本研究檢測CEO聲譽潛在的經濟價值,探討CEO聲譽是否能改善公司的經營績效和市場績效及對於公司策略決策的影響,本研究以國內上市公司為樣本,蒐集之樣本期間為2006至2007年,實證研究了150個電子產業CEO樣本。我們採用了CEO媒體覆蓋率(Media coverage of CEOs)與CEO年資來衡量CEO聲譽,以建立台灣上市公司CEO聲譽資料庫。
本研究發現具有高聲譽的CEO,其企業會有較佳的經營績效和市場績效,且具有高聲譽的CEO,企業策略動態性受其影響程度也較大。
In this paper, we examine the potential economic value of the chief executive officers (CEOs) reputation: performance improvement at the firm performance, market performance and strategy decision. Using a sample of Taiwanese listed firms, during 2006 to 2007, we empirically study 150 CEOs in the electronic industries. We adopt two measures media coverage of CEOs and tenure for CEOs reputation that constructing the reputed CEOs of Taiwan database.
The conclusion shows reputed CEOs have better firm performance and stock performance. We also argue that reputed CEOs are positively related to strategic dynamism.