臺大管理論叢 NTU Management Review VOL.28 NO.3

Does CEO Career Horizon Lead to Corporate Misconduct? Evidence of Taiwanese Semiconductor Firms 158 Table 1 Descriptive Statistics and Correlation Matrix Mean SD 1 2 3 4 5 1 Firm size 21.356 17.717 2 ROA 12.384 14.414 0.066* 3 ROE 6.903 24.952 -0.011 0.803* 4 Board independence 0.204 0.153 -0.058 0.088* 0.130* 5 Board national diversity 0.052 0.137 0.291* 0.118* 0.035 0.003 6 Board ownership 30.427 15.296 -0.131* -0.004 0.023 -0.271* -0.058 7 CEO duality 0.790 0.407 -0.216* -0.052 -0.013 0.066* 0.031 8 CEO overconfidence 0.379 0.485 -0.030 0.014 0.028 -0.014 0.040 9 CEO ownership 2.752 3.329 0.013 0.093* 0.168* 0.197* -0.155* 10 CEO tenure 6.076 6.798 -0.184* -0.135* -0.118* -0.321* -0.085* 11 CEO career horizon 53.431 7.632 -0.137* 0.063 -0.060 -0.106* 0.110* 12 Board size 9.504 2.169 0.239* 0.164* 0.045 -0.145* 0.183* 13 Board functional diversity 0.522 0.503 -0.012 -0.016 -0 .007 0.041 -0.055 14 Corporate misconduct 0.073 0.416 -0.015 -0.038 -0.060 -0.019 0.050 Note: * p < 0.05