我國東部地區氣體、固體、液體污染物與人均 GDP關係做了具體研究，並認為收入與環境資源的二次或三次方程回歸模型，對數模型是標準的 EKC回歸模型。劉曉偉[30]運用標準三次型環境庫茲涅茨曲線，通過時間序列單位根檢驗、建模、Granger 因果檢驗一系列過程對上海市經濟增長與環境污染關係作了實證研究，分析了上海市人均 GDP 與工業 SO2 排放量的曲線關係。李楠[17]也選用時間序列，採用協整方法建立誤差修正模型，對中國和歐盟的二氧化碳排放量與 GDP 總量間環境庫茲涅茨曲線進行對比，並提出了中國的不足及產生原因與政策建議。他們運用時間序列 EKC 模型，分別研究了對空氣造成污染的 SO2 和 CO2 與經濟的關係。從以上學者們的研究發現，對環境庫茲涅茨曲線的研究既可以運用單個地區的時間序列數據也可以運用整個區域的面板數據。但在研究環境庫茲涅茨曲線時，學者們均選用代表經濟增長的GDP 或人均 GDP 作為衡量指標，來研究其與環境污染的關係。到目前為止，還未有學者運用其他經濟相關變數作為研究指標。但隨著人們對居住環境要求的提升，環境污染已潛移默化對房地產業造成影響。因此，作為與國民經濟密切相關的房地產業，自然也有運用環境庫茲涅茨曲線進行研究的價值。以房地產與空氣污染作為新的研究環境庫茲涅茨曲線的方向，將彌補先前學者們的不足。1.2 房地產與環境的相關研究國外關於房地產與環境之間關係的研究起步較早。Harrison et al[4]運用特徵價格模型（Hedonic）研究了空氣質量對高收入區域房地產價值的影響。並得出空氣質量每提升 1%，高收入區域房地產價值將提高 28.7% 的結論。這在一定程度上說明了人民生活水平提高後，對居住地環境的要求會相應提升。Dalaney et al[2] 運用問卷調查法（Question-naire）研究了噪音對房地產價值的影響，並提出噪音與房地產價值呈顯著負相關。噪音是居住環境的一項污染指標，Dalaney et al 這一研究結論，說明了人們對環境較差的區域居住意向較低。Colby et al[1]，Wolf[9] 也運用特徵價格模型（Hedonic）分別研究了水源質量和城市綠化率對房地產價值的影響，並都得出與房地產價值顯著正相關的結論。他們都是運用一項與居住地相關的環境指標，來研究其與房地產價值的關係，對房地產與環境關係的研究領域進行了指標補充。國內關於房地產與環境之間關係的研究起步較晚，但近些年來也有相應的研究。丁輝 等 [11] 站在房地產開發的角度，運用問卷調查法研究了噪聲與我國房地產價值的相關性，提出入住後購房者的心理價格與噪聲成反比，並建議開發商在給房屋定价时將噪聲考慮在內。盧炎秋等[31]也站在房地產開發的角度進行了研究，提出了房地產在開發建設過程中產生空氣污染問題的原因，並提出了相應政策建議。蔣莉等[26]提出房地產在設計、開發、施工過程中引發的空氣污染等環境污染問題日益受到關注，因此提出綠色經營房地產業。譚榮等[32]運用特徵價格模型（Hedonic）研究了環境質量對南京月牙湖周邊房地產價格的
71李婉君，等 中國房地產價格與空氣污染指數關係的研究 ——基於環境庫茲涅茨曲線的實證分析影響。研究得出，環境質量每提高 1 分，樓盤價格上升 90.43 元。王翼等 [13] 也運用特徵價格模型（Hedonic）研究了環境質量因素對成都沙河周邊房地產價格的影響。研究得出，環境質量每提高 1分，樓盤價格上升 198.15 元。他們選取了中國特定城市，對環境質量與房地產關係做了研究，發現中國環境質量對房地產價格的影響正隨著人們生活水平的提高不斷增大，這對後人的研究有一定啟發。Siqi Zheng et al[10] 運用特徵價格模型（He-donic）研究了中國 85 個城市的房地產價格與空氣污染之間的關係。他們通過研究發現輸入型污染的減少有利於提升當地房價。與其他學者研究不同的是，他們在 Hedonic 模型中引入了相邻城市空氣污染作為影響本地空氣污染的一種指標。金雪[20]在對中國房地產與碳排放相關性研究中，則運用了時間序列 VAR 模型，協整，Granger因果檢驗等一系列時間序列計量方法研究了中國二氧化碳排放量與房地產業增加值的關係，證明了房地產業發展與二氧化碳排放之間存在正向顯著的穩健關係。他選用二氧化碳排放量這一影響空氣質量的指標，運用時間序列數據進行了研究，並得出顯著結論，這為本文關於空氣污染與房地產價格關係的研究提供了可行性。通過閱讀國內外相關研究的文獻，發現專門研究房地產與空氣污染關係的文獻較少，有些學者研究了房地產建設開發過程中的環境污染問題，並提出房地產開發過程中節能減排的建議措施。多數學者是研究房地產與環境污染，或其他細化環境指標之間的關係，順帶會提及空氣污染指標。所以針對空氣污染指標做具體研究，將是一個進步。另外，這些研究雖選取了不同的環境指標，但都局限於運用特徵價格模型（Hedonic）或問卷調查法（Questionnaire）這類截面分析方法進行研究，難以發現房地產與環境的關係隨時間的變化趨勢。金雪[20]運用時間序列的研究雖是對前人基於截面進行研究基礎上的一個進步，但僅採用協整、Granger 因果檢驗等一系列標準計量方法，仍沒有運用具體針對房地產與環境的特定模型，所以採用環境庫茲涅茨曲線（EKC）進行研究，將是對前人研究的延伸。2 研究方法1995 年， 美 國 環 境 學 家 Grossman and Krueger[3] 運用三次函數面板數據模型對全球環境監測系統（GEMS）裏的 42 個國家主要城市，基於空氣污染和水污染的相關環境污染指標與人均 GDP 的相關關係進行了研究，併發現大多數污染指標與經濟增長之間的“倒 U 型”關係。這是最早關於環境庫茲涅茨曲線的研究。1997年，Panayotou[8] 對 借 鑒“ 倒 U 型 ” 的 KC， 將Grossman 和 Krueger 的研究做了總結，並提出專門針對環境污染與經濟發展關係的 EKC 模型。王良健 等 [12] 指出，EKC 有 3 種基本函數形式：二次函數型、三次函數型、三次函數對數型。即後來的研究者在運用 EKC 模型時嘗採取這三種形式。本文借鑒前人關於經濟增長與環境污染間關係的 EKC 模型，將其引申到房地產市場，選用環境庫茲涅茨曲線的三次函數簡化式作為反映中國房地產價格與空氣污染指數關係的模型，並採用面板數據進行研究。用以發掘中國房地產價格與空氣污染指數間的動態變化趨勢。為方便說明，本文將此引申模型稱為房地產 EKC 模型。模型形式如下： （1）（i =1，2，…，N，t =1，2，…，T）HPIit 代表第 i 個省在第 t 個月的房地產價格指標；APIit 代表第 i 個省在第 t 個月的空氣污染指標；β0 代表模型的截距項；CPIit 代表第 i 個省第 t 個月的居民消費水平指標；GDPit 代表第 i 個省第 t 個月的經濟發展水平指標；ln（Incomeit）代表第 i 個省第 t 個月的房地產需求指標（下文將解釋為何此項為對數項）；Investit 代表第 i 個省第 t 個月的房
78染程度增大呈線性上升趨勢。相比生活更加完善的東部與中部地區，西部地區的經濟及技術較為落後。所以要提高人們的生活水平，只有大力發展經濟。而這又一定程度促進空氣質量的惡化，造成上文描述性統計和趨勢圖展現的西部地區平均 API 及極端天數高於中東部地區的局面。此外，多數工薪階層的收入水平也並未隨經濟的發展而上升，難以購買房屋的人們仍需首先解決自住需求，再考慮居住環境的空氣質量，促進西部地區房地產價格的上升。這就使西部地區房地產價格與空氣污染也呈現出線性正相關的局面。值得一提的是，西部地區房地產價格與空氣污染的擬合係數相對其他地區不夠顯著，這也說明由於人民生活水平的落後，還未達到要求提高居住環境的程度。2）中部與東部地區模型結果分析與解釋Siqi Zheng et al[10] 提出，當居民越富有且教育水平越高時，空氣污染的加重會對當地房價有更大影響。根據公式（3）、（4）和圖 10，本文發現在中國東部地區和中部地區，房地產價格與空氣污染呈現出較為理想的倒 N 型關係，即先下降，再上升，又下降的發展趨勢。中東部地區經濟發展較快，特別是一些一線城市如北京、上海、廣州，以及中心省會城市，如武漢、長沙。人們生活的基礎配套設施相對較好，生活水平更高，對居住地環境的要求也自然更高。因此在經濟增長導致空氣污染加重的情況下，人們考慮到居住環境的惡化，對投資或自住性購房會慎重考慮，帶動房地產價格的下降。而接下來房地產價格的上升階段與全國及西部地區情況類似。然而隨著中東部地區經濟的進一步增長，空氣質量的進一步惡化引起人們的注意。同時，國務院為避免房地產過熱出臺的《國務院關於堅決遏制部分城市房價過快上漲的通知》（即“限購令”），導致中東部地區房地產價格又呈下降趨勢。但相比之下，東部地區固定效應 EKC 模型擬合程度 59.5% 要高於中部地區的 18.7%，說明東部地區人們對空氣質量更為關注。3）控制變量結果分析通過表 6 的模型結果發現，全國、東部地區、中部地區、西部地區四個控制變量指標 CPIit、GDPit、ln（Incomeit）和 Investit 的係數擬合符號方向均一致，這也說明了我國不同地區受宏觀經濟政策和住房制度改革的影響基本同步。其中，CPIit、GDPit、Investit 對房地產價格的影響為正，ln（Incomeit）對房地產價格的影響為負。這說明居民消費價格指數、地方生產總值指數、房地產投資增長率的增加會促進房地產價格的上升，城鎮居民人均可支配收入的增加則會抑制房地產價格的上升。房地產投資作為衡量房地產供給的指標，與房地產價格的預測關係為負，這卻與實際結果相悖。基於上文提到的房地產開發投資受到政策的影響很大，往往反映國家政策上的支持，所以通常能與房地產業發展相協調。可能是這一原因導致此項指標的係數為正。居民人均可支配收入作為衡量房地產需求的指標，與房地產價格的預測關係為正，這也與實際結果相悖。基於上文提到的房價收入比達到一定倍數，住房才能正常消費，所得結果可能說明中國人均可支配收入還未達到能對住房正常消費的水平。另一方面，可能說明 2010 年國務院出臺的“限購令”起到了抑制人們對房地產投資需求的作用。可能是這兩方面原因導致此項指標係數為負。5 結論及政策建議5.1 結論為研究中國房地產價格與空氣污染指數的關係，以更好地提升中國人民居住環境。本文在當前中國經濟持續穩定發展的經濟背景下，總結國內外學者研究成果，結合我國實際情況，選取2006 年 01 月到 2012 年 12 月中國 30 個省份面板數據，利用冗餘 F 檢驗、Hausman 檢驗和固定效應房地產 EKC 模型對全國範圍、東部地區、中部地區、西部地區房地產價格與空氣污染指數關係
79李婉君，等 中國房地產價格與空氣污染指數關係的研究 ——基於環境庫茲涅茨曲線的實證分析作了系統研究。結論如下：第一，通過描述性統計可以直觀的看出，作為自變量的空氣污染指數在全國、東部、中部、西部地區均達不到國家空氣質量日均值的一級標準，最大值甚至達到 500ug/m3，這在一定程度上反映了空氣污染正逐漸影響著人們的居住環境，也說明了對其進行研究的必要性。第二，通過建立固定效應房地產 EKC 模型，本文發現作為自變量的空氣污染指數與房地產價格指數的擬合系數均顯著，但西部地區僅能在10% 顯著性水平下顯著，這可能是數據有限導致的，我們將在後續的研究中加以完善。模型擬合系數的顯著說明空氣污染正潛移默化影響著中國房地產市場。並且中國總體範圍和西部地區房地產價格隨空氣污染程度增大呈線性上升趨勢，而中國東部地區和中部地區房地產價格與空氣污染指數呈倒 N 型關係。第三，由於我國多數工薪階層工資水平較低，我國房地產價格與居民可支配收入可能未達到良好的房價收入比，所以即使人們對空氣污染問題日益關注，也不得不先滿足最重要的自住需求，尤其是在外打拼的年輕人。所以在現階段的中國，空氣污染程度僅能一定程度影響人們的購房意願，卻無法起決定性作用。5.2 政策建議Grossman and Krueger [3] 提出，人類的經濟活動是造成環境污染的最主要因素，包括工業化進程的推進和國內燃料的焚燒。而這種污染要在經濟發展到一定程度，新型環保技術替代傳統高能耗技術，以及人們環保意識的提升才能得以減弱。在全國範圍人均 API 達不到國家空氣質量日均值一級標準的前提下，提高人民的 環保意識，加快房地產業節能減排步伐，才是全面改善人民生活環境的重中之重。為此，本文提出以下政策建議：5.2.1 適當調整房地產開發結構首先，房地產開發過程集聚了大量高能耗行業，比如房地產施工企業。這些企業應積極思索企業轉型，通過新技術或新能源的運用，達到節能減排的目的。其次，通過產業內部的優勝劣汰競爭機制，用生產率更高、技術更優的先進生產對高污染、高能耗的落後生產模式進行淘汰，以達到降低環境污染的目的。最後，積極發展房地產業內的循環經濟，加快低耗能、無污染的生產技術的研發與推進，更好地提升我國人民居住環境。5.2.2 加強環境保護宣傳力度首先，各媒體單位可加強對新聞媒體人關於空氣污染的科普宣傳，加深他們對空氣污染嚴重性的認識。其次，國家應鼓勵新聞媒體對環境保護的宣傳工作，並提醒人們環境資源的珍貴。最後，各社區及居委會可定期為人們開展環保知識普及的講座，使人們潛移默化環境保護，從我做起的意識。5.2.3 完善環保法律法規首先，應明確立法宗旨，不僅要確立保護環境，讓經濟與社會協調發展，也要保證可持續發展，以保障群眾的健康。其次，在現階段，應將環境保護與經濟發展相協調，並以環境保護優先，替代過去的發展優先策略。再次，可一定程度提高排污收費標準，促使企業節污減排。最後，加強環境保護部門的監管力度，重點監控主要污染行業，並明確地方政府對轄區內環境質量的明確責任，以促進地方政府對轄區環境實施保護措施。通過以上政策的提升與改革，將一定程度提升我國人民環境保護意識，達到全面改善我國空氣質量和人民居住環境的目的。參 考 文 獻[1] Colby B,Wishart S.Riparian areas generate property value premium for landowners[D].University of Arizona:College of Agriculture and Life Sciences,2002.[2] Delaney C J,Timmons D.High voltage power lines:do they affect residential property value?.Journal of Real Estate Research,1992,7(3):315-329.[3] Grossman G M,Krueger A B.Economic growth and the environment.The Quarterly Journal of Economics,1995,110(2):353-377.[4] David H, Rubinfeld D L.The air pollution and property value debate:some empirical evidence.The Review of Economics and
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82第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 中國設備製造業研發投資對財務業績的影響： 採用二階段回歸法張靜華1*，易宇揚2（1. 澳門科技大學商學院，澳門; 2. 中國進出口銀行湖北省分行，武汉）摘要： 設備製造業企業的發展對經濟發展至關重要。本研究以中國設備製造業深滬兩市112家上市公司為研究對象，取2008年～2012年的平衡面板數據為樣本，採用二階段最小二乘法來估計分析研發投資對企業財務業績的關聯和影響。結果表明，中國製造業企業研發投入強度的增加對其盈利性指標有顯著的正面影響，同時，企業的研發投資對其財務業績有較強的滯後性影響，但對企業的發展能力卻沒有明顯的影響。關鍵詞： 研發；設備製造業；財務業績；二階段最小二乘法Impacts of R&D Investment on Financial Performance of China Equipment Manufacturing Industryt: Using 2SLS MethodJinghua ZHANG1*,Yuyang YI2( 1. School of Business, Macau University of Science and Technology, Macao, China ) ( 2.The Export-Import Bank of China, Hubei Branch, Wuhan, China )AAstractt: The equipment manufacturing industry plays a key role in the economy development. Using a balanced panel data of 112 listed firms during 2008-2012, this study applies Two-Stage Least Square(2SLS) method to analyze the relationship between R&D investments and financial performance of equipment manufacturing industry in China. The results suggest that the R&D intensity of China equipment manufacturing firms on average has significant positive impacts on firms’ profitability. MeanwhileR&D investment has significant lagged impacts on a firm’s financial performance, but no significant impacts on a firm’s development ability.eywordst: R&D; Equipment manufacturing industry; Financial performance; 2SLS method收稿日期：2015-04-16；修訂日期：2015-06-16。﹡通訊作者：張靜華，女，經濟學博士，助理教授，主要研究方向：財務管理、醫療金融管理和政策分析。 E-mail：jhuzhang@must.edu.mo，Tel：00853-889729860 緒論設備製造業，也稱為裝備製造業，是為滿足國民經濟各部門發展和國家安全需要而製造各種技術裝備的產業總稱。按照國民經濟行業分類，其產品範圍包括機械、電子和兵器工業中的投資類製成品，分屬於金屬製品業、通用裝備製造業、專用設備製造業、交通運輸設備製造業、電器裝備及器材製造業、電子及通信設備製造業、儀器儀表及文化辦公用裝備製造業 7 個大類 185 個小類（中華人民共和國國家統計局，2014）[1]。作為“生產機器的機器製造業”，裝備製造業在國民經濟中具有核心地位，其行業具有資本密集度高、技術密集度高、勞動投入高等三大行業特性（沈靚，2012）[2]。
83張靜華，等 中國設備製造業研發投資對財務業績的影響： 採用二階段回歸法研究與開發，即 research and development，簡稱研發。按照聯合國經濟合作與發展組織（OECD）的科學與技術統計指標定義，研發是利用人類社會發展過程中已存在的知識設計新的應用品及擴展人類知識儲備的創造性活動（OECD，2003）[3]。研發已經成為評價一個國家、企業和研究機構科學技術發展水準和研究能力的重要參數之一，也是各國政府以及企業和機構在制定產業和科技政策時的重要依據。自 2000年以來，中國研發經費投入逐年增長，截止至 2011 年，年均增長了 23.5%。2011 年中國研發經費支出 8687 億元，是 2000 年中國研發經費支出的 9.7 倍（中華人民共和國科學技術部，2012）[4]。中國落後的設備製造業是產業結構升級的主要制約因素，使用先進設備改造傳統產業是實現產業結構調整升級的根本手段，其技術水準不僅決定了各產業企業的生產效率和企業績效，更決定了中國與世界其他發達國家的競爭力的高低（朱高峰，2003）[5]。在實際企業生產活動過程中，往往由於研發活動的不確定性或者研發經費投入沒有用在合適的地方，使得投入和產出之間可能存在差距，並沒有達到預想的結果。爲了使中國的設備製造業能持續增長，企業、政府和社會各界都需要瞭解研發投資對企業發展的影響和研發投資與企業財務業績的關係。國內外現有研究文獻中雖然有大量關於研發投入與財務業績間顯著的正向關係的報導（Griliches，1986；Los and Verspagen，2000；Hsieh et al.，2003；Kulatunga et al.，2007）[6~9]，但是對於特定行業仍然存在一定的爭議（Cohen，2010；遊春，2010）[10~11]，尤其是研發投入能夠給中國的設備製造業企業帶來多大的經濟效益 ? 在何種程度上存在滯後性效應 ? 現有文獻中尚未專項研究。本研究採用二階段最小二乘法（Two Stages Least Square. 2SLS）（Theil，1953）[12] 來分析中國設備製造業企業研發投資與財務業績的關係，能夠解決變量的內生性和滯後性問題，從而期望為我國設備製造業企業的研究開發投入評估提供更準確的實證依據。本研究以中國設備製造業深滬兩市 112 家上市公司為研究對象，取其 2008 年～ 2012 年的財務及研發投資的平衡面板數據為樣本，採用了二階段最小二乘法來估計模型，分析了研發投資對企業財務業績的影響。本研究的結果有利於對中國設備製造業研發投入所帶來的經濟效益有一個定量且全面的認識，這對促進我國設備製造業企業推動開展研發活動，提高研發業績和經濟效益等有積極的現實意義。本論文第一部分是文獻綜述，回顧了國內外學者對研發投入決定因素和與企業財務業績的相關關係的研究結果，並在此基礎上提出本研究的主要研究假設。第二部分是關於數據來源和研究樣本的選取原則，第三部分介紹本研究使用的基本實證模型和採用的主要變量。第四部分介紹實證分析及其結果，並對各項回歸結果進行討論。最後部分對實證研究結果進行總結，並對研究局限性以及將來的研究方向進行簡單討論。1 理論框架和文獻回顧1.1 企業創新和成長理論Schumpeter（1934）[13] 的創新和成長理論奠定了現代企業研究發展和創新活動的基礎模型，是創新和成長理論的主流派理論。該理論主要包含兩個方面的基本假說。1）企業 R&D 活動同企業規模存在正向相關，而且是 U 型的非線性關係。 2）企業 R&D 活動隨著市場集中度的提升而增加（Cohen and Levin，2010；Aghion et al.，2015）[10, 14]。現有大量的文獻研究企業規模同企業研發投入的關係。企業規模之所以能對企業的研發投入產生正向的影響具有多方面的原因。一方面是因為大規模企業易於形成規模效應，降低研發成本，同時易於高效率地大規模推廣新產品（Fisher andTemin，1973）[15]。另一方面，大規模的企業通常能有足夠的內部資金為研發活動帶來源源不斷的供給，而中小企業容易受到融資限制，很難為回報不確定的研發活動進行投資（Cohen et
84al.，2010）[10]。近三十年來，創新和成長理論的非主流派理論也日益受到更多的重視。Schmookler（1962）[16]提出市場需求才是創新的最基本的動力。該理論認為常識性的技術和知識廣泛地為各個產業的企業家所擁有，不過快速發展的大市場才為技術創新提供了投資的原動力，因為這些市場可以給創新投資提供較高的投資回報（Barge-Gil and Lopez，2014）[17]。經典的創新和成長理論研究都是以發達國家的經濟爲研究對象，而近十年來新型國家和市場的技術創新和研發活動日益獲得關注（Yang et al.，2012）[18]。新型國家和市場的技術發展更多看重技術趕超，在經濟全球化的背景下，國際直接投資常常同技術轉移結合在一起，技術外溢效應理論也得以迅速發展（Cassiman and Veugelers，2002;Choi and Williams，2014）[19~20]。 技 術 外 溢效應是指企業的技術創新不僅是通過內部的研發活動和知識創造而產生，同時是從多種外部管道來進行獲取，進而對企業的成長和財務業績帶來積 極 影 響（Los and Verspagen，2000；Choi and Williams，2014）[7, 20]。1.2 關於研發投資同財務業績關係的實證研究一直以來，企業的研發投資與財務業績的關係都是國內外學者的研究所關注的焦點，但兩者的關係仍然沒有一個統一的結論（Cohen，2010）[10]。總的看來可以分為兩個論派：積極影響論和無影響論。1.2.1 企業研發投資對財務業績有顯著影響（1）製造業企業。製造業企業的研發投資與其財務業績之間的關係被世界各國許多學者所廣泛研究，特別是早期的文獻較多研究該領域。Griliches（1986）[6] 用柯布 - 道格拉斯生產函數檢測了 1957 年～ 1977 年大約 1000 家美國最大的製造公司的研發投入對生產力的影響，發現研發投入對美國企業的生產力和財務業績有顯著的正向影響。Chauvin andHirschey（1993）[21] 通過研究美國 1988 年到 1990 年期間製造業和非製造業企業財務資料，發現研發支出對公司的市場價值有顯著的正相關影響。Los andVerspagen（2000）[7] 將美國製造業企業做為研究樣本，選擇銷售收入總額、有形資產和科技的投入程度為研究指標，結果表明雖然在程度上存在差異，但是研發投入能普遍地提高企業生產力水準。Hsieh et al.（2003）[8] 以美國 1975~1996 年化學和醫藥業的企業為研究對象，以淨利潤總額、營運收入總額、銷售增長額和托賓 Q 值為被解釋變量，以研發投入和固定資產作為主要的解釋變量進行多元回歸檢驗。研究結果表明企業的研發投入對企業的財務業績有顯著的正向影響，並且企業從研發投入的獲得的利潤比從進行固定資產投資的獲得的利潤更大。最近的研究中，Bianchini，et al.,（2014） [22] 發現在創新性的機械和設備方面以及產品創新方面進行的 R ＆ D 活動同隨後的銷售增長顯著地有正向相關的關係，該效應對於成長速度位於前端的高速成長企業尤其明顯，而對於流程革新則沒有顯著關聯。我國製造行業企業研發投資影響的文獻較少，羅卡明（2006）[23] 發現研發投入強度較高的製造行業企業通常資產負債率較低，並推測可能因為企業擔心較高的資金成本會帶來利息負擔以及其較高的破產風險等不利影響。（2）高新技術產業企業。由於高新技術產業企業是技術研發和應用最活躍的企業群體，但是也面臨著極大的研發成果的不確定性。 Lee and Shim（1995）[24] 採用日本和美國的 143 家高科技技術企業為數據樣本進行實證研究，結果發現企業的研發投入和企業市場價值的增長呈顯著正相關關係。Lev andSougiannis（1996）[25] 採用經常進行研發投入活動的高新技術產業上市公司為樣本，研究結果表明有條件的資本化後的研發支出與企業的股市價值和回報有強烈的正向相關關係。Kulatunga et al.（2007）[9] 對英國建築業的研發支出費用做了業績評價研究。他們詳細探討了英國建築業研發支出費用的範圍劃定和理論基礎及範圍，並在此基礎上一致肯定了建築業企業研發投
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94[43] Gonzales, M. D. (2013). Empirical determinants and patterns of research and development investment in asia. Asian Development Bank Economics Working Paper Series, (364)[44] Ou, C. S., Yen, D. C., & Hung, C. (2009). Determinants of information technology investments: The case of ATM in an emerging economy. Advances in Accounting, 25(2), 278-283.[45] Hung, C. S., Yen, D. C., &Ou, C. S. (2012). An empirical study of the relationship between a self-service technology investment and firm financial performance. Journal of Engineering and Technology Management, 29(1), 62-70.[46] Revilla, A. J., &Fernández, Z. (2012). The relation between firm size and R&D productivity in different technological regimes. Technovation, 32(11), 609-623.[47] Soete, L. L. G. (1979). Firm size and inventive activity: The evidence reconsidered. European Economic Review, 12, 319-340.[48] 王任飛.（2005）. 企業R&D支出的內部影響因素研究——基於中國電子資訊百強企業之實證.科學學研究，（02）[49] 徐俠，陳圻，鄭兵雲.（2008）. 高技術產業R&D支出的影響因素研究.科學學研究，（02）[50] Czarnitzki, D., &Hottenrott, H. (2011). R&D investment and financing constraints of small and medium-sized firms. Small Business Economics, 36(1), 65-83.[51] Brown, J. R., Martinsson, G., & Petersen, B. C. (2012). Do financing constraints matter for R&D? European Economic Review, 56(8), 1512-1529.[52] Bronzini, Raffaello, and EleonoraIachini. 2014. "Are Incentives for R&D Effective? Evidence from a Regression Discontinuity Approach." American Economic Journal: Economic Policy, 6(4): 100-134..[53] 劉斌，岑露.（2004）. 中國上市公司R&D費用的契約動因研究——來自滬深兩市2002年～2003年報的經驗證據.經濟管理，（22）[54] Harmantzis, F., and Tanguturi, V. P. (2005).Key determinants of R&D expenditures in the US Telecommunications equipment industry.[55] Cefis, E., &Orsenigo, L. (2001). The persistence of innovative activities: A cross-countries and cross-sectors comparative analysis. Research Policy, 30(7), 1139-1158.大學建設科大醫院臨床化驗診斷中心續取國際認證科大醫院臨床化驗診斷中心於9月21日通過NATA及RCPA現場考核，連續第四次獲得ISO：15189國際認證，繼續成為全澳唯一獲得國際認證的醫學臨床檢驗室。這次認證除了包括原來化學病理學檢驗服務外，還首次增添了血液學、病毒感染血清學、血庫及輸血服務，全面獲得NATA及RCPA的高度讚揚及通過認證。NATA（National Association of Testing Authorities，Australia; 澳大利亞國家檢驗機構協會）是全球最大的權威實驗室認證協會之一。它是澳洲政府核准，專為檢驗室與檢驗設備業提供認證的機構。RCPA（The Royal College of Pathologists of Australasia，澳大利亞皇家病理學專科學院）與NATA聯合發出的認證，彰顯認證的醫學檢驗室具備高度專業及技術水平。澳科大建校十五周年頒授中科院陳竺院士榮譽博士學位適逢澳門科技大學建校十五周年和澳科大舉辦首屆世界醫學峰會之際，7月8日假大學禮堂隆重舉行了陳竺院士榮譽博士學位頒授典禮暨學術研討會。校監廖澤雲博士向全國人大副委員長、中華醫學會會長陳竺院士頒授了榮譽博士學位，使澳科大建校十五周年和舉辦首屆世界醫學峰會光彩倍增。陳竺院士是世界著名的血液學和分子生物學專家，榮獲中國科學院院士、第三世界科學院院士、美國科學院外籍院士、法國科學院外籍院士、英國皇家學會外籍院士和英國醫學科學院榮譽院士等多種國內外學術榮銜。陳竺院士在人類白血病的研究和臨床治療方面取得了舉世矚目的突破性成就。頒授典禮圓滿結束後，學術研討會隨即展開。澳科大榮譽博士陳竺院士為嘉賓及澳科大師生們進行了題為“從治療急性早幼粒細胞白血病到精準醫學”的精彩學術演講，並與澳科大師生交流，氣氛熱烈和融洽。
