本研究旨在探討CEO與員工薪資中位數的比率(CEO-to-Employee Pay Ratio)(以下簡稱CEO薪酬比)與員工滿意度之關聯性。過去關於薪酬的文獻大多使用財報中揭露薪酬費用除以員工人數來衡量員工薪酬，因此其所衡量的CEO薪酬比具衡量誤差，且其主題大多集中於薪酬差距與企業績效的關係。有鑑於員工作為企業的重要利害關係人，其對工作的態度直接關係到企業的競爭力與整體營運績效，因此本研究擬探討CEO薪酬比與員工滿意度間之關係。
本研究樣本期間自西元2021年至2023年，以美國S&P500公司為研究對象，CEO薪酬比之資料來源為各企業年報中受強制揭露之數據，並使用Glassdoor網站中的企業評價衡量員工滿意度。實證結果顯示，CEO薪酬比與員工滿意度呈負相關，表示當CEO薪酬比越大時，員工對公司與工作會有著負面與消極的反饋。本研究各項結果分析之探討，可補足CEO薪酬比與員工滿意度間之學術研究缺口，實務方面亦可為企業提供薪酬設計的方向。

This study explores the relationship between the CEO-to-Employee Pay Ratio (CEO pay ratio) and employee satisfaction. While prior literature focuses on the link between pay gaps and firm performance, this study emphasizes employees as key stakeholders, whose attitudes directly affect organizational outcomes. Using a sample of S&P 500 firms from 2021 to 2023, CEO pay data is collected from mandated disclosures in annual reports, while employee satisfaction is measured using Glassdoor ratings. The empirical results reveal a significant negative relationship between CEO pay ratio and employee satisfaction. Specifically, a higher CEO pay ratio is associated with lower satisfaction, suggesting that large pay gaps may lead to perceptions of unfairness and demotivation. This study contributes to the literature by connecting compensation structure with employee perception and offers practical implications for designing fair and effective executive compensation systems.

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