本研究主要探討全球金融風暴後，台灣上市企業之員工雇用穩定度對企業生產效率之影響，並將雇用穩定度依橫斷面與縱橫資料型態分為「雇用穩定變異係數」與「員工流動率」進行分析，研究樣本為2009年至2016年574家台灣上市公司資料為實證樣本，其中衡量雇用穩定變異係數的橫斷面資料共574筆，衡量員工流動率的縱橫資料共4158筆。採用的研究方法為隨機生產邊界模型，研究之迴歸式中，產出結果為營業收入淨額，主要投入項目為固定資產投入、勞動投入以及生產成本投入；在技術無效率項中，解釋變項分別以「雇用穩定變異係數」與「員工流動率」來衡量，其他控制變項分別為資產總額、負債資產比、員工平均年資、員工平均年齡、最高學歷為高中職及碩博士之員工比例。
實證結果發現，雇用穩定變異係數對企業生產效率無顯著影響，而員工流動率愈高，對生產效率則有負向影響；此外，結果也發現固定資產投入越高，與產出結果呈正向關係，而企業資產總額與負債資產比愈高，對生產效率有正向影響。然而，勞動投入增加則可能不利於產出結果，最高學歷為高中職與最高學歷為碩博士之員工比例越高，對生產效率則會帶來負面影響。

The purpose of this study is to investigate the influence of employment stability on Taiwanese company’s production efficiency after Global Financial Storm, using 574 companies listed on Taiwan Stock Exchange from 2009 to 2016 as selected sample to conduct the regressions and observations. The employment stability in this study is divided into "coefficient of variation of employment stability" and "employee turnover rate" according to cross-sectional and panel data types. Among them, 574 cross-sectional data were used to measure the coefficient of variation of employment stability, and 4158 panel data were used to measure employee turnover.

We apply stochastic frontier approach as our research methods. In the regression of the study, the net operating income is shown as the output, and the main input projects are fixed asset investment, number of workers, and production cost. In the technical inefficiencies, the explanatory variables are measured by the "coefficient of variation of employment stability" and the "employee turnover rate", respectively. Other control variables are the ratio of total assets, debt to assets, average seniority of employees, average age of employees, the proportion of employees with high school degree and the proportion of employees with master or doctoral degree.

The result noted that coefficient of variation of employment stability has no significant effect on company production efficiency, but the higher turnover rate of employees has an even more negative effect on productivity. In addition, higher investment in fixed assets would contribute to the output results. Higher total corporate assets and debt-to-asset ratio has a positive impact on production efficiency. However, an increase in labor input may cause a negative impact on output. With the respect of human capital, more employees with high school degree and master or doctoral degree would have a negative impact on productivity.

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