過去關於教育訓練之研究，多探討教育訓練投入之當期效果，較少探討教育訓練投入之遞延效果。而過去關於政府補助之研究，也較少探討政府對企業教育訓練補助後，對教育訓練投入與組織績效之影響效果。因此，本研究探討教育訓練之財務投入對組織績效之當期與遞延效果，以及政府補助對教育訓練投入之影響。
本研究以中小企業為研究對象，採用次級資料進行兩年之縱貫性分析，共蒐集851筆有效資料，其中包括298家服務業與553家製造業廠商，由於考量產業別可能會對研究結果有影響，因此分別對服務業與製造業進行探討。
研究結果發現，服務業與製造業具有相似之研究結論：教育訓練投入對當期之組織績效有顯著之影響，而前期之教育訓練投入對當期之組織績效具有顯著之遞延效果，且政府補助對教育訓練經費與教育訓練時數之提昇以及離職率之降低，皆有顯著之影響。
在如此競爭激烈的年代，企業透過教育訓練提升員工知識與技能、累積人力資本更形重要，本研究之結果將有助於企業瞭解教育訓練之重要性，以教育訓練財務投入之觀點進行成本效益分析，探討教育訓練之短期與長期效果，透過探討教育訓練投入對組織績效之遞延影響，使企業除了重視教育訓練之短期效果外，也更加重視教育訓練之長期效益，使教育訓練發揮更大之效益。

Most researches about training and development in the past were discussed the immediate effect of the T&D investment, but few articles examined the lag effect of T&D investment. Besides, there were few researches examined if there were any positive effect to the firm’s T&D investment and performance after the firms received the training subsidies from the government. This study discusses the positive and lagged effects of T&D financial investment on firm performance and the government’s training subsidies for firms on T&D financial investment.
.In this study, our samples are small and medium enterprises which receive the subsidies from the government, and we use secondary and longitudinal data to analyze. Since this research treated SMEs as the targets, there were totally 851 valid data, including 298 service industry firms and 553 manufacturing industry firms. Due to the characteristics of service and manufacturing industry are quite different, we separate the discussion by the industry.
Findings of service industry indicate a positive immediate effect of T&D investment on firm’s sales and productivity per employee, and a positive lag effect of T&D investment on firm’s sales only. Besides, we also find that the T&D subsidies are associated with a large and significant increase in training hours and financial investment, and with a reduction in turnover rate.
On the other hand, findings of manufacturing industry indicate a positive immediate and a positive lag effect of T&D investment on firm’s sales and productivity per employee. Besides, we also find that the T&D subsidies are associated with a large and significant increase in training hours and financial investment, and with a reduction in turnover rate.
It is necessary to consider the time lag between T&D investment and firm performance. We conclude that how to operate the training and development more effectively is a more and more important issue to firms.

中文文獻
1.中小企業處. (2006). 中小企業白皮書. 中華民國經濟部.
2.王玲莉. (2005). 教育訓練對組織績效的影響－以金融業為例 . 中山大學人力資源管理研究所碩士論文.
3.吳秉恩. (1999). 策略性人力資源管理：理念、運作實務. 台北: 中國經濟企業研究所.
4.周淑儀. (2003). 人力資本、薪資與組織績效－以電子業為例. 中央大學人力資源管理研究所碩士論文.
5.林正銘. (2002). 人力資源管理活動對組織績效的影響─同期與遞延效果之探討. 中央大學人力資源管理研究所碩士論文.
6.許士軍. (2000). 管理學. 台北: 東華出版社.
7.謝冠儀. (2005). 我國資訊電子業教育訓練對組織績效影響之分析- 研發支出為干擾變項. 中山大學人力資源管理研究所碩士論文.

