{"id":12725,"date":"2025-02-09T12:48:55","date_gmt":"2025-02-09T04:48:55","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=12725"},"modified":"2025-02-09T12:48:55","modified_gmt":"2025-02-09T04:48:55","slug":"%e5%9b%a0%e5%ad%90%e6%8a%95%e8%b3%87%e5%9f%ba%e6%9c%ac%e9%9d%a2%e5%9b%a0%e5%ad%90%e6%a8%a1%e5%9e%8b%ef%bc%88fundamental-factor-model%ef%bc%89%e6%98%af%e4%bb%80%e9%ba%bc%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=12725","title":{"rendered":"\u56e0\u5b50\u6295\u8cc7\u662f\u4ec0\u9ebc\uff1f\u56e0\u5b50\u6295\u8cc7\u7684\u6700\u65b0\u79d1\u5b78\u57fa\u790e\uff1a\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\uff08fundamental factor model\uff09"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">\u56e0\u5b50\u6295\u8cc7\u662f\u4ec0\u9ebc\uff1f<\/h2>\n\n\n\n<p>\u56e0\u5b50\u6295\u8cc7\uff08Factor Investing\uff09\u5c31\u662f\u628a\u80a1\u7968\u6216\u50b5\u5238\u5e02\u5834\u88e1\u7684\u300c\u914d\u6599\u300d\u627e\u51fa\u4f86\uff0c\u50cf\u898f\u6a21(Size)\u3001\u50f9\u503c(Value)\u3001\u52d5\u80fd(Momentum)\u3001\u54c1\u8cea(Quality)\u7b49\uff0c\u628a\u6295\u8cc7\u7d44\u5408\u62c6\u89e3\u4e26\u8abf\u914d\uff0c\u85c9\u6b64\u9054\u6210\u4f4e\u98a8\u96aa\u3001\u9ad8\u5831\u916c\u6216\u7a69\u5b9a\u6536\u76ca\u7684\u76ee\u6a19\u3002<\/p>\n\n\n\n<p>\u8209\u4f8b\u4f86\u8aaa\uff0c\u82e5\u4f60\u5728\u8abf\u88fd\u4e00\u934b\u6e6f\uff0c\u88e1\u9762\u6709\u9e7d\u3001\u80e1\u6912\u3001\u8591\u3001\u849c\u3001\u6d0b\u8525\u7b49\u300c\u914d\u6599\u56e0\u5b50\u300d\uff0c\u6bcf\u7a2e\u914d\u6599\u90fd\u6703\u5f71\u97ff\u6e6f\u7684\u98a8\u5473\uff0c\u56e0\u5b50\u6295\u8cc7\u80fd\u8b93\u4f60\u91dd\u5c0d\u7279\u5b9a\u7684\u56e0\u5b50\u53bb\u52a0\u6e1b\u78bc\uff0c\u985e\u4f3c\u5eda\u5e2b\u8abf\u5473\u6642\uff0c\u82e5\u559c\u6b61\u91cd\u53e3\u5473\uff0c\u5c31\u591a\u653e\u8fa3\u6912\uff0c\u82e5\u60f3\u6e05\u6de1\uff0c\u5c31\u5c11\u653e\u9e7d\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u56e0\u5b50\u6295\u8cc7\u7684\u79d1\u5b78\u57fa\u790e<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u56e0\u5b50\u6295\u8cc7\u8207\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\u7684\u95dc\u806f<\/h3>\n\n\n\n<p>\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\uff08Fundamental Factor