人力資本與企業營運績效關聯性研究－以經營效率為中介變項

Abstract

人力資源從各種層面影響組織績效，人力資本的保存與累積，是企業面對競爭日益劇烈的市場環境的致勝關鍵，唯有組織成員穩定才能形成更高的企業整體生產力。然而，在次級房貸風暴後，2009年起全球人才短缺現象日益嚴重，尤其是台灣的徵才困境更在近年急遽擴大，如何吸引並留住人才以保有穩定的人力資本的質與量，進而提高企業競爭力，已成為台灣企業最大的挑戰之一。

本研究以台灣證券交易所編製之「企業社會責任(Corporate Social Responsibility, CSR)型指數」成分企業為研究樣本，蒐集2010至2015年財務報表與公開說明書資料，探討人力資本對企業營運績效之影響，以及經營效率對人力資本與營運績效是否具有中介效果，研究結果發現：一、企業的人力資本對其營運績效具有正向影響；二、企業的人力資本對其經營效率具有正向影響；三、企業整體經營效率的提升對其營運績效具有正向影響；四、企業整體經營效率會中介人力資本與企業營運績效之關聯。

Human resource is important to organizations from various aspects. The preservation and accumulation of human capital are the crucial keys for enterprises to succeeding in a fiercely competitive business world. Only when the enterprises maintain a stable workforce, they can improve their productivity positively. After subprime mortgage crisis, which occurred in 2009, a persistent talent shortage has become increasingly serious in worldwide market. The same situation happens in Taiwan and leads to considerably severe recruitment difficulties. As a result, how to attract, acquire and retain the talent people to stabilize the quantity and the quality of human capital, thereby strengthening the competitiveness, has become one of the greatest challenges for Taiwan enterprises.

The sample of this study is based on the TWSE CSR Index companies from the period of 2010-2015, and all survey data was obtained from these companies’ financial statements and prospectus. We examined the impact of human capital on firm performance; meanwhile, we examined whether operating efficiency has mediating effect on the relationship between human capital and business performance. The results show that: (1)Human capital has positive effect on business performance; (2)Human capital has positive effect on operating efficiency; (3)Operating efficiency has positive effect on business performance; (4)Operating efficiency plays a mediating role in the relationship between human capital and business performance.