本研究探討 CEO 人格特質對企業勞動聘任不效率之影響。依據高階梯隊理論，管理者人格特質會影響其決策判斷，進而反映於企業人力資源配置決策。本研究以2005年至2018年美國上市公司為研究樣本，透過財報電話會議逐字稿之開放式語言人格衡量工具（OLCPT），衡量 CEO 之盡責性、外向性及宜人性人格特質，並以企業實際聘任行為偏離預期聘任水準之程度衡量勞動聘任不效率。實證結果顯示，三項人格特質中，僅外向性與勞動聘任不效率呈正向關聯。進一步分析發現，外向性主要與過度聘任有關，而與聘任不足無顯著關聯，顯示外向型 CEO 可能因對未來成長機會抱持較樂觀之預期，並具有較強烈之組織擴張傾向，因而較傾向採取積極之人力聘任決策，進而提高企業過度聘任之可能性。橫斷面分析結果顯示，當 CEO 任期較長或公司成長性較佳時，外向性與過度聘任之正向關聯較為明顯。額外測試則未觀察到外向性 CEO 所導致之過度聘任對公司價值及未來營運績效具有顯著影響。本研究補充勞動聘任效率決定因素之相關文獻，並擴展高階梯隊理論於人力資源配置領域之應用。

This study examines the impact of CEO personality traits on labor hiring inefficiency. Based on Upper Echelons Theory, CEOs' personality traits influence managerial decision-making and are reflected in firms' human resource allocation decisions. Using a sample of U.S. publicly listed firms from 2005 to 2018, CEO personality traits are measured using the Open Language CEO Personality Tool (OLCPT), while labor hiring inefficiency is measured by the deviation between actual and expected hiring levels.The empirical results show that, among the three personality traits examined, only CEO extraversion is positively associated with labor hiring inefficiency. Further analyses indicate that this relationship is primarily driven by over-hiring rather than under-hiring, suggesting that extraverted CEOs tend to hold more optimistic expectations about future growth and are more likely to adopt aggressive hiring strategies. Cross-sectional analyses further reveal that this positive relationship is stronger when CEOs have longer tenure or when firms have greater growth opportunities. Additional analyses find no significant evidence that over-hiring induced by CEO extraversion affects firm value or future operating performance.This study contributes to the literature by identifying CEO personality as an important determinant of labor hiring inefficiency and extends the application of Upper Echelons Theory to human resource allocation decisions.

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