本文爲首篇國內實證研究漁會薪點支付金額對盈餘影響之文章。漁會員工之每月薪給是以該員工總薪點數乘上該漁會每薪點支付金額計算之，因此，在現行「漁會人事管理辦法」下，漁會可透過漁會員工薪點數，或漁會之每薪點支付金額來設計薪資誘因獎勵方式，以誘使漁會員工努力工作，並藉此提升漁會員工之勞動生產力，進而提升漁會之生產盈餘。本文利用「台灣省漁會督導工作總報告」之全國40家漁會資料來探討各漁會之每薪點支付金額與漁會營運之關係。首先，利用 Holmstrom and Milgrom(1987)的當事代理模型探討在現行漁會薪資制度上，由隱藏行爲引起道德危機時的最適每薪點支付金額，並輔以產業組織文獻，歸納出影響薪點支付金額與漁會盈餘的主要變數。其次，考慮漁會之間因地理鄰近的空間相關性，利用Driscoll and Kraay(1998)估計方法提升空間相關時的估計效率，並確認漁會的空間性。實證結果顯示：會提升當年漁會每薪點支付金額之因素，包括前一年漁會盈餘、前一年資產、前一年漁會員工教育年數以及40歲以上漁會員工之比率，而前一年漁會負債與前一年颱風警報次數則是會降低薪點支付金額水準。同時，每受雇用員工盈餘則會受到薪點支付金額以及每受雇員工資產之正向影響。漁會每薪點支付金額增加100元，將提升漁會每受雇員工盈餘約1.6萬元。

Based on the law of 「Human Resource Management in Fisherman's Association」, Taiwanese fisherman's association can induce employees' work efforts to increase their productivities either by raising the payment per salary point or by raising employee's salary points. This study use the annual report data of total 40 fisherman's association to investigate the associations between performances and the payment per salary point of Taiwanese fisherman's association. First of all, we set up a payment model to depict the incentive mechanism in the current payment system of fishermen's association by applying principal-agent model (Holmstrom and Milgrom, 1987). Secondly, we take into account the spatial correlation among various fishermen's associations in our estimation model to increase the estimation efficiency. The empirical results show that the payment per salary point of fisherman's association is positively associated with the profits of fisherman's association. To raise one hundred NT dollars of payment per salary point can boost up the profits per employee by sixteen thousand NT dollars. On the other hand, several characteristics of fisherman's association are positively associated with their payment per salary point. They are profit and assets of fishermen's association in the last year, employmees' education and ages. The debt of association and the frequency of typhoon in the last year are negatively associated with payment per salary point.