Model\uff09\u5c31\u50cf\u4e00\u5f35\u8a73\u7d30\u7684\u98df\u8b5c\uff0c\u88e1\u9762\u5217\u51fa\u80a1\u7968\u7684\u5404\u7a2e\u300c\u98df\u6750\u6307\u6a19\u300d\uff0c\u4f8b\u5982\u5e02\u503c\u3001\u5e02\u76c8\u7387(P\/E)\u3001\u5e02\u6de8\u7387(P\/B)\u7b49\uff0c\u53bb\u5206\u6790\u548c\u9810\u6e2c\u80a1\u50f9\u98a8\u96aa\u6216\u5831\u916c\u3002<\/p>\n\n\n\n<p>\u56e0\u5b50\u6295\u8cc7\u53ef\u4ee5\u76f4\u63a5\u5957\u7528\u9019\u4e9b\u5206\u6790\u7d50\u679c\uff0c\u5148\u78ba\u5b9a\u54ea\u4e9b\u300c\u98df\u6750\u300d\uff08\u56e0\u5b50\uff09\u6700\u91cd\u8981\uff0c\u7136\u5f8c\u5728\u6295\u8cc7\u7d44\u5408\u88e1\u8abf\u914d\u51fa\u60f3\u8981\u7684\u98a8\u96aa\u8207\u5831\u916c\u300c\u53e3\u5473\u300d\u3002\u63db\u53e5\u8a71\u8aaa\uff0c\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\u63d0\u4f9b\u66f4\u7cbe\u6e96\u3001\u66f4\u91cf\u5316\u7684\u56e0\u5b50\u8cc7\u8a0a\uff0c\u5e6b\u52a9\u4f60\u5728\u9032\u884c\u56e0\u5b50\u6295\u8cc7\u6642\u66f4\u6709\u65b9\u5411\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\uff08fundamental factor model\uff09\u662f\u4ec0\u9ebc\uff1f<\/h2>\n\n\n\n<p>\u60f3\u50cf\u4f60\u5728\u901b\u8d85\u5e02\u6642\uff0c\u770b\u898b\u540c\u6a23\u7684\u860b\u679c\u537b\u6709\u4e0d\u540c\u50f9\u9322\uff0c\u9019\u662f\u56e0\u70ba\u860b\u679c\u6703\u6839\u64da\u7522\u5730\u3001\u5927\u5c0f\u3001\u751c\u5ea6\u3001\u54c1\u724c\u6216\u5305\u88dd\u800c\u5b9a\u50f9\u3002<\/p>\n\n\n\n<p>\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\uff08Fundamental Factor Model\uff09\u7684\u300c\u56e0\u5b50\u300d\u901a\u5e38\u6703\u5305\u542b\u5e02\u503c\u3001\u5e02\u76c8\u7387\uff08P\/E Ratio\uff09\u3001\u5e02\u6de8\u7387\uff08P\/B Ratio\uff09\u3001\u8ca1\u52d9\u69d3\u687f\u7b49\uff0c\u6bcf\u500b\u56e0\u5b50\u5c0d\u6295\u8cc7\u7d44\u5408\u7684\u5f71\u97ff\uff0c<\/p>\n\n\n\n<p>\u8209\u4f8b\u4f86\u8aaa\uff0c\u5c31\u50cf\u628a\u80a1\u7968\u7684\u860b\u679c\u5011\u5206\u9580\u5225\u985e\uff0c\u62c6\u89e3\u51fa\u300c\u662f\u56e0\u70ba\u860b\u679c\u5927\u5c0f\u9020\u6210\u7684\u50f9\u5dee\uff0c\u9084\u662f\u7522\u5730\u6216\u54c1\u724c\u9020\u6210\u7684\u50f9\u5dee\uff1f\u300d\uff0c\u5728\u6295\u8cc7\u4e0a\u5c31\u662f\u627e\u51fa\u4e0d\u540c\u7684\u300c\u56e0\u5b50\u300d\u4f86\u89e3\u91cb\u80a1\u7968\u7684\u98a8\u96aa\u548c\u5831\u916c\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\uff08fundamental factor