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This edition of
NTU Management Review
contains ten research papers and the keynote
speech delivered by Prof. Norio Kambayashi at the Management Theory and Practice
Conference in 2016. Special thanks go to Prof. Kambayashi from the Graduate School of
Business Administration, Kobe University, Japan. He generously shares his speech with us,
titled as
Changing Japanese Management? A Discussion of the Development of Work-Life
Balance in Japan
. His insight in work-life conflict and balance is greatly appreciated.
Among the ten research papers, after a rigorous review process seven of them are
chosen — from the call for paper on “Service Science: Innovation, Design, Management,
Sustainability and Competitive Advantage”, announced in December of 2013 by guest
editors Prof. Chen Houn-Gee, Prof. Lin Fu-Ren, and Prof. Ku Yi-Cheng. The editors
summarized the contribution of each article in a separate note.
Another two papers are among the series of review articles that commemorate the 25
th
anniversary of this journal. Based on the TSSCI journal articles published after the year
2000, the first paper reviews the existing literature for pricing and hedging derivatives in
Taiwan. The pricing literature is classified in terms of (1) the underlying assets studied, (2)
the types of financial derivatives, (3) the pricing models adopted, and (4) the pricing
methods employed. The hedging studies are classified as futures hedging and options
hedging, respectively. Finally, the arbitrage research in Taiwan covers the Intra- and Inter-
market arbitrage strategies, information transmission efficiency, etc. This second paper
reviews the empirical research on audit quality in Asia markets, which focuses on papers
published in the A+ and A Tier 1 accounting journals, ranked by Ministry of Science and
Technology, from 2000 to 2015. The paper includes four parts: the introduction of major
capital markets and audit markets in Asia, the definitions and proxies of audit quality used in
the literature, and the cross-country and single country audit quality research from the
perspectives of audit demand, audit supply as well as the effects of regulatory intervention.
The authors conclude the paper by assessing the challenges and limitations of cross-country
research, analyzing the factors that make single-country research popular, and providing
future research avenues in audit quality for Asian countries.
The last paper in this edition is authored by the winner of the Best Master’s Thesis
Award sponsored by T. N. Soong Foundation. This paper examines the factors that affects a
firm’s use of stocks and stock options to remunerate audit committee members, in response
to the controversy around the rising use of equity-based compensation for audit committee
Editor’s Note