本研究結合高層理論，動態競爭理論與領導者-成員交換理論(Leader-member exchange, LMＸ理論)，探討執行長與高階經營團隊(top management team, TMT) 關係品質對組織績效的影響，以及競爭積極性在執行長與經營團隊關係品質及組織績效之間所扮演的中介角色。同時，本研究也檢視執行長與經營團隊關係差異程度(differentiation)在執行長與經營團隊關係品質與競爭積極性之間的調節效果。本研究以組織層次做為分析單位，依據台灣經濟新報（TEJ）資料庫登載的台灣1,800家上市、上櫃、及興櫃企業資料做為研究母體，並透過調查法取得134家企業、341份高階主管的有效問卷做為研究樣本。分析結果顯示，本研究的理論模型具有良好的配適度，且五大假說也全部獲得支持。研究結果指出，執行長與階經營團隊關係品質和競爭積極性對組織績效有正向的影響; 同時，競爭積極性在執行長與高階經營團隊關係品質及組織績效間扮演了完全中介的角色；最後，執行長與經營團隊關係差異程度在執行長與階經營團隊關係品質與組織績效之間具有負向調節效果。本研究對高層理論，領導者-成員交換理論和動態競爭理論具有重要的理論意涵。首先，本研究將執行長的角色從高階經營團隊中分開，補足以往高階團隊研究未深入檢視執行長與高階主管間之社會/心理互動的缺口。其次，檢視執行長和經營團隊成員的關係品質，也擴展了過去LMX理論傾向以基層員工為對象的範疇。另外，本研究結合LMX理論和動態競爭理論並以競爭積極性為中介變數，也填補了以往動態競爭研究忽略執行長角色的缺口。本研究最後也討論了實務意涵與未來研究方向。

This study draws upon the upper echelons, competitive dynamics and leader- member exchange (LMX) perspectives to investigate how CEO-top management team (TMT) exchange quality affects firm competitive aggressiveness, and then firm performance. The mediating effect of competitive aggressiveness and the moderating role of CEO-TMT exchange differentiation are also explored. The unit of analysis is at firm level. Based on a survey sample including 341 executives in 134 companies collected from 1,800 TSE, OTC and ROTC firms listed in the Taiwan Economic Journal (TEJ) database, the findings reveal a good model fit and support all of the hypotheses. Specifically, CEO-TMT exchange quality is positively related to competitive aggressiveness, which in turn positively affects firm performance, as assessed by the Return on Asset (ROA). The mediating role of competitive aggressiveness as well as the negative moderating effect of CEO-TMT exchange differentiation are also supported.
This research contributes to the upper echelons, LMX and competitive dynamics theories by identifying the role of CEOs from the other TMT members and examining their socio-psychometric dynamics. The study also contributes to the LMX theory by expanding the examination from typical lower-level employees to TMT-level. An examination of CEO-TMT exchange and its association with competitive aggressiveness also extends the competitive dynamics perspective, which thus far remains largely silent on the role of CEO in the competitive arena. Implications for practices and future directions are discussed well.

論文審定書.................................................................................................. i
ACKNOWLDGEMENT.................................................................................ii
摘要.............................................................................................................iii
ABSTRACT.................................................................................................iv
TABLE OF CONTENTS...............................................................................v
LIST OF TABLES....................................................................................... ix
LIST OF FIGURES......................................................................................x
CHAPTER ONE INTRODUCTION..............................................................1
1.1 Research Background and Motivation..................................................1
1.2 Research Purposes and Objectives......................................................6
CHAPTER TWO LITERATURE REVIEW...................................................10
2.1 Perspective of Upper Echelons Theory................................................11
2.2 Perspective of Leader Member Exchange Theory...............................13
2.3 Perspective of Competitive Dynamics Theory.....................................15
2.4 Studied Variables.................................................................................19
2.4.1 CEO-TMT Exchange Quality...........................................................19
2.4.2 CEO-TMT Exchange Differentiation................................................20
2.4.3 Competitive Aggressiveness...........................................................22
2.5 Hypothesis............................................................................................23
2.5.1 CEO-TMT Exchange Quality and Competitive Aggressiveness......23
2.5.2 Competitive Aggressiveness and Firm Performance.......................26
2.5.3 CEO-TMT Exchange Quality and Firm Performance.......................27
2.5.4 The Mediating Role of Competitive Aggressiveness........................28
2.5.5 The Moderating Role of CEO-TMT Exchange Differentiation..........29
CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY..............31
3.1 Research Framework............................................................................31
3.2 Sample and Data Collection..................................................................32
3.2.1 Descriptive Statistics Analysis for Sample........................................34
3.3 Hypothesis to be Tested.........................................................................37
3.4 Constructs Measurements and Definition of Variables..........................38
3.4.1 CEO-TMT Exchange Quality............................................................38
3.4.2 Competitive Aggressiveness............................................................39
3.4.3 CEO-TMT Exchange Differentiation.................................................40
3.4.4 Firm Performance.............................................................................40
3.4.5 Control Variables..............................................................................41
3.5 Data Analysis. ......................................................................................42
3.5.1 Descriptive Statistic Analysis...........................................................42
3.5.2 Reliability Test..................................................................................43
3.5.3 Interrater Reliability Test..................................................................43
3.5.4 Confirmatory Factor Analysis……....................................................44
3.5.5 Pearson Correlation Coefficient.......................................................45
3.5.6 Hierarchical Multiple Regression.....................................................45
CHAPTER FOUR RESEARCH RESULTS..................................................47
4.1 Legitimacy of Raw Data Aggregation...................................................47
4.2 Reliability Test.......................................................................................48
4.3 Assessing Full Measurement Model with CFA.....................................48
4.4 Pearson Correlation..............................................................................49
4.5 Hierarchical Regression Analyses........................................................53
4.5.1CEO-TMT Exchange Quality and Competitive Aggressiveness.......53
4.5.2Competitive Aggressiveness and Firm Performance........................54
4.5.3CEO-TMT Exchange Quality and Firm Performance .......................54
4.5.4 The Mediating Role of Competitive Aggressiveness .......................55
4.5.5 The Moderating Role of CEO-TMT Exchange Differentiation..........57
CHAPTER FIVE CONCLUSION AND SUGGESTIONS..............................63
5.1 Discussion and Conclusion...................................................................63
5.1.1 CEO-TMT Exchange Quality and Competitive Aggressiveness......63
5.1.2 Competitive Aggressiveness and Firm Performance.......................64
5.1.3 CEO-TMT Exchange Quality and Firm Performance.......................64
5.1.4 The Mediating Role of Competitive Aggressiveness........................64
5.1.5 The Moderating Role of CEO-TMT Exchange Differentiation...........65
5.2 Implications for Research.......................................................................66
5.2.1 Theoretical Implications.......................................................................66
5.2.2 Managerial Implications....................................................................68
5.3 Limitation and Future Direction...............................................................68
REFERENCES.............................................................................................72

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