過去文獻顯示經理人能力會對於公司之發展帶來關鍵之影響，具有較佳能力之經理人可協助公司達成績效目標設定，以及為公司擬訂合適之策略。本研究以上市公司為研究對象，探討幼兒成長期差異及經理人能力之關聯性。
本研究以Demerjian et al. (2012)之研究中所採用之方法，對於經理人之能力進行衡量。結果顯示，在同屆之中，較早出生之經理人具有較高之經理人能力數值；而較晚出生者則具有較低之經理人能力數值。本研究更進一步分析，以疫情時期前後、產業間之差異、ROA替代經理人能力之代理變數，以及相近規模公司之比較方法，分別進行迴歸分析，發現其結果與先前主要之迴歸分析有一致之現象。

The existing academic literature has shown that managerial ability plays a crucial role in the growth of the firm. Managers with great ability are more likely to meet firm’s performance targets and to formulate appropriate firm strategies. This study measures managerial ability by using the approach developed by Demerjian et al. (2012) to investigate whether early childhood development will influence managerial ability.
The empirical results indicate that managers born earlier in the academic year tend to exhibit higher ability compared to managers born later.
Further regression reveals the same results from analyses using pre-Covid and after-Covid data and matched sample. The study also shows similar results by differentiating industries. At last, when using ROA as an alternative proxy for managerial ability, the results are significant in single-month analysis.

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