95第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 利率與銀行風險承擔: 以中國上市銀行為例朱順和*，楊文捷，陳 怡（澳門科技大學商學院，澳門）摘要： 近年來中國人民銀行逐步採取深化金融市場的利率市場化改革，開放金融市場自主經營，更有利於國家經濟穩定發展。本研究以銀行股價數據為基礎，運用資本資產定價模型及Z-score模型來衡量銀行風險承擔，並採用宏觀數據及16家上市銀行的2008～2014年數據，進行實證分析利率是如何影響銀行風險承擔研究，並比較分析上市國有商業銀行與上市股份制銀行及城市商業銀行的差異。本研究運用不平衡面板數據模型進行實證分析，獲致結論: 1.利率對銀行風險承擔確實存在影響。其中，短期利率與銀行風險承擔有負向關係；長期利率與銀行風險承擔有正向關係；2.相較於股份制及城市商業銀行，國有商業銀行與銀行風險承擔存在負向關係。關鍵詞： 利率；銀行風險承擔；總風險；系統風險；特有風險Interest Rate and Bank Risk-takingt: Evidence from Chinese Listed Banks Shun-Ho CHU* ,Wenjie YANG, Yi CHEN( Macau University of Science and Technology, School of Business, Macau, China )AAstractt: Over the recent years, People’s Bank of China has gradually taken the deepening reform of interest rate marketization in financial markets and also the openness of independent operation for financial markets, which will be benefit for stable development of national economy. Applying CAPM and Z-score models based on bank stock prices to measure bank risk-taking, this study uses the macroeconomic data and 16 listed banks data over the period of 2008-2014 to investigate how interest rates affect bank risk-taking and also conduct comparison between listed state-owned banks and listed joint-stock banks and city commercial banks. Based on empirical analysis by applying imbalanced panel data model, the results of this study show that interest rates do have the effect on bank risk-taking. Short-term interest rate has the negative correlation with bank risk-taking, whereas long-term interest rate has the positive correlation with bank risk-taking. Secondly, state-owned banks have less risk-taking compared to stock-joint banks and city commercial banks. eywordst: Interest rate; Bank risk-taking; Total risk; Systematic risk; Idiosyncratic risk 收稿日期：2015-08-06；修訂日期：2015-09-04。* 通訊作者：朱順和，男，博士，澳門科技大學商學院助理教授。主要研究方向：銀行和退休金管理。E-mail: shchu@must.edu.mo，Tel:00853-889728790 引言1997 年東南亞金融風暴後，亞洲國家經濟逐漸復甦，貿易出超增長所產生大量資金轉移投資至美國；同時，OPEC 會員國家也將石油輸出賺取的大量資金轉投資至美國。大量的國外資金湧入，使得美國貨幣市場利率下跌到低的水準（Mishkin, 2012[1]）。由於持續低水平的實際利率，美國金融機構放寬貸款審核政策，並積極從事房地產貸款業務，刺激了房地產資產價格泡沫和證券化信貸產品，導致金融機構承擔越來越高的風險（Delis
96andKouretas，2011[2]）。最終於 2008 年爆發美國次貸危機，導致嚴重的全球經濟衰退。這次金融危機反映了貨幣政策在銀行風險承擔中扮演重要的角色。利率政策是貨幣政策實施的主要手段之一，中國人民銀行負責國家貨幣政策的制定與執行。為強化對利率工具的運用，中國人民銀行逐步採取深化金融市場的利率市場化改革，開放金融市場自主經營，更有利於國家經濟穩定發展。中國人民銀行制定《上海銀行間同業拆放利率（Shibor）實施准則》，規範貨幣市場基準利率的形成機制、資訊發佈機制和監督管理機制，2008年 1 月上海銀行間同業人民幣拆放利率（Shanghai Interbank Offered Rate，簡稱 Shibor）正式運行。2013 年 7 月中國人民銀行公佈《關於進一步推進利率市場化改革的通知》，全面開放金融機構貸款利率管制。2013 年 10 月公佈實施《貸款基礎利率集中報價和發佈規則》，規範貸款基準利率（Loan Prime Rate）的形成機制、資訊發佈機制和監督管理機制，以推進利率市場化，完善金融市場基準利率體系，指導信貸市場產品定價。銀行傳統業務以吸收存款及放出貸款為主，獲取存貸款之間的利息差作為收益；其中，銀行必須承擔存款與貸款期間不配合之利率風險（Eun and Resnick，2014[3]）。因此，銀行的經營決策深受貨幣政策及銀行監管規範之影響。寬鬆的貨幣政策，反映著市場低利率水平，會縮小存貸款之間的利息差，使得銀行會追求較高風險的貸款，以提高存貸款之間的利息差（Borio and Zhu，2008[4]）。Delis and Kouretas（2011）[2]、Zribi and Boujelbène（2011）[5] 等人之研究顯示利率與銀行風險承擔存在負相關。隨著利率市場化的快速發展，銀行的存款與貸款規模也不斷的擴大；相對地，銀行的利率風險也在不斷的增加。中國人民銀行貨幣政策與市場利率變動等外在宏觀經濟因素的不確定影響，使得利率管理成為銀行經營的風險管理重要問題之一。因此，為探究分析利率是如何影響銀行風險承擔，本研究採用銀行股價數據為基礎，運用資本資產定價模型及 Z-score 模型來衡量銀行風險承擔，以 16 家上市銀行的 2008 ～ 2014 年數據，進行實證研究，並比較分析國有商業銀行及非國有商業銀行的差異。1 文獻探討利率作為銀行收益率及資金成本率的指標，偏低的市場利率，會減小淨利潤率，趨使銀行會追求較高風險高利率的貸款，導致銀行承擔較高的風險（Apel and Claussen，2012[6]）。相反地，偏高的市場利率也會促使銀行追求增加貸款，若受資訊不對稱的問題影響，會導致風險承擔的 增 加（Castro，2013[7]）。Saunders and Cornett（2012）[8] 指出銀行利率風險主要衍生自存款與貸款期間不配合及利率的變動不確定性。學者研究利率與銀行風險承擔的議題，認為利率與銀行風險承擔存在負相關關係。Kasman，Vardar and Tunç（2011）[9] 運 用 OLS 和 GARCH模型分析利率、匯率對土耳其銀行股票收益的影響。實證結果表明利率與銀行風險呈負相關關係。Vogiazas and Nikolaidou（2011）[10] 以羅馬尼亞銀行業為研究對象，發現短期利率與銀行風險承擔存在負相關關係。Zribi and Boujelbène（2011）[5]探討突尼斯銀行業信貸風險的決定因素。運用1995 ～ 2008 年 10 家商業銀行的數據；其中，實證研究表明：利率與銀行信用風險呈負相關關係。有學者更提出深入的驗證結果，Delis and Kouretas（2011）[2] 研究發現利率對銀行風險承擔的影響，會隨著銀行淨值提高而減弱，但卻會隨著資產負債表外業務活動增加而提高。Angeloni，Faia and Duca（2015）[11] 認為在 2007 年金融危機期間錯誤的激勵機制影響到了金融機構，特別是銀行的風險偏好，主要係因為過高的流動性和過低的利率導致了銀行的高風險。Drakos，Kouretas and Tsoumas（2014）[12] 運 用 1997 ～ 2011 年 10 個CEE 經濟體與俄羅斯銀行的數據研究利率對銀行風險承擔的影響。實證結果表明：長期利率、央行利率與銀行風險呈負相關關係。
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105第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 Received 18 Sep. 2015; Revised 17 Oct. 2015* Corresponding author: Shiyong Zhao, Ph.D. in Economics, Associate Professor of School of Business, Macau University of Science and Technology. Research Areas: Applied Microeconomics, Economics Growth, China's Financial Reform and Development.E-mail: syzhao@must.edu.mo, Tel: 00853- 88972860State Ownership, Size, and Bank Profitability: Evidence from Chinese Commercial Banks, 1998-2011Shiyong ZHAO1*, Shurui HE2( 1. School of Business, Macau University of Science and Technology, Macau, China ) ( 2. School of Faculty of Social Sciences, University of Macau, Macau, China)AAstractt: This paper explores the effects of state ownership and size on profitability of Chinese commercial banks. Using an unbalanced bank-level panel data set consisting of 87 Chinese major commercial banks over 1998-2011 and regressed with fixed effect models, we find that state ownership does not have an economically significant effect on profitability of these commercial banks over the period of interest, while bank size has a statistically and economically significant and positive effect on profitability. This explains why all most all Chinese commercial banks are going all out to grow larger, and why they are reluctant to serve small and medium-sized enterprises. eywordst: Bank size; Chinese commercial banks; State ownership; Profitability; State monopoly國有股權、規模和銀行績效：來自中國商業銀行的證據（1998～2011）趙世勇1，何舒睿2（1. 澳門科技大學商學院，澳門；2. 澳門大學社會科學學院，澳門）摘要： 本文利用中國大陸87家商業銀行1998～2011年的面板數據，研究了國有股權和銀行的規模等因素對商業銀行盈利能力的影響。研究發現，國有股權對商業銀行的盈利能力沒有顯著的影響，而中國商業銀行存在著顯著的規模經濟效應。研究結果解釋了為什麼中國的商業銀行都在努力“拉存款＂做大規模，也解釋了為什麼它們不願意服務中小企業和農村地區。關鍵詞： 銀行規模；中國商業銀行；國有股權；盈利能力；國家壟斷0 IntroductionThis paper attempts to explore the effects of state ownership and size on profitability of Chinese commercial banks. Since the commercialization reform of Chinese banks from the mid-1990s, and especially the listing of 16 commercial banks on the stock exchanges, great changes have taken place in Chinese banking sector. Together with China’s economic expansion, almost all Chinese banks have grown larger. Moreover, “Since China launched its sweeping economic reform, although state intervention in many sectors of the economy has been substantially reduced or eliminated entirely, the state continues to play a dominant role in the financial sector” (Lardy, 1998[1]; Huang & Bonin, 2001[2] ;
106Park & Sehrt, 2001[3]; Shih et al., 2007[4]). Even so, compared with the 1990s or earlier, the ownership structure of Chinese commercial banks has become much more diversified with a declining state share in general. As observed by Lin and Zhang (2009)[5], ownership reform was introduced incrementally. The growing diversity of ownership structure of Chinese commercial banks offers an opportunity to test the effect of state structure on profitability of these banks. As Inanotta et al. (2007)[6] suggested, ownership structure has two dimensions: the degree of ownership concentration and the nature of the owners. For the Chinese banking sector, the degree of ownership concentration does not change much, while the nature of owners changes significantly. Therefore, we focus on the ownership nature dimension of the ownership structure in this paper. The nature of owners (state or private) embodies an organization’s property rights arrangement. While the new institutional economics, especially property rights theory, suggests that an organization’s property rights arrangement determines its efficiency and thus performance. The logic is apparent: institutional arrangement determines an organization’s incentive mechanism, incentive mechanism determines human behavior, and human behavior determines economic performance (North, 1990[7]; Cheung, 2002[8]). More specifically, given market structure, private organizations tend to outperform public ones, because private ownership provides stronger incentives to managers and employees (Friedman, 1980[9]). Most studies have confirmed that privatization has a positive and significant impact on firm performance (Zhao and Chen, 2007[10]; Dinc and Gupta, 2011[11]). Chinese banks were traditionally 100 percent owned by the state, and as observed by Dinc (2005)[12], government ownership of banks is very common in countries other than the United States. After two decades of commercialization reform, state ownership of banks in China has decreased significantly on average. A natural idea is to test whether state ownership is a key factor of bank profitability in China. Given market structure and ownership structure, traditional economic theories suggest that in many industrial production processes, within a relevant range, the larger the firm, the lower the average cost will be. That is, industrial productions tend to exhibit significant economies of scale over relevant range of output. So does the effect of economies of scale also exist in the banking industry? We need evidence to answer this question although intuition and common sense may give us an affirmative answer. Another distinguishing feature of Chinese commercial banks is their fast growing size. Chinese commercial banks are also quite different with size, which is usually measured by value of total assets. So our second idea in this paper is to test whether size is a key determinant of profitability of Chinese commercial banks. The rest of the paper is organized as follows. Section 2 is a brief literature review. Section 3 presents our hypotheses. Section 4 reports data and variables. Section 5 explains the econometric models and empirical methods. Section 6 provides regression results and explanations. Section 7 concludes the paper with some policy implications. 1 Literature ReviewLiteratures in these areas abound and the results are mixed. We first review some cross-country studies on foreign banks, and then focus on researches on Chinese banks. Molyneux & Thornton (1992)[13] was one of the early papers to explore thoroughly the determinants of bank profitability on a set of countries. They use a sample of eighteen European countries over 1986-1989, and find a significant positive relationship between return-on-equity (ROE) of banks and government ownership of banks. Micco et al. (2007)[14] use a cross-country dataset to assess the relationship between bank ownership and performance, providing separate estimations for developing and industrial countries. They find that “state-owned banks located in developing countries tend to have lower profitability and higher costs than their private counterparts, and that the opposite is true for foreign-owned banks.” However, they find no strong correlation between ownership and
107Shiyong ZHAO, et al State Ownership, Size, and Bank Profitability: Evidence from Chinese Commercial Banks, 1998-2011performance for banks located in industrial countries. Researchers on Chinese banks arrive at different conclusions. Using a data set covering 15 Chinese commercial banks over 1996-2002, Liu et al. (2005)[15] concludes that state share has a significantly negative effect on bank profitability. Zhao & Yang (2009)[16] echoes this result by using a panel data set over 2001-2007. Lin and Zhang (2009)[5], using a panel of Chinese banks over the 1997-2004 period, find that the “Big Four” state-owned commercial banks are less profitable and less efficient than other types of banks. Gu (2005)[17] in her Ph.D. thesis reports that during 1998-2003, the profit margins of state-owned commercial banks were much lower than that of non-state-owned joint-stock banks in China. She argues that policy burdens (say, redundant workers) and egalitarianism (thus less incentive) of state-owned banks reduced their profitability. A positive relationship between bank size and bank profitability should be expected if there is significant economies of scale effect in the banking industry, and many previous studies have proved that (Molyneux & Thornton, 1992[13]; Bikker & Hu, 2002[18]; Goddard et al., 2004[19]). Literatures in this field, however, fail to reach indisputable conclusions. Boyd & Runkle (1993)[20], for example, find that there was a negative relationship between size and profitability of American banks in the early 1990s. As reported by Zhao & Xiang (2010)[21], from 1993 to 2002, large banks and small (community) banks in the U.S. achieved quite comparable profit margins, measured by ROA. In a word, the impact of size on bank performance remains inconclusive, depending on different samples used. Regarding bank size and bank performance, studies on Chinese banks do not arrive at consensus either. Shih et al. (2007)[4] conclude that “in China, unlike in other developing countries, the size of the bank is not correlated with their performance. Mid-size national joint-stock banks perform considerably better than the Big Four banks and smaller city commercial banks.” That is to say, they find an inverse-U shaped relation between bank performance and bank size in China. Zhao (2010)[21], however, find that large banks in China have no worse performance, if not better, than small and medium-sized banks by using more recent data. Zhao (2010)[21] argues that large banks have more opportunities to finance large government infrastructure projects, which are more profitable and less risky. Previous studies show mixed results on the impact of ownership and size on bank profitability. That is not surprising because each study is based on a distinct sample of banks over a specific time period (the present paper is not an exception either). The institutional environments in which banks are operating are quite different across various countries and over different periods, while no one can deny that institutional environment influences bank risk taking and performance (Houston et al., 2010)[22]. So the effects of the same variable on bank profitability in different countries may differ. Even in the same country, the effects may vary over different time periods, since a country’s institutions may have changed dramatically even within a relatively short period, especially in the transition economics like China. The improvement of this paper is to include more commercial banks into the data set than previous studies, which usually study only the 16 listed banks; we choose the time period over 1998 to 2011 by considering the data availability when this research was conducted. The contribution of the present paper is to test the effects of both state ownership and size on the profitability of Chinese banks. We argue that ownership does not have a statistically significant effect of bank profitability not because ownership does not matter, but because the monopoly position of Chinese banking sector, the competition among the banks is not intense enough. The significant economies of scale effect explains why Chinese commercial banks are trying to getting larger. Dramatic changes have taken place in China’s banking sector, for example, some banks have been listed on the stock exchanges. These changes must have affected banks’ behaviors, thus affect their profitability. This paper
