First Author:   Chih-hsiang Hsu Department of Finance, Ming Chuan University, Taiwan chadhsu@mail.mcu.edu.tw         Second Author: Ming-sung Kao Department of Finance and International Business, Fu Jen Catholic University, Taiwan. gaums0327@gmail.com   Hsinchuang , Taipei County, Hsinchuang , Taipei County Taiwan , R.O.C., 24205       Third Author: Wei-pen Tsai Department of Finance and International Business, Fu Jen Catholic University, Taiwan wpt@mail.fju.edu.tw