鑑於執行長特質對公司的經營策略與決策具極大的影響力。本研究受往昔對於執行長特質對公司政策和策略影響相關研究之啟蒙，欲探討執行長調節焦點與非一般公認會計原則揭露頻率及是否揭露的關係。執行長調節焦點為一項基於動機的特質，反映了個人實現目標的策略傾向，直接影響公司的行為(Biru et al. 2023; Gamache et al. 2015, 2020; Lanaj et al. 2012)。據調節焦點理論(Crowe and Higgins 1997)，執行長有促進焦點(promotion focus)與預防焦點(prevention focus)，前者具有更愛好冒險並尋求成就的特質，而後者則屬較保守，並趨向滿足基本義務，避免執行額外任務的特質。在2004年至2019年期間，我發現促進焦點執行長與更高的非一般公認會計原則揭露頻率和可能性有關。另一方面，預防焦點執行長與非一般公認會計原則揭露的頻率較低，但與非一般公認會計原則揭露的可能性沒有關係。此外，促進焦點執行長可能會出於資訊性動機，透過排除使利益增加的特殊項目來揭露非GAAP收益，即便此舉會降低每股盈餘。整體而言，本研究發現執行長調節焦點是非一般公認會計原則揭露的重要決定因素。

CEO traits significantly influence companies’ strategy and decision-making. Inspired by previous studies on the impact of CEO traits on corporate policies and strategies, this study examines the relationship between CEO regulatory focus and the likelihood and frequency of non-GAAP disclosure. CEO regulatory focus is a motivational characteristic that reflects CEOs’ individual strategic propensity to achieve goals, which may directly influence firm behavior (Biru et al. 2023; Gamache et al. 2015, 2020; Lanaj et al. 2012). According to the regulatory focus theory (Crowe and Higgins 1997), CEOs can be promotion-focused or prevention-focused. The former type is more adventurous and seeks achievement, while the latter is more conservative, focuses on fulfilling basic duties, and tends to avoid the performance of additional tasks. For the period of 2004 to 2019, I find that promotion-focused CEOs are associated with a higher likelihood and frequency of non-GAAP disclosure. On the other hand, prevention-focused CEOs result in a lower frequency of non-GAAP disclosure, while there is no relationship in the likelihood of non-GAAP disclosure. Additionally, promotion-focused CEOs may, out of informative motivation, choose to disclose non-GAAP earnings by excluding income-increasing gains from special items, even if this results in lower reported earnings. Overall, this study suggests that CEO regulatory focus is an important determinant of non-GAAP disclosure.

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