108will reexamine the effect of government policy on bank profitability, and explain many observed behaviors of Chinese banks. Our motivation to conduct this study is based on a belief, that is, the effect of one variable on the other depends on specific institutional environment. So when the institutional environment is changing rapidly, we must reexamine the causality with new evidence. In this way, we can gain new insights about institutional change and from the observed phenomena. 2 HypothesesAn organ iza t ion’s pe r fo rmance i s bo th determined by the incentive of the agents involved and the external market environment (the degree of competition). Agents’ incentive is determined by the organization’s institutional arrangement, especially property rights arrangement (ownership). Market environment is determined by government’s policy, that is, whether an industry is open to private investors. The degree of competition in an industry is not determined by the number of producers in that industry, but determined by whether the industry is free to entry (Cheung, 2002)[8]. The market competition is intense if an industry is open to any investors, private or public. If an industry is only open to investors with certain characteristics, say, government or state-owned firms, then that industry would be much less competitive. Given the market environment, property rights theory argues that private property is superior to public ownership in efficiency and productivity. Numerous empirical studies using different datasets have confirmed that (say, Zhao and Chen, 2007)[10]. Given the property arrangement, we argue that a firm will be more profitable in a less competitive market environment. The logic is simple. If only one firm is allowed to operate in an industry, for example, it would be very easy for the only firm to make profit even though it is inefficient. As to the impact of ownership on profitability, if market competition is very intense, we predict that the share of state ownership will have a negative effect on profitability. If market competition in an industry is not intense, the entry of the industry is strictly prohibited by the government or the law, we predict that ownership would have no significant effect on profitability. That is, ownership is relevant to profitability only when the market competition is fierce enough. In retrospect, most state-owned and collectively-owned enterprises in China were not privatized in a massive scale until the late 1990s when market competition was fierce enough. There are more than 200 commercial banks in China, we cannot judge ex ante whether the market competition of Chinese banking sector is intense enough, therefore we cannot predict in advance whether state share of banks have a statistically significant and negative effect or not significant impact on profitability. One might argue that larger banks have higher profitability due to economies of scale. However, this is not the case if competition among banks is intense enough. When many banks compete to serve one large customer, for example, the large customer would be in a better bargaining position to ask for a lower lending rate, which drives down the profitability of large banks. In China, however, banks are in a better bargaining position because of the monopolistic position of the banking sector, large banks don’t have to lower lending rates to attract customers. Moreover, also because of Chinese governments’ deep involvement into the economy, many large infrastructure projects of governments can only be financed by large banks. This is also a distinctive feature of Chinese environment. Considering that large banks in China don’t have to lower lending rates to serve large customers, and large banks have more opportunities to finance large government infrastructure projects, we hypothesize that bank size will have a significant and positive effect on profitability in China. 3 Data and VariaAles3.1 DataForeign banks excluded, Chinese commercial
109Shiyong ZHAO, et al State Ownership, Size, and Bank Profitability: Evidence from Chinese Commercial Banks, 1998-2011banks are classified into four groups: (traditionally) state-owned commercial banks (SOBs)1, nationwide joint-stock commercial banks (JSBs), city commercial banks, and rural commercial or cooperative banks; they are mutually exclusive and collectively exhaustive. One might argue that the separation of SOBs and JSBs is pointless because they are now all joint-stock commercial banks. The separation has been continued to use due to several reasons. First, it has become a convention attributable to their histories; SOBs had been wholly state-owned since their birth. Second, compared with JSBs, SOBs assume more responsibility for maintaining macroeconomic stability (say, inflation) and promoting economic growth, and the degree of government intervention is much less in JSBs than in SOBs. Third, as pointed out by Jiang et al. (2009)[23], “the payment system and personnel management of JSBs is more flexible than those of SOBs that are set in line with other central government officials,” and even their corporate cultures are quite different, in JSBs individual heroism is encouraged, while SOBs are more egalitarian (Zhao, 2011)[24]. City commercial banks (CCBs) did not emerge in China until 1995, when the State Council issued Guidelines on the Establishment of City Cooperative Banks. City Cooperative Banks were the precursors of CCBs. The first batch of CCBs were formed “through the merger of 2194 urban credit cooperatives, rural credit cooperatives, and local financial service institutions” (Zhang et al., 2012)[25]. For example, Bank of Shanghai was formed through the merger of some 110 urban credit cooperatives (Chen et al., 2005)[26]. By the late 2000s, there was at least one city commercial bank in almost every major city. CCBs, however, are unevenly distributed, with more branches in economically developed eastern regions and fewer branches in less developed western regions. Rural commercial banks (RCBs) underwent 1. The four banks are Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China. Traditionally they were wholly state-owned, but now they are also joint-stock banks and all have been listed on the stock market by the end of 2010. They have been and still are the four biggest commercial banks in China, so they are sometimes called the “Big Four.”similar evolutionary processes. The usual process goes as follows: rural credit cooperatives were first transformed into rural cooperative banks, and rural cooperative banks were then transformed into RCBs (Zhao, 2011)[24].TaAle 1. Geographical locations of the sampled AanksHeadquarter Number Headquarter NumberShandong 10 Shanxi 2Beijing 9 Shaanxi 2Zhejiang 9 Inner Mongolia 2Jiangsu 7 Xinjiang 2Henan 6 Jiangxi 2Guangdong 6 Ningxia 1Shanghai 4 Chongqing 1Hebei 4 Anhui 1Fujian 3 Jilin 1Liaoning 3 Hubei 1Guangxi 3 Yunnan 1Tianjin 2 Qinghai 1Sichuan 2 Total 87Hunan 2Eighty-seven Chinese commercial banks are selected into our sample. They include the 4 traditionally state-owned commercial banks, 13 nationwide joint-stock commercial banks, 63 city commercial banks, and 7 rural commercial banks.2 They are headquartered in 26 provinces, autonomous regions and municipalities of China. Their geographical locations are summarized in Table 1. SOBs and JSBs are mainly operating all across the country, while city and rural commercial banks operate in a local region. All the data used in this paper are from each bank’s annual reports, which are publicized by them 2. There are three policy banks in China, i.e., State Development Bank, The Export-Import Bank of China, and Agricultural Development Bank of China. It is controversial that whether these banks should be considered as commercial banks, since they were established to fulfill certain policy objectives of the government. So we do not sample these three policy banks. Chen et al. (2005)[26] also argue that policy banks are more like government agents rather than profit-seeking banks. Besides rural commercial banks, there are other two types of banks serving the rural area; they are rural cooperative banks and rural credit cooperatives. Their objective is to turn into rural commercial banks, and many of them are still financed by local governments (Zhao, 2011)[24], so we do not sample them either.
110on their official websites, and all the annual reports have been audited and confirmed by independent accounting firms such as PWC before they are published. Because the commercialization reform of large state-owned banks started from late 1990s, and the reorganizing and restructuring of many city commercial banks started even later, so most banks have less than 10 years of data. Some banks can be traced back to as early as 1998, such as China Minsheng Bank, while some banks only have two years of data. On average, each bank has about five years of data. So the panel data set we have is an unbalanced one. The year distribution of the sampled banks is summarized in Table 2. The period covered here is a unique one with far-reaching changes in China’s banking industry. A market-oriented banking system has taken shape, and sixteen commercial banks have been listed on the stock exchanges during this period.TaAle 2. Year distriAution of the sampled AanksYear Number of sampled banks YearNumber of sampled banks1998 1 2005 211999 2 2006 362000 4 2007 462001 6 2008 612002 6 2009 762003 7 2010 832004 9 2011 78A natural question is: why don’t we include more banks in our sample? The main problem is data availability. Previously data of banks could not be obtained from public sources. It was not until recent years did banks begin to upload their annual reports on their official websites. Even so, most small banks, especially those locate in underdeveloped regions still fail to disclose their data publically. Some banks do publicize their annual reports, but their reports are not audited by independent accounting firms; we don’t want to increase data observations at the expense of data quality, so we choose not to include them in our sample. The sample contains 436 observations of all major commercial banks in China, and it is the best selection we can get at the date of this study being conducted. TaAle 3. Market shares of Chinese Aankst: 2004 and 2011Banks2004 2011Assets Liabilities Assets LiabilitiesTraditionally state-owned 53.6% 53.5% 47.3% 47.4%Nationwide joint-stock 14.9% 15.0% 16.2% 16.3%City commercial 5.4% 5.4% 8.8% 8.8%Other financial institutions 26.2% 26.1% 27.6% 27.5%Total (RMB trillion) 31.60 30.33 113.3 106.1Source: Calculated according to the statistics on the official website of China Banking Regulatory Commission (CBRC), www.cbrc.gov.cn, and the annual reports of some banks. Note: Traditionally state-owned commercial banks are the “Big Four,” i.e., Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China. Other financial institutions include policy banks, rural commercial banks, foreign financial institutions, rural credit cooperatives, financial companies (of large enterprise groups), trust and investment corporations, financial leasing companies, and postal savings.So the 87 banks in our sample is not a randomly chosen sample. Altogether China has about 280 commercial banks of all types, 87 is not a big number among 280, but they represent the largest and most competitive banks in China. Table 3 presents a summary of a highly concentrated market structure of Chinese banking sector. We present some basic information about the 87 sampled banks in Table 4 below. It is safe to say that the sampled banks represent the mainstay of Chinese banking sector. TaAle 4. Assets share of sample Aanks, 2010-2011Sampled Banks 2010Share of Assets2011Share of AssetsTraditionally state-owned (4) 49.2% 47.3%Nationwide joint-equity (13) 15.6% 16.2%City commercial (63) <8.2% <8.8%Rural commercial banks (7) n.a. n.a.Source: Official website of China Banking Regulatory Commission, www.cbrc.gov.cn. Note: Numbers in parentheses mean the number of each type of banks in the sample. The share of assets is the ratio of total assets of each type of banks to the total assets of the entire banking sector. 3.2 VariaAlesFor our purpose, we are going to test the effects of state ownership and size on profitability. So we need to define these two explanatory variables of interest. First, how to define “state ownership” of a bank?
