| 摘要: | 社會連結在企業的經營策略、績效，管理階層薪酬等方面扮演重要的角色，且中國文化長期以來一直強調以人際關係做為經濟和社會組織的指導結構。在國際潮流及回應社會大眾反肥貓的訴求下，台灣已強制要求上市、上櫃公司需於2011年底前設置薪酬委員會，以建議與監督管理階層的薪酬契約，期許董事、經理人的薪酬能與企業績效相互連結；使董事、經理人與股東的利益趨向一致，進而提升企業的績效。 本研究計畫以2013年至2018年台灣金融業上市及上櫃公司為樣本，探討社會連結及薪酬委員會品質對董事及經理人薪酬績效敏感性之影響，即運用聯立方程模型探討台灣金融業董事及經理人(包括：總經理、副總經理及主要經理人)薪酬與企業績效(包括：股東權益報酬率變動數、資產報酬率變動數及Tobin’s Q變動數)之相互關聯性，並考量社會連結與薪酬委員會品質的影響。進一步探討不同企業特徵(包括：負盈餘的企業及家族企業的影響)及進行多元迴歸分析。本研究計畫為一有趣、重要且創新之研究議題。研究結果除了可補充文獻之不足外，亦可供準則制定機關規範董事及經理人與薪酬委員會成員的社會連結，或審酌薪酬委員會政策成效，或未來修訂相關法令之參考，進而提昇國家、產業及企業之競爭力
The social ties play an important role in business strategy, performance, and management payoff, and Chinese culture has long emphasized the use of interpersonal relationships as a guiding structure for economic and social organizations. With the international trends and demands of the public about anti-fat-cat, Taiwan have required firms whose stock is listed in the Taiwan stock exchange (TSE) or traded over-the-counter (OTC) shall set up a compensation committee before the end of 2011. The compensation committee can suggest and supervise the compensation contracts of firm’s management, and can interconnect the payoff of directors and managers to firm’s performance. So this mechanism can make the consistently interests of the directors, managers and shareholders, and increase firm’s performance. This research project will use samples of Taiwanese listed firms in financial industry from 2013 to 2018, and examine the effect of social ties and compensation committee quality on directors and managers ’ pay-performance sensitivity, which means that uses the simultaneous equation models to examine the interrelationship between directors and managers’ payoff, and firm’s performance (including: changes in ROE, ROA, Tobin’s Q), and consider the role of social ties and compensation committee quality. This research project will further examine the different firm characteristics (including: negative-earning firm, family firm), and the multiple regression analysis. This research project is an interesting, important and innovating research issue. The results will contribute to the field of literature, and valuable reference for the standard-setting authority to stipulate social ties between directors and compensation committee members, and social ties between managers and compensation committee members, or review the policy effectiveness of setting up compensation committee, or amend the relevant laws or regulations, which can improve the competitiveness of countries, industries and enterprises in the future. |
