First Author:   Yen-Hsien Lee Department of Finance, Vanung University, 1 Van-Nung Road, Chung-Li, Tao-Yuan (32061), Taiwan, Republic of China yenhsien@msa.vnu.edu.tw         Second Author: Chien-Liang Chiu Department of Banking & Finance, Tamkang University, 151 Ying-Chuan Road, Tamsui 251, Taipei County, Taiwan, Republic of China 100730@mail.tku.edu.tw