111Shiyong ZHAO, et al State Ownership, Size, and Bank Profitability: Evidence from Chinese Commercial Banks, 1998-2011Most banks in China had been wholly owned by the state. Banks were de factor the finance department of the government; the government ordered the state banks to finance the state-owned enterprises. It’s not surprising that the accumulated non-performing loans (NPLs) reached an astronomical figure by the end of 1990s; the NPLs accounted for as high as 20 percent of the four state-owned banks’ assets in 1999 (Chen et al., 2005) [26]. To bail out the “Big Four,” Chinese central government injected RMB27 billion of capital into the “Big Four” and transferred the NPL to the four newly established asset management corporations (AMC) in 1999 (Lin and Zhang, 2009)[5].In this paper, we define state ownership to be the percentage of shares owned by the state (government agencies) and state-owned legal persons (usually large-sized state-owned enterprises). Government agencies include governments both at the national level and subnational level. By the end of 2011, there is no bank in our sample that is wholly owned by the state. The mean state share in 2011 is about 32 percent based on our sample. A commonly used measure of banks size in the literature is total assets. A bank is large usually implies that it has a large asset size. Of course, we can use number of employees, total profits or net profits etc. to measure bank size, however, they are much less commonly used than assets size. It is reasonable to believe that these indicators have high correlation. Our calculation shows that the correlation coefficient between total assets and number of employees is as high as 0.9524, and the correlation between total assets and net profits is even higher, 0.9797. Therefore, it is safe for us to use total assets to measure bank size. Bank size varies greatly in our sample. As the aforementioned data show, the “Big Four” has accounted for nearly a half of the total assets of all the Chinese banking institutions. By the end of 2011, the largest bank in China is Industrial and Commercial Bank of China (ICBC), which has total assets of RMB15.48 trillion. Asset size of the “Big Four” all exceeds RMB10 trillion by the end of 2011. The smallest bank in our sample is Bank of Hebi, a city commercial bank in Henan province, with an asset size of RMB5.5 billion. This implies that the size of ICBC is 2,816 times that of Bank of Hebi! The mean asset size in 2011 is around RMB1 trillion based on the sample. Profitability is the dependent variable that we are going to explain in this paper. Profitability of a bank, as the name itself implies, means the ability of a bank to make profits. It should not be measured by an absolute value of output, say, total gross profit or net profit; it is best measured by a ratio, a revenue-cost relationship, because no profit is earned without any cost. In the literature, bank profitability is typically measured by “return on assets” (ROA) and/or “return on equity” (ROE). In this paper, besides ROA and ROE, we add another measure, “net profit per person,” which is defined by “net profit divided by total number of employees.” Here, ROE is accurately defined as “weighted average ROE.” 3We should emphasize here that profitability just indicates the ability to make profit, it says nothing about why it can make profits or how it makes profits. That is, profitability is not equivalent to efficiency or productivity. For example, a bank or firm has high profitability not necessarily because it is efficient or productive, may be because it is under the protection of the government, or it enjoys some preferential policies of the government. In the literature, many papers study determinants of bank efficiency or productivity (Matthews & Zhang, 2010[27]; Ariff & Can, 2008[28]; Zhang et al., 2012[25]) 4, what we focus on in this paper is profitability, this is a distinguishing feature of our paper. The three measures of profitability, namely, net profit per person, ROA, and ROE, are either directly reported by the banks in their annual reports, or can be easily calculated according to their definitions. All the three measures are related but different; they measure profitability from different perspectives. 3. For the formula of calculating “weighted average ROE,” please refer to a Notice issued by China Banking Regulatory Commission (CBRC) in 2001, http://finance.sina.com.cn/g/34625.html.4. Berger & Humphrey (1997)[29] surveyed 130 X-efficiency studies of various types of financial institutions from 21 countries.
112Besides state share and size, we control for the following variables that may affect bank profitability, i.e., ratio of loans to top 1 single client, ratio of loans to top 10 clients, liquidity ratio, loan to deposit ratio, non-performing loan ratio, and capital adequacy ratio. We also control for a macroeconomic indicator, national inflation rate, inflation varies across years but is constant for all panels in any given year. We control for inflation because government monetary policy will affect both inflation and bank profitability, so we use inflation rate as a proxy for government monetary policy and also for macroeconomic cycles. Macroeconomic theory suggests that reserve-deposit ratio will affect bank profitability, we do not control for this variable since we have controlled for loan-deposit ratio. GDP growth is sometimes included as a proxy for the macroeconomic environment in which banks operate (Jiang et al., 2009)[23], but we believe that the growth of assets of banks largely originates from economic growth. Since we have included asset size in the regression, we can omit economic growth rate. The names, definitions and summary statistics of the variables are presented in Table 5.4 MODELS AND METHODOLOGYWe use panel data models in this paper. The advantages of using panel data are obvious. First, panel data can provide us with more observations. Second, panel data can effectively control for the heterogeneity of individual banks, since the banks have quite different backgrounds and characteristics. Third, from the point view of econometric method, panel data can provide more information, more variation, and more degrees of freedom, and less collinearity (Wang, 2008)[30]. Given the panel data, we still have three options when choosing an appropriate model to use. That is, we could choose among pooled OLS model, fixed effect (FE) model, and random effect (RE) model. When choosing between pooled OLS and FE, we use Wald test. Fixed effect model is better according to the Wald test result. When choosing between pooled OLS and RE, we use B-P test and LR test, both tests show that RE model is more appropriate. When choosing between FE and RE, we use Hausman test. The Hausman test supports the FE model. The model is specified as follows:Table 5. Variables: Names, Definitions, and Descriptive StatisticsVariable Name Meanings of Variable Mean Std. Dev. Min MaxROA Return on assets (%) 0.97 0.51 -2.63 3.98ROE Weighted return on equity (%) 17.94 7.76 -8.34 56.38Profit_per_person Net profit per employee 36.00 23.54 -8.34 130.41State_ownership Percent of state share (%) 33.29 25.64 0 100Total_asset Value of total assets 8013 21915 38 154769Top_1 ratio of loan to top 1 single client 15.89 57.36 1.03 966.5Top_10 ratio of loan to top 10 clients 70.30 128.12 8.67 1804Liquidity_ratio Liquidity ratio (%) 50.80 15.47 20.74 115.53Loan_deposit Loan divided by deposit (%) 62.84 9.79 21.03 86.00NPL NPL ratio (%) 2.04 2.34 0 21.76Capital_adequacy Capital adequacy ratio (%) 12.51 4.52 -1.47 62.04Inflation National inflation rate (%) 3.11 2.39 -1.40 5.90Source: calculated by the author based on dataset of this paper. Notes: ROA=Net Profit divided by the Mean of Beginning and Closing Balances of Total Assets. ROE weighted is calculated according to The Information Disclosure and Compilation Rule No. 9 – Calculation and Disclosure of Return on Equity and Earnings per Share (revised in 2010), formulated by China Securities Regulatory Commission (CSRC). Ratio of loans to top 1 single client = Loan borrowed by top 1 client divided by Net Capital. Ratio of loans to top 10 clients = Loan borrowed by top 10 clients divided by Net Capital. Liquidity Ratio = Balance of Liquid Assets divided by Balance of Liabilities. Loan-Deposit Ratio = Balance of Loan divided by Balance of Deposits (Balance of deposits does not include deposits by governments and outward remittance). NPL Ratio = Balance of non-performing Loan divided by Total Loans of all Debtors. Net Profit per Person is in unit of RMB 10,000. Total Asset is in unit of RMB 100 million. All other variables are in percentages.
113Shiyong ZHAO, et al State Ownership, Size, and Bank Profitability: Evidence from Chinese Commercial Banks, 1998-2011 (1)Here, profitability is measured by the three different measures explained above (so we have three specific models, each model with a different dependent variable measuring profitability); the meanings of all the variables are listed in Table 5. Our inclusion of a large set of control variables is to minimize the omitted variable bias, thus to reduce the problem of endogeneity. Before doing the regressions, we still need to check and solve several potential econometric problems. The first concern is collinearity between the explanatory variables. Readers may have good reason to suspect there exists collinearity between bank ownership and bank size, because large banks are traditionally owned by the state in China. This would be a problem if we use just cross-sectional data or time series data. Panel data, however, can better solve this collinearity problem because the number of observations has been greatly expanded (more than 400 observations in our sample), which provides more information with more variations (Hsiao, 2007)[31]. This is from the perspective of econometric methodology. Examining the data carefully, we can find that state shares in large banks have dropped significantly, while the asset size of all banks has been increasingly dramatically. Let us view a cross section, in year 2011, some banks are very large, but their state shares are not very high. For example, CCB is the second largest bank in China, but its state share has dropped from 100 percent to 60 percent in five years. Some banks are not so large, but their state shares are high. For example, China CITIC Bank and Everbright Bank of China are much smaller than the “Big Four,” but their state shares are quite high – more than 65 percent. T h e s e c o n d c o n c e r n i s a b o u t p o s s i b l e heteroscedastici ty among the cross sections. After checking the models, we find there do exist heteroscedasticity. To mitigate this problem and possible cross-section correlation problem, we will report the Driscoll-Kraay standard errors (Driscoll & Kraay, 1998)[32],5which are more robust if there exist heteroscedasticity and cross-sectional correlation problems. Because the panel data we use has the characteristic of N>T, i.e., the number of banks is far greater than the number of years (there are 87 banks and on average each bank has only five years of data), so the problems of serial correlation and panel unit root can be reasonably ignored (Wang, 2008)[30]. It would be a concern if we omit major important explanatory variables in the model, which may cause the OLS estimators to be biased. In order to avoid this problem, we try to add more explanatory variables into the model, most variables representing individual bank characteristics have been included if they are reported in the annual report of each bank. We conjecture this should not be a big problem in our model.5 Regression and ExplanationTable 6 presents the regression results based on Equation (1). First we analyze the effect of state ownership on bank profitability. When the dependent variable is ROA, state ownership does not have a significant impact on profitability. In model (1) and model (3), when the dependent variable is Log(net profit per person) and ROE respectively, state ownership does have a statistically negative effect on bank profitability. This seems to be consistent with theoretical predictions, i.e., private ownership outperforms public ones. The coefficients, however, are not practically significant. For example, even if state ownership increases by one percentage point, net profit per person of banks only declines by 1.3 percent, and ROE will drop by 0.13 percentage points. State ownership does not have a significant effect on ROA. These effects are largely negligible. We can reasonably conclude that ownership structure is not a key determinant of profitability of Chinese commercial banks over the period coved in the sample. This result seems to be conflict ing with theoretical predictions. Theoretically, a negative 5. For the specific Stata commands and related discussions please refer to Stata Journal, 2007, vol.3, pp. 281-312.
114association between state ownership and performance is expected for a number of reasons. First, “state-owned banks commonly function as government agents to fulfill national development plans and pursue non-economic goals of maintaining social stability and employment rather than profit maximization” (Jiang et al., 2009)[23]. Second, state-owned banks suffer from the “free-rider” problem since all citizens are de jure owners but de facto they are unable to influence management (Huibers, 2005)[33]. Third, non-state banks provide managers and employees with much stronger incentives than state banks; state banks are more egalitarian compared with non-state ones (Fu & Heffernan, 2007[34]; Zhao, 2011[24]). Most empirical studies generally show a negative association between state ownership and performance (Bonin et al., 2005[35]; Yao et al., 2007[36]; Fries & Taci, 2005[37]).So purely from the efficiency perspective, non-state banks should outperform state ones, the effect should be both statistically and economically significant. The regression results do not provide sufficient evidence to support this “common insight.” This does not necessarily mean that the data or theory is wrong. It may just imply that ownership is not a key determinant of profitability for Chinese commercial banks over the past several years. After thirty years of reform and opening-up, most Chinese manufacturing industries have been liberalized, deregulated, and privatized, competition among them is very fierce. The banking sector in China, however, is still highly regulated and protected, so competition among them is much less intense. So it is much easier for a bank to make profits than a manufacturing firm. Moreover, in China, deposit interest rates6 and reserve-deposit ratio are determined by the People’s Bank of China (PBOC), China’s central bank; at the same time, the lower limit of capital adequacy ratio and upper limit of NPL ratio are specified by China Banking Regulatory Commission (CBRC), China’s banking regulatory authority. These regulations are applied across the 6. Banks can change lending rates within relevant range, but there is no big difference between state-owned or non-state-owned banks.TaAle 6. Regression Results, 87 Chinese commercial Aanks, 1998-2011, time trend not controlledIndependent Variables[1] [2] [3]Dependent Variable:Log (Net Profit Per Person) Dependent Variable:ROA Dependent Variable:ROEState_ownership -0.013*** (0.0028) -0.003 (0.0017) -0.130*** (0.0370)Log (total_asset) 0.478*** (0.0395) 0.242*** (0.0522) 2.288*** (0.5437)Top_1 0.007*** (0.002) 0.003** (0.0012) -0.024** (0.0109)Top_10 -0.00*** (0.0010) -0.002*** (0.0006) -0.003 (0.0054)Liquidity_ratio -0.001 (0.0014) 0.003 (0.0019) 0.060*** (0.0204)Loan_deposit -0.001 (0.0029) 0.005** (0.0022) -0.020 (0.0565)Capital_adequacy 0.016 (0.0131) -0.008 (0.0083) -0.049 (0.0792)NPL -0.023 (0.0274) 0.024 (0.0164) 0.362 (0.3825)Inflation 0.018*** (0.0052) 0.022*** (0.0052) 0.324*** (0.0593)Constant 0.481 (0.4418) -1.080** (0.4575) 4.048 (8.5798)Observations 367 370 370Within R-Squared 0.8472 0.6233 0.4857Adj. R-squared 0.8031 0.5157 0.3388Model Fixed Effect Fixed Effect Fixed EffectNotes: (1) ***, **, and * besides the estimates stand for statistically significant at 10%, 5%, and 1%, respectively. (2) Figures in parentheses are Driscoll-Kraay standard errors of the estimates. (3) In the regression equations, total asset is in unit of RMB trillion; other independent variables are in units of percentage. In the regressions, net profit per person and total asset are in logarithm.
115Shiyong ZHAO, et al State Ownership, Size, and Bank Profitability: Evidence from Chinese Commercial Banks, 1998-2011board to all banks. So commercial banks, no matter they are state-owned or non-state owned, have little room to maneuver. What they can do is to try to attract more deposits and find profitable loan projects. This is an important reason why ownership structure does not show an economically impact on bank profitability. As mentioned above, the mismatch between the monopolistic banking sector and the more competitive manufacturing industries implies that even inefficient banks can make profits. In China today, private investors are still not allowed to open a bank. That is why there are numerous so-called “underground private banks” (illegal) in southeast China, especially in Zhejiang Province.7 Under this condition and given that interest rates are not determined by the market but set by the government, the demand for banking services (mainly loans) from other sectors of the economy is far more than the supply of them. So compared with the industrial sector, it is far easier for banks to make profits in China.8 This represents a mismatch between the industrial structure and financial structure (Lin et al., 2009)[38]. Under this kind of market structure, profit of banks result not so much from incentive and efficiency as it is from their license.The market structure of China’s banking industry can also help to explain the dramatically rapid growth of existing commercial banks in China. Of the top 25 banks that grow most rapidly in the world ranked by the U.K. magazine The Banker,915 Chinese banks are included. 10 During the past three years, profit of 7. In March 2012, the Chinese government announced a pilot project in to reform the financial sector in Wenzhou, an eastern coastal city in Zhejiang province with a tradition of entrepreneurship. 8. As the former Chinese premier Wen Jiabao said, “I think it has been too easy, quite frankly, for our banks to make profits. The reason is that a small number of large banks are in a monopolistic position. It is only from them, and nowhere else, that companies get the loans they need.” Reflecting on the fat profits of banks, Hong Qi, president of China Minsheng Banking Corp, even said at a forum in 2011 that the sector’s profit was so high but profit for industrial companies was so low that he sometimes felt upset to talk about his bank’s profit. Minsheng’s annual report, published in March 2012, showed a surge in profit of more than 58 percent in 2011. For details, please refer to China Daily, April 5, 2012.9. Source: www.thebanker.com. 10. Bank of Jiangsu in Jiangsu province, Bank of Ji’ning in Shandong province, and Chongqing Rural Commercial Bank in Chongqing Chinese banks has grown by 95 percent. Profit of Chinese banks has accounted for more than 20 percent of the whole world. This is partly explained by the monopolized banking industry, and partly explained by the rapid economic growth of China during the past decade.Regarding the effect of bank size on profitability, all three models indicate that size has a significant positive effect on profitability, both economically and statistically. That is to say, data strongly suggest that Chinese banking industry enjoys apparent economics of scale. The regression results show that, on average, when total assets increase by 1 percent, net profit per person will increase by 0.48 percent, ROA and ROE will increase by 0.24 and 2.3 percentage points. These are economically significant effects since the mean ROA is less than 1 percent, while the mean of ROE is 18 percent. The significant effect of bank size on profitability is relatively easy to understand. Given the mismatch between the monopolistic banking sector and competitive industrial sector, it is not difficult for a bank to find a customer to whom to grant loans, while it is difficult for a borrower to get loans from a bank if it has no collaterals such as land or real estate. For any commercial bank, compare two grants of loans, one is RMB 1 million, the other is RMB1 billion, the administrative costs are very close since the bank will use almost the same amount of labor and undergo the same procedures, but the benefits are 1,000 times different. The concept of economies of scale was first proposed to describe industrial production, but it is even more appropriate to characterize the banking sector. Some previous studies have confirmed the economies of scale effect in banking industry, such as Molyneux & Forbes (1995)[39], who found that a handful of large banks tend to emerge over time in European banking markets. This may because of government encouragement or the workings of the market mechanism. Municipality ranked No.2, No.3, and No.4 respectively with growth rate. There are other several banks whose growth rates exceeded 100% in 2011 (The Banker, 2011).
