臺灣博碩士論文加值系統

隨著全球化的來臨，不論基於成本上的考量亦或者是建立服務據點銷售商品等，公司對於跨國界的經營不可避免，而在2008年金融風暴後，使得經理人薪酬議題再次浮上檯面，探討經理人薪酬與公司績效間的關係。本研究主要探討高階經理人超額薪酬與公司國際化之關聯，以及受國際化引起的高階經理人超額薪酬與公司績效之影響，藉著本研究想了解，公司國際化策略對於高階經理人超額薪酬的影響結果及當公司高階經理人領有超額薪酬時，對於公司績效表現有無關聯性。本研究以2005年至2014年間臺灣證交所上市櫃公司為研究對象，實證結果顯示當公司國際化程度越高對於高階經理人領有超額薪酬的情況是加劇的。此外，受國際化引起的超額薪酬對公司資產報酬率短期來看是有幫助的，有助於提升公司績效；但是長期來看反而發現受國際化引起的超額薪酬對公司股票報酬率的影響是負向的，有減損公司績效的可能性。

With the advent of globalization, the company for cross-border operations is inevitable, but after the 2008 financial crisis, making the managers' compensation issue surfaced again. This study investigated the association of managers' excess compensation and internationalization of the company, and the impact of managers' excess compensation and company performance caused by the internationalization. In this study, from 2005 to 2014 between the Taiwan Stock Exchange cabinet companies for the study, empirical results show that the higher the internationalization of the company in the case of managers and licensed excess compensation is heightened. Furthermore, by excess compensation due to the internationalization of corporate performance in the long run it would detract from the value of the company.

目錄
謝誌 I
摘要 II
Abstract III
目錄 IV
圖目錄 VI
表目錄 VII

第壹章 緒論 1
第一節　研究動機與背景 1
第二節　研究目的 4
第三節　研究架構 5

第貳章 文獻探討 7
第一節　國際化 7
第二節　國際化程度與超額薪酬 9
第三節　國際化程度、超額薪酬及公司績效 13

第參章　研究方法 16
第一節　研究樣本與資料來源 16
第二節　變數定義及實證模型 18

第肆章　實證結果 29
第一節　樣本敘述性統計分析 29
第二節　相關性分析 34
第三節　超額薪酬與國際化 37
第四節　國際化引起的超額薪酬與公司績效 41

第伍章　結論與建議 46

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