董事會特性和財務主管特質之關聯

The Relationship between Board Characteristics and CFO Characteristics

過去有關於董事會與高階經營團隊關聯性研究的對象大都聚焦在總經理，較少探討高階經營團隊其他成員，近年刊登在TSSCI期刊上的文獻亦無以財務主管為探討對象。然而，文獻指出財務主管的重要性與日俱增，且法令規定財務主管的聘任、解任都須經董事會通過，因此本文研究董事會特性與財務主管特質之關聯性探討。本研究探討董事會下列三項特性對於財務主管特質之影響：（1）公司董事兼任其他公司董事家數；（2）董事們的會計背景；（3）財務主管兼任董事。本研究實證結果支持本研究假說，如果公司董事兼任其他公司董事家數較多，則該公司財務主管是外部財務主管的可能性較高；且如果董事們較高比重具備會計背景，則財務主管也具備會計背景的可能性較高。此外，若財務主管兼任董事，則此位財務主管被解任的可能性較低。本研究實證結果可以補充國內有關於「財務主管」研究之不足。

Most prior studies on the relationship between the board and top management team (TMT) has focused on the chief executive officer or board of directors rather than other members in the TMT. Literature published in TSSCI journals during the past 10 years, did not focus on the chief financial officer (CFO). However, the literature points out the increasing importance of CFO, and the law stipulates that appointment and dismissal of CFO must be approved by the board of directors. Therefore, this study aims to explore the relationship between the characteristics of CFO and those of the board of directors. This study examines the following three characteristics of the board of directors affect the characteristics of the CFO: (1) the number of other companies in which directors of the company are serving concurrently as their directors; (2) the directors' accounting background; (3) the CFO serving simultaneously as board director. The empirical results of this study support the hypotheses that the greater the number of directors holding other companies' directorship, the higher the probability that the existing CFO originates from outside the company. Moreover, the higher the proportion of company directors with an accounting background, the greater the likelihood that the CFO also has an accounting background. Finally, if the CFO is also serving as board director, the existing CFO is less likely to be dismissed. The empirical results of this study can supplement deficiencies in extant literature on the subject of CFO.