model\uff09\u7684\u91cd\u8981\u6027<\/h2>\n\n\n\n<p>\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\u7684\u610f\u7fa9\u5728\u65bc\u5b83\u900f\u904e\u591a\u7a2e\u57fa\u672c\u9762\u56e0\u5b50\uff08\u5982\u672c\u76ca\u6bd4\u3001\u8cc7\u7522\u6536\u76ca\u7387\u7b49\uff09\u4f86\u89e3\u91cb\u548c\u9810\u6e2c\u80a1\u7968\u7684\u6536\u76ca\u7387\u3002<\/p>\n\n\n\n<p>\u9019\u7a2e\u6a21\u578b\u7684\u76ee\u6a19\u662f\u5354\u52a9\u6295\u8cc7\u4eba\u548c\u57fa\u91d1\u7d93\u7406\u4eba\u627e\u51fa\u5f71\u97ff\u6295\u8cc7\u5831\u916c\u7387\u7684\u4e3b\u8981\u9a45\u52d5\u56e0\u7d20\uff0c\u597d\u6bd4\u627e\u860b\u679c\u5230\u5e95\u662f\u751c\u4e0d\u751c\u6bd4\u8f03\u91cd\u8981\uff0c\u9084\u662f\u5916\u89c0\u6f02\u4e0d\u6f02\u4eae\u66f4\u91cd\u8981\u3002<\/p>\n\n\n\n<p>\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\uff08fundamental factor model\uff09\u5c0d\u98a8\u96aa\u7ba1\u7406\u4e5f\u5f88\u91cd\u8981\uff0c\u56e0\u70ba\u5b83\u80fd\u5e6b\u52a9\u6295\u8cc7\u4eba\u5340\u5206\u300c\u5e02\u5834\u6574\u9ad4\u98a8\u96aa\u300d\u548c\u300c\u57fa\u672c\u9762\u56e0\u5b50\u98a8\u96aa\u300d\u3002\u7576\u4f60\u77e5\u9053\u4e86\u54ea\u4e9b\u56e0\u5b50\u6700\u80fd\u9a45\u52d5\u80a1\u50f9\u6ce2\u52d5\uff0c\u5c31\u80fd\u6839\u64da\u9019\u4e9b\u56e0\u5b50\u53bb\u8abf\u6574\u6295\u8cc7\u7b56\u7565\uff0c\u907f\u958b\u4e0d\u60f3\u627f\u64d4\u7684\u98a8\u96aa\uff0c\u6216\u662f\u52a0\u78bc\u4f60\u770b\u597d\u7684\u56e0\u5b50\u3002<\/p>\n\n\n\n<p>\u76ee\u524d\uff0c\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\u5df2\u88ab\u8a31\u591a\u6a5f\u69cb\u6295\u8cc7\u8005\u61c9\u7528\u65bc\u91cf\u5316\u6295\u8cc7\uff08Quantitative Investing\uff09\u8207ETF\u7b56\u7565\uff0c\u5982DFA\uff08Dimensional Fund Advisors\uff09\u3001BlackRock\u7684Smart Beta ETF\u7b49\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\uff08fundamental factor model\uff09\u662f\u8ab0\u767c\u660e\u7684\uff1f<\/h2>\n\n\n\n<p>\u56e0\u5b50\u6a21\u578b\uff08Factor Model\uff09\u6982\u5ff5\u53ef\u4ee5\u8ffd\u6eaf\u81f3Sharpe (1964)\u5c0d\u55ae\u56e0\u5b50CAPM\u7684\u8ca2\u737b\uff0c\u7531\u65bcCAPM\u8cc7\u672c\u8cc7\u7522\u5b9a\u50f9\u6a21\u578b\uff08Capital Asset Pricing Model\uff09\u7684\u524d\u63d0\u5047\u8a2d\u592a\u904e\u7406\u8ad6\u8207\u56b4\u82db\uff0c\u7f8e\u570b\u7d93\u6fdf\u5b78\u8005 Stephen Ross \u5728 1970 \u5e74\u4ee3\u63d0\u51fa\u7684APT\u5957\u5229\u5b9a\u50f9\u6a21\u578b\uff08Arbitrage pricing Theory\uff09\uff0c\u5176\u6838\u5fc3\u601d\u60f3\u662f\u5e02\u5834\u5831\u916c\u53ef\u7531\u591a\u7a2e\u300c\u56e0\u5b50\u300d\u6240\u89e3\u91cb\u3002<\/p>\n\n\n\n<p>\u57fa\u790e\u6982\u5ff5\u53ef\u8ffd\u6eaf\u81f3\u7f8e\u570b\u7d93\u6fdf\u5b78\u8005 