員工分紅與員工認股選擇權制度用於企業策略之研究

Abstract

國內高科技產業率先實施「員工分紅配股制度」，並成就一套台灣獨有的特殊員工獎酬制度，由於這套制度的實施，直接或間接地讓台灣的高科技產業吸收了很多優秀的人才，並造就了很多科技新貴，良性因果循環的結果讓台灣的高科技產業不斷蓬勃發展，迅速成長。因此，「員工分紅配股制度」可說是促成台灣高科技產業快速發展的原因之一。2001年起國內開始實施的「員工認股選擇權制度」係另一種員工獎酬制度，與原來的「員工分紅配股制度」配套實施的措施。 本論文係以國內高科技產業為研究對象，並以電子業為個案探討對象，分析「員工分紅配股制度」與「員工認股選擇權制度」做為員工激勵的企業策略，如何以這兩種制度做為員工激勵的措施，來積極爭取專業人才，謀求企業最大的獲利，達到公司、員工和股東的三贏局面。以及在這兩種制度裡面，其實施的內涵和政府的法令，對於員工激勵的效果，具有哪些影響？員工分紅制度是否如一般所認為的，是在稀釋股東權益？ 本論文亦深入探討政府對國內剛實施不久的「員工認股選擇權制度」所採取的一些法令和稅賦規定，對公司經理人所造成的影響，相當不利於此制度的實施。 綜合而言，本論文研究認為台灣高科技電子產業所採用的「員工分紅配股制度」和「員工認股選擇權制度」，不只讓這些企業吸納了很多高科技人才，提升企業競爭優勢，創造公司更高的價值，也造就不少科技新貴。「員工分紅配股制度」和「員工認股選擇權制度」絕不是這些企業成功的唯一因素，但至少是個原動力。人才是公司最重要的資產，由於有這些制度的配合，員工的利益與公司的利益更相互結合，在員工努力追求創造價值的同時，公司與股東也相對得到了更高的回饋，達到公司、員工和股東的三贏局面，也形成台灣高科技產業成功的經營模式。

The Taiwanese high-tech industry took the lead in implementing an "employee stock bonus" and successfully completed a special bonus system package for workers unique in Taiwan. Since the implementation of the system, it has directly or indirectly attracted many talented personnel and gave rise to a lot of technology upstarts. The beneficial results have further boosted the continued and rapid growth of Taiwan's high-tech industry. Thus, the "employee stock bonus" can be considered as one of the factors that contributed to the fast-paced development of Taiwan's high-tech industry. From 2001, Taiwan has started implementing another worker reward system called the "employee stock option" to complement the original "employee stock bonus." The respondent of this research is Taiwan's high-tech industry, particularly the electronics sector where case studies are sourced, to analyze the employee incentive business strategies of "employee stock bonus" and "employee stock option." The research investigates how these two types of reward systems manage to positively attract professionals and maximize profit for the company, employees, and stockholders. From the two systems, what are the effects of implementation and government rules on employee incentive? Does the employee bonus system dilute stockholder rights according to common opinion? This study further investigates the effect of government rules and taxation regarding Taiwan's recently implemented "employee stock option" on company managers who are disadvantaged with the system's implementation. In summary, the study thinks that the "employee stock bonus" and "employee stock option" implemented by Taiwan's high-tech electronics industry not only allowed companies to absorb many high-tech talent but also improved business competitive advantage, creating higher value and a lot of technology upstarts. Although the two systems are not the sole success factors for these companies, they are at least the primary drivers. Personnel are the most valuable asset of a company and with these two systems, both employee and company rights are mutually combined. As employees strive to create value, the company and stockholders also receive better feedback, and all three are in a win-win situation. This has also contributed to the success of Taiwan's high-tech industry business model.