本研究以國內上市上櫃之861家資訊電子業為研究對象，利用1990至2003年的財務資料，以 Cobb-Douglas生產函數之設定與固定效果模型，探討整體資訊電子業與各類別產業其全薪水準與員工分紅配股制度對公司績效之影響。其中分紅配股制度以分紅配股實施與否、現金分紅與股票分紅之總額及分紅總額佔全薪的比例等變數衡量，而公司績效則以生產力與獲利能力兩項指標衡量，以驗證全薪水準與分紅配股制度對企業的影響。

研究結果顯示，無論以整體資訊電子業或各類別產業為樣本，全薪水準對公司績效均產生正向顯著之影響。若以分紅配股制度實施與否、分紅配股實施的強度與分紅總額佔全薪的比例來探討時，整體產業之生產力與公司獲利能力均呈現正向顯著之影響，但就各類別產業而言生產力的效果較獲利能力顯著；其中，以員工分紅配股金額佔全薪比例探討時，對公司績效影響最為顯著。實證結果亦發現分紅配股制度並非存在於所有資訊電子業別，仍有部分產業受其實施情形與產業特質等因素之影響而未達顯著。

Using a data set of 861 Taiwan’s high-tech firms during 1990-2003, this paper investigated the effects of total compensation level and profit sharing on firm performance. The empirical estimation is based on a Cobb-Douglas production function and fixed effects model. Besides , to estimate the incentive effects from the profit sharing, a number of independent variables are included in this study such as profit-sharing dummy variables, amount of profit sharing and the ratio of profit sharing to total compensation. Moreover , the study tested the effects of two types of firm performance-productivity and profitability.
The evidences indicated that total compensation level has a significant effect on whole industry and different kinds of information technology (IT) industries. Further, this study found that firms with profit sharing performed better than without the incentive programs. In addition , the study also found that increasing amount of profit sharing and the ratio of profit sharing to total compensation, they would significantly improve firm performance. The ratio of profit sharing to total compensation had better effect than others. However, the empirical results showed that profit sharing did not have a significant effect which depends on industrial characteristics and company policy on different kinds of information technology industries.

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