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研究生： 勞方儀
Fang-Yi Lao
論文名稱： 利潤分享制度對多角化公司績效之影響─分紅費用化前後之比較
How Do Profit Sharing Incentives Influence Organizational Performance in Diversified Companies – An Empirical Investigation before and after the Implementation of Employee Bonus Expensing Regulation in Taiwan
指導教授： 劉念琪
Nien-Chi Liu
口試委員:
學位類別： 碩士
Master
系所名稱： 管理學院 - 人力資源管理研究所
Graduate Institute of Human Resource Management
論文出版年： 2019
畢業學年度： 107
語文別： 英文
論文頁數： 78
中文關鍵詞： 員工分紅 、現金分紅 、股票分紅 、員工分紅費用化 、組織績效 、多角化
外文關鍵詞： Profit Sharing, Cash Bonus, Stock Bonus, Employee Bonus Expensing, Organizational Performance, Diversification Strategy
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    • 本研究現金分紅以及股票分紅在分紅費用化前後，對多角化公司績效之影響。本研究以台灣上市櫃高科技公司為研究對象，從台灣經濟新報資料庫（TEJ）獲取從2005年至2014年間共532家企業的財務資料，整理為Panel Data型式的研究資料，並以回歸模型針對此資料做分析。研究結果發現，(1) 多角化策略對於公司績效的影響並不顯著，只有在控制住研發費用之後才會出現顯著之關係，(2) 在分紅費用化之後，非相關多角化的公司會更傾向於使用股票分紅，(3) 無論分紅費用化前或後，現金分紅都顯著地強化相關多角化策略對公司績效的影響，而股票分紅只在分紅費用化前有此效果。

    The purpose of this study is to investigate the relationship between diversification strategy and organizational performance and also the role of profit sharing incentives. We study 532 high-tech companies from 2005 to 2014.All the data are from TEJ Database. The following results are found. (1) The direct effect of diversification strategies on organizational performance is not clear; only when the investment in research and development is controlled does the positive relationship become clear. (2) After 2008, unrelatedly diversified companies tend to adopt stock-based profit sharing incentive; once the investment in research and development is controlled, the amount of stock-based profit sharing matters. (3) Cash-based profit sharing incentive strengthens the relationship between diversification strategies and organizational performance; stock-based profit sharing incentive does so only before the implementation of employee bonus expensing regulation.

    Contents Chapter 1 Introduction 1 Chapter 2 Literature Review 4 2.1 Diversification 4 2.1.1 Definition of Diversification 4 2.1.2 Types of Diversification 5 2.2 Diversification and Organizational Performance 7 2.3 Diversification and the Role of Profit Sharing Incentives 8 2.3.1 The Coordination Needs of Diversification 8 2.3.2 Profit Sharing Incentives as a Coordination Mechanism 9 2.3.3 Profit Sharing Incentives as a Moderator 12 Chapter 3 Research Methods 14 3.1 Research Framework 14 3.2 Sample and Data Selection 15 3.3 Measurement 15 3.3.1 Independent Variable 15 3.3.2 Dependent Variable 16 3.3.3 Mediator and Moderator 17 3.4 Research Methods 19 Chapter 4 Results 21 4.1 Descriptive Statistics Analysis 21 4.2 Pearson Correlation Analysis 25 4.2.1 Correlation Analysis from 2005 to 2012 25 4.2.2 Correlation Analysis from 2005 to 2007 27 4.2.3 Correlation Analysis from 2008 to 2012 29 4.2.3 Correlation Analysis from 2013 to 2014 31 4.3 Regression Analysis 33 4.3.1 Mediation Models 33 4.3.2 Moderation Models 46 4.4 Discussion 58 Chapter 5 Conclusion 64 5.1 Conclusion 64 5.2 Limitations and Directions for Future Research 65 5.3 Managerial Implications 67 References 68

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