企業為使自身具有競爭力，需要聘請有專業能力之經理人管理公司，在人力市場具備經營管理能力之經理人鮮少，企業不惜提高薪資網羅所需人才，進而擴大經理人與基層員工之薪資差距。因此，本研究旨在探討薪資差距與企業經營績效之關聯性，同時也探討薪資差距與企業財務風險之關聯性。本研究以台灣上市、櫃企業為研究對象，並蒐集其自 2019至 2020 年之相關資訊，共計 1360筆觀察值，並以迴歸結果進行分析。
    本文將薪資差距區分為垂直薪資差距與水平薪資差距，透過統計迴歸分析實證結果發現，不論是垂直薪資差距或是水平薪資差距，皆與企業經營績效呈現顯著正相關。除此之外，不論是垂直薪資差距或是水平薪資差距，皆與企業財務風險呈現顯著負相關。因此，就本研究之結果了解企業可透過適當的薪資差距對企業績效產生正向影響力，同時經理人將更注重企業財務風險，不願意企業承擔過於冒險的發展，而是傾向較為穩健保守的營運方式，降低錯誤決策的機率，如此一來將可鞏固其高階經理人職位。

  In order to make themselves competitive, companies need to hire managers with professional abilities to manage their companies. In the labor market, there are few managers with management skills, so companies are not hesitant to raise their salaries to recruit the required talents, which in turn widens the salary gap between managers and junior employees. Therefore, the purpose of this study is to investigate the correlation between salary gap and business performance, and also to investigate the correlation between salary gap and corporate financial risk. In this study, 1360 observations were collected from listed and over-the-counter companies in Taiwan from 2019 to 2020, and the results were analyzed by regression.
  In this paper, the pay gap is divided into vertical pay gap and horizontal pay gap, and the results of the statistical regression analysis reveal that both the vertical pay gap and the horizontal pay gap have a significant positive correlation with the business performance. In addition, both vertical and horizontal salary gaps are negatively correlated with corporate financial risk. Therefore, the results of this study show that companies can positively influence corporate performance through appropriate salary disparity, and managers will pay more attention to corporate financial risk and will not be willing to take too much risky development, but will tend to operate in a more stable and conservative way to reduce the chance of bad decisions, which will consolidate their top managerial positions.

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	研究架構	4
第貳章	文獻回顧與假說建立	6
第一節	薪資差距	6
第二節	薪資差距與企業經營績效	8
第三節	薪資差距與財務風險	10
第參章	研究方法	12
第一節	樣本選取與資料來源	12
第二節	變數定義	13
第三節	實證模型	20
第肆章	實證結果	22
第一節	敘述性統計	22
第二節	相關係數	24
第三節	迴歸結果分析	26
第伍章	結論與建議	34
第一節	研究結論	34
第二節	研究限制與未來研究建議	36
參考文獻	
中文文獻	37
英文文獻	39
網路資訊	42

表目錄
表3-1 變數名稱及定義彙整表​18
表4-1 各項變數之敘述性統計​23
表4-2 Pearson相關係數矩陣​25
表4-3薪資差距與企業經營績效(ROA)之迴歸結果​28
表4-4薪資差距與企業經營績效(ROE)之迴歸結果​29
表4-5薪資差距與企業經營績效(TOQ)之迴歸結果​30
表4-6薪資差距與財務風險指標(Z score)之迴歸結果​31
表4-7薪資差距與財務風險指標(MZ)之迴歸結果​32
表4-8薪資差距與財務風險指標(ZFC)之迴歸結果​33

圖目錄
圖1-1 研究流程圖​5

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