116Undoubtedly, large banks enjoy the advantage of economies of scale. In 2011, the single largest loan of ICBC is RMB40.5 billion, while the single largest loan of Bank of Ningbo is only RMB500 million.11 If we assume that the costs of a single loan of the two banks are the same, and the interest rates are the same,12 then for the single loan, the benefit of ICBC is more than 80 times of Bank of Ningbo! Thus the effect of economies of scale is very significant in the banking industry. Regressions also show that the ratio of loan to top 1 single client and top 10 clients do not produce any economically significant effects on bank profitability. That is because these two percentage levels are strictly controlled and regulated by CBRC, and most banks tend to not “put all eggs in one basket.” 13In contrast, asset size of banks is not controlled by any authorities, so effect of economies of scale in the banking industry is more reflected by their size of assets.Moreover, in China, large banks also have more opportunities to cooperate with governments at various levels.14 Chinese governments, central and local, still control most of the key areas of the national economy such as petroleum, telecom, and railway, etc. To stimulate the economy after the world financial crisis occurred in 2007-2008, Chinese governments have invested heavily in infrastructure construction in recent years, such as highways, railways, and airports.15 Only large banks could finance these large construction projects. In an interview with a city commercial bank leader by the author of this 11. These data are from the 2011 annual report of ICBC and Bank of Ningbo.12. Due to the monopolistic position of the entire banking sector in China, and due to the strong bargaining power of the large banks in China, they don’t have to lower the lending interest rates to find customers. So this assumption makes sense in China. 13. The author is grateful to Professor Han Chaohua of the Chinese Academy of Social Sciences for offering this insight.14. For instance, the construction of high-speed railroad between Beijing and Shanghai was financed by Bank of China, which was coordinated by Ministry of Finance and Ministry of Railway of China (Zhao, 2011[24], p.85).15. In 2011, RMB700 billion was invested to build high-speed rail in China. In 2012, an investment of RMB500 billion will be made to build new high-speed tracks (Data source: China Daily, April 5, 2012, page 2).paper, the bank leader said the local government had intended to cooperate with the local commercial bank in building the city’s subway system, but the local commercial bank was too small to be able to finance it. So the local government had to turn to ICBC (Zhao, 2011)[24].Our finding explains why almost all Chinese commercial banks are trying to grow larger, especially those relatively smaller banks. Smaller banks face more intense competition, and that is why new employees of these banks are strongly encouraged or even pushed to attract deposits. Given the monopoly position of the entire banking industry (private investors are not allowed to open banks), existing banks have no difficulty in finding customers to grant loans provided they have enough capital (deposits). So not only small and medium-sized banks want to grow larger, but large banks want to become even larger.16The finding also explains why most Chinese banks are unwilling to serve farmers because the average loan size in the rural area is much smaller. For instance, Agricultural Bank of China (ABC) had been specified to finance agriculture and farmers since its establishment in 1979. Its operations had been mainly in the countryside. But once ABC was expected to become a profit-oriented commercial bank, it has gradually retreated from the rural area and moved to cities (Zhao, 2011)[24]. Accompanying this process, many rural credit cooperatives and later township and village banks have been established to make up the gap. The situation is quite different from banks in developed countries, which face much more intense competition. For example, Sinkey (1992)[40] reports an inverse U-shaped (parabola-shaped) relation between bank profitability and bank size in the U.S. If competition in the banking sector is intense enough (private investors are allowed to open banks), then competition among large banks will drive down their 16. On 5 January 2011, Agricultural Bank of China announced that it would issue RMB50 billion of subordinated bonds. On 17-19 May 2011, Bank of China issued RMB32 billion of subordinated bonds. China Merchants Bank and China CITIC Bank both announced to issue new A+H stocks, worth RMB60 billion and RMB26 billion respectively. Source: official website of each bank.
117Shiyong ZHAO, et al State Ownership, Size, and Bank Profitability: Evidence from Chinese Commercial Banks, 1998-2011profit margins. Because large banks compete for large customers to realize the benefit of economies of scale, then large customers would have a better bargaining position to drive down lending rates that large banks could charge. Chinese banking industry is still far from that situation. That is why Chinese large banks could reap a higher profit margin than smaller ones. Control variables like liquidity ratio, loan-deposit ratio, capital adequacy ratio, and NPL ratio do not show significant and robust effects on bank profitability. There are two possible reasons. First, these variables are regulated by the CBRC, and individual banks have little room to manipulate. Second, these variables function like a “double-edged sword.” Finance theory says that people have to take more risks if they want to have a higher return. The higher, say the NPL ratio, implies that the bank takes more risk, which may contribute to a higher return, but non-performing asset is also a loss to the bank, it erodes profits of the bank. Inflation rate plays a significantly positive effect on bank profitability and the effect is robust. This makes good sense. Chinese commercial banks are under strict regulation and supervision of the government. If the government (usually the central bank) eases monetary policy, say, lower reserve-deposit ratio, then money supply is expanded, which contributes to a higher inflation rate; while it also implies that banks will have more money to lend, which contributes to profitability of banks. This finding is consistent with Athanasoglou et al. (2008)[41]. They study Greek banks over 1985-2001 and find “the business cycle has a positive, albeit asymmetric effect on bank profitability, being significant only in the upper phase of the cycle.” No firm can be immune to economic cycles, even so for the banking sector, which mainly serve investors. Some readers may concern about the robustness of these regression results. Although we have reported the most robust standard errors, the Driscoll-Kraay standard errors, and we used three related but different dependent variables, we still want to do more robustness test. We are to include time trend in the regression Equation (1), that is, we control for time. First, we create bank dummies, and then times each dummy with the calendar time. That is, we control for the time trend of each bank with some dummies dropped to avoid perfect multicollinearity, of course. The regression results are reported in Table 7. Table 7 shows that the results in Table 6 are robust in terms of time trend, since the regression results have no significant changes after we control for the time. After the time trend is controlled for, the sign, size, and significance of each estimate change very little. Given the significant concentration of our data (Table 2) in the years 2005 to 2011, we need to do another robustness test by dropping the earlier years, and we present the results in Table 8 below. Table 8 shows that the size effect weakens (no longer significant for ROE) after we drop the earlier years data, which implies that the size effect is stronger in earlier years than in recent years for ROE, but the size effect is still very significant both statistically and practically for the other two measures of profitability even if we drop the earlier years data.6 ConclusionEmploying an unbalanced bank-level panel data set, this paper tests the effects of ownership structure and size on bank profitability. The empirical findings suggest that ownership structure does not have an economically significant effect on bank profitability; this is quite different from previous studies on Chinese commercial banks. This paper also shows that size has a significant and positive effect on bank profitability, both economically and statistically. That is to say, there exists strong “economies of scale” in Chinese banking sector. Our findings explain why most Chinese banks are trying to grow larger, and why no large banks are really willing to serve small the medium-sized enterprises (SMEs), nor are they really willing to serve the rural areas. The findings of this paper reflect a fundamental problem in the economic structure of today’s China. Compared with the industrial and manufacturing sectors, the banking sector is still monopolized and highly controlled, in the sense that no private investors are allowed to open a bank. At the controlled interest
118TaAle 7. Regression Results, 87 Chinese commercial Aanks, 1998-2011, time trend controlledIndependent Variables[4] [5] [6]Dependent Variable: Log (Net Profit Per Person) Dependent Variable: ROA Dependent Variable: ROEState_ownership -0.011*** (0.0023) 0.001 (0.0026) -0.119** (0.0582)Log (total_asset) 0.536*** (0.0407) 0.242*** (0.0733) 1.965* (1.0473)Top_1 0.009*** (0.0024) 0.003** (0.0012) -0.007 (0.0164)Top_10 -0.005*** (0.0011) -0.002*** (0.0006) -0.012 (0.0083)Liquidity_ratio -0.005*** (0.0009) 0.002 (0.0022) -0.016 (0.0273)Loan_deposit -0.003 (0.0031) 0.003 (0.0026) -0.081* (0.0412)Capital_adequacy 0.019* (0.0097) 0.002 (0.0077) 0.047 (0.1095)NPL 0.019 (0.0327) 0.031 (0.0225) 0.967** (0.4848)Inflation 0.019*** (0.0037) 0.023*** (0.0080) 0.292*** (0.0677)Constant -28.122** (11.7065) -42.925*** (12.1198) -374.031** (184.5259)Time trend Controlled Controlled Controlled Observations 367 370 370Within R-Squared 0.8879 0.6810 0.5534Adj. R-squared 0.8446 0.5607 0.3851Model Fixed Effect Fixed Effect Fixed EffectNotes: (1) ***, **, and * besides the estimates stand for statistically significant at 10%, 5%, and 1%, respectively. (2) Figures in parentheses are Driscoll-Kraay standard errors of the estimates. (3) In the regression equations, total asset is in unit of RMB trillion; other independent variables are in units of percentage. In the regressions, net profit per person and total asset are in logarithm.TaAle 8. Regression Results, 87 Chinese commercial Aanks, 2005-2011Independent Variables[7] [8] [9]Dependent Variable: Log (Net Profit Per Person) Dependent Variable: ROA Dependent Variable: ROEState_ownership -0.017*** (0.0036) -0.003 (0.0039) -0.138** (0.063)Log (total_asset) 0.538*** (0.0554) 0.269*** (0.060) 1.255 (0.8582)Top_1 0.005*** (0.0015) 0.0009 (0.0016) -0.038 (0.0263)Top_10 -0.003*** (0.0007) -0.001 (0.0008) 0.004 (0.013)Liquidity_ratio -0.003 (0.0022) 0.003 (0.0024) 0.042 (0.0392)Loan_deposit -0.003 (0.0048) 0.004 (0.0052) -0.089 (0.0832)Capital_adequacy -0.009 (0.0085) -0.017*** (0.0064) 0.157 (0.1023)NPL -0.100*** (0.0256) 0.040 (0.0279) -0.504 (0.4469)Inflation 0.024*** (0.0082) 0.028*** (0.009) 0.368** (0.1434)Constant 0.785 (0.6003) -0.935 (0.6611) 19.77* (10.60)Observations 332 335 335Within R-Squared 0.6887 0.2856 0.1535Model Fixed Effect Fixed Effect Fixed EffectNotes: (1) ***, **, and * besides the estimates stand for statistically significant at 10%, 5%, and 1%, respectively. (2) Figures in parentheses are Driscoll-Kraay standard errors of the estimates. (3) In the regression equations, total asset is in unit of RMB trillion; other independent variables are in units of percentage. In the regressions, net profit per person and total asset are in logarithm.
119Shiyong ZHAO, et al State Ownership, Size, and Bank Profitability: Evidence from Chinese Commercial Banks, 1998-2011rates, the demand for loan far exceeds the supply of it. Therefore, almost all banks, state-owned or non-state owned, make profits far more easily than the competitive manufacturing industries. Furthermore, the government controls interest rates and many indicators of risk like reserve-deposit ratio, but it does not control a bank’s size, so almost all banks make efforts to grow larger to reap the benefits of economies of scale. The findings of this paper have shed important policy implications concerning banking reforms in China. SMEs and farmers have complained for a long time about the difficulty of obtaining loans from the state-dominated banks. A metaphor here is appropriate. To ask large banks to serve SMEs and farmers, just like inviting lions to catch mouse. The lions have no interest in catching mouse, nor are they good at catching mouse. 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121第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 Received 11 Nov. 2015; Revised 18 Nov. 2015* Corresponding author: Wen PAN, Female, PhD, Assistant Professor of Faculty of Hospitality and Tourism Management. Research Area: Organizational Behavior. E-mail: wpan@must.edu.mo, Tel: 00853-88971941Exploring the Antecedent and Outcomes of Employee Insider StatusLi HE1, Wen PAN2*, Lingping ZHAO3, Yueyuan CHENG 4, Junhua LI 4( 1. Shandong University of Finance and Economics, College of Management Science and Engineering, Jinan,China; 2. Macau University of Science and Technology, Faculty of Hospitality and Tourism Management,Macau,China; 3. Beijing Institute of Education, Beijing,China; 4. Macau University of Science and Technology, School of Business,Macau,China )AAstractt: We propose and test (1) the antecedent ( employee-organization exchange, EOX ) and outcome variables (responsibility to the organization and employee voice) of employee insider status, (2) chain mediating effects in the relationship between EOX and employee voice, and (3) moderating role of EOX in the mediation. Data were collected from 342 subordinates and their 200 supervisors in service firms in China. We find that (1) EOX had an indirect effect on employee voice via chain relational mediators of insider status and responsibility to the organization, and (2) EOX moderated the indirect effect of insider status on employee voice via responsibility to the organization. The finding suggests that organizations should develop a high-quality social-exchange relationship with their employees, which could engender their insider status and further evoke their sense of responsibility, thereby enhancing their voice for organizational change.eywordst: Employee voice; Employee-organization exchange; Insider status; Responsibility to the organization探討“局內人身份”的前置與後置變數何 麗1，潘 雯2*，趙灵萍3，程月圓4，李軍華4（1. 山東財經大學管理科學與工程學院，濟南；2. 澳門澳門科技大學旅遊與酒店管理學院，澳門） （3. 北京教育學院，北京； 4. 澳門科技大學商學院，澳門）摘要： 我們提出並檢驗（1）局內人身份的前置變數（員工-組織交換關係）和結果變數（員工組織責任感、諫言）及其關係，（2）鏈式仲介在員工-組織交換關係與員工諫言關係中的作用，（3）員工-組織交換關係在局內人身份-諫言的間接關係中的調節作用。資料取自中國的幾家服務業企業的342名員工及其200位主管。我們發現（1）員工-組織交換關係通過鏈式仲介變數（局內人身份和組織責任感）對員工諫言產生間接作用，（2）員工-組織交換關係調節局內人身份借由組織責任感對員工諫言產生的間接作用。這一發現表明，組織應與員工建立高品質的社會交換關係，這可以賦予員工局內身份，提升他們的組織責任感，由此推動他們為組織的變革獻計獻策。關鍵詞： 員工諫言；員工-組織交換關係；局內人身份；組織責任感
1220 Introduction Employee voice is discretionary communication of ideas, suggestions, concerns, or opinions about work-related issues with the intent to improve organizat ional funct ioning (LePine and Van Dyne, 1998[1]; Morrison, 2011[2]). Given change-oriented nature of employee voice and its benefit for organizational effectiveness, a steady stream of research has explored how social exchange relations in the workplace affect voice behavior. These social exchange relations are manifested in exchange with supervisors such as leader-member exchange (LMX), with co-workers such as coworker exchange or team-member exchange (TMX), and with the employers, such as employee-organization exchange (EOX) in the workplace. Research suggests that LMX is positively related to employee voice (e.g., Burris et al., 2008[3]; Liu et al., 2013[4]; Van Dyne et al., 2008[5]) and that the relationship between psychological contract breach (a negative EOX) and employee voice behaviors is moderated by LMX and TMX (e.g., Ng et al., 2014[6]). Though employment relationship is a major determinant to employee behaviors in the work organizations (Shore et al. 2004[7], 2006[8]; Coyle-Shapiro et al. 2004[9]), paucity of research has attempted to answer how to build a high-quality employee-organizat ion relat ionship, thereby encouraging employee voice. This question appears particularly important nowadays in the context that employee organization relationships have become shorter term and more transactional in nature over the years (Ng et al., 2014[10]). It has become harder for senior management to identify and develop employees who are deeply committed to their organizations (Rousseau, 1998[11]). EOX delineates employees' perception of their relationship quality with their employing organization (Shore et al. 2006[8]). Specifically, EOX refers to the extent to which employees build social exchange relationship with their organization in which employees exchange their effort or contributions for rewards or inducements provided by the organization (March and Simon, 1958[12]) beyond economic exchange-based contract. Further, though individual difference variables has illuminated our understanding of the dispositional basis of such change-oriented employee behavior (Choi 2007[13]; Morrison and Phelps, 1999[14]), far less research has documented the underlying mechanism through which EOX influences employee voice. A relational approach to the employment relationship addresses the processes through which an organization develops a high-quality, open-ended relationship with its employees. Because high-quality social exchange suggests that a long-term investment in employees on the organization's part obligates employees to reciprocate the organization's inducements with discretionary role behaviors or contributions that benefit the organization. High-quality EOX constitutes an important condition for employees to transform “from being organizational outsiders to becoming organizational insiders” (Bauer and Erdogan, 2011, p. 51[15]). In a collectivistic society such as China (Hofstede, 2001[16]), gaining personal space and membership inside ones' organizations is a prerequisite for Chinese employees to devote themselves to their organizations (Wang and Kim, 2013[17]). Exploring the intermediate role of insider status could enhance our understanding of how such social exchange will encourage and elicit voice behaviors. EOX acts as the antecedent of insider status and employee voice. Could EOX further serves as boundary condition for the effect of insider status on employee voice? We can know better about employee voice through exploring the main and interactive effects of EOX. We aim to address these research problems through examining the mechanism through which EOX affects employee voice. Specifically, the objectives of this study are to propose and test (i) the path of EOX → distal relational mediator (insider status) → proximal relational mediator (responsibility to the organization) → employee voice, and (ii) EOX moderates the indirect effect of distal relational mediator (insider status) on employee voice via proximal relational mediator (responsibility to the organization). Figure 1 depicts the proposed
