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系統識別號 U0002-2807200916442000
中文論文名稱 員工紅利計畫、人力資本與企業績效間之關聯性—以台灣上市櫃電子公司為例
英文論文名稱 The Association among Employee Bonus System, Human Capital, and Firm Performance-The Evidence from Listed Electronic Firms in Taiwan.
校院名稱 淡江大學
系所名稱(中) 會計學系碩士班
系所名稱(英) Department of Accounting
學年度 97
學期 2
出版年 98
研究生中文姓名 邱琬容
研究生英文姓名 Wan-Jung Chiu
學號 696600112
學位類別 碩士
語文別 中文
口試日期 2009-06-16
論文頁數 71頁
口試委員 指導教授-葉金成
中文關鍵字 員工紅利計畫  人力資本  企業績效  員工認股權 
英文關鍵字 employee bonus system  human capital  firm performance  ESOP 
學科別分類 學科別社會科學商學
中文摘要 在知識經濟的時代,知識成為經濟活動中主要的生產要素且是創造企業價值的重要因子,而擁有知識的人力便可視為企業中主要的核心資源,為企業創造獨特的競爭優勢並帶來源源不絕的獲利。本研究以Lepak and Snell (1999) 所提出的四種人力資源型態的其中一種—知識基礎人力為出發點,探討這種高策略價值、高獨特性的人力對企業的重要性,並採2003年至2007年間台灣的上市櫃電子公司樣本為主要研究對象,以有無發行及紅利佔薪資總額比例二種方式,探討該產業中存在的誘因制度如發放現金紅利、股票紅利及員工認股權是否對人力資本的提升有正向的影響,人力資本提升對企業績效是否有正面的影響,並了解人力資本在分紅計畫與企業績效間是否有中介效果存在。實證結果發現,不論以是否有發行及實際比例來看,前一期的現金紅利及股票紅利對於人力資本的各項指標大多有顯著的正向關係,然認股權與人力資本則為負向的關係;而人力資本指標除每人營收外,其他人力資本指標均與企業績效有顯著正向關係;前一期的現金紅利及股票紅利與企業績效均有顯著正向關係,而認股權對企業績效各指標大多為負向關係;人力資本在紅利計畫與企業績效間具有中介效果。
英文摘要 In the knowledge economy era, knowledge is the essential factor of production creating firm value, and the employees with knowledge can be regarded as the core resource and competition advantage to make profit for the firms. This research focus on knowledge-based employees positioned by Lepak and Snell (1999) and discuss the importance of the employees with high strategic value and uniqueness. Moreover, the research use samples from electronic firms listed on the Taiwan Stock Exchange from 2003 to 2007 to realize if the incentives such as cash bonus, stock bonus, and employee stock ownership plan(ESOP) can enhance human capital and if human capital have positive impact on the firm performance and if the intervene effect of human capital between employee bonus system and firm performance exist or not. The empirical results, from the qualitative and quantitative aspects, show that there are significantly positive association between employee bonus system and human capital expect the ESO, and significantly positive association between human capital and firm performance expect net sales per employees. The results also find that cash bonus and stock bonus have significantly positive effects on firm performance while ESO have negative ones. Finally, the research confirms that the intervene effects of human capital between employee bonus system and firm performance do exist.
論文目次 目錄
第壹章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 3
第三節 研究流程與論文結構 4
第貳章 文獻探討與假說建立 6
第一節 人力資本 6
第二節 員工紅利計畫 16
第三節 員工紅利計畫、人力資本與企業績效間之相關研究 23
第參章 研究方法 27
第一節 研究架構 27
第二節 研究假說 28
第三節 變數定義與衡量 31
第四節 實證模型 36
第五節 資料來源、研究對象與期間及樣本概況 39
第肆章 實證結果與分析 42
第一節 敘述性統計分析 42
第二節 相關分析 44
第三節 實證結果與分析 46
第伍章 結論與建議 60
第一節 研究結論 60
第二節 研究限制 62
第三節 研究建議 63
參考文獻 65


圖目錄
圖1 1研究流程圖 5
圖2 1資源特性與持續競爭優勢關係圖 7
圖2 2智慧資本概念圖 8
圖2 3 Skandia 集團的智慧資本架構 9
圖2 4人力資本特性與雇用模式圖 11
圖3 1研究架構圖 27

表目錄
表2-1人力資本定義文獻整理 12
表2-1人力資本定義文獻整理(續) 13
表2-2人力資本衡量指標彙總表 15
表2-2人力資本衡量指標彙總表(續) 16
表2-3員工股票紅利與員工認股選擇權之比較 22
表2-4員工紅利計畫對人力資本影響之相關文獻 23
表2-4員工紅利計畫對人力資本影響之相關文獻(續) 24
表2-5員工紅利計畫與企業績效的相關文獻 26
表3- 1變數名稱及衡量方式彙總表 35
表3- 2樣本產業分佈表 40
表3- 3紅利計畫實施情形 41
表4-1樣本敘述統計量表(N=1845) 43
表4-2變數之Pearson相關係數分析 45
表4-3員工紅利計畫實行對人力資本之影響 47
表4-3 員工紅利計畫實行對人力資本之影響(續) 48
表4-4 紅利佔薪資總額比例對人力資本之影響 49
表4-5 人力資本對企業績效之影響(人力資本為每人營收) 50
表4-6 人力資本對企業績效之影響(人力資本為每人營業利益) 51
表4-7 人力資本對企業績效之影響(人力資本為員工附加價值) 52
表4-8員工分計畫實行與否對企業績效之影響 53
表4-8員工分計畫實行與否對企業績效之影響(續) 54
表4-9 紅利佔薪資總額比例對企業績效之影響 55
表4-10 人力資本對員工紅利計畫與企業績效之中介效果(頒行與否) 57
表4-10 人力資本對員工紅利計畫與企業績效之中介效果(頒行與否)(續) 58
表4-11 人力資本對員工紅利計畫與企業績效之中介效果(佔薪資總額比例) 58
表4-11 人力資本對員工紅利計畫與企業績效中介效果(續) 59

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