| Summary: | 碩士 === 國立臺灣大學 === 經濟學研究所 === 106 === This paper explores whether the educational background of a family business’s new family member CEO will affect the performance of the business. This study is based on 122 listed or OTC companies which in total includes 159 observations of family business’s CEO changes. This research applies multiple regression to businesses’ performance with the educational background of new CEO as the key test variable and other effective independent variables controlled. Moreover, by comparing with non-family businesses with no CEO changes, this research explores whether the educational background of new family member CEO could influence the performance difference between family and non-family business. The research results show that among family businesses, for those with new CEOs having educational backgrounds (professional), the performance improvements are significantly larger. However, whether the new CEOs have MBA degree does not significantly affect the performance improvements. The performance improvements of CEO changes were proved to be larger among non-family businesses than family businesses. Fortunately, according to the research results, if the new family member CEO has educational background (professional), the differences of performance improvement will be narrowed. Nevertheless, whether the new CEOs have MBA degree still does not significantly affect the improvement differences.According to the research results, if a family business wants its family member to serve as CEO, it should have this member be educated in the professional field of the business.
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