總經理特質與研發密度之關聯

The Relationship between CEO characteristics and R&D investments

張玲玲(Ling-Ling Chang)；謝佩蓁(Pei-Chen Hsieh)；李明德(Ming-Te Lee)

CEO特質 ； CEO相對年資 ； 研發密度 ； 研發投資 ； CEO characteristics ； CEO related long-tenure ； R&D intensity ； R&D investment

耕莘學報

19期（2021 / 12 / 01）

30 - 51

繁體中文

本研究針對CEO特質與研發密度的關聯性，以台灣2005-2017年上市公司為樣本進行實證，研究結果發現台灣上市公司CEO相對年資越長、教育程度高皆有較高之研發密度，而CEO若由董事長兼任或CEO如為財務、會計或法律專長，則研發密度較低。本研究結果具有實務意涵，可提供實務層面參考，亦可累積此方面研究之證據。

This study investigates the relationship between CEO characteristics and firm R&D investments. Using a sample of listed Taiwanese companies in the period 2005-2017, we find that firms with related longer-tenure CEOs or more educated CEOs would have preferences toward higher R&D investments. However, firms with the CEO who is concurrently chaired or the CEOs having financial, accounting, or legal expertise, the R&D intensity is lower. The results of this study have practical implications and can provide a practical reference and accumulate evidence in this area.