員工分紅對於創新績效之影響

Abstract

全球科技日新月異，對於重視高科技產業的台灣經濟而言，執行創新作業存在其必要性。高科技企業為了激勵研發人員提升創新產出，紛紛設計獎酬機制以期望達到最佳效果，其中一項酬勞即為「員工分紅」。員工分紅歷經費用化制度的改革，在2008年1月1日起正式實施，本文將探討此政策落實後，員工分紅對於創新績效是否具有顯著影響。 迴歸結果顯示，員工股票分紅及現金分紅皆能對創新產出有正向且顯著的效果。在創新效率的檢驗上，僅現金分紅符合創新效率。本文也發現規模較大、未違反勞動基準法以及Tobin’s Q較高的公司可發揮更好的創新激勵效果。

With the advance of science and technology, investing in corporate innovation activities is of critical importance for high-tech industrial companies, which play a major role in Taiwan’s economy. To foster innovation productivity, these companies try various incentive mechanisms to stimulate employees to innovate, including sharing companies’ profits with employees. In Taiwan, the new regulation on employee profit sharing was implemented on January 1, 2008, which required that market values be used when calculating the expenses of employee profit sharing. This research examines the impact of employee profit sharing on corporate innovations after this new regulation was imposed. Our regression analysis reveals that the effects of both employee stock profit sharing and employee cash profit sharing on corporate innovations are significantly positive. As to innovation efficiency (taking into account the resources spent on R&D activities), only employee cash profit sharing has a significantly positive impact on innovation efficiency. Further analysis shows that the effect of employee profit sharing on corporate innovations is more significant for firms with larger sizes, better compliance to the Labor Standard Act, and higher Tobin’s Q.