由於2019年起臺灣證交所要求上市櫃公司強制揭露2018年度非主管薪酬之平均數，因此本研究以多元線性迴歸的方式探討組織資本與公司市場績效之間的關係，並且加入高管薪酬倍數作為調節變數，檢視其對組織資本與公司市場績效間的影響。以台灣上市上櫃公司為本研究對象，樣本取自台灣經濟新報(TEJ)。
實證結果發現，組織資本會正向影響公司市場績效，再納入高管薪酬倍數後，組織資本及高管薪酬倍數之交乘項與公司市場績效呈現負向關係。意指，組織資本可為公司創造價值，但高管薪酬倍數越大會影響組織資本的發揮，進而減弱公司市場績效。考慮成長機會後，可得出投入組織資本越多，公司市場績效越佳，其結果在高成長的公司更為強烈。

Since 2019, the TSE requires listed and OTC companies to mandate disclose the average of non-executive employee compensation information in 2018, so this study uses multiple regression to investigate the relationship between organization capital and firm market performance. In this study, we also use executive pay ratio as a moderating variable to explore their impact on organization capital and firm market performance. This research sample is taken from the TEJ and is targeted at Taiwan’s listed and OTC companies.

The empirical results show that organization capital will positively affect the firm market performance. After the inclusion of executive pay ratio, the interaction between organization capital and executive pay ratio has a negative relationship with firm market performance. It means that organization capital can create value for the company, but the higher the executive pay ratio will affect the use of organization capital, thereby weakening the firm market performance. After considering growth opportunities, it can be concluded that companies invest more in organization capital, the better the firm market performance, and the result is stronger in high-growth companies.

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