董事會性別多元化對員工福祉的影響

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林姿伶(Tzu-Ling Lin) 查詢紙本館藏

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論文名稱

董事會性別多元化對員工福祉的影響

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摘要(中)

本研究以2012年至2022年臺灣上市公司為研究對象，探討董事會性別多元化對員工福祉的影響。員工福祉的衡量指標包括基層員工薪酬、員工離職率及員工流動率。為了避免內生性問題對結果產生影響，本文參考相關文獻使用工具變數法進行穩健性測試，選取同產業中女性董事數量佔所有董事數量的比率作為工具變數。

實證結果顯示，未控制內生性問題之前，女性董事比例的提升與基層員工薪酬之間存在顯著正相關性，但與員工離職率及員工流動率無顯著關聯；當修正內生性問題之後，則基層員工薪酬、員工離職率及員工流動率皆顯著性不足，此顯著性不足結果可能來源於，所使用工具變數在本文探討的議題中參考性有限所致，或是研究區間尚未受到金管會強制規定上市櫃公司需包含至少 1 名不同性別的董事，女性董事比例相對較低，難以確認女性董事是否對員工福祉產生影響力，亦建議後續研究者，可針對2023年之後的數據作規範前與規範後的探討。

摘要(英)

This study examines the impact of board gender diversity on employee welfare using data from Taiwan-listed companies from 2012 to 2022. Employee welfare is measured by grassroots employee compensation, employee turnover rate, and employee mobility. This paper adopts the instrumental variables approach to mitigate endogeneity issues, following relevant literature. The ratio of female directors to total directors within the same industry is the instrumental variable for robustness testing.

The empirical results indicate that before controlling for endogeneity issues, there is a significant positive correlation between the proportion of female directors and grassroots employee compensation but no significant relationship with employee turnover rate and mobility. After correcting for endogeneity issues, the significance of the effects on frontline employee compensation, employee turnover rate, and employee mobility rate diminishes. This insignificance may stem from limitations in the instrumental variables used in this study or the fact that during the study period, Taiwan′s Financial Supervisory Commission did not mandate listed companies to include at least one director of a different gender, resulting in a relatively low proportion of female directors. Therefore, it is challenging to confirm whether female directors influence employee welfare. Future research should examine data from 2023 onwards before and after regulatory changes to explore this issue further.

關鍵字(中)

★ 女性董事
★ 員工福祉
★ 工具變數法

關鍵字(英)

★ female directors
★ employee welfare
★ instrumental variables approach

論文目次

中文摘要··································································································································i
英文摘要 ················· ··············································································································ii
誌謝 ········································································································································iii
目錄 ········································································································································iv
圖目錄····································································································································· v
表目錄 ···································································································································vi
第一章緒論···························································································································1
1.1 研究動機··························································································································1
1.2 研究目的··························································································································5
1.3 研究流程··························································································································7
第二章文獻探討···················································································································8
2.1 影響員工福祉的因素····································································································8
2.2 女性董事參與企業組織的影響················································································10
2.2.1 女性特質與員工關係······························································································10
2.2.2 女性董事與企業經營績效······················································································11
2.3 公司治理與員工福祉的關連研究············································································13
第三章研究方法與資料來源···························································································15
3-1 資料來源·······················································································································15
3-2 研究變數之定義及說明·····························································································15
3-2-1 被解釋變數···············································································································15
3-2-2 解釋變數···················································································································16
3-2-3 控制變數···················································································································16
3-3 研究方法與模型··········································································································22
3-3-1 共線性診斷··············································································································22
3-3-2 最小平方法（Ordinary Least Square， OLS）模型·································22
3-3-3 二階段最小平方法（Two-stage OLS）模型················································25
第四章實證結果與分析····································································································30
4.1 敘述統計························································································································30
4.2 相關係數分析···············································································································33
4.3 迴歸分析結果···············································································································36
4.3.1 董事會女性成員比例的提高是否對基層員工薪酬（NEC）產生影響······36
4.3.2 董事會女性成員比例的提高是否對員工離職率（TR）產生影響··············39
4.3.3 董事會女性成員比例的提高是否對員工流動率（ETR）產生影響············41
4.4 內生性處理 ···················································································································44
4.4.1 女性董事比例（DIV）與基層員工薪酬（NEC）以工具變數法················44
4.4.2 女性董事比例（DIV）與員工離職率（TR）以工具變數法························48
4.4.3 女性董事比例（DIV）與員工流動率（ETR）以工具變數法······················52
第五章結論··························································································································56
參考文獻································································································································58

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指導教授

蔡明宏蔡栢昇(Min-Hung Tsay Pak-Sing Choi)

審核日期

2024-7-17

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