英文文獻
1.Aghazadeh, S.-M., & Seyedian, M. (2004). The high-performance work system: is it worth using. Team Performance Management , 10 (3/4), p. 60.
2.Bartel, A. P. (1994, Oct). Productivity Gains from the Implementation of Employee Training Programs. Industrial Relations , pp. 411–25.
3.Bassi, L. J., & Buren, M. E. (1999). The 1999 ASTD state of the industry report. Training & Development , pp. 2-28.
4.Beatty, R., & Varma, A. (1997, Jun). An empirical study of high performance work systems: implications for practitioners. Human Resource Planning Society Research Symposium .
5.Bishop, J. H. (1991). On-the-Job Training of New Hires. Market Failure in Training , pp. 61–98.
6.Bushnell, D. S. (1990). Input, Process, Output: A Model for Evaluation Training. Training & Development Journal , pp. 41-43.
7.Delaney, J. T., & Huselid, M. A. (1996, Aug). The impact of human resource management practices on perceptions of organizational performance. Academy of Management Journal , 39 (4), pp. 949-970.
8.DeSimone, R., & Harris, D. (1998). Human Resource Development. Fort Worth: Dryden Press.
9.DevaneyMichael. (2005). The Tri-Dimensional Training Return Framework. American Society for Training & Development.
10.Diggle, P. J., & Kenward, M. G. (1994). Journal of Royal Statistical Society. Informative dropout in longitudinal data analysis , pp. 49-93.
11.Dougherty, C., & Tan, J.-P. (1999). Financing training: issues and options. Journal of European Industrial Training , 23 (9), p. 416.
12.Drucker, R. F. (1954). The Practice of Management. New York: Harper.
13.Dyer, L., & Reeves, T. (1995). Human Resource Strategies and Firm Performance: What do We Know and Where do We Need to Go? The International Journal of Human Resource Management , 8 (3), pp. 656-670.
14.Freel, M. S. (2000). Barriers to Product Innovation in Small Manufacturing Firms. International Small Business Journal , 18 (2), pp. 60-80.
15.Gad, A. M., & Youssif, N. A. (2006). Linear Mixed Models for Longitudinal Data with Nonrandom Dropouts. Journal of Data Science , pp. 447-460.
16.Hadjimanolis, A. (2000). An Investigation of Innovation Antecedents in Small Firms in the Context of a Small Developing Country. R&D Management , 30 (3), pp. 235-245.
17.Harel, G. H., & Tzafrir, S. S. (1999, Fall). The effect of human resource management practices on the perceptions of organizational and market performance of the firm. Human Resource Management , 38 (3), pp. 185-200.
18.Holzer, H. J., Block, R. N., Cheatham, M., & Knott, J. H. (1993, Jul). Are training subsidies for firms effective? The Michigan experience. Industrial & Labor Relations Review , 46 (4), pp. 625-637.
19.Huselid, M. (1995, 6). The Impact of Human Resource Management Practices on Turnover, Productivity, and Corporate Financial Performance. Academy of Management Journal , pp. 636–672.
20.Kaplan, R. S., & Norton, D. P. (1996). The balanced scorecard. Boston. Harvard Business School Press.
21.Keep, E. (1992). Corporate training strategies: the vital component? London: Routledge.
22.KirkpatrickL.D. (1959). Techniques for evaluating training program. Journal of the American Society of Training Directions, 13, pp. 21-26.
23.Klinder, M. (1991). The Multidimensional Challenge. Quality , 30 (8), pp. 14-16.
24.Lawless, D. J. (1979). Organizational behavior- The psychology of effective management. New Jersey: Prentice-Hall.
25.Loan-Clarke, J., Coombs, C., & Doherty, N. (1999). Factors affecting the level of success of community information systems. Journal of Management in Medicine , 13 (3), p. 142.
26.Lynch, L. M., & Black, S. E. (1998, Oct). Beyond the incidence of employer-provided training. Industrial & Labor Relations Review , 52 (1), pp. 64-82.
27.MacDuffie, J. P. (1995, Jan). Human resource bundles and manufacturing performance: Organi. Industrial & Labor Relations Review , 48 (2), pp. 197-222.
28.Marlow, S., & Patton, D. (1993, Jul-Sep). Research note - Managing the employment relationship in the small firms . International Small Business Journal , 11 (4), pp. 57-65.
29.Ministry of International Trade and Industry. (2005). White Paper on Small and Medium Enterprises in Japan.
30.Molenberghs, G., & Verbeke, G. (2001). A review on linear mixed models for longitudinal data, possibly subject to dropout. Statistical Modelling , pp. 235-269.
31.Nkomo, S. M. (1987). HR Resource Planning and Organization Performance: An Exploratory Analysis. Strategic Management Journal , 8, pp. 387-392.
32.Noe, R. A. (1999). Employee Training and Development. Mcgraw-Hill, Inc.
33.Roos, G., Fernstrom, L., & Pike, S. (2004). Human resource management and business performance measurement. Measuring Business Excellence , 8 (1), pp. 28-38.
34.(2000). The 2000 State of The Industry Report. ASTD.
35.Venkatraman, N., & Ramanujam, V. (1986). Measurement of business Performance on Strategy Research: A Comparison of Approach. Academy of Management Review , 11 (4), pp. 801-814.
36.Verbeke, G., & Molenberghs, G. (2004). Longitudinal and incomplete data Analysis. Proceedings of the international biometric conference .
37.Vermeulen, P. (2005, Oct). Uncovering Barriers to Complex Incremental Product Innovation in Small and Medium-Sized Financial Services Firms. Journal of Small Business Management , 43 (4), pp. 432-453.
38.Vossen, R. (1998). Relative Strengths and Weaknesses of Small Firms in Innovation. International Small Business Journal , 16 (3), pp. 88-94.
39.Youndt, M. A., Snell, S. A., Dean, J. W., & Lepak, D. P. (1996). Human Resource Management, Manufacturing Strategy, and Firm Performance. Academy of Management Journal , 39 (4), pp. 836-866.