第五章 結論與限制
第二節 研究限制與建議
一、研究限制
本研究僅可取得 2007 年 1 到 10 月間的完整資料，因此，受限於這短短 10 個月的觀察資料，仍可能漏掉某些因素，例如景氣循環或重大事件的影響，而導 致偏誤。
受限於資料的細緻度，及本人的技巧，本研究尚無法直接利用現有資訊交易 測度的模型計算私有資訊交易機率，作為更佳的代理變數，以更準確衡量資訊交 易的程度，實為本研究的一大限制。
二、後續研究建議
誠如上述研究限制所言，觀察時期的短暫，仍須有所突破，因此首先建議能 增加資料的取得，相信應可對於研究有更完整的幫助。
不同代理變數的使用也會影響研究成果，建議可運用資訊交易測度的模型，
直接私有資訊交易機率作為的代理變數，可與本研究交互驗證。核心代理問題亦 有多種變數可供衡量，例如席次股份差異、股份盈餘偏離差…等等，後續研究亦 可採用其他代理變數。董事會型態與功能各有不同，若能細分，亦可能有額外發 現。
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