本文主要研究目的在測試效率工資理論是否存在於台灣地區，本研究利用79年至96年『受僱員工薪資調查』進行實證分析。利用兩步驟進行分析，第一步驟利用薪資方程式估計求出各產業薪資配適值，利用實際薪資與薪資配適值差距做為效率工資變數，第二步驟為離職率方程式的實證分析，測試效率工資與離職率是否呈現負相關。兩步驟均利用Panel Data Regression模型進行實證分析，且均進行Breusch and Pagan檢定及Hausman檢定進行測試那種模型較適合本資料。
本文實証發現，在台灣地區確實存在於效率工資理論，而且利用不同行業類進行分析，發現不同行業間之效率工資理論存在的情況也不同，而近年效率工資理論也愈趨明顯。

The purpose of this research is to test whether the effect of efficiency wage exists in the labor market of Taiwan. Our data come from Employees'' Earnings Survey with a sample period ranging from 1990 to 2007. In the empirical analysis, we use two-step estimation. First, we use a wage equation to find the fitted value of each industry. Then we create an efficiency wage variable that is the real wage minus the fitted value. Second, we use the quit rate equation to test the efficiency wage theory. In wage equation and quit rate equation, we use panel data regression model. We use Pagan test and Hausman test to test which model fits.
In conclusion, we find that efficiency wage theory exists in the labor market of Taiwan. We find difference effect of efficiency wage theory in difference industry. We can find a more outstanding effect of efficiency wage in recent years.

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