員工持股計畫係透過信託的機制讓員工持有自己公司的股份，被視為是一種可以增進組織績效的獎勵措施，這種措施可以改變員工對公司與工作的態度。近年來台灣受到政府推動自由化、國際化的影響，企業競爭日益激烈，要如何利用良好的獎勵措施，留住好人才是不可或缺的核心競爭力。C公司為國內金融界員工持股信託之濫觴，因此，本研究以該行為例進行個案研究。本研究的成果主要有下列四項：
1. 企業不會因為實施員工持股信託就使員工忠誠度提高及留住人才，端看整個公司願景及搭配其他福利制度的配套措施。
2. 員工持股信託實際上很難讓員工感受到其對公司影響力的提升。
3. 員工持股信託所累積的財務，無法完全保障退休後的生活，僅能將之視為養老金之一部份。
4. 員工持股信託可以避免企業被惡意併購。

Employee Stock Ownership Plan (ESOP), a beneficial mechanism granted the employees the employer company’s shares, is regarded as an incentive program to improve organization performance, and a management tool to improve employees’ attitude toward their position and the company. Recently, because of the liberalization and internationalization in Taiwan, the business competition is increasing dramatically. Human resource is more and more important for enterprises to enhance their competitive advantages in this competition environment. Therefore, the issue of using some appropriate incentives to retain good talent is the essential core competencies for many companies.
C company, a top-tier private-owned bank in Taiwan, has granted the Employee Stock Ownership Plan to their employees for a long time. Therefore, this study takes it as an example and studies on the expectations toward ESOP from both the employer’s and employee’s sides.
The main findings of this study are as follows:
1. Enterprise will not enhance the staff’s loyalty and retain talent just by implementing Employee Stock Ownership Plan. Other mechanisms such as company vision, the welfare system is also important.
2. Employee Stock Ownership Plan in fact does not make employees feel the increasing of influence to company.
3. Employee Stock Ownership Plan can not completely replace the labor pension plan, but it can play a critical rule as supplementary program.
4. Employee Stock Ownership Plan might avoid hostile take-over.

英文部分
1. BNA(The Bureau of National Affairs) (1991), Tax Management Portfolio ESOPs.
2. Buchko. Aaron A., “The Effects of Employee Ownership on Employee Attitudes: An Integrated Causal Model and Path Analysis,” Journal of Management Studies, Vol. 30, No. 4,1993, pp. 633-657.
3. Jones, Derek C. and Kato, Takao (Jan. 1993a), “The scope, nature,and effects of employee stock ownership plans in Japan,” Industrial and Labor Relations Review, 46(2), 352-367.
4. Jones, Derek C. and Kato, Takao (Jan. 1993a), “The scope, nature, and effects of employee stock ownership plans in Japan,” Industrial and Labor Relations Review, 46(2), 352-367.
5. Jones, Derek C. and Kato, Takao (Sept. 1993b), “Employee stock ownership plans and productivity in Japanese manufacturing firms,” British Journal of Industrial Relations, 31(3), 331-346.
6. Jones, Derek C. and Kato, Takao (Sept. 1993b), “Employee stock ownership plans and productivity in Japanese manufacturing firms,” British Journal of Industrial Relations, 31(3), 331-346.
7. Klein K. J. and R. J. Hall, “Correlates of Employee Satisfaction with Stock Ownership: Who Likes an ESOP Most?” Journal of Applied Psychology, Vol. 73, No. 4, 1988, pp. 630-638.
8. Klein K. J., “Employee Stock Ownership and Employee Attitudes:A Test of Three Models,” Journal of Applied Psychology, Vol.72, No. 2, 1987, pp. 319-33
9. Long R. J., “Desires for and Patterns of Worker Participation in Decision Making after Conversion to Employee Ownership,”Academy of Management Journal, Vol. 22, 1979, pp. 611-617.
10. Long, Richard J. (1978), “The relative effects of share ownership U.S. control on job attitudes in an employee-owned company,” Human Relations, 31(9),753-763.
11. Long, Richard J. (1978), “The relative effects of share ownership U.S. control on job attitudes in an employee-owned company,” Human Relations, 31(9),753-763.
12. Long, Richard J. (1980), “Job attitudes and organizational performance under employee ownership,” Academy of Management Journal, 23(4), 726-737.
13. Long, Richard J. (1980), “Job attitudes and organizational performance under employee ownership,” Academy of Management Journal, 23(4), 726-737.
14. Long, Richard J. (1980), “Job attitudes and organizational performance under employee ownership,” Academy of Management Journal, 23(4), 726-737.
15. Long, Richard J. (2000), “Employee profit sharing: consequence and moderators,” Industrial Relations, 55(3), 477-504.NCEO (The National Center for Employee Ownership) (1983), The Employee Ownership Reader.
16. Long, Richard J. (2000), “Employee profit sharing: consequence and moderators,” Industrial Relations, 55(3), 477-504.NCEO (The National Center for Employee Ownership) (1983), The Employee Ownership Reader.
17. Mazibuko N. E. and C. Boshoff, “Employee Peerceptions of Share Ownership Schemes: An Empirical Study,” Journal of Business Management, Vol. 34, No.2, 2003, pp. 31-44
18. Pendleton A. and N. Watson., “Correlates of Employee Satisfaction with Stock Ownership: Who Likes an ESOP Most?” Journal of Compensation Management, November, Vol. 73, No. 4, 2002,pp. 630-368.
中文部分
1. 古金英(2000)，員工自主性、工作特徵與組織承諾關係之研究- 中美日三國電子業之比較，中國文化大學/國際企業管理博士班
2. 唐銘成(2007)，臺灣員工持股信託投資績效之研究--就員工角度探討之，國立台灣大學/財務金融學系研究所碩士班
3. 張紹勳 (2001)，電子商店之關係品質模式----融合交易成本理論及科技接受模式的觀點，國立政治大學/資訊管理學系博士班
4. 許志宇(2006)，國內外員工入股計畫之研究，國立台灣大學/商學研究所碩士班
5. 陳光照(2007)，85退休新制修正草案對公務人員士氣影響之研究，國立中山大學/高階公共政策碩士班
6. 陳明賢(2003)，員工工作滿意與工作績效關係之研究--以我國半導體製造業之國防役人員為例，國立交通大學/管理科學碩士班
7. 陳信妤(2008)，公營事業民營化員工個人財務規劃研究，國立中山大學/財務管理學系碩士班
8. 溫燕翔(2003)，員工分紅入股與員工認股選擇權對公司績效與投資支出影響性研究，中原大學/企業管理研究所碩士
9. 葉鞠萱(2000)，庫藏股制度之研究—分析員工持股制度與公司取得自己股份之規制，國立成功大學/法律研究所/碩士班
10. 葛冠琳(2005)，美國限制性股票之研究，國立成功大學/法律學研究所碩士班
11. 鄭義; 張玉山(2000)，台灣電力公司核能及水力部門適用「公有民營」方式之研究，[管理學術研究中心] 國科會計畫
12. 薛添得(2004) ，員工持股信託之研究－以榮星公司為例，國立中山大學/財務管理學系碩士班
13. 謝博安(2008)，台灣電子產業董監事制度對財務危機之影響，南台科技大學/企業資訊研究所/碩士班
14. 魏宏達(2007)，台灣員工持股信託公司績效之研究--從公司及外在投資人角度探討，國立台灣大學/財務金融學系碩士班
15. 羅亦峻(2004)，民營化認股與員工持股信託之研究-以中華電信公司為例，國立中山大學/財務管理學系研究所/碩士班
網站部份
C公司網站：www.chinatrust.com.tw/