| Summary: | 碩士 === 東海大學 === 企業管理學系碩士班 === 103 === Low-wage labor problem has been discussed in recent years, however, past studies mainly focus on CEO compensation, there is little research on the relationship between employee compensation and firm performance. In this study, we examine the relationship between CEO compensation, employee compensation and firm performance, and if CSR plays a moderating role. Besides use “Excellent in CSR Award” as a measure variable of CSR, we also add another measurement called “Social Contribution per Share (SCS)” which issued by Shanghai Stock Exchange in 2008. Further, we separate CEO compensation into fixed and variable compensation, to take a closer look if there are any different results by the means of compensation structure.
Sample is obtained from Taiwan listed companies over the period between 2007 and 2013. We found that corporates have better CSR performance tend to have better firm performance, and higher CEO variable compensation and employee compensation level. Also the empirical findings show that the relationship between CEO variable compensation and firm performance is statistically significant positive, suggest corporate should increase the variable compensation when design CEO pay. Surprisingly, employee compensation has a negative effect on firm performance. Which means company can’t take the financial incentives as the only motivation tool. We also found that CSR does have moderating effect between CEO compensation and performance, and also between employee compensation and performance. Indicate better CSR performance can result in better corporate governance, and make employees agree on corporate value and culture and create a motivation effect. Also, there is little different results under two CSR measurements, means SCS can be a reliable tool to measure CSR in the future studies.
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