臺大管理論叢 NTU Management Review VOL.29 NO.1

incentives affected the liquidity holdings of commercial banks, but the effect was different for S&P 1,500 and non-S&P 1,500 banks. Specifically, S&P 1,500 banks with higher CEO equity ownership usually had lower proportions of loan commitments and were less involved in non-interest generating activities, but they maintained higher levels of liquidity and had higher performance compared to S&P 1,500 banks with lower CEO incentives. However, the relationship between CEO incentives, liquidity policy, and bank performance was unclear for non-S&P 1,500 banks. Shu- Cheng Steve Chi David Ming- Huang Chiang San- Lin Chung