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There is a risk of longevity i.e., the self-funds after retirement may deplete before the end of life. What is needed after retirement is to spend out of self-funds in addition to public pensions while investing self-funds over lifetime without depleting. We analyze a safe withdrawal rate based on varying self-funded amounts every month due to fluctuation in the market. According to this method, there is no longevity risk that self-funds are depleted throughout lifetime.

As climate change and various environmental pollution issues are becoming more serious, many countries are actively promoting energy transition. The Paris Agreement, adopted in 2015, is aimed at curbing the rise in global average temperatures to within 2℃ above pre-industrial levels and limiting temperature rises to 1.5℃ above pre-industrial levels. Taiwan is accelerating its path of energy transition to a "nuclear-free homeland" and “low-carbon economy” by phasing out all nuclear power generation in 2025 and imposing a legally binding goal of reducing coal-fired power generation from 47 percent to 26 percent. This paper investigates the impact of nuclear and coal power regulations on fuel mix CO2 emissions in the power sector by 2050 in Taiwan. Analysis is a future technology shift in the power sector called “Future Technology Transformations; FTT” for the power sector; Consider using the E3ME model linked to FTT: Power sub-model.

The non-efficiency of the government hospital is pointed out. Then, I compare the management in government hospitals and non-government hospitals, and show clearly what kind of difference there is. In this paper, the following things are clear. (1) Clarify the difference from a viewpoint of management in government hospitals and non-government hospitals. (2) Classify government hospitals into two kinds (cites・towns・and villages-hospitals and prefectural hospitals), and clarify the difference from a viewpoint of management. (3) Classify non-government hospitals into eight kind hospitals, and clarify the feature in management.

マーケット・タイミング理論が提唱されて以降，それを巡った実証研究が数多く行われている。しかしながら，実証研究のほとんどは欧米企業を対象として行われ，日本ではその理論がまだ注目されていない。本稿はマーケット・タイミング理論に基づき，株式発行におけるマーケット・タイミング行動に注目し，それに関する実証研究をサーベイする。主な結果は以下の2点である。まず日本企業ではマーケット・タイミング行動の実証的証拠が多いが，マーケット・タイミング行動と資本構成の関係についての実証研究はまだ少ない点である。また，マーケット・タイミング行動の資本構成への影響について，先行研究の結果が分かれており，そして異なる特性を持つ企業では影響効果も異なっている点である。このサーベイを通して，この研究分野の現状と動向を示し，さらなる発展に寄与することを目指す。