本研究主要探討具有財務專業之CEO是否會影響其公司之財務政策以及其績效。透過分析台灣於2005至2014共10年間的上市公司資料，研究發現由具備財務專業CEO領導的公司傾向持有較少的現金，我認為這是導因於具備財務專業之CEO能更簡單直接的接觸到資本市場並找到資金來源。同時，透過計算買進持有報酬，欲檢視由財務專業CEO領導之公司相對於由非財務專業CEO領導之公司，是否表現較佳。研究結果並未顯示財務專業CEO具備擇時能力且未發現證據顯示其領導之公司績效較佳。

The main purpose of this paper is to examine the effect of financial expert CEO on corporate financial policy and firm performance by using a sample of firms listed on Taiwan Stock Exchange including 351 with financial expert CEOs, and 6956 with non-financial expert CEOs during 2005 to 2014. My empirical results show that firms with financial expert CEOs tend to hold less cash. Nevertheless, I do not find that financial expert CEOs show a better ability to time the market and perform better than non-financial expert CEOs.

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