123Li HE, et al Exploring the Antecedent and Outcomes of Employee Insider Statusrelationships. Fig. 1 Research modelWe contribute to employee voice literature in three ways. First, while most research on EOX has focused on predicting performance, citizenship, affective commitment and turnover intensions (Coyle-Shapiro and Shore, 2004[9]), paucity of research examines how such social exchange affects employee voice. We extend research on employee voice (e.g., Morrison 2011[2]) from employee-organization relational perspective. Second, we draw on relational perspective to explain why and how EOX might influence employee voice. High-quality EOX engenders employees the sense of insider status, which invokes their reciprocity to the organization to sustain the relationship. Performing employee voice is a reflection of their responsibility to the organization. The study responds to the research call that more research should be conducted to assess more potential antecedents and consequences (Lapalme et al., 2009[18]). Third, we also examine the moderating effect of EOX on the indirect effect of insider status on employee voice via responsibility to the organization, responding to the research call considering the moderating elements that might mitigate or reinforce the relation between perceived insider status and potential outcomes (Lapalme et al., 2009[18]). 1 Theoretical Aackground and hypothesesEOX and employee voice The employment re la t ionsh ip has been conceptualized at either the macro level to describe the formal employment relationship (Tsui et al., 1997[19]) or the micro level to describe an employee's perception of the quality of the employment relationship (Shore et al., 2006[8]). Adopting a micro level view of the employment relationship, we focus in this study on EOX as an antecedent of employee voice. From the relational perspective, employee-organization relationship has been conceptualized as a trade in which employees exchange their effort or contributions for rewards or inducements provided by the organization (March and Simon, 1958[12]). While the nature of this exchange is conceptualized in economic and social terms (Blau 1964[20]), social relative to economic exchange has assumed a dominant role in understanding the employee - organization relationship (Cropanzano and Mitchell, 2005[21]; Hom et al. 2009[22]; Shore, et al. 2006[8]). Consistent with Shore and colleagues (2006[8]), EOX indicates that the perceived social-exchange oriented employment relationship characterized by mutual trust and investment between employees and their organization, oriented at their long-term and social-emotional exchange. However, until Shore and colleagues' (2006[8]) development and validation of a measure of social (and economic) exchange, paucity of research has consistently examined its influence on employee attitudes and behavior. Given that Shore and colleagues' measure was designed to capture a micro level view of the employment relationship, EOX represents a potentially interesting conceptual lens for understanding how employees perceive the employment relationship.Because of its social-exchange nature, EOX will engender employees to reciprocate organization's investment through behaviors that benefits the organization. Prior research suggests that high quality EOX was associated with citizenship behavior, in-role performance, and lower absence and tardiness (Shore et al., 2006[8]). Such positive exchanges should also extend to challenging employee behaviors, such as voice behavior. Consistent with Scott and Bruce (1994[23]) and Burris, Detert[12] and Chiaburu (2010[24]), employees who perceive a higher quality EOX should feel a greater desire to help the organization and
124therefore engage in more employee voice. Therefore, employees who experience high-quality exchange relationships with their organizations will speak up more frequently about problems and possibilities for improvement. However, high-quality EOX may not directly affect employee voice, but via their perceptions and attitude. Given the implications of high-quality EOX for an employee's perception of insider status and his or her sense of responsibility, we view insider status and responsibility to the organization as chain mediators in the EOX - voice link. EOX, insider status, responsibility to the organization As suggested by relational perspective, high-quality EOX fosters reciprocation, mutuality and interdependence between employee and their organization, and confers on an employee a sense of belonging which by making him or her citizen of the organization carries some rights and responsibilities (Graham 1991[25]). We thus argue that EOX engenders employee perception of insider status. Stamper and Masterson (2002: 872[26]) defined insider status as ‘the extent to which an individual employee perceives him or herself as an insider within a particular organization’. Consequently, insider status ‘represents a sense that employees have earned a ‘personal space’ and acceptance inside the work organization’ (Masterson and Stamper 2003:483[27]). As insider status speaks to the fundamental human need for belonging (Baumeister and Leary 1995[28] and therefore defines one's status as a group member, it represents a potentially interesting conceptual lens for understanding how employees perceive the employment relationship or their sense of membership of the organization. EOX affects insider status, because as an indicator of one's status as an organizational insider, insider status implies that an employee will enjoy positive work experiences which will signal an organization's care and concern and therefore an affirmation of an employee's status as an organizational insider. From a relational perspective, the status of organizational insider should constitute a sociometer that conveys to an individual that he or she is a valued and contributing member of the organization. Insider status further enhances responsibility to the organization. Responsibility to the organization has been variously conceptualized as felt responsibility (Pearce and Gregersen 1991[29]), as responsibility in a specific context such as responsibility for change (Choi 2007[13]; Fuller et al. 2006[30]), and as responsibility norms (Salamon and Robinson 2008[31]). Underlying these conceptualizations of responsibility is the notion of accountability for organizational outcomes. Research on the antecedents of responsibility for organizational outcomes has examined perceptions of the work environment such as supportive leadership (Choi 2007[13]), task-related characteristics such as task interdependence (Pearce and Gregersen 1991[29]), socio-structural variables such as access to strategy-related information (Fuller et al., 2006[30]), and collective felt trust (Salamon and Robinson 2008[31]). While much is known about the antecedents of responsibility to the organization both in a global and context-specific sense, paucity of research has examined relational antecedents (Salamon and Robinson 2008[31]). Responsibility to the organization may stem from the status of organizational insider. The status of organizational insider implies that the individual is a trusted member of the organization and indicative of the high quality relationship with the organization, an employee may have access to resources, strategy-related information, and a challenging job, variables shown to be related to felt responsibility (Fuller et al., 2006[30]). A relational perspective suggests that the status of an organizational insider will engender an obligation to reciprocate and assume responsibility for the well-being of the organization. Insider status will thus be positively related to responsibility to the organization. Taken together, we posit that EOX engenders insider status, which invokes reciprocation to contribute in the form of responsibility to the organization. ● H1. Insider status mediates the relationship between EOX and responsibility to the
125Li HE, et al Exploring the Antecedent and Outcomes of Employee Insider Statusorganization. Insider Status, responsibility to the organization and employee voice Insider status has been shown to be related to task performance (Chen and Aryee 2007[32]), the altruism dimension of OCB (Stamper and Masterson 2002[26]). Accordingly, we expect insider status to be related to the change-oriented OCBs of voice. The influence of insider status on employee work outcomes has been explained in terms of the responsibility that stems from one's status as an organizational insider or in terms of citizenship obligations (Chen and Aryee 2007[32]; Stamper and Masterson 2002[26]). Although this is theoretically plausible, the mediating role of responsibility to the organization in explaining the insider status-work outcome relationships has not been empirically examined. According to Cummings and Anton (1990[33]), feelings of responsibility can stem from before-the-fact (prospective accounts) or retrospective (after-the-fact) accounts. The former entails voluntary acceptance of obligations or duties or what Graham (1986[34]) calls assumed responsibility and is consistent with the usage of the construct in this study. When employees assume responsibility for the organization they hold themselves accountable for organizational outcomes which is distinct from assigned responsibility that stems from after-the fact accounts or attributions of blame for actions. Assuming responsibility for organizational outcomes constitutes a motivational force that provides an impetus for action. T h e b e l i e f t h a t o n e i s r e s p o n s i b l e f o r organizational outcomes will motivate one to behave in ways consistent with this belief. A high level of responsibility to the organization will lead individuals to express suggestions for improvements, behaviors which in the aggregate, enhance an organization's ability to adapt to the increasingly dynamic and uncertain environment. Much research has reported felt responsibility to be related to cooperative (Pearce and Gregerson 1991[29]) and change-oriented OCBs (Choi 2007[13]; Frese et al., 1996[35]; Fuller et al., 2006[30]; Morrison and Phelps 1999[14]). Drawing on relational perspective and following from the preceding discussion, we expect insider status to influence employee voice via responsibility to the organization. Insider status will lead employees to assume responsibility for organizational outcomes which in turn, motivates them to engage in employee voice. ● H2. Responsibility to the organization mediates the relationship between insider status and employee voice. Chain mediating roles of insider status and responsibility to the organizationOn the basis of the argument for Hypotheses 1 and 2, we predict that EOX enhances employee voice via the chain mediating roles of insider status and responsibility to the organization. EOX supplies a relational context, characterized by reciprocation, mutuality and interdependence, which satisfies employees' belonging needs of membership in their organization. Insider status further evokes responsibility to the organization. Responsibility to the organization in turn leads to employee voice, the behavior that employees perform their duty and assume their responsibility. Admittedly, our cross-sectional design is unable to address the issue of causality, and there is a possibility for a reverse causal pathway with responsibility to the organization enhancing the quality of EOX. However, we expect that our hypothesized relationship to be more plausible based on the logic of the relationships of these constructs. As employee-organization relationship represents the essential contextual framework of employment relationship, EOX influences individual perception, motivation, attitude and behavior. We thus posits following integrated route of relationships: EOX→ins ider s ta tus→respons ib i l i ty to the organization→employee voice. ● H3. Insider status is a distal partial mediator and responsibility to the organization is a proximal partial mediator of the relationship between EOX and employee voice.
126Moderating effects of EOX As discussed above, EOX invokes employees' insider status, which further leads to their responsibility to the organization. We argue that the effect of insider status on responsibility to the organization is enhanced by EOX. Within a strong relational environment, employees with insider status will receive more trust and investment from the organization and will feel stronger obligation to reciprocate their organization and sustain social-emotional exchange. Owing to the mediating role of responsibility to the organization in the relationship between insider status and employee voice and moderating role EOX in the insider status and responsibility to the organization, we further posit that EOX strengthens the indirect effect of insider status on employee voice via their responsibility to the organization. ● H4. EOX moderates the indirect effect of insider status on employee voice via responsibility to the organization. The indirect effect is stronger when EOX is strong than when it is weak. 2 Methods2.1 Participants and proceduresData for this study were obtained from service firms in a coastal city of a southern province in the People's Republic of China. Questionnaires were distributed to respondents by our research team members, who were fully informed of the data collection procedures. The research team approached human resource department and obtained a list of subordinates and their supervisors that met the research criteria. The research team randomly selected one or two subordinates of each supervisor to participate in the study. A survey package was sent to each of the subordinates through their mailbox whereas survey packages for the supervisors were distributed during a meeting to explain the objectives of the survey. Codes and names of the direct reports or subordinates of a supervisor were written on the top right hand of the supervisor questionnaires. Enclosed in each survey package was a self-addressed envelope for returning completed questionnaires to designated boxes in the human resource department. Attached to each subordinate questionnaire was a letter that explained the objective of the survey, provided assurances of confidentiality, and informed respondents of the voluntary nature of participation in the study. A code written at the top right hand corner of the cover page of the subordinate questionnaire facilitated the matching of supervisor ratings to subordinate responses.Of the 450 questionnaires distributed, 342 matched and usable questionnaires were returned for a response rate of 76%. The 342 subordinates and 200 supervisors participated in the survey, indicating a ratio of 1.71 to 1. Respondents reported an average age of 28.06 years (S.D. = 6.58). In terms of gender composition, 53% of the respondents were females. Respondents were predominantly unmarried (62.6%), reported an average organizational tenure of 4.04 years (S.D. = 3.14), had obtained an average of 16 (S.D. = 1.80) years of education and worked an average of 43.85 hours per week (S.D. = 4.37). Supervisors were predominantly married (85.1%) and 62% were female. They reported an average age of 47.70 (S.D. = 8.58), an average of 14.42 (S.D. = 3.00) years of education, and an average organizational tenure of 18.08 years (S.D. = 8.61). 2.2 MeasuresThe survey instrument was originally constructed in English but translated into Chinese following recommended back translation procedures (Brislin, 1981[36]). Unless otherwise indicated, response options of all the measures in the survey ranged from (1) ‘strongly disagree’ to (5) ‘strongly agree’.Employee-organization exchange (EOX). We used Shore and colleague's (2006) 8-item scale to measure social exchange with organization. Response options ranged from (1) ‘strongly disagree’ to (5)’strongly agree.’ Sample items are ‘My relationship with my organization is based on mutual trust’ and ‘There is a lot of give and take in my relationship with my organization.’ The scale's alpha reliability is 0.70. Insider status. We used Stamper and Masterson's
127Li HE, et al Exploring the Antecedent and Outcomes of Employee Insider Status(2002[26]) 6-item scale to measure insider status. Sample items are ‘I feel like an ‘insider’ at this organization,’ ‘My work organization makes me believe that I am included in it,’ and ‘I feel included in this organization.’ The scale's alpha reliability is 0.80. Responsibility to the organization. We used an 8-item scale developed for this study to measure responsibility to the organization. The scale items were based on Pearce and Gregersen's (1991[29]) and Morrison and Phelp's (1999[14]) felt responsibility measures. Sample items are ‘I feel accountable for the success of this organization,’ ‘I feel a high degree of personal responsibility for the performance of this organization,’ ‘I feel motivated to do my very best to ensure the success of this organization’ ‘I consider it my duty to act in the best interest of this organization even if doing so means sacrificing my personal interest.’ The scale's alpha reliability is 0.83. Employee voice. We used a 6-item scale by Van Dyne and Le Pine (1998[5]) to obtain supervisory ratings of employee voice. One sample item is ‘This employee develops and makes recommendations concerning issues that affect the organization’. The scale's alpha reliability is 0.81.Since supervisors rated the employee voice of multiple subordinates, we investigated the possibility of non-independence of their ratings that would result in effects due to the supervisor rather than the subordinates rated. To satisfy the assumption of independence and following Zhang and Bartol (2010[37]), we conducted a one-way ANOVA with employee voice as the dependent variable. The results of the ANOVA revealed support for the independence of supervisor ratings as there was no systematic differences in their ratings of employee voice which may be attributed to differences in supervisor rating patterns rather than differences in employee voice (F = 1.09, p = 0.29). Control variables. We control for employee demographic variables such as subordinate age, gender, education, marital status, tenure and dyadic tenure with supervisors. Since employee perceived organizational support (POS) was also viewed as social exchange with organization, we controlled for the variable, a 6-item abbreviated version of the SPOS (Survey of Perceived Organizational Support) adopted by Eisenberger et al., (2001[38]) was used to measure POS (α= 0.71). 3 ResultsWe conducted a CFA to test the construct distinctiveness of the three major common-source variables (EOX, insider status, responsibility to the organization) and employee voice. We compare the hypothesized 4-factor model to a series of intuitively plausible alternative nested models. Results that compared the fit of our hypothesized 4-factor model to 5 nested alternative models are presented in Table 1. The fit indices indicate that our hypothesized 4-factor model fit the data best (χ2 = 166.53, df = 71, p < 0.001, RMSEA=0.063, CFI = 0.94, TLI =0.93) suggesting support for the hypothesized 4-factor model and therefore, the distinctiveness of the variables in this study. Table 2 presents the descriptive statistics, reliability coefficients, and zero-order correlations of all the studied variables. We centered all variables (except voice) at their grand means before evaluating the regression equa-tions. Table 3 shows the unstandardized regression results. The equations explained significant variance in insider status (F [8, 333] = 12. 39, R2 = 0.23, p <0.001), responsibility to the organization (F [9, 332] = 7.28, R2 = 0.17, p <0.001 before entering the interaction term; F [10, 331] = 7.81, R2 = 0.19, p <0.001 after entering the interaction term ), and employee voice (F [10, 331] = 2.19, R2 = 0.06, p <0.05). The signs on the unstan-dardized regression coefficients suggested that EOX positively predicted insider status (b= 0.28, p <0.001), responsibility to the organization (b= 0.35, p <0.07), but not related to employee voice (b= 0.07, ns). Insider status positively predicted responsibility to the organization (b = 0.11, p <0.05), but not related to voce (b = -0.05, ns). Responsibility to the organization was positively related to employee voice (b = 0.15, p <0.05). Further, insider status by EOX cross-product
