薪酬公平性：員工生產力與控制權偏離之影響

Pay Fairness: The Impact of Employee Productivity and the Separation of Control and Cash Flow Rights

汪進揚(Jinn-Yang Uang) ； 林慧茹(Hui-Ju Lin)

《管理學報》 38卷2期 (2021/06) Pp. 203-230

https://doi.org/10.6504/JMBR.202106_38(2).0003

摘要

本文旨在探討高階管理者異常薪酬、控制權偏離與員工生產力對員工薪酬之影響，以及檢測控制權偏離與員工生產力兩者對員工薪酬與高階管理者異常薪酬關係之調節效果。研究對象為台灣證券交易所非金融業上市公司，實證結果指出，高階管理者異常薪酬對員工薪酬呈正向影響，顯示高階管理者薪酬與員工薪酬具互補關係。控制權偏離與員工生產力對員工薪酬呈正向影響，顯示鞏固管理權誘因與員工貢獻會影響員工薪酬契約。此外，控制權偏離與員工生產力為高階管理者異常薪酬與員工薪酬關係之調節因子，有助促進垂直薪酬公平性。

關鍵字

薪酬公平性 ； 高階管理者 ； 員工 ； 控制權偏離 ； 生產力

並列摘要

This study aims to explore the impact of abnormal top management compensation, the separation of control and cash flow rights (thereafter, the Separation), and employee productivity on employee pay, as well as examine whether employee productivity and the Separation moderate the effect of abnormal top management compensation on employee pay. Using non-financial firms listed on the Taiwan Stock Exchange, we find that abnormal top management compensation and employee pay are complementary to each other. The Separation and employee productivity are positively associated with employee pay, showing that both managerial entrenchment and employee contribution play a vital role in determining employees' salary contracts. In addition, we find that the Separation and employee productivity positively moderate the effect of abnormal top management compensation on employee pay, implying that either widening the gap between control and cash flow rights or improving employee productivity can reduce pay disparity or improve pay fairness.

並列關鍵字

pay fairness ； top management ； employee ； separation of control and cash flow rights ； productivity

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