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標題: | 電子業對員工分紅費用化因應措施之研究 The Study on How the Electronic Companies Cope With the Expensing Employees’ Bonus |
作者: | Shin-Yi Feng 馮釋誼 |
指導教授: | 林世銘(Suming Lin) |
關鍵字: | 員工分紅費用化,庫藏股員工,認股權憑證,股票股利,Logit模型, Expensing employees’ bonus,Employees’ stock option plan,Stock bonus,Treasury stock,Logit model, |
出版年 : | 2008 |
學位: | 碩士 |
摘要: | 民國95年4月28日立法院通過修正商業會計法,將員工分紅由盈餘分配修改為企業應認列之費用,且規定於民國97年開始實施。但許多問題隨之而來,首先就是企業獲利的下降,原為盈餘分配的員工紅利,須認列為費用,故企業之獲利能力將受到影響。不過更令企業頭痛的是人才流失,由於國內電子業之薪資結構普遍較國外低,過去企業大多利用股票分紅,補貼所得予員工,但在新制下,股票紅利以股票市價作為計算之基礎,按可配發之金額折發,因此員工實質所得將大幅下降,使原本所得豐厚的科技新貴,在新制採行下,將考慮離職。
本研究以民國95年至96年底為研究期間,對企業所採行員工分紅費用化之因應措施建立迴歸模型,探討具備何種企業特徵之企業較會於這兩年間採行相關之因應措施,以及具備何種企業特徵之企業傾向採行何種特定之因應措施。 實證結果發現: 1.股票市價確實為企業是否傾向趕緊於96年12月31日以前執行措施的一項重要因素,而股價越高之企業,確實較會採行相關之因應措施,支持本研究之假說。 2.電子產業中,股票分紅比重較高、規模較高以及成長機會較高之企業,較傾向採取發行員工認股權憑證之措施。 3.電子產業中,股票市價較高、股票分紅比重較低、獲利能力較低以及規模較小之企業,較傾向採取調高員工薪資之措施。 4.電子產業中,每股盈餘下降較多、獲利能力較高、股票市價較低以及現金流量較高之企業,較傾向採取購回庫藏股之措施。 5.國內電子產業中之IC設計業,以及規模較大與成長機會較高之企業,較需要以及較有能力去採行這些相關之因應措施。 最後藉由本研究,可瞭解企業在採行員工分紅費用化之各項因應措施時,由於企業特徵不同,所以採取各項因應措施之差異原因。 關鍵字:員工分紅費用化、庫藏股、員工認股權憑證、調高薪資、Logit模型 Abstract With the amendments of Business Accounting Law in 2006, the employees’ bonus should be expensing, and will come into operation in 2008. But it arises two problems to companies: one is the company profitability will decrease drastically. The other is the brain-drain. Because of the salaries of electronic companies in Taiwan are much lesser than those of other countries. In the past, the companies used stock bonus to perquisite employees’ income and to attract employees. But the stock bonus has to be discounted by stock price under the new regulation. Because of the real income of employees will decrease a lot in new rules, the employees will consider to quite job. The purpose of this essay is to treat how the electronic companies cope with expensing employees’ bonus and to understand the determinants of companies about each measure. Using the data is from 2006 to 2007, the empirical results show that: 1.The electronic companies with higher stock price apt to carry out the measures during 2006 to 2007. 2.The electronic companies with higher employees’ stock bonus, higher scale and higher developing opportunity apt to adopt the measure of employees’ stock option plans. 3.The electronic companies with higher stock price, lower employees’ stock bonus, lower profitability apt to adopt the measure of raising employees’ salaries. 4.The electronic companies with higher profitability, lower stock price, higher cash flows and more EPS decreasing apt to adopt the measure of repurchase treasury stocks. 5.IC design, higher scale and higher developing opportunity companies have more chances and more demands to carry out measures. At last, this essay could help us to understand the determinants of companies and the reason why the different companies carry out different measures. Key words: Expensing employees’ bonus, Employees’ stock option plan, Stock bonus, Treasury stock, Logit model. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/9922 |
全文授權: | 同意授權(全球公開) |
顯示於系所單位: | 會計學系 |
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