公司特質會影響新上任經理人年紀嗎?

高階經理人工作性質異於其他管理階層，其所做的兩個決策具有左右企業重大決策的影響力，將影響企業未來發展與走向，因此企業聘用經理人時，經理人特質將是一重要考量因素。本研究以台灣上市上櫃公司1999年到2013年間高階經理人異動宣告為研究樣本，探討新上任高階經理人的年紀會受到何種因素影響。本研究以經理人特質、公司投資決策與融資決策及其他等因素為變數，結果發現企業在更換高階經理人時會因異動職位而有所不同。高階經理人異動職位為董事長時，主要影響因素為企業是否為家族企業、財務槓桿度、資本支出、研究發展強度及成長機會；而異動職位為總經理時，主要影響因素為舊任高階經理人是否為自願離職、經理人性別及負債比率。

關鍵字

公司特質；經理人特質；高階經理人異動；投資決策；融資決策

並列摘要

CEO is different from other management. The decisions they make have the influence of major decisions about the company and will influence the future direction of the company. Therefore, when a company hires a manager, the manager characteristics will be an important consideration. In this study, the listed company in Taiwan between 1999 and 2013 CEO turnover as samples to explore the factors affecting the age of newly appointed CEO and take the CEO characteristics, company investment decisions and financing decisions, and other factors as variables.The empirical results show that companies will change from CEO to different positions. When the transfer position is the chairman of the board, the main influencing factors are whether the company is a family business, financial leverage, capital expenditure, research and development and growth opportunities;. When the transfer position is general manager, the main influencing factors are whether the former CEO are voluntary resignation, manager gender and debt ratio