Based on the law of 「Human Resource Management in Fisherman's Association」, Taiwanese fisherman's association can induce employees' work efforts to increase their productivities either by raising the payment per salary point or by raising employee's salary points. This study use the annual report data of total 40 fisherman's association to investigate the associations between performances and the payment per salary point of Taiwanese fisherman's association. First of all, we set up a payment model to depict the incentive mechanism in the current payment system of fishermen's association by applying principal-agent model (Holmstrom and Milgrom, 1987). Secondly, we take into account the spatial correlation among various fishermen's associations in our estimation model to increase the estimation efficiency. The empirical results show that the payment per salary point of fisherman's association is positively associated with the profits of fisherman's association. To raise one hundred NT dollars of payment per salary point can boost up the profits per employee by sixteen thousand NT dollars. On the other hand, several characteristics of fisherman's association are positively associated with their payment per salary point. They are profit and assets of fishermen's association in the last year, employmees' education and ages. The debt of association and the frequency of typhoon in the last year are negatively associated with payment per salary point.