Stephen Ross \u5728 1970 \u5e74\u4ee3\u63d0\u51fa\u7684APT\u5957\u5229\u5b9a\u50f9\u6a21\u578b\uff08Arbitrage pricing Theory\uff09\uff0c\u5176\u6838\u5fc3\u601d\u60f3\u662f\u5e02\u5834\u5831\u916c\u53ef\u7531\u591a\u7a2e\u300c\u56e0\u5b50\u300d\u6240\u89e3\u91cb\u3002<\/p>\n\n\n\n<p>\u771f\u6b63\u5c07\u56e0\u5b50\u6a21\u578b\u5927\u91cf\u61c9\u7528\u65bc\u6295\u8cc7\u5be6\u52d9\u4e26\u4ee5\u300c\u57fa\u672c\u9762\u300d\u70ba\u51fa\u767c\u7684\uff0c\u5247\u662f\u91d1\u878d\u7814\u7a76\u6a5f\u69cb BARRA\uff08\u7531 Barr Rosenberg \u5275\u7acb\uff09\u65bc 1980 \u5e74\u4ee3\u6240\u63a8\u5ee3\u3002\u4ed6\u5011\u5c07\u4f01\u696d\u8ca1\u5831\u53ca\u57fa\u672c\u9762\u6307\u6a19\uff0c\u7cfb\u7d71\u5316\u5730\u8f49\u5316\u6210\u53ef\u4ee5\u91cf\u5316\u8a55\u4f30\u7684\u98a8\u96aa\u8207\u5831\u916c\u56e0\u5b50\uff0c\u5f62\u6210\u4eca\u5929\u8a31\u591a\u6295\u8cc7\u6a5f\u69cb\u5728\u4f7f\u7528\u7684\u300c\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\u300d\u3002<\/p>\n\n\n\n<p>\u6b64\u5f8c\uff0cEugene Fama \u548c Kenneth French \uff081992\u5e74\uff09\u4e5f\u63d0\u51fa\u4e86\u8457\u540d\u7684 Fama-French\u4e09\u56e0\u5b50\u6a21\u578b\uff08\u5f8c\u4f86\u64f4\u5145\u5230\u4e94\u56e0\u5b50\u3001\u516d\u56e0\u5b50\uff09\uff0c\u5176\u4e2d\u5c31\u5305\u542b\u5e02\u503c\u8207\u5e33\u9762\u5e02\u503c\u6bd4\u7b49\u300c\u57fa\u672c\u9762\u300d\u7279\u8cea\uff0c<\/p>\n\n\n\n<p>\u5f8c\u4f86<strong>Mark Carhart\uff081997\uff09<\/strong>\u52a0\u5165\u4e86<strong>\u52d5\u80fd\u56e0\u5b50\uff08Momentum\uff09<\/strong>\uff0c\u64f4\u5c55\u70ba\u300c\u56db\u56e0\u5b50\u6a21\u578b\u300d\uff0c\u66f4\u9032\u4e00\u6b65\u89e3\u91cb\u8cc7\u7522\u5831\u916c\u7684\u4f86\u6e90\u3002<strong>Robert Novy-Marx\uff082013\uff09<\/strong>\u767c\u73fe\u300c\u76c8\u5229\u80fd\u529b\uff08Profitability\uff09\u300d\u8207\u9577\u671f\u56de\u5831\u5bc6\u5207\u76f8\u95dc\uff0c\u70ba\u5f8c\u4f86\u7684\u300c\u4e94\u56e0\u5b50\u6a21\u578b\uff08Fama-French Five-Factor Model\uff09\u300d\u5960\u5b9a\u57fa\u790e\uff0c\u9032\u4e00\u6b65\u62d3\u5c55\u4e86\u56e0\u5b50\u6a21\u578b\u5728\u5b78\u8853\u754c\u8207\u5be6\u52d9\u754c\u7684\u5f71\u97ff\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\uff08fundamental factor