本研究旨在探討員工離職率對過度自信經理人與財務績效之中介效果。具
備過度自信特質的經理人，在資本支出方面會有超出同產業平均之傾向，進而使企業之財務績效有顯著影響。然而，考量員工滿意度是當代社會企業與公司治理聲浪興起下企業所著重之重要參考指標，而員工滿意度會反應在員工離職率指標上，且離職率指標不僅會受到經理人管理特質所影響，也會影響著企業之財務績效。因此，本研究首先探討具備過度自信特質的經理人是否會影響企業之財務績效，結果顯示過度自信經理人對當年度與下一年度之企業財務績效皆有正向顯著性。而後檢測過度自信經理人與員工離職率之關聯，結果顯示，過度自信經理人對下一年度之員工離職率具有正向顯著性。再針對員工離職率與企業之財務績效進行分析，結果表明，員工離職率對財務績效具有負向顯著性。最後，本研究著重探討員工離職率是否對過度自信經理人與財務績效有中介效果，研究結論表明，當財務績效指標為資產報酬率與權益報酬率時，員工離職率具有顯著中介效果，當財務績效指標為Tobin’s Q時，員工離職率不具有顯著中介效果。

This study aims to explore the mediating effect of employee turnover rate on overconfident CEO and financial performance. CEO with overconfidence traits tend to exceed the industry average in capital expenditure, which in turn has a significant impact on the financial performance of the enterprise. However, considering employee satisfaction is an important indicator that enterprises attach great importance to under the rise of corporate governance in contemporary society. Employee satisfaction is reflected in the employee turnover rate indicator, and the turnover rate indicator is not only influenced by the management characteristics of managers, but also affects the financial performance of enterprises. Therefore, this study first explores whether CEO with overconfident traits will affect the financial performance of a company. The results show that overconfident managers have a positive and significant impact on the financial performance of both the current and next years. Then, the association between overconfident managers and employee turnover rate was tested, and the results showed that overconfident managers had a positive and significant impact on the next year's employee turnover rate. Further analysis was conducted on the relationship between employee turnover rate and financial performance of the enterprise, and the results showed that employee turnover rate has a negative significance on financial
performance. Finally, this study focuses on exploring whether employee turnover rate has a mediating effect on overconfident managers and financial performance. The
research conclusion shows that when the financial performance indicators are Return on Assets and Return on Equity, employee turnover rate has a significant mediating
effect. When the financial performance indicator is Tobin's Q, employee turnover rate does not have a significant mediating effect.

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