128TaAle 1 Comparison of measurement modelsModel χ2 df Δχ2 RMSEA CFI TLIThe hypothesized 4-factor model 166.529 71 0.063 0.942 0.9253-factor model (combining EOX and IS) 366.110 74 199.581*** 0.108 0.821 0.7803-factor model (combining EOX and RES) 375.237 74 208.708*** 0.109 0.816 0.774 3-factor model (combining IS and RES) 497.368 74 328.839*** 0.130 0.741 0.6822-factor model (combining EOX, IS and RES) 648.231 76 481.702*** 0.149 0.650 0.581 1-factor model (combining all variables) 1008.868 77 842.339*** 0.188 0.431 0.327EOX = employee-organization exchange, IS = insider status, RES = responsibility to the organization, *** p <0.001 TaAle 2 Descriptive statistics and zero-order correlationsVariable M SD 1 2 3 4 5 6 7 8 9 10 111.Gender 0.53 0.50 -2.Age 28.06 6.58 -0.05 -3.Education 15.95 1.80 -0.05 0.08 -4.Martial status 0.39 0.52 0.05 0.58** 0.05 -5.Tenure 4.04 3.14 -0.03 0.79** -0.03 0.52** -6.Dyadic tenure 2.35 1.35 0.00 0.64** 0.02 0.49** 0.69** -7.POS 3.40 0.52 -0.01 0.05 0.11 0.09 0.07 0.12** -8.EOX 3.38 0.45 -0.06 0.07 0.08 0.06 0.04 0.11** 0.41** -9.Insider status 3.46 0.58 -0.05 -0.15 0.08 0.10 0.11* 0.15* 0.41** 0.36** -10.Responsibility 3.46 0.52 -0.06 0.13** 0.06 0.04 0.08 0.07 0.21** 0.36** 0.26** -11.Voice 3.14 0.55 0.05 0.05 0.04 0.12* -0.04 0.01 0.04 0.10 0.01 0.15** -EOX = employee-organization exchange; n = 342 * p <0.05, ** p <0.01TaAle 3 Regression resultsPredictors Insider status Responsibility to the organization Employee voiceM1 M2 M3 M4b se b se b se b seControlsGender 0.03 0.07 -0.03 0.05 -0.02 0.05 0.06 0.08Age -0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01Education 0.00 0.02 0.00 0.02 0.01 0.01 0.01 0.02Marital status -0.04 0.07 -0.06 0.06 -0.06 0.06 0.17* 0.07Tenure -0.01 0.02 0.00 0.01 0.00 0.01 -0.04** 0.02Dyadic tenure 0.02 0.03 -0.03 0.03 -0.02 0.03 0.00 0.03POS 0.35*** 0.06 0.03 0.06 0.05 0.06 0.01 0.07EOX 0.28*** 0.07 0.35*** 0.07 0.40*** 0.07 0.07 0.08Insiderstatus 0.11* 0.05 0.11* 0.05 -0.05 0.06Responsibility to the organization 0.15* 0.06EOX×Insider status 23** 0.07R2 0.23*** 0.17*** 0.19*** 0.06*F 12.39 7.28 7.81 2.19df 8—333 9—332 10--331 10--331n = 342 * p <0.05, ** p <0.01, *** p <0.001
129Li HE, et al Exploring the Antecedent and Outcomes of Employee Insider Statuswas related to responsibility to the organization (b= 0.2, p <0.01). We tested all hypothesized effects by constructed bias-corrected confidence intervals from 2, 000 bootstrapped samples (Mooney and Dual 1993[39]; Shrout and Bolger 2002[7]) . We follow Hayes (2012[40]) to test the mediated effect of (1) EOX on responsibility to the organization via insider status (H1), (2) insider status on employee voice via responsibility to the organization (H2), and (3) EOX on employee voice via insider status and responsibility to the organization (H3). As shown in the upper part of Table 4, the mediated effect of EOX on responsibility to the organization via insider status was significant (b = 0.03, se = 0.02, 95% bias- corrected CI: 0.001, 0.075). Hence, H1 was supported. The mediated effect of insider status on voice via responsibility to the organization was marginally significant (b = 0.03, se = 0.02, 95% bias- corrected CI: 0.007, 0.068). Hence, H2 was weakly supported. The mediated effect of EOX on employee voice via insider status and responsibility to the organization was significant (b =0.01, se = 0.01, 95% bias- corrected CI: 0.001, 0.017). Thus, H3 was supported. Using bootstrap analysis, we further tested the moderated role of EOX in the mediation. As shown in Model 3 of Table 3, the interaction tem of EOX and insider status was positively related to responsibility to the organization. In the lower part of Table 4, the indirect effect of insider status on voice via responsibility to the organization varies at high and low levels of EOX. When subordinates have high level of EOX, the indirect effect was significant (b = 0.04, se= 0.02, 95% bias- corrected CI: 0.010, 0.089). However, when subordinates have low level of EOX, the indirect effect was not significant (b = 0.00, se = 0.01, 95% bias- corrected CI: -0.018, 0.032). Thus, H4 was supported. We follow Preacher, Rucker, and Hayer (2007[41]) and use the Johnson–Neyman technique to plot the conditional indirect effects of EOX. Figure 2 shows the plot of conditional indirect effects of EOX. In support of H4, Figure 2 was plotted with an accompanying 95% confidence band based on the second-order variance. According to the plot, the indirect effect is significantly far from 0 for any value of EOX more than 4.00. Fig. 2 Indirect effect of insider status on voice (via responsiAility to the organization) versus the moderator (EOX)TaAle 4 Indirect effects of EOX on employee voiceb Boot SE 95% bias-corrected CIIndirect Effect1. EOX → Insider status → Responsibility (H1) 0.03 0.02 (0.001, 0.075)2. EOX → Insider status → Voice -0.02 0.02 (-0.058, 0.013)3. Insider status → Responsibility → Voice (H2) 0.03 0.02 (0.007, 0.068)4. EOX → Responsibility → Voice 0.05 0.02 (0.019, 0.106)5. EOX → Insider status → Responsibility → Voice (H3) 0.01 0.01 (0.001, 0.017) Moderated Indirect Effect 1.Insider status → Responsibility → Voice (H4) Low EOX 0.00 0.01 (-0.018, 0.032)High EOX 0.04 0.02 (0.010, 0.089) EOX = employee-organization exchange; Responsibility = responsibility to the organization; Voice = employee voice 95% bias-corrected CI
1304 DiscussionDrawing on the relational perspective, this study examined the intervening mechanisms through which EOX influences employee voice. As predicted, EOX engender employees' insider status, which evokes their responsibility to the organization, leading their employee voice. Further, EOX moderate the indirect effect of insider status on employee voice via responsibility to the organization. 4.1 Theoretical implications Our research contributes to a growing body of research exploring employee voice in work organizations. First, while research on the contextual antecedents of employee voice has gained prominence, paucity of research has examined the influence of the quality of the social exchange-oriented relationship on employee voice. This is among the first study to document the influence of EOX on employee voice. Our findings broaden the contextual antecedents of employee voice such as organizational structure and culture (Morrison and Milliken 2000[42]; Morrison and Rothman 2009[43]; Stamper and Van Dyne 2001[44]), leadership style (Detert and Burris 2007[45]), and job design (Fuller et al., 2006[30]; Tangirala and Ramanujam 2008[46]). Though it is a preliminary study, our findings suggest that employee perception of relational ties with the organization may also be predictive of employee voice. Second, the study contributes to the extant research by examining the underlying relational mechan ism th rough which EOX in f luences employee voice. From the relational perspective, our study explains why EOX may be related to employee voice. The findings revealed that insider status mediated the relationship between EOX and responsibility and responsibility to the organization mediated the relationship between insider status and employee voice. Employee voice is a constructive communication behavior and may stem from dissatisfaction with an existing situation. Only in the context high-quality social exchange-oriented employee-organization relationship could employees form the perception of insider status and the sense of responsibility for the success of their organization and engage in this form of change-oriented behavior. 4.2 Practical implicationsGiven the growing importance of employee voice for change in enhancing organizational adaptation to turbulent environmental conditions, the findings of our study have practical implications for organizations and their managers. However, since voice is seen as risky behavior, how to encourage employee voice seems to be critical for managers. This study suggests that organizations may have to invest in relational ties with their employees. Specifically, organizations should develop high-quality social-exchange relationship with their employees. High-quality relationship engenders their insider status, which evokes their responsibility to the organization, thereby enhancing their voice for organizational change. 4.3 Limitations and directions for future research The findings of this study and their implications must be interpreted against a backdrop of its limitations. First, our cross-sectional research design precludes any inference of causality. Although our relational perspective suggests that high-quality EOX motivates employee voice, future research that employs a longitudinal research design may be more appropriate in testing the causal status of the relationships we examined. Second, research has shown personality factors as antecedents of voice (Choi 2007[13]; Fuller et al., 2006[30]; Morrison and Phelps 1999[14]). While our study highlights the relational basis of employee voice, confidence in our findings would be enhanced by controlling for these personality antecedents. Third, except the data of employee voice were collected from supervisors, all other data were obtained from respondents which make our findings potentially susceptible to method variance. While the CFA results revealed our variables to be distinct, future research should nevertheless obtain data from sources other than respondents and their supervisors to ameliorate concerns about method variance. Lastly, although data were obtained from organizations in the service sector, it is unclear the
131Li HE, et al Exploring the Antecedent and Outcomes of Employee Insider Statusextent to which our findings are generalizable to other industries in China let alone to other cultural contexts. The premium placed on relational ties in China and the cultural value of collectivism may promote a sense of responsibility to the organization. This makes it particularly appropriate that future research adopts a cross-national perspective in understanding employee voice. The increasingly dynamic environment and the consequent need for continuous improvement in work processes and product/service quality have precipitated a flurry of research on employee voice. To complement previous research that examined individual and contextual antecedents of employee voice, this study focused on the impact of EOX quality on employee voice and the intervening mechanisms. The findings revealed the sequential mediating roles of insider status and responsibility and the moderating role of EOX. 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133第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 Received 30 Nov. 2015; Revised 26 Dec. 2015*Corresponding author: Ye XU, PhD, Assistant Professor of Faculty of Hospitality and Tourism Management. Research Area: Sustainable Tourism Management. E-mail: yxu@must.edu.mo, Tel: 00853-88972232A Study on the Interrelationships Among Event Perception, Destination Image and Destination Loyalty in MacaoYe XU( Faculty of Hospitality and Tourism Management, Macau University of Science and Technology, Macau, China )AAstractt: This research is intended to reveal the real attractiveness as well as the shortcomings of Macao as a tourist destination from a visitor’s perspective. It examines the relationship between tourist destination image and tourists’ overall perceptions towards 16 hallmark events simultaneously. Meanwhile, it explores the role of hallmark events in shaping destination image and stimulating destination loyalty. The findings reveal the appeal of hallmark events and demonstrate the positive links among the four variables: event perception, cognitive destination image, affective destination image and destination loyalty. The research result proves the potential and attractions of events in bettering destination images, which sheds the light on the significance of promoting event tourism and diversifying tourism products in Macao.eywordst: Hallmark event; Destination image; Destination loyalty澳門的盛事感知，目的地形象和目的地忠誠度關係之研究徐 曄（澳門科技大學酒店與旅遊管理學院，澳門）摘要： 本文從遊客的角度，通過實證研究的方法發掘遊客對澳門旅遊目的地真實形象。同時，以澳門的16個標示性盛事作為切入點，考察盛事感知與目的地形象及遊客忠誠度之間的關係。研究揭示了作為旅遊形式較為新穎及多樣化的盛事旅遊具有廣闊的發展空間，它與目的地形象和目的地忠誠度有著正向的聯繫，即：遊客對盛事的感知度越高，他們對該旅遊目的地的形象就越正面，更具有重遊意願並更有可能產生正向的口碑效應。研究結果對於如何改善盛事旅遊以及如何通過创造多样化的盛事旅遊产品吸引遊客并提高目的地形象有一定的借鑒意義。關鍵詞： 標誌性盛事；目的地形象；目的地忠誠度0 IntroductionKnown as the “Oriental Monte Carlo”, Macao is one of the most visited tourism destinations in Asia. This city-state has grown from a modest Portuguese Colony into a thriving metropolis that rivals well-established gaming centers like Las Vegas. Gaming is clearly important to both the image and economy of Macao, but the casino image is incomplete as Macao is a much more diverse destination and there is a need to draw attention to other attractions and experiences
134so that a diversified image of Macao can be created (Pacific Asia Travel Association, PATA/ Macau Task Force, 2012)[1]. Moreover, diversifying its tourism products can fight against with the problems due to its vulnerable industrial pattern. Many scholars agree that the best sustainable way to develop tourism in Macao is to promote a multi-industry approach by tapping local and cultural attributes that are different from other destinations (António, 2010; Lao, 2006)[2~3]. Macao government has realized the potential of events and the evidence to prove whether efforts by the event owner to bolster the event’s image will influence the behavioral intentions of consumers is insufficient (Walker, et al, 2012)[4]. This research, testing the relationship between event perception and destination loyalty is of great significance.1 Literature Review1.1 Event and Destination ImageEvents are an important motivator of tourism, and figure prominently in the development and marketing plans of most destinations (Getz, 2008)[5]. Event tourism is thought to be the systematic planning, development and marketing of planned events as tourist attractions, and for their benefits to place marketing, image making, and development (Getz, 2010)[6]. Destination images or themes can be used to connect together a series of events to underpin the ‘festivalisation of the city’ (Harvey, 1989; Boogaarts, 1992; Hannigan, 1998)[7~9], which in some cases has been extended to the idea of the ‘24 h city’, where the party never stops (Hughes, 2000)[10].Researchers hold no consensus in the literature about the relationships between the various categories of events. Just as Getz (2002)[11] suggested that the definition of a special event depended upon one’s perspective, so too is it suggested here that the demarcation between categories also tends to reflect one’s perspective. For example, an event that is held on an annual basis may be regarded as special in its first year because it is so different, but then be regarded as routine in subsequent years as the ‘newness’ wears off. Based on all the researches above, hallmark event in the paper is suggested as a recurring event possessing such significance, in terms of tradition, attractiveness, image, or publicity that it provides the host venue, community or destination with a competitive advantage (Getz, 2010)[6]. It is annual, large in scale and influential in promoting Macao image mostly attended or watched by tourists. The present research adopts a broad concept of culture events involving ethnic celebrations, holiday parties, food and drink festivals, sport games, etc. excluding the events with the primary purpose of making business.Destination image has become a crucial aspect of destination marketing strategies (Chon, 1990; Gallarza, Saura, & Garcia, 2002)[12~13], thus making it an important arena of research due to its intrinsic multidimensionality (Hunter, 2008)[14]. It is believed by many marketing and tourism researchers to be one of the most important and influential factors in consumers’ destination selection process (Baloglu & McCleary, 1999)[15]. Destination image is a complex in nature, involving many aspects that eventually contribute to the formation of the total image in the mind of the travelers (Govers et al., 2007)[16]. According to Erraji(2009)[17], the formation of destination images can be assorted to perception or cognitive dimension, affective dimension and the global dimension. Perceptual or cognitive evaluation refers to beliefs and knowledge about an object whereas affective refers to feelings about it (Baloglu and Brinberg 1997; Gartner 1993; Holbrook 1978)[18~20]. People develop both cognitive and affective responses and attachments to environments and places (Proshonsky, Fabian and Kaminoff, 1983)[21]. Holbrook (1978)[20] noted that in marketing and consumer behavior, those two components are treated under the label of “beliefs” vs. “affect.”It is predicted that over time, the event and destination can become inseparable in terms of the image (Getz, 2010)[6]. Over the past two decades, nations from around the world have competed to host major sport events because countries (and increasingly cities) perceive such events as potential re-imaging
135Ye XU A Study on the Interrelationships Among Event Perception, Destination Image and Destination Loyalty in Macaoopportunities (Hiller, 2006)[22]. For example, with one of its goals to use football to build a good future for Africa, the 19th FIFA World Cup was an opportunity for South Africa, which enhanced social cohesion and economic impact, but also helped the African Continent establish higher international prominence (Swart & Bob, 2007)[23]. Chalip (2004)[24] argues consumer event perceptions are related to both the image of the event and host nation. A series of studies of city marketing and tourism have pointed to the increasing use of major events as a means to market places and major cities in particular (Law, 1993)[25].As Selby (2003)[26] notes: “it is apparent that major events can have the effect of a shaping an image of the host community or country, leading to its favourable perception as a potential travel destination”. The fundamental reason to this is event tourism has been regarded as a significant tool to enhance destination image, particularly for large or cosmopolitan cities (Judd and Fainstein, 1999)[27]. Furthermore, images associated with major events can be transferred to the host community or destination, leading tourism agencies to increasingly include events explicitly in their destination positioning or branding strategies (Getz, 2010)[6]. Therefore, it is assumed that:Event perception is positively related to cognitive destination image (H1).Event perception is positively related to affective destination image (H2).1.2 Destination Image and Destination LoyaltyCustomer loyalty is defined in three basic ways: attitudinal loyalty, behavioral loyalty and composite loyalty (Zhang et al, 2014)[28]. Attitudinal loyalty means customers’ beliefs about the value received lead to their overall attitude toward a product or service, such as the intention to repurchase and recommend(Fournier, 1994)[29]; behavioral loyalty refers to continued patronage; composite loyalty is a mix of these two (Hughes,1991; Jacoby & Kyner, 1973)[10,30]. Specifically in tourism field, attitudinal loyalty refers to tourists’ psychological expression such as intention to revisit a destination or recommend to other potential tourists (Backman & Crompton, 1991; Iwaskaki & Havitz, 1998)[31~32]. At operational level, revisit intention and recommendations to others are the most commonly used measured for tourist loyalty (Alcañiz et al., 2009; Horng et al., 2012; Hung & Petrick, 2012)[33~35]. In addition, some scholars think the loyalty to an object or a place develops progressively through a series of inputs, processes and outputs that operate within the hierarchical stages of awareness, attraction, attachment and allegiance (Beaton & Funk, 2008)[36]. Inputs can be external environmental determinants (e.g., destination attributes) and internal determinants (personal and psychological) that influence the evaluation of stimuli. Outputs are related to the degree of attitude formation (e.g., beliefs, feelings, intentions) and change towards a tourism destination.With this, attitudes are said to influence, explain, and predict consumer behavior (Zhang et al 2014)[28]. Researches on consumers done by scholars (Ellen, Mohr, & Webb, 2000; Sen & Bhattacharya, 2001)[37~38] have elaborated on the cognitive processing idea by showing that awareness of social variables can influence consumer attitudes. Revisit intention is one of the outcomes, referring to tourist willingness or plans to visit the same destination again (Cole & Scott, 2004)[39]. Word of mouth or knowledge transmission is another, referring to any positive or negative statement made by potential, actual, or former customers about a product or company, which is made available to a multitude of people and institutions (Litvin et al., 2008)[40]. Some scholars (Ajzen&Fishbein, 1980)[41] argue that the decision regarding the future intentions of consuming a product is more salient than the actual consumption of the product. Social psychology research focusing on predicting consumer behaviors has proposed that behavioral intentions mediate the impact of attitudes, social norms and perceived behavioral control (i.e. people’s perceptions of their ability to engage in a behavior) on behavior (Fishbein & Ajzen, 1975; Ajzen, 1985)[42~43]. Beerli and Martin (2004)[44] state that word of mouth, derived from sources such as friends or family, is regarded as the most trustable and truthful communication channel…
