台灣營建業由於需求營造、土地資金龐大，且受到承攬總額與資本淨額比例之限 制，促使上市或增資的營建類公司大幅增加。由於透過公開市場出售證券籌得資本，使得 外部股權的比重逐漸增加，經營權與所有權分離的情形越來越顯著。進而產生代理問題。 本研究針對營建業上市公司，以實證探討不同階層經營著其持股比例與企業經營績效之關 係，以及董事長、總經理的持股比例、薪資報償與公司績效之關係。結果顯示台灣營建業 中，除總經理外，經營者持股比例以及董事長薪資報償對公司績效有顯著的正相關。而總 經理職務則由於多為專業經理人角色，非實際決策者，因此其持股比例及薪資報償與經營 績效間無明顯相關性。藉由此實證研究結果，可提供上市公司作為訂定合理經營者薪資報 償以及持股比例之參考，以有效提升公司經營績效。

　　　　　Listed construction companies in Taiwan has been increasing drastically these days. Problems related to the separation of ownership and control, as well as, the agency problems are becoming a new concern. The aim of this research is to explore factors that may influence corporate performance for constructino companies. Data from prospectuses of 26 out of 33 listed construction companies in Taiwan between 1993-96 are analyzed. Return on Equity(ROE) is used as an index measuring corporate performance in this research. Results of regression analyses show that corporate performance has a significant interrelationship with stock- holding ratio of the board, as well as, chairman of the board and top executives except the president. Analytical results also confirm that the compensation of the chairman of the board has a significant influence on the corporate performance. However, the stock-holding ratio of the president has no significant impact on corporate performance.