國內已有愈來愈多的企業採行員工分紅入股制度，期盼藉由讓員工成為企業的股東而提高員工對組織之向心力，企圖激勵並留住優秀人才為公司效力。於是，員工不再是傳統的受薪階級，在當前產業人才競爭的大環境下，企業為了留住優秀適任的員工多藉以分紅入股來提高員工工作意願，亦即以員工對企業所有權之參與來提高員工之組織承諾。 本研究將以國內上市上櫃之所有產業為研究對象，利用1999及2000年期的財務及會計資料，針對國內產業目前所採行的分紅入股制度，就其組織績效以生產力及獲利能力二類指標，進行一橫斷面之實證分析，以探究分紅入股對企業的影響。 結果指出，企業在實施分紅入股制度之後，不一定能提升員工生產力，然而對組織獲利能力則有正面的助益。進一步討論之，現金分紅對員工生產力的影響顯著高於股票紅利的影響效果；而在組織獲利能力方面，則是股票紅利的影響高於現金分紅，且均達顯著水準。 Taiwan’s high-tech firms have been growing rapidly in the past decade. Profit sharing and employee stock ownership plans, which are able to attract and retain high quality employees for high-tech firms, have been thought as one the key successful factors of the high-tech firms in Taiwan. It causes more and more popular to adopt cash and stock profit sharing in the overall industries in Taiwan. However, there are very few empirical studies concerning about the effects of employee stock ownership plans on firm performance in Taiwan. In order to fill the research gap, the study collected a financial data during 1998-2000 from 929 firms to examine the effects of employee stock ownership plans on firm performance. This study tested the effects of two types of profit sharing plans - cash bonus and stock bonus plans. The results indicated that firms with each type of profit sharing programs did not perform better than firms without these group incentive programs. However, firms with either cash profit sharing or stock profit sharing plans did have positive effective on profitability. Further, this study found that cash had better productivity effect than stocks awards. In the contrary, stock profit sharing had better profitability effect than cash awards.
