本研究探討我國上市上櫃公司之高階主管薪酬和公司績效的關連性,實證結果發現高階主管薪酬和公司績效呈現正相關。本研究依高階管理者是否具公職背景來將樣本區為兩群,實證結果發現具公職背景高階管理者及非具公職背景高階管理者之總薪酬、股票薪酬及現金薪酬和股東權益報酬率、資產報酬率及Q指數皆呈顯著正相關。此外,本研究另依公司績效是否優良來將樣本區為兩群,實證結果發現顯示績效佳公司高階管理者之總薪酬、股票薪酬及現金薪酬和股東權益報酬率、資產報酬率及Q指數衡量皆呈現顯著正相關。績效差公司高階管理者之總薪酬、股票薪酬及現金薪酬和Q指數呈現顯著正相關,但與股東權益報酬率、資產報酬率之相關性並不顯著。
This study examines the relationship between executive compensation and firm performance in listed and OTC companies. Empirical results find that there is a positive relationship between executive compensation and firm performance. Furthermore, this study divides the sample companies into two groups depending on whether the executives have had the public sector experience. This study also divides the sample companies into another two groups depending on whether the firm performance is good. The results in the four groups are similar. That is, there is a positive relationship between executive compensation and firm performance in the four groups.