高階經理人薪酬與董監事責任保險之關連性

本研究以上市公司的高階經理人的酬勞結構作為探討高階經理人薪酬與D&O責任保險之代理問題的影響為何? 依照2010年11月通過的台灣證券交易法第14條之6第1項修正條文，規定上市公司或上櫃公司應設置薪酬管理委員會，主要目的為提高公司治理，定期檢討董事、監察人及經理人績效評估與薪資報酬之政策、制度、標準與結構，避免公司的董事、監察人及經理人的薪資報酬與公司績效不對稱，使得經理人及董監事的薪酬制度更透明公平化，以維護股東的權益，依證券交易法第14條之2已明定公開發行公司得依章程設立獨立董事，公司內部設置的薪資報酬委員會最少應有獨立董事一人，並由其擔任召集人及會議主席。實證結果顯示，公司高階經理人薪酬與購買D&O責任保險的相關性具有正向顯著的相關性。

關鍵字

高階經理人薪酬；董監事責任保險

並列摘要

In this study, what is the impact on the higher-level manager's compensation structure of listed companies as a proxy for high-level manager rewards and D&O insurance? According to paragraph 1 ,Article 14-6 of the Taiwan Securities Exchange Act amended in November 2010, for the rule on the public company should set up Compensation committee, the main purpose of improving corporate governance, regularly reviewing the policies, systems, standards and structures of performance appraisal and salary remuneration of directors, supervisors and managers, and avoiding directors and supervision of the company. The salary compensation of people and managers is asymmetrical with the company's performance maken the salary system of managers and directors and supervisors more transparent and fairer in order to safeguard the rights and interests of shareholders. According to Article 14-2, there is a public offering company in the company should establish an independent director, the salary compensation committee set up within the company shall have at least one independent director and be the convener and chairman of the meeting. The empirical results show that the correlation between the company's senior managers and the purchase of D&O liability insurance has a positive correlation, and further tests the company's test for excess insurance. The empirical results also confirm that the higher-level manager's salary is related to the insured D&O insurance.