本研究旨在探討現金分紅與股票分紅在員工分紅費用化前後，對於組織創新的影響差異。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）與經濟部智慧財產局獲取2002至2015年共739家企業的財務資料與專利權資料後，整併為Panel Data型式的研究資料，並以Tobit Model為研究模型分析之。其研究結果發現在員工分紅費用化前期，股票分紅對於落後一期到三期的組織創新皆有顯著的正向效果，但到費用化後期，股票分紅的激勵效果卻僅對落後一期的組織創新有顯著正向效果。至於現金分紅在前期對於落後二期與落後三期的組織績效為顯著負向，但到後期卻逆轉為顯著正向。研究結果指出股票分紅與現金分紅對於組織創新的激勵效果在前後期是不同的，而可能的影響因素眾多，但基本上股票分紅對於組織創新的激勵效果是相對於現金分紅較穩定的。;The purpose of this essay is to investigate the differences of impacts of profit sharing on organizational innovation before and after the expensing regulation of employee stock bonuses at 2008. The research investigates 739 Taiwan high-tech companies from 2002 to 2015, and analyzed by Tobit Model analysis method. The research data comes from Intellectual Property Office (TIPO) of the Ministry of Economic Affairs and Taiwan Economic Journal (TEJ) Database. Before 2008, stock bonus has a significant positive effect on organizational innovation in next year and last to the third year in the future, but after 2008, stock bonus only has a significant positive effect in the next year. The empirical results also shows that cash bonus has a significant negative effect on organizational innovation in the second year and the third year in the future before 2008, but has a significant positive effect reversely after 2008. It is interesting that there are different motivational effect of stock and cash bonus before and after 2008, but basically stock bonus has more stable motivational effect on organizational innovation.