136it can greatly affect the formation of some components of image perceptions of a destination. William and Soutar (2009)[45] argue that this is important in tourism since it relies on positive word-of-mouth for new business. Hutchinson, Lai and Wang (2009)[46] further prove that tourists who have revisit intentions are more likely to recommend the destination to others. Liu and Jang (2009)[47] use word-of mouth, recommendation, and repeat purchase as indicators in their investigation of post-dining behavioral intentions and found they were intimately related. Baloglu and McCleary (1999)[15] report that word of mouth recommendations from friends and relatives are the most important source in forming tourist image. In addition, a positive destination image evaluation can stimulate positive behavioral intentions to return, while a negative destination image would constrain positive behavioral intentions and dissatisfied tourists will abandon revisit plans (Chen & Funk, 2007)[48]. Thus, it is hypnotized that:The destination loyalty is positively affected by the cognitive destination image (H3).The destination loyalty is positively affected by the affective destination image (H4). 1.3 Event and Destination LoyaltyDestinat ion and event organizat ions are concerned with the reasons underlying tourist revisit intention, because the cost of retaining repeat visitors is much less than that of attracting new visitors (Um et al., 2006)[49].The present research uses the theory of planned behavior as a framework for understanding whether tourists will have revisit intentions and how much the intentions will be affected by watching or attending events. Intention is strongly related to behavior (Sheeran, 2002)[50], and hence it is assumed that if intention can be predicted, behavior can also be predicted, which will be a very important direction for marketing planning (Donald et al, 2014)[51].The theory of planned behavior (TPB) is an established theoretical model of explaining the relationship between consumers’ beliefs, attitudes, intentions, and behaviors (Ajzen, 1985)[43]. Under TPB, measures of attitude, subjective norm, and perceived behavioral control (PBC) are used to predict behavioral intention (Figure 1). Fig. 1 Schematic Representation of TPB (Ajzen, 1985).The TPB views behavioral intention as the immediate determinant of the corresponding overt action. Intentions capture the motivational factors that influence a behavior, and are indicators of how hard people are willing to try, or of how much effort they are planning to exert, in order to perform the behavior (ibid). Therefore, the research assumes: The destination loyalty is positively affected by event perception (H5).2 MethodologyWithin a quantitative methodology, primary data are collected using the methods of scientific experimentation, modeling, mathematical formulae and questionnaires (ibid). The questionnaire is intended to examine tourists’ image on events they attended and reaction to event significance as well as how much the hallmark event is the purpose of their visit. All the instructed items are derived from Andereck & Vogt, 2000; Deccio & Beloglu, 2002; Uyal, Gahan & Martin, 1993[52~54]. The research takes probability samples to ensure its accuracy. In order to ensure the accuracy of samples among the whole target event tourists, the research population for this study consisted of hallmark event tourists at the leaving halls of airport, jet foil and border and six selected most visited tourism spots in Macao, which are, Ruins of St. Paul’s, A-Ma Temple, Senado Square, the Golden Lotus Square, Macao Fisherman’s Wharf and the Venetian. The sampling is purposive, only those tourists who have watched or attended any hallmark events in this trip or before are involved. So, before interviewees do the questionnaire, two
137Ye XU A Study on the Interrelationships Among Event Perception, Destination Image and Destination Loyalty in Macaoscreening questions aiming to distinguish tourists or residents and event tourist or non-event tourist are asked. Finally, in the face to face interview conducted on the four weekends from April 5 to April 27, 420 samples were distributed and a total number of 401(95.48 %.) were proved valid.3 Data AnalysisAmong all the valid samples, 56.9% are female visitors and 43.1% are male visitors. The age group most represented among the tourists is 25-34 (37.7%). 18-24(35.2%) and 35-44(16.7%) ranked the second and third. In other words, the tourists between the age of 18 and 44 are the biggest proportion, which accumulated to 89.6%. The majority of these tourists had achieved university education (60.8%), indicating that Macao tourists are generally well educated or they have acquired a good knowledge basis to understand or appreciate cultural events. In terms of the discretionary income per month, 2000-3999 was chosen by 103 respondents (25.7%); 4000-6999 was the choice of 96 respondents (23.9%) and over 13000 was selected by 65 interviewees (16.2%). The investigated target tourists scattered from staff members (36.4%), students (20.0 %) and civil servants (11.2%). Similar to the data from DSEC bureau, visitors from mainland of China accounted for the highest percentage (87.5%). But oversea visitors, with the potential increase accounted for 5.5% and Hong Kong tourists were 4.2%.Table 1 demonstrates the basic attitude visitors show to the hallmark events. In the listed 16 hallmark events, respondents totally gave 931, 686 and 629 answers when asked events they attended or watched, the most influential events and the most interesting events. Macao Food Festival (21.7%), Fireworks Display( 12.7%) and Grand Prix (10.2%) are the first three events tourists have watched or attended, while the City Fringe ranks the last (0.8%). When asked what events are the most influential in promoting Macao image, Grand Prix (16.8%), Food Festival (13.7%) and Fireworks Display still rank the first three. In addition, with 151 frequencies, Food Festival(24%) is regarded as the first event that can attract visitor’ interests. Besides, Grand Prix (11.4%), Music Festival (11%), Movie festival (10%) and Fireworks Display(10%) have the equivalent positions in arousing visitors interests.TaAle 1 A General Understanding of Hallmark EventsMeasuresattended influential interestedNo. Per% No. Per% No. Per%Arts 70 7.5 59 8.6 54 8.6Movie 57 6.1 62 9.0 63 10.0Volleyball 25 2.7 31 4.5 21 3.3Music 60 6.4 54 7.9 69 11.0Lusofonia 52 5.6 26 3.8 29 4.6City Fringe 7 0.8 12 1.7 8 1.3A-Ma 51 5.5 49 7.1 36 5.7Latin Parade 16 1.7 14 2.0 16 2.5Lotus 19 2.0 16 2.3 11 1.7Dragon Boat 47 5.0 33 4.8 12 1.9Fireworks 118 12.7 67 9.8 63 10.0Golf 9 1.0 15 2.2 6 1.0Food 202 21.7 94 13.7 151 24.0GrandPrix 95 10.2 115 16.8 72 11.4Marathon 29 3.1 35 5.1 16 2.5Others 74 7.9 4 0.6 2 0.3Total 931 100 686 100 629 100In order to clarify visitors’ purposes of attending or watching events, they are required to tick the answers that can best express their true initiatives (Table 2). TaAle 2 Purposes of Attending EventsPurposes Frequency Percentage%Novelty 146 20.1Socialization 43 5.9Prestige/ status 8 1.1Rest/Relaxation 303 41.6Education Value/ Intellectual Enrichment101 13.9Family/Friend Togetherness 71 9.8Regression 40 5.5Others 16 2.2Total 728 100Table2 demonstrates their purposes of attending events. Obviously, a big proportion of respondents
138(41.6%) think relaxing/rest is their primary purpose. Novelty (20.1%) ranks secondly and Education Value/ Intellectual Enrichment thirdly (13.9%). In a word, Macao visitors are intended to relax themselves, experience a different destination and rich their knowledge simultaneously in a trip. Thus, it is essential for tourist destinations in a similar position to be oriented towards those market segments whose motivations are those of rest, relaxation, stress relief and escape from the daily routine.Reliability of the measures in this thesis was first assessed using Cronbach’s (1951)[55] coefficient alpha and then using confirmatory factor analysis (CFA). Based on these assessments, measures used within this research are within the acceptable levels supporting the reliability of the constructs (Table 3).TaAle 3 ReliaAility Analysis ResultsVariables Cronbach αEvent Perception 0.885Cognitive Destination Image 0.903Affective Destination Image 0.826Destination Loyalty 0.865Meanwhile, convergent validity is scaled by t-tests for factor loadings. The t-test results are significant, indicating that all indicators are effectively measuring the same construct (Anderson & Gerbing, 1988)[56]. It is found that composite values are over 0.6 and their average variances extracted are over 0.7. It proves the acceptance of each model.The assessment of model fit for the overall measurement model was done to portray the extent to which the hypothesized constructs included in the current model is adequately represented by specified manifest indicators (Ping, 2010)[57]. In addition to the goodness-of-it indices which have been employed to test the measurement model for individual construct, for instance, NFI, RFI, IFI and TLI, fit indexes that were generated by LISREL9.0 were used in the assessment of overall measurement model. In Table 4, the fit indexes are consistent with the most widely adopted dimensions for classifying fit indexes (Bollen, 1989a)[58]. These statistical data provides a reasonably adequately fit to the overall model, suggesting that the hypothesized or original model is entirely adequate. Specifically, the chi-squre/df ratio 1.88, has met the recommended criterion of being less than 2, indicating acceptable fit to the data (Wheaton et al, 1977)[59]. Secondly, all the values of NFI, RFI, IFI, TLI, CFI and GFI are below the suggested criterion of 1.00 (Byrne, 1998)[60]. Thirdly, the root mean square error of approximation (RMSEA) value for the hypothesized model is .045 and the p value for the test of closeness of fit equals to 0.00. In other words, the RMSEA figure is less than suggested value of .01 for outstanding fit to the data.TaAle 4 Index of Goodness of Fit of ModelChi-square 172.862df 95X²/df 1.88P-value 0.00NFI 0.962RFI 0.952IFI 0.982TLI 0.978CFI 0.982GFI 0.95RMSEA 0.045TaAle 5 Path Model of CorrelationsPath Hypo Estimates T-value SupportEP→CI H1 0.691 13.038*** YEP→AI H2 0.177 3.034** YCI→DL H3 0.226 2.725** YAI→ DL H4 0.304 4.529*** YEP→DL H5 0.304 4.950*** Y*** P < 0.001, ** P < 0.01, * P < 0.05 Y = supported ; N = not supportedAnother coefficient estimated in the measurement model is the correlation among the four constructs (Table5). From Table 5, the four variables: event perception (E.P.), cognitive destination image (C.I.), affective destination image (A.I.) and destination loyalty (D. I.) are proved positively related. And in Table 6, the t value for all obtained correlations proved to be statistically significant at the significance level
139Ye XU A Study on the Interrelationships Among Event Perception, Destination Image and Destination Loyalty in Macaoof .01. The entire five hypotheses are confirmed (Table 6). In general, tourists’ event perception can positively affect their destination image and destination loyalty while positive destination images can always stimulate their revisit intention and word of mouth. Under demographic category, except places of origin and gender, no other information is relevant with event perception and destination loyalty. It coincides with the finding of Beerli & Martin (2004)[44], who think “The country of origin was the socio-demographic characteristic exerting most influence on the cognitive and affective components of image.”4 ConclusionsEvents or festivals, originally local celebrations can become international attractions for a destination. But the elements and processes by which such events have become influential are always ignored in literature. The study depicts the event components in detail and brings the event importance to the forefront by attaching it with refreshing destination image. Findings suggest events may engage in “exports” by attempting to attract external audiences to a local setting. And a distinct path of outward or inward internationalization may emerge as the festival increases engagement with external markets. In addition, this research provides information on the different image or event preferences in terms of their age, gender, place of origin, education background, etc., thereby facilitating the creation of various image promotional strategies for the destination or event geared toward different market segments. In addition, closer examination of the marketing efforts and activities presented in this study may provide more detailed information and useful sources of managerial applications, because the incorporation of marketing concepts and competitive development strategies may help to enhance destination competitiveness (Bordas, 1994; Kozak, 2001; Poon, 1994)[61~63]. Hallmark event perception can positively affect tourist destination loyalty, including revisit intention and word of mouth. That is, the visitors who have positive perceptions of hallmark events are likely to revisit Macao or recommend it to friends or relatives. Results suggest that convergent and divergent destination marketing strategies could be adopted (Beaton & Funk, 2009)[36]. Since most attributes of hallmark event perception and destination image are perceived important, convergent strategies should be designed to promote the attributes that are thought highly of. For example, enriching the racing programs of Grand Prix, further improve the venue environment TaAle 6 Correlations for Overall Measurement ModelMean s.t 1 2 3 4 5 6 7 8 9 10 11 121.gen 1.569 0.496 2.age 3.030 1.060 -0.129* 3.edu 2.985 0.713 -0.026 -0.131** 4.inco 3.336 1.623 -0.239** 0.341** 0.298** 5.occu 4.438 2.368 -0.134** 0.208** -0.037 0.192** 6.ori 1.249 0.748 -0.076 0.096 0.119* 0.165** 0.081 7.party 2.43 0.697 0.182** -0.190** 0.017 -0.108* 0.003 -0.050 8.len 1.776 1.197 0.026 0.133** 0.018 0.062 -0.095 -0.008 -0.087 9.EP 3.994 0.723 0.101* 0.015 -0.011 0.021 0.009 -0.069 0.039 0.037 10.CI. 3.932 0.621 0.084 -0.004 -0.008 0.007 0.006 -0.110* 0.039 0.023 0.630** 11.AI. 3.957 0.556 0.110* -0.044 -0.057 -0.105* 0.002 -0.126* 0.021 0.003 0.576** 0.720** 12.DL 4.123 0.760 0.047 0.069 -0.096 0.066 -0.017 -0.136** -0.046 0.073 0.601** 0.657** 0.654****. Significant at the p<0.01 level (two-tailed)E.P: event perception C.I: cognitive destination image ; A.I: affective destination image D.L: destination loyalty
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Journals of Tourism, 2009, 4, 25-30.兩岸四地澳科大社會服務隊赴台考察交流為深入認識台灣大學生義工現狀，考察台灣社區服務以及學習環保知識相關項目的發展，澳門科技大學社會服務隊7月組成“台灣考察交流團”。是次活動得到澳門基金會贊助，並由學生事務處譚潔玲老師、侯芝韻老師帶領學生，一行16人前往台灣進行為期四天的考察交流。交流團分別參訪了青年生涯規劃工作坊、文山社區、慈濟環保教育站、台北市政府消防局防災科學館等。
142第 9 卷 第 2 期 澳 門 科 技 大 學 學 報 Vol.9 No.22015 年 12 月 30 日 Journal of Macau University of Science and Technology Dec 30, 2015 Cu2+螯合紫外分光光度法測定煙樨中總黃酮 及其抗氧化初步研究梁健生1，許世強1，程春松1，2，劉智祖1，盧智鷴1，2，張志鋒1，2*（1. 澳門科技大學中醫藥學院，澳門； 2. 中藥質量研究重點實驗室（澳門科技大學），澳門）摘要： 為了探索澳門本地居民常用中藥食材的使用內涵，並建立科學、簡便的品質控制方案。以煙樨為例，首次探索建立了Cu2+螯合紫外分光光度法測定槲皮素的技術方案，並比較了在不同提取方式下，其DPPH抗氧化活性和體外自由基清除率。最終，試驗表明煙樨具有良好的抗氧化活性，並且水溶條件下效果更好，這一點同澳門本地食用鮮藥方式一致。通過實驗摸索，認為在嚴格控制好操作要點的前提下，利用Cu2+螯合紫外分光光度法測定總黃酮可以作為煙樨科學、簡便的品質控制方案。基於該研究結論，我們同時對澳門鮮藥市場管理和品質控制提出了可行性建議。關鍵詞： 煙樨；Cu2+； DPPHDetermination of Total Flavonoids Using Copper Ion Complex UV Spectrophotometer and Preliminary Study on the Anti-oxidation Activity of Pluchea indica (Linn.) Less.Jiansheng LIANG1, Shiqiang XU1, Chunsong CHENG1,2, Chichou LAO1, Chihan LOU1, Zhifeng ZHANG1,2*( 1. Faculty of Chinese Medicine, Macau University of Science and Technology, Macau,China )( 2. State Key Laboratory of Quality Research in Chinese Medicine (Macau University of Science and Technology), Macau,China )AAstractt: In order to explore connotations of drugs commonly used in Macau local ingredients, and to establish a scientific and simple quality control program, we took the Pluchea indica (Linn.) Less. as an example for the first time, and the determination of the total flavonoids was explored by copper ion complex UV spectrophotometer, and the anti-oxidation of samples which extracted with different methods were studied by using of DPPH. The results showed that P. indica has a good antioxidant activity, and the water extraction showed a better result which is consistent with the Macau local fresh herbs usage. Therefore, we considered that the method of copper ion complex UV spectrophotometer used in this study, is an scientific and simple quality control program to analysis the fresh drugs quality, and the premise is strict controlling of the procedure. According to the results of antioxidant activity, we also have put forward some technical suggestions to standardize and optimize the fresh herb drugs market.eywordst: Pluchea indica; Cu2+; DPPH收稿日期：2015-08-26；修訂日期：2015-09-17。*通訊作者：張志鋒，男，博士，澳門科技大學中醫藥學院副教授，主要研究方向：藥用植物資源及質量評價研究 E-mail: zfzhang@must.edu.mo Tel: 00853-88972431
編輯委員會Editorial Board編委會主席：劉良Chairman of Editorial Board: Liu Liang主編 ：許敖敖Chief Editors: Xu Ao Ao編委：劉良、許敖敖、祈務晨、余秋雨、張志慶、姜志宏、方泉、林偉基、戴龍基、黎曉平、蔡亞從、唐澤聖、陳乃九、龐川、孫立雲、孫建榮Editorial Board Members:Liu Liang, Xu Ao Ao,Keith Robert Barclay Morrison, Yu Qiu Yu, Zhang Zhi Qing, Jiang Zhi Hong, Fang Quan, Lam Wai Kei, Dai Long Ji, Li Xiao Ping, Tsoi Ah Chung, Tang Ze Sheng, Chan Lai Kow, Pang Chuan, Sun Li Yun, Sun Jian Rong澳門科技大學學報Journal of Macau University of Science and Technology主辦單位: 澳門科技大學Organizer: Macau University of Science and Technology編委會主席: 劉良Chairman of Editorial Board: Liu Liang主編: 許敖敖Chief Editors: Xu Ao Ao編輯: 《澳門科技大學學報》編輯部Editor: The Editorial Department, Journal of Macau University of Science and Technology ● 電話： +853-8897-2173 Tel: +853-8897-2173 ● 傳真：+853-2888-0022 Fax: +853-2888-0022 ● 電郵：publication@must.edu.mo E-mail: publication@must.edu.mo ● 地址： 澳門科技大學 澳門氹仔偉龍馬路 Address: Macau University of Science and Technology, Avenida Wai Long, Taipa, Macau出版及總發行：澳門科技大學Publisher & Distribution: Macau University of Science and Technology ● 電話：+853-8897-2166 Tel: +853-8897-2166 ● 電郵：cbpsadmin@must.edu.mo E-mail: cbpsadmin@must.edu.mo ● 地址： 澳門科技大學 澳門氹仔偉龍馬路 Address: Macau University of Science and Technology, Avenida Wai Long, Taipa, Macau 封面及版式設計：高鴻 王港Graphic & Layout Designers: Gao Hong, Wang Gang印刷： 700本Print Run: 700出版日期：2015年12月Issued Date: December 2015國際標準期刊號：ISSN: 1994-4926規格： 21cm×29.7cmSize: 21cm width by 29.7cm height版權所有，翻印必究All rights reserved. No part of the publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, or otherwise, without the prior consent of the publisher.
半年刊 2007年6月創刊第九卷 第二期 2015年12月出版JOURNAL OF MACAU UNIVERSITYOF SCIENCE AND TECHNOLOGYSemiannual, Started in June 2007Vol.9 No.2 December 2015定價: 20元澳門幣(人民幣/港幣)ISSN 1994-4926半年刊Semiannual Vol.9二 一五年 第九卷 第二期JOURNAL OF MACAU UNIVERSITY OF SCIENCE AND TECHNOLOGYVol.9 No.2 December 2015
