知識經濟時代，人力資本是影響企業經營績效的關鍵因素，然而，人力資本是否隨著企業經營環境競爭日益激烈，而更有助於經營績效的提升，目前仍缺乏相關證據。本研究以國內會計師事務所為例，實徵結果顯示，會計師事務所人力資本確實有助於其經營績效之提升，此外，隨著審計市場競爭度之增加，人力資本改善事務所經營績效的效果更加明顯，是故，隨著審計市場競爭日益激烈，會計師事務所更要重視其人力資本的投資。 In times of knowledge economy, human capital is the key determinant of improving firm performance. However, there is no evidence that whether the effect of human capital on firm performance is moderated by competitive business environment. CPA firms in Taiwan are taken as samples; results reveal human capital as positively correlated with CPA firm performance. This effect is more obvious in a more competitive audit market. Therefore, CPA firms should pay more attention to human capital investment as the audit market gets more competitive.
