First Author:   Chia-Cheng Ho Department of Finance, National Chung Cheng University fincch@ccu.edu.tw   168, University Rd., Min-Hsiung Chia-Yi, 621, Taiwan   +11-886-5-2720411(Phone) +11-886-5-2720411(Fax) Second Author: Su-Yin Cheng Department of Finance, National Chung Cheng University s2864121@ms32.url.com.tw   168, University Rd., Min-Hsiung Chia-Yi, 621, Taiwan   +11-886-5-2720411(Phone) +11-886-5-2720818(Fax) Third Author: Han Hou Department of Finance, National Chung Cheng University hans.hou0503@msa.hinet.net   168, University Rd., Min-Hsiung Chia-Yi, 621, Taiwan   +11-886-5-2720411(Phone) +11-886-5-2720818(Fax)