國內企業慣以員工分紅配股激勵員工、吸引優秀人才投入產業，因此，本文將從員工獲得分紅配股價值的角度，探討員工分紅配股與上市公司績效之長期關係。首先，本研究透過財務報表揭露之薪資、員工紅利、公司盈餘等資訊，估算公司賦予員工努力工作誘因的比率(incentive ratio)。其次，以有盈餘且上市的公司為研究對象，檢定以員工分紅配股(Employee Stock Bonus, ESB)激勵員工的公司的績效是否大於其他公司。從而探討公司採行員工分紅配股的政策是否會受到公司成長機會的影響。研究結果顯示，以股票作為激勵員工的報償機制時，則公司的績效表現較佳，此外，公司的成長機會愈高，公司亦傾向實施員工分紅配股的政策。

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