model\uff09\u7684\u512a\u7f3a\u9ede<\/h2>\n\n\n\n<p><strong>\u512a\u9ede<\/strong>\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u80fd\u5920\u805a\u7126\u516c\u53f8\u7279\u5fb5\uff0c\u5354\u52a9\u6295\u8cc7\u4eba\u627e\u5230\u88ab\u4f4e\u4f30\u6216\u662f\u9ad8\u6210\u9577\u6f5b\u529b\u7684\u6a19\u7684\u3002<\/li>\n\n\n\n<li>\u5e6b\u52a9\u6295\u8cc7\u7d44\u5408\u7d93\u7406\u4eba\u66f4\u7cbe\u7d30\u5730\u7ba1\u63a7\u98a8\u96aa\uff0c\u7406\u89e3\u7576\u5e02\u5834\u767c\u751f\u67d0\u4e9b\u4e8b\u4ef6\u6642\uff0c\u54ea\u4e9b\u516c\u53f8\u7279\u8cea\u66f4\u5bb9\u6613\u53d7\u5230\u6ce2\u52d5\u3002<\/li>\n<\/ul>\n\n\n\n<p><strong>\u6f5b\u5728\u9650\u5236<\/strong>\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u56e0\u5b50\u6a21\u578b\u662f\u7d71\u8a08\u5de5\u5177\uff0c\u4ecd\u6703\u53d7\u5230\u6b77\u53f2\u6578\u64da\u7684\u9650\u5236\uff0c\u672a\u5fc5\u80fd\u6e96\u78ba\u9810\u6e2c\u672a\u4f86\u3002<\/li>\n\n\n\n<li>\u82e5\u592a\u591a\u4eba\u540c\u6642\u4f7f\u7528\u76f8\u540c\u7684\u56e0\u5b50\uff0c\u5e02\u5834\u53ef\u80fd\u6703\u8fc5\u901f\u8abf\u6574\u50f9\u683c\uff0c\u4f7f\u9019\u4e9b\u56e0\u5b50\u7684\u8d85\u984d\u5831\u916c\u4e0b\u964d\u3002<\/li>\n\n\n\n<li>\u5982\u679c\u57fa\u672c\u9762\u56e0\u5b50\u9078\u5f97\u4e0d\u4f73\u6216\u66f4\u65b0\u4e0d\u53ca\u6642\uff0c\u53ef\u80fd\u6703\u932f\u5931\u5e02\u5834\u65b0\u8b8a\u5316\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">\u7e3d\u7d50<\/h2>\n\n\n\n<p>\u57fa\u672c\u9762\u56e0\u5b50\u6a21\u578b\u900f\u904e\u4e0d\u540c\u7684<strong>\u53ef\u91cf\u5316\u8ca1\u52d9\u6578\u64da<\/strong>\u4f86\u89e3\u91cb\u80a1\u7968\u7684\u98a8\u96aa\u8207\u5831\u916c\uff0c\u5e6b\u52a9\u6295\u8cc7\u8005\u512a\u5316\u6295\u8cc7\u6c7a\u7b56\u3002\u5b83\u7684\u767c\u5c55\u6e90\u81ea\u73fe\u4ee3\u6295\u8cc7\u7406\u8ad6\uff0c\u4e26\u53d7\u5230Fama &amp; French\u7b49\u5b78\u8005\u7684\u63a8\u52d5\uff0c\u5982\u4eca\u5df2\u6210\u70ba\u91d1\u878d\u6a5f\u69cb\u8207\u91cf\u5316\u57fa\u91d1\u7684\u91cd\u8981\u5de5\u5177\u3002<\/p>\n\n\n\n<p>\u963f\u723e\u767c\u8207\u7368\u5bb6\u651c\u624b\u56e0\u5b50\u6295\u8cc7\u9818\u57df\u7684\u5148\u9a45DFA\uff08Dimensional Fund Advisors\uff09\uff0c\u63a8\u51fa\u300c<a