高階經理人特質能力對私募後經營績效之研究

• Main Authors: Lu,Mao quan , 盧茂泉
• Other Authors: 黃劭彥
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/50827493993193634657

碩士 === 國立中正大學 === 高階主管管理碩士在職專班 === 100 === As top management is a core factor of enterprises’ strategic operations, almost all of enterprises’ directions, policies and developments tend to be influenced by top management. In terms of enterprises’ business administration and private fund-raising, top management’s personal distinctive capabilities and experiences will naturally play a crucial role, and it will eventually reflect on enterprises’ performance. As a result, the relationship among top management’s distinctive capabilities, private fund-raising and enterprises’ performance has long been a hot issue. The Literature Review Method was used in this research to collect and analyze the information regarding the top management who had successfully helped enterprises become Over-the-Counter (OTC) companies through private fund-raising in Taiwan between 2002 and 2010, so as to study the relationship among top management’s personal distinctive capabilities, private fund-raising and enterprises’ performance. To conduct this research, top management’s employment tenure, education status and functional academic background, international experience, amount of the shares and the ambidexterity of chairmanship are used as independent variables, while performance index such as Return on Equity (ROE) and return on assets (ROA) are used as dependent variables, and the size of enterprises, industrial variables are regarded as control variables. The findings of the research: (a) The higher the top management’s business educational background and academic training in finance, the higher the positive correlation with ROA. (b) Top management’s ambidexterity of chairmanship has negative correlation with ROA. (c) The higher the top management’s educational background and international experience the more insignificant the positive correlation with and ROE. This research also found that among top management’s distinctive capabilities, their education status, financial management background, ambidexterity of chairmanship can especially enhance the enterprise’s performance, which can serve as reference for administrators when launching private fund-raising in the future. Administrators and investors may also gain more insight into the distinctive capabilities of top management who raise fund by means of private fund-raising.