本研究旨在調查雇主品牌和員工忠誠度對家族企業公司績效的影響，並且探討家族成員擔任經理人之比例高低是否對於上述關係有干擾效果。此研究使用 TEJ 資料庫蒐集 891 間台灣上市上櫃家族企業的公司治理和財務績效數據，以 Smart PLS 進行描述性統計分析、效度分析，並透過偏最小平方法結構方程模型（PLS-SEM）方法進行迴歸分析，以獲得假設檢驗之結果。研究結果顯示，台灣證券交易所公司治理評鑑指標對公司績效有顯著的正向影響，且家族成員擔任經理人之比例對於此關係有正向調節作用；而員工離職率與公司績效呈現顯著負面關係。

This study aims at investigating the influence of employer branding and employee loyalty on family firms’ financial performance. We further examine the moderating effect of family members being upper-level managers in the organization on the hypothesized relationships in our model. The governance and financial data of 891 Taiwanese family firms during the period from January 2018 to December 2019 was collected from TEJ database. We conducted logistic regression analysis to obtain the hypothesis-testing results using partial least squares structural equation modeling (PLS-SEM) technique. Findings suggest that Taiwan Stock Exchange governance evaluation indicator has significantly positive effect on a firm’s performance that the involvement of family managers positively moderates this relationship, while employees’ turnover rate is negatively associated with corporate financial outcome. Theoretical implication as well as managerial implications are also elaborated with the limitation of this study and suggestions for future research.

論文審定書…………………………………………………………………………….i
中文摘要………………………………………………………………………………ii
Abstract……………………………………………………………………………….iii
1. Introduction…………………………………………………………………………1
2. Literature Review…………………………………………………………………...6
2.1 Employer branding and firm performance………….…………………….…….6
2.2 Employee loyalty and firm performance………………………………………10
2.3 The moderating effect of family managers…………………………………….14
2.4 Research framework…………………………………………………………...19
3. Methods……………………………………………………………………………20
3.1 Sample and data collection…………………………………………………….20
3.2 Measures……………………………………………………………………….22
3.2.1 Independent variable: employer branding……………………………….22
3.2.2 Independent variable: employee loyalty…………………………………23
3.2.3 Dependent variable: firm performance…………………………………..24
3.2.4 Moderating variable: family management……………………………….24
3.2.5 Control variable………………………………………………………….25
3.3 Data Analysis…………………………………………………………………...26
3.3.1 Analysis of correlation…………………………………………………...27
3.3.2 Regression analysis………………………………………………………27
4. Results and Discussion…………………………………………………………….28
4.1 Descriptive analysis…………………………………………………………...28
4.2 Measurement assessment……………………………………………………...29
4.3 Hypothesis testing……………………………………………………………..30
4.3.1 Direct relationship………………………………………………………30
4.3.2 Moderating effect……………………………………………………….32
4.4 Discussion…………………………………………………………………….34
5. Conclusion…………………………………………………………………………38
5.1 Theoretical implications……………………………………………………....39
5.2 Managerial implications……………………………………………………....40
5.3 Limitation and future research………………………………………………...41
References……………………………………………………………………………42

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