href=\"https:\/\/roboadvisor.com.tw\/Portfolios.html?Camp=dfa\" target=\"_blank\" rel=\"noopener\" title=\"\">\u963f\u723e\u767c\u56e0\u5b50\u6295\u8cc7\u7d44\u5408<\/a>\u300d\uff0c\u4ee5\u56b4\u8b39\u7684\u5b78\u8853\u6578\u64da\u5206\u6790\u548c\u7d93\u6fdf\u5b78\u7406\u8ad6\uff0c\u7cbe\u9078\u517c\u5177\u7a69\u5b9a\u6027\u8207\u6210\u9577\u6f5b\u529b\u7684\u6295\u8cc7\u6a19\u7684\uff0c\u642d\u914d\u9ad8\u6548\u80fd\u8cc7\u7522\u7ba1\u7406\u65b9\u6cd5\uff0c\u6839\u64da\u4f60\u7684\u6295\u8cc7\u76ee\u6a19\u548c\u98a8\u96aa\u504f\u597d\u9748\u6d3b\u8abf\u6574\u914d\u7f6e\uff0c\u70ba\u4f60\u6253\u9020\u8207\u5e02\u5834\u6ce2\u52d5\u5171\u821e\u7684\u9577\u671f\u8ca1\u5bcc\u589e\u9577\u65b9\u6848\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n\n\n<h2 class=\"wp-block-heading\">\u53c3\u8003\u8cc7\u6599<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>CFA Institute. CFA Program Curriculum Level I: Equity and Fixed Income. (2020).<\/li>\n\n\n\n<li>Fama, Eugene F., and Kenneth R. French. &#8220;Common Risk Factors in the Returns on Stocks and Bonds.&#8221; Journal of Financial Economics 33, no. 1 (1993): 3\u201356.<\/li>\n\n\n\n<li>Sharpe, William F. &#8220;Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk.&#8221; The Journal of Finance 19, no. 3 (1964): 425\u2013442.<\/li>\n\n\n\n<li>Rosenberg, Barr, and Vinay Marathe. &#8220;Tests of Capital Asset Pricing Hypotheses.&#8221; Research Foundation of the Institute of Chartered Financial Analysts, 1976.<\/li>\n\n\n\n<li>Rosenberg, B. &amp; Marathe, V. (1976). <em>Common Factors in Security Returns: Microeconomic Determinants and Macroeconomic Correlates<\/em>. <em>The Journal of Financial and Quantitative Analysis<\/em>, 11(2), 361\u2013394.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u56e0\u5b50\u6295\u8cc7\u662f\u4ec0\u9ebc\uff1f \u56e0\u5b50\u6295\u8cc7\uff08Factor Investing\uff09\u5c31\u662f\u628a\u80a1\u7968\u6216\u50b5\u5238\u5e02\u5834\u88e1\u7684\u300c\u914d\u6599\u300d\u627e\u51fa\u4f86\uff0c\u50cf\u898f\u6a21( [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":12727,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-12725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-30"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"_links":{"self":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/12725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12725"}],"version-history":[{"count":0,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/12725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/media\/12727"}],"wp:attachment":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}