Earnings Quality and Pay-Performance Sensitivity: Evidence from Employee Profit-Sharing Bonus in Taiwan

盈餘品質和薪酬績效關聯性：以台灣員工分紅為例

許文馨(Wen-Hsin Hsu) ； 廖芝嫻(Chih-Hsien Liao)

《Asia Pacific Management Review》 Volume 18 Issue 3 (2013/09) Pp. 275-299+iii

https://doi.org/10.6126/APMR.2013.18.3.03

Abstracts

利用台灣員工分紅制度，我們探討公司是否在薪酬與績效關聯性部分考量盈餘品質，以及公司治理是否會增強薪酬績效之關聯性。我們發現薪酬與績效的關聯性會隨著盈餘管理而增加。但是，我們發現在公司治理好的公司，薪酬績效關聯性會隨著盈餘管理而減少。此結果在控制不同公司特質及不同的盈餘品質衡量指標下，結果仍然支持。本文結果對有效的員工分紅制度提供一些啟發。

Keywords

薪酬與績效關聯性 ； 員工分紅 ； 盈餘品質

Parallel abstracts

Using data on the widespread profit-sharing schemes in Taiwan, we explore whether companies take into consideration earnings quality in the pay-performance sensitivity of employee profit-sharing bonus, and whether corporate governance helps improve the alignment. Our results show that the sensitivity of profit-sharing bonus to earnings performance is increasing in earnings management. However, we find that in firms with strong governance the pay-performance sensitivity of managed earnings is significantly reduced. The results are robust to controlling for firm characteristics and to different earnings quality. Our study provides important implications for the effective use of profit-sharing plans.

Parallel keywords

Pay-performance sensitivity ； profit-sharing bonus ； earnings quality

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