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  1. NTU Theses and Dissertations Repository
  2. 管理學院
  3. 國際企業學系
請用此 Handle URI 來引用此文件: http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/98487
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dc.contributor.advisor林修葳zh_TW
dc.contributor.advisorHsiou-Wei Linen
dc.contributor.author廖彥凱zh_TW
dc.contributor.authorYen-Kai Liaoen
dc.date.accessioned2025-08-14T16:18:28Z-
dc.date.available2025-08-15-
dc.date.copyright2025-08-14-
dc.date.issued2025-
dc.date.submitted2025-07-31-
dc.identifier.citationAdams, R. B., Almeida, H., & Ferreira, D. (2005). Powerful CEOs and their impact on corporate performance. The Review of Financial Studies, 18 (4) , 1403–1432.
Aktas, N., Andreou, P. C., Karasamani, I., & Philip, D. (2019). CEO duality, agency costs, and internal capital allocation efficiency. British Journal of Management, 30 (2) , 375–396.
Andrei, D., Mann, W., & Moyen, N. (2019). Why did the q theory of investment start working? Journal of Financial Economics, 133(3) , 758–773.
Arnett, J. J. (2000). Emerging adulthood: A theory of development from the late teens through the twenties. American Psychologist, 55 (5) , 469–480.
Barker III, V. L., & Mueller, G. C. (2002). CEO characteristics and firm R&D spending. Management Science, 48 (6) , 782–801.
Benmelech, E., & Frydman, C. (2015). Military CEOs. Journal of Financial Economics, 117 (1) , 43–59.
Bertrand, M., & Schoar, A. (2003). Managing with style: The effect of managers on firm policies. The Quarterly Journal of Economic, 118 (4) , 1169-1208.
Delbanco, A. (2012). College: What it was, is, and should be. Princeton University Press.
Graham, J. R., Harvey, C. R., & Rajgopal, S. (2005). The economic implications of corporate financial reporting. Journal of Accounting and Economics, 40 (1–3) , 3–73.
Hofstede, G. (2011). Dimensionalizing cultures: The Hofstede model in context. Online Readings in Psychology and Culture, 2 (1) , Article 8.
Lewellen, J., & Lewellen, K. (2016). Investment and cash flow: New evidence. Journal of Financial and Quantitative Analysis, 51 (4) , 1135–1164.
Kaplan, S. N., & Zingales, L. (1997). Do investment–cash flow sensitivities provide useful measures of financing constraints? The Quarterly Journal of Economics, 112 (1) , 169–215.
Keltner, D., Gruenfeld, D. H., & Anderson, C. (2003). Power, approach, and inhibition. Psychological Review, 110(2) , 265–284.
Poropat, A. E. (2009). A meta-analysis of the five-factor model of personality and academic performance. Psychological Bulletin, 135 (2) , 322–338.
Schaefer, H. S., Farina, A. G., & Cotting, D. I. (2020). The benefits and liabilities of risk‑taking propensity and confidence at the U.S. Military Academy. Armed Forces & Society, 48 (3) , 409–430.
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dc.identifier.urihttp://tdr.lib.ntu.edu.tw/jspui/handle/123456789/98487-
dc.description.abstract本研究探討CEO所受大學教育地區別與博雅程度對其企業過度投資與投資不足程度的解釋力,選取美國上市公司1995年到2024年間數據為樣本。實證結果顯示,CEO所受大學教育地區別與博雅程度對企業過度投資 (overinvestment) 有顯著影響;美國一般大學背景的 CEO 傾向短期導向與極端投資行為,更容易過度投資或投資不足;美國軍事大學背景的 CEO具備較高風險承擔能力,更容易過度投資、不容易投資不足;美國博雅大學背景的 CEO 更容易投資不足、不容易過度投資;歐盟大學背景 CEO 的投資決策並非總是保守穩健。zh_TW
dc.description.abstractThis study examines whether and the extent to which region and liberal arts exposure of a CEO’s undergraduate institution help explain corporate over- and under-investment. Focusing on U.S. publicly listed companies from 1995 to 2024. This study documents that a CEO’s educational region and liberal arts exposure significantly influence corporate overinvestment. Also, CEOs with a U.S. military college degrees exhibit greater mean overinvestment compared to the others. CEOs with a U.S. research university degrees tend to adopt short-term investment strategies. In contrast, those with educational backgrounds from U.S. liberal arts colleges tend to adopt more prudent and conservative investment strategies, resulting in less overinvestment but more underinvestment. Moreover, CEOs with a European Union university degree appear to be more prone to overinvest when interacting with operating cash flow.en
dc.description.provenanceSubmitted by admin ntu (admin@lib.ntu.edu.tw) on 2025-08-14T16:18:28Z
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dc.description.provenanceMade available in DSpace on 2025-08-14T16:18:28Z (GMT). No. of bitstreams: 0en
dc.description.tableofcontents口試委員審定書.............................................i
致謝......................................................ii
中文摘要..................................................iii
ABSTRACT..................................................iv
目次.......................................................v
表次......................................................vi
第一章 緒論...............................................1
第二章 文獻與假說建立......................................3
第三章 研究辦法...........................................7
第一節 樣本選取.................................7
第二節 模型建構.................................9
第四章 實證結果...........................................12
第一節 敘述性統計...............................12
第二節 相關係數.................................14
第三節 回歸分析.................................16
第四節 敏感性測試...............................23
第五章 結論.............................................. 28
參考文獻...................................................29
附錄.......................................................31
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dc.language.isozh_TW-
dc.subjectCEO大學教育地區zh_TW
dc.subject博雅教育zh_TW
dc.subject軍事背景zh_TW
dc.subject過度投資zh_TW
dc.subject投資不足zh_TW
dc.subjectMilitary Educationen
dc.subjectCEO’s Undergraduate Education Regionen
dc.subjectUnderinvestmenten
dc.subjectOverinvestmenten
dc.subjectLiberal Arts Educationen
dc.title以CEO所受大學教育地區別與博雅程度作為企業投資特性之解釋變數zh_TW
dc.titleDo Region and Liberal Arts Exposure of a CEO’s Undergraduate Institution Help Explain the Investment Characteristics of Her/His Employing Firm?en
dc.typeThesis-
dc.date.schoolyear113-2-
dc.description.degree碩士-
dc.contributor.oralexamcommittee黃承祖;陳慧玲zh_TW
dc.contributor.oralexamcommitteeCheng-Tsu Huang;Huei-Ling Chenen
dc.subject.keywordCEO大學教育地區,博雅教育,軍事背景,過度投資,投資不足,zh_TW
dc.subject.keywordCEO’s Undergraduate Education Region,Liberal Arts Education,Military Education,Overinvestment,Underinvestment,en
dc.relation.page33-
dc.identifier.doi10.6342/NTU202502540-
dc.rights.note同意授權(全球公開)-
dc.date.accepted2025-08-01-
dc.contributor.author-college管理學院-
dc.contributor.author-dept國際企業學系-
dc.date.embargo-lift2026-01-01-
顯示於系